Reduction in Payments. Notwithstanding any provisions herein to the contrary, in the event that the Borrower fails to pay in full in respect of any amount due to the Facility Agent pursuant to the relevant Finance Document on the due date relating thereto, for any reasons whatsoever, the obligation of the Facility Agent to make the payments referred to in this Clause 23 to the Lenders shall be reduced pro rata by the shortfall in the payment received by the Facility Agent.
Appears in 3 contracts
Sources: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)