Common use of Termination of Defaulting Lender Clause in Contracts

Termination of Defaulting Lender. The Borrower, on behalf of the Co-Borrowers, may terminate the unused amount of the Revolving Commitment of any Revolving Lender that is a Defaulting Lender upon not less than ten Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.24(a)(ii) will apply to all amounts thereafter paid by the Co-Borrowers for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim any Co-Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender.

Termination of Defaulting Lender. The Borrower, on behalf of the Co-Borrowers, Borrower may terminate the unused amount of the Revolving RC Commitment of any Revolving RC Lender that is a Defaulting Lender upon not less than ten five (5) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.24(a)(iiclause (b) of Subsection 2.15.1 (Defaulting Lender Waterfall) will apply to all amounts thereafter paid by the Co-Borrowers Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided provided, that (ia) no Event of Default shall have occurred and be continuing, and (iib) such termination shall not be deemed to be a waiver or release of any claim any Co-the Borrower, the Administrative Agent Agent, the Issuing Bank, the Swingline Lender or any Lender may have against such Defaulting Lender.

Termination of Defaulting Lender. The Borrower, on behalf of the Co-Borrowers, Borrower may terminate the unused amount of the Revolving Commitment of any Revolving Lender that is a Defaulting Lender upon not less than ten (10) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.24(a)(ii) will apply to all amounts thereafter paid by the Co-Borrowers Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) at the date of such termination, no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim any Co-the Borrower, the Administrative Agent Agent, the Issuing Lender, the Swingline Bank, or any other Lender may have against such Defaulting Lender.