Lender Default

Example Definitions of "Lender Default"
Lender Default. Means (i) the refusal (which may be given verbally or in writing) or failure of any Lender to make available its portion of any Loans, which refusal or failure is not cured within 1 (one) Business Day after the date of such refusal or failure unless such Lender notifies the Administrative Agent and the Borrower in writing that such refusal or failure is the result of such Lender's determination in good faith that one or more Conditions Precedent (as defined in the Master Agreement) (each of... which Conditions Precedent, together with any applicable default, shall be specifically identified in writing) has not been satisfied; (ii) a Lender has notified either the Borrower or the Administrative Agent that it does not intend to comply with its funding obligations under the Loans or has made a public statement to that effect with respect to its funding obligations under the Loans; or (iii) a Lender (a) has admitted in writing that it is insolvent; (b) becomes subject to a voluntary or involuntary case filed with respect to such Lender under any debtor relief law; (c) has a custodian, conservator, receiver or similar official is appointed for such Lender or any substantial part of such Lender's assets; (d) has any Person that directly or indirectly controls such Lender is subject to a forced liquidation; or (e) makes a general assignment for the benefit of creditors or is otherwise adjudicated as, or determined by any Governmental Authority having regulatory authority over such Lender, insolvent or bankrupt. View More
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