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This excerpt taken from the
filed Nov 30, 2009.
” means the Agent at any time when:
it has failed to make (or has notified a Party that it will not make) a payment required to be made by it under the Finance Documents by the due date for payment;
the Agent otherwise rescinds or repudiates a Finance Document;
(if the Agent is also a Lender) it is a Defaulting Lender; or
an Insolvency Event has occurred and is continuing with respect to the Agent;
unless, in the case of paragraph (a) above:
its failure to pay is caused by:
administrative or technical error; or
a Disruption Event; and
payment is made within 5 Business Days of its due date; or
the Agent is disputing in good faith whether it is contractually obliged to make the payment in question.
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