( i ) all or any part of the participant lc exposure of such defaulting lender shall be reallocated among the non - defaulting lenders in accordance with their respective applicable percentages but only to the extent the sum of all non - defaulting lenders ’ aggregate participant lc exposure plus the aggregate amount of all non - defaulting lenders ’ outstanding loans plus such defaulting lender ’ s participant lc exposure does not exceed the total of all non - defaulting lenders ’ commitments ; ( ii ) if the applicable account party cash collateralizes any portion of such defaulting lender ’ s participant lc exposure that has not been reallocated pursuant to clause ( i ) above, no specified account party shall be required to pay any fees to such defaulting lender pursuant to section 2. 08 with respect to such defaulting lender ’ s lc exposure during the period such defaulting lender ’ s participant lc exposure is cash collateralized ; ( iii ) if the participant lc exposure of the non - defaulting lenders is reallocated pursuant to clause ( i ) above, then the fees payable to the lenders pursuant to section 2. 14 shall be adjusted in accordance with such non - defaulting lenders ’ applicable percentages ; and ( iv ) if all or any portion of such defaulting lender ’ s participant lc exposure is neither reallocated nor cash collateralized pursuant to clause ( i ) or ( ii ) above, then, without prejudice to any rights or remedies of the issuing lender or any other lender hereunder, all fees payable under section 2. 14 with respect to such defaulting lender ’ s participant lc exposure shall be payable to the administrative agent until and to the extent that such participant lc exposure is reallocated and / or cash collateralized ; and ( i ) at any time or from time to time, without notice to the guarantors, the time for any performance of or compliance with any of the guaranteed obligations shall be extended, or such performance or compliance shall be waived ; ( ii ) any law or regulation of any jurisdiction, or the occurrence of any other event, affecting any guaranteed obligation ; ( ii ) any of the acts mentioned in any of the provisions of this agreement or any other agreement or instrument referred to herein shall be done or omitted ; or ( iii ) the maturity of any of the guaranteed obligations shall be accelerated, or any of the guaranteed obligations shall be