Administrative Agents’ Availability Assumption Sample Clauses

Administrative Agents’ Availability Assumption. 7.8.1. Unless Administrative Agents have been given written notice by a Lender prior to an Advance Date that such Lender does not intend to make immediately available to Administrative Agents such Lender’s Pro-Rata Share of the Advance which Administrative Agents may be obligated to make on the Advance Date, including any Advance that may be made based on the issuance of an Approval, Administrative Agents may assume that such Lender has made the required amount available to Administrative Agents on the Advance Date and Administrative Agents may, in reliance upon such assumption, make available to Reseller a corresponding amount. Failure of any Lender to make immediately available its Pro-Rata Share of any Advance of the Swingline Loan, any Floorplan Loan (whether based on the issuance of an Approval or otherwise), the Interim Floorplan Loan (whether based on the issuance of an Approval or otherwise), any Revolving Loan or any other amount then owing hereunder by a Lender upon demand shall make such Lender a “Defaulting Lender”. If such corresponding amount is not in fact made immediately available to Administrative Agents by such Defaulting Lender on the Advance Date, Administrative Agents shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such Defaulting Lender does not pay such corresponding amount immediately upon Administrative Agents’ demand therefor, then Administrative Agents shall promptly notify Reseller and the other Lenders and Reseller shall pay such corresponding amount to Administrative Agents within one (1) Business Day. Administrative Agents shall also be entitled to recover, either from such Defaulting Lender or Reseller, interest on such corresponding amount for each day from the date such corresponding amount was made available by Administrative Agents to Reseller to the date such corresponding amount is recovered by Administrative Agents, at a rate per annum equal to either (a) if paid by such Lender, the cost to Administrative Agents of funding such amount at the Federal Funds Rate, or (b) if paid by Reseller, the applicable rate for the Advance in question determined from the request therefor. Each Lender shall be obligated only to fund its Pro-Rata Share of an Advance subject to the terms and conditions hereof, regardless of the failure of another Lender to fund its Pro-Rata Share thereof.

Administrative Agents’ Availability Assumption. (a) Unless the ---------------------------------------------- applicable Administrative Agent shall have been notified by any Lender by Written Notice prior to a borrowing date that such Lender does not intend to make available to the Administrative Agent such Lender's pro rata portion of any Revolving Loan which it shall be obligated to make on such date, the Administrative Agent may assume that such Lender has made such amount available to the Administrative Agent on the date for such borrowing and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Administrative Agent by such Lender on such date of borrowing, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender, which demand shall be made in a reasonably prompt manner. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the other Lenders and the Borrower, and the Borrower shall pay such corresponding amount to the Administrative Agent.