Common use of Administrative Agent’s Right to Assume Payments Will be Made Clause in Contracts

Administrative Agent’s Right to Assume Payments Will be Made. Unless the Administrative Agent shall have been notified by Borrower prior to the date on which any payment to be made by Borrower hereunder is due that Borrower does not intend to remit such payment, the Administrative Agent may, in its discretion (but shall not be so obligated), assume that Borrower has remitted such payment when so due and the Administrative Agent may, in its discretion and in reliance upon such assumption, make available to each Bank on such payment date an amount equal to such Bank's Pro Rata Share of such assumed payment. If Borrower has not in fact remitted such payment to the Administrative Agent, each Bank shall forthwith on demand repay to the Administrative Agent the amount of such assumed payment made available to such Bank, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Bank to but excluding the date such amount is repaid to the Administrative Agent at a rate per annum equal to the actual cost to the Administrative Agent of funding such amount as notified by the Administrative Agent to such Bank.

Administrative Agent’s Right to Assume Payments Will be Made. Unless the Administrative Agent shall have been notified by a Borrower prior to the date on which any payment to be made by such Borrower hereunder is due that such Borrower does not intend to remit such payment, the Administrative Agent may, in its discretion (but shall not be so obligated)discretion, assume that each Borrower has remitted such payment when so due and the Administrative Agent may, in its discretion and in reliance upon such assumption, make available to each Bank Lender on such payment date an amount equal to such BankLender's Pro Rata Share share of such assumed payment. If a Borrower has not in fact remitted such payment to the Administrative Agent, each Bank Lender shall forthwith on demand repay to the Administrative Agent the amount of such assumed payment made available to such BankLender, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Bank Lender to but excluding the date such amount is repaid to the Administrative Agent at a rate per annum equal to the actual cost to the Administrative Agent of funding such amount as notified by the Administrative Agent to such BankFederal Funds Rate.

Administrative Agent’s Right to Assume Payments Will be Made. Unless the Administrative Agent shall have been notified by Borrower the Borrowers prior to the date on which any payment to be made by Borrower the Borrowers hereunder is due that Borrower does the Borrowers do not intend to remit such payment, the Administrative Agent may, in its discretion (but shall not be so obligated)discretion, assume that Borrower has the Borrowers have remitted such payment when so due and the Administrative Agent may, in its discretion and in reliance upon such assumption, make available to each Bank Lender on such payment date an amount equal to such BankLender's Pro Rata Share share of such assumed payment. If Borrower has the Borrowers have not in fact remitted such payment to the Administrative Agent, each Bank Lender shall forthwith on demand repay to the Administrative Agent the amount of such assumed payment made available to such BankLender, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Bank Lender to but excluding the date such amount is repaid to the Administrative Agent at a rate per annum equal to the actual cost to the Administrative Agent of funding such amount as notified by the Administrative Agent to such BankFederal Funds Rate.