Advances and Payments. On the date of each Loan, the Applicable Agent shall be authorized (but not obligated) to advance, for the account of each of the Lenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Applicable Agent do so, each of the Lenders agrees forthwith to reimburse such Agent in immediately available funds for the amount so advanced on its behalf by such Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
Appears in 4 contracts
Samples: Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container Corp)
Advances and Payments. (1) On the date of each Loan, the Applicable Agent shall be authorized (but not obligated) to advance, for the account of each of the LendersBanks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Applicable Agent do so, each of the Lenders Banks agrees forthwith to reimburse such the Agent in immediately available funds for the amount so advanced on its behalf by such the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Mariner Post Acute Network Inc), Credit and Guaranty Agreement (Genesis Health Ventures Inc /Pa)
Advances and Payments. (A) On the date of each Loan, the Applicable Agent shall be authorized (but not obligated) to advance, for the account of each of the Lenders, the amount of the Loan to be made by it in accordance with its Commitment hereunderRevolving Commitment. Should the Applicable Agent do so, each of the Lenders agrees forthwith immediately to reimburse such the Agent in immediately available funds for the amount so advanced on its behalf by such the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
Appears in 1 contract
Samples: Possession Credit Agreement (Nutramax Products Inc /De/)
Advances and Payments. (a) On the date of each Loan, the Applicable Agent shall be authorized (but not obligated) to advance, for the account of each of the Lendersapplicable Lender, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Applicable Agent do so, each of the Lenders agrees forthwith to reimburse such the Agent in immediately available funds for the amount so advanced on its behalf by such the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
Appears in 1 contract
Samples: Loan and Guaranty Agreement (Tower Automotive, LLC)
Advances and Payments. (a) On the date of each Loan, the Applicable Agent shall be authorized (but not obligated, except pursuant to Section 2.2(g)) to advance, for the account of each of the Lenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Applicable Agent do so, each of the Lenders agrees forthwith to reimburse such the Agent in immediately available funds for the amount so advanced on its behalf by such the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
Appears in 1 contract
