Advances by Lenders. On failure of any Pledgor to perform any of the covenants and agreements contained herein, the Agent may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures which the Agent or the Lenders may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Pledgors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Pledgor Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Section 3.1 of the Credit Agreement for Revolving Loans that are Base Rate Loans. No such performance of any covenant or agreement by the Agent or the Lenders on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgors of any default under the terms of this Pledge Agreement, the other Credit Documents or any Hedging Agreement. The Lenders may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by a Pledgor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lenders. The Agent shall promptly (and in any event ------------------- within one Business Day) give each Lender notice of each Notice of Borrowing received by it. Each Lender shall, before (i) 12:00 Noon (San Francisco time) with respect to Borrowings in U.S. Dollars, and (ii) 9:00 a.m. (local time at the Agent's Applicable Lending Office) with respect to Borrowings in Alternative Currencies, on the date of the Committed Borrowing covered by each such Notice of Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Committed Borrowing by deposit ing the amount of such portion in the applicable currency and in same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Lender prior to the date of any such Committed Borrowing that such Lender will not make available to the Agent such Lender's ratable portion of such Committed Borrowing, the Agent may assume that such Lender has made such portion available to the Agent on the date of such Committed Borrowing in accordance with this Section 2.02(c) and the Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount pursuant to Section 2.02(d). If and to the extent any Lender shall not have made available to the Agent on the date of the Committed Borrowing such Lender's ratable portion of such Committed Borrowing, such Lender and the applicable Borrower agrees to pay to the Agent forthwith on demand such amount together with interest thereon, for each day from the date such amount is made available to the applicable Borrower until the date such amount is repaid to the Agent, at an interest rate equal to, in the case of a Borrower, the interest rate (plus the Applicable Margin) stated in the Notice of Borrowing applicable thereto, or, in the case of a Lender, the Federal Funds Rate or, in the case of a payment in an Alternative Currency, the Overnight Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of such Committed Borrowing for purposes of this Agreement and to such extent the Borrower shall have no further obligation under this Section 2.02(c) to repay such amount.
Advances by Lenders. On failure of any the Grantor to perform any of the covenants and agreements contained herein, the Collateral Agent may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Collateral Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other reasonable expenditures which the Agents or the Lenders may make for the protection of the security hereof or which may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Grantor promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate specified in Sections 4.1 and 4.2 of the Credit Agreement. No such performance of any covenant or agreement by the Agents or the Lenders on behalf of the Grantor, and no such advance or expenditure therefor, shall relieve the Grantor of any default under the terms of this Security Agreement or any of the other Credit Documents. The Lenders may make any payment hereby authorized in accordance with any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by the Grantor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lenders. The failure of any Lender to make an Advance shall not relieve any other Lender of its obligations in connection with such Advance, but no Lender is responsible for any other Lender’s failure in respect of an Advance. Unless the Administrative Agent receives notice from any Lender prior to the date of any Advance that such Lender will not make its rateable portion of the Advance available to the Administrative Agent, the Administrative Agent may assume that such Lender has made its portion so available on the date of the Advance and may, in reliance upon such assumption, make a corresponding amount available to the Borrower. If any Lender has not made its rateable portion available to the Administrative Agent, such Lender shall pay the corresponding amount to the Administrative Agent immediately upon demand. If any Lender pays the corresponding amount to the Administrative Agent, the amount so paid shall constitute such Lender’s part of the Advance for purposes of this Agreement. If such Lender does not pay the amount to the Administrative Agent immediately upon demand and such amount has been made available to the Borrower, the Borrower shall pay the corresponding amount to the Administrative Agent immediately upon demand and any amount received and so reimbursed would not and will not constitute an Advance. The Administrative Agent shall also be entitled to recover from such Lender interest on the corresponding amount, for each day from the date the amount was made available to the Borrower until the date it is repaid to the Administrative Agent, at a rate per annum equal to the Administrative Agent’s reasonable cost of funds.
Advances by Lenders. Upon notice by the Administrative Agent of its receipt of a Notice of Borrowing in accordance with Section 2.2(a)(i), each Lender will make its Revolving Commitment Percentage of each Revolving Loan borrowing available to the Administrative Agent for the account of the Borrower, or in such other manner as the Administrative Agent may specify in writing, by 1:00 P.M. (Charlotte, North Carolina time) on the date specified in the applicable Notice of Borrowing in Dollars and in funds immediately available to the Administrative Agent.
Advances by Lenders. Unless the Agent elects, in the exercise of its discretion from time to time, to have one of the other provisions of this Section 2.6 (Funding of Advances) apply, upon the Agent’s receipt of a Loan Notice, the Agent shall promptly notify each Lender of the amount of each Advance to be made by such Lender on the requested borrowing date under such Lender’s Revolving Credit Commitment. Not later than 1:00 p.m. (Baltimore City Time) on each requested borrowing date for the making of Advances, each Lender shall, if it has received timely notice from the Agent of the Borrower’s request for such Advances, make available to the Agent, in funds immediately available to the Agent at the Agent’s office set forth in Section 9.1 (Notices), such Lender’s Revolving Credit Pro Rata Share of the Advances to be made on such date.
Advances by Lenders. If the Borrower shall fail to perform any of its covenants in this Agreement, the Lenders may, but shall not be required to, at any time and from time to time, after written notice to the Borrower, make advances to effect performance of that covenant on behalf of the Borrower. Any money so advanced by the Lenders, together with interest at the Prime Rate plus two percent (2%), or Simple Interest plus four percent (4%), whichever is greater, or the maximum rate permitted by law, whichever is less, shall be repaid upon demand,
Advances by Lenders. On failure of any Obligor to perform any of the covenants and agreements contained herein, the Agent may, at its sole option and in its sole discretion,
Advances by Lenders. 5 SECTION 7. VOTING RIGHTS; DIVIDENDS............................................5 SECTION 8. CONTINUED PERFECTION OF SECURITY INTEREST...........................6
Advances by Lenders. Upon notice by the Administrative Agent of its receipt of a Notice of Borrowing in accordance with Section 2.2(b)(i), each Revolving Lender will make its Revolving Commitment
