Advances by Lenders. On failure of the Obligor to perform any of the covenants and agreements contained herein and upon written notice to the Obligor, 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 (other than Permitted Liens), 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 Borrower promptly upon timely notice thereof and demand therefor, shall constitute additional Obligor 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 the Obligor, and no such advance or expenditure therefor, shall relieve the Obligor of any default under the terms of this Pledge Agreement. The Agent 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 Obligor or the Borrower in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.
Advances by Lenders. If the Agent receives a Notice of Borrowing, or a Notice of Swing Line Borrowing (or if the Agent gives a Notice of Borrowing pursuant to Section 2.02(f)) the Agent shall promptly on the Business Day prior to the date of such Borrowing or, if such Borrowing consists of Eurodollar Rate Advances, the third Business Day prior to the date of such Borrowing) give each Lender notice of such Notice of Borrowing or Notice of Swing Line Borrowing. Each Lender shall (i) before 12:00 noon (Dallas, Texas time) on the date of such Borrowing in the case of any Revolving Borrowing to be made on such date, or (ii) before 4:00 p.m. (Dallas, Texas time) on the date of such Borrowing in the case of a Swing Line Borrowing, make available for the account of its Applicable Lending Office to the Agent such Lender's ratable portion of such Borrowing by depositing same day funds in the Agent's Account. Unless the Agent shall have received written notice from a Revolving Lender prior to the date of any Revolving Borrowing hereunder that such Lender will not make available to the Agent such Lender's ratable portion of such Borrowing, the Agent may assume that such Lender has made such ratable portion available to the Agent on the date of such Borrowing in accordance with the terms hereof and the Agent may, in reliance upon such assumption, but shall not be required to, make available to or for the account of the Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to the Agent and the Agent makes such ratable portion available to the Borrower, such Lender and the Borrower, without prejudice to any rights or remedies that the Borrower may have against such Lender, severally agree to repay to the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to or for the account of the Borrower until the date such amount is repaid to the Agent, at (A) in the case of the Borrower, the interest rate applicable at the time to the Advances comprising such Borrowing, and (B) in the case of such Lender, the Federal Funds Rate. If such Lender shall pay to the Agent such amount, such amount so paid shall constitute such Lender's Advance as part of the relevant Borrowing for purposes of this Agreement and, to the extent that the Borrower previously paid such amount to the Agent, the Agent will refund to the Borrower such amount so p...
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. 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. 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. On failure of any Pledgor 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 expenditures which the Collateral Agent or the Lenders may make for the protection of the
Advances by Lenders. 5 SECTION 7. VOTING RIGHTS; DIVIDENDS............................................5 SECTION 8. CONTINUED PERFECTION OF SECURITY INTEREST...........................6
Advances by Lenders. On failure of any Obligor to perform any of the covenants and agreements contained herein, the Administrative Agent may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Administrative 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 Administrative Agent or the Lenders may make for the protection of the security hereof or may be compelled to make by operation of law. All such sums and amounts so expended shall be repayable by the Obligors on a joint and several basis 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 Section 2.7 of the Credit Agreement. No such performance of any covenant or agreement by the
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
Advances by Lenders. (a) The Facility Agent shall, as soon as it becomes aware of such circumstances, notify the Borrower if, because of any of the conditions described in Clause 3 (Conditions Precedent) or this Clause 4 not being satisfied, an Advance will not be made pursuant to a Notice of Drawdown. The parties acknowledge that the fact that an Advance is made pursuant to the Notice of Drawdown in circumstances in which there was no obligation so to do or the Notice of Drawdown was invalid, shall not in any way impair the ability of any Finance Party to exercise all or any of its rights or remedies under or in relation to this Agreement.
(b) Subject to the terms of this Agreement, each Lender shall on each Drawdown Date make available to the Facility Agent for the account of the Borrower its Participation in the Advance requested in the relevant Notice of Drawdown in the proportion which its Commitment then bears to the Total Commitments.
(c) Each Advance shall comprise drawings from the Senior Facility and the Subordinated Facility to be made simultaneously and on a pro-rata basis in the proportion that each of the Senior Facility and the Subordinated Facility bears to the total amount of the Loan.
