Common use of Advances by the Administrative Agent Clause in Contracts

Advances by the Administrative Agent. The Administrative Agent may, unless notified to the contrary by any Lender prior to a Drawdown Date, assume that such Lender has made available to the Administrative Agent on such Drawdown Date the amount of such Lender’s Commitment Percentage of the Revolving Credit Loans to be made on such Drawdown Date, and the Administrative Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrowers a corresponding amount. If any Lender makes available to the Administrative Agent such amount on a date after such Drawdown Date, such Lender shall pay to the Administrative Agent on demand an amount equal to the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid by the Administrative Agent for federal funds (or, if applicable, Canadian Dollar denominated funds) acquired by the Administrative Agent during each day included in such period, times (b) the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans, times (c) a fraction, the numerator of which is the number of days that elapse from and including such Drawdown Date to the date on which the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans shall become immediately available to the Administrative Agent, and the denominator of which is 360. A statement of the Administrative Agent submitted to such Lender with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Administrative Agent by such Lender. If the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans is not made available to the Administrative Agent by such Lender within three (3) Business Days following such Drawdown Date, the Administrative Agent shall be entitled to recover such amount from the applicable Borrower on demand, with interest thereon at the rate per annum applicable to the Revolving Credit Loans made on such Drawdown Date.

Advances by the Administrative Agent. The Unless the Administrative Agent may, unless shall have been notified to the contrary by any Lender prior to a Drawdown Datethe specified date of borrowing that such Lender does not intend to make available to the Administrative Agent the Loan to be made by such Lender on such date, the Administrative Agent may assume that such Lender has made will make the proceeds of such Loan available to the Administrative Agent on such Drawdown Date the amount of such Lender’s Commitment Percentage date of the Revolving Credit Loans to be made on such Drawdown Date, requested borrowing and the Administrative Agent may (but it shall not be required obligated to), in reliance upon such assumption, make available to the Borrowers a corresponding amount. If any Borrower the amount of such Loan to be provided by such Lender makes available and such Lender shall be liable to the Administrative Agent for the amount of such amount on a date after such Drawdown Date, advance. If such Lender does not pay such corresponding amount upon the Administrative Agent's demand, the Administrative Agent will promptly notify the Borrower, and the Borrower shall promptly pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from the Lender or the Borrower, as the case may be, interest on demand an such corresponding amount equal to in respect of each day from the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid date such corresponding amount was made available by the Administrative Agent for federal funds (or, if applicable, Canadian Dollar denominated funds) acquired to the Borrower to the date such corresponding amount is recovered by the Administrative Agent during each day included in at a per annum rate equal to (i) from the Borrower at the applicable rate for such periodLoan or (ii) from a Lender at the Federal Funds Effective Rate. Subject to the terms of this Agreement (including, times (b) the amount of such Lender’s Commitment Percentage of such Revolving Credit Loanswithout limitation, times (c) a fractionSection 12.14), the numerator of which is the number of days Borrower does not waive any claim that elapse from and including such Drawdown Date to the date on which the amount of such it may have against a Defaulting Lender’s Commitment Percentage of such Revolving Credit Loans shall become immediately available to the Administrative Agent, and the denominator of which is 360. A statement of the Administrative Agent submitted to such Lender with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Administrative Agent by such Lender. If the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans is not made available to the Administrative Agent by such Lender within three (3) Business Days following such Drawdown Date, the Administrative Agent shall be entitled to recover such amount from the applicable Borrower on demand, with interest thereon at the rate per annum applicable to the Revolving Credit Loans made on such Drawdown Date.

Advances by the Administrative Agent. The Unless Borrower or any Lender has notified the Administrative Agent mayAgent, unless notified prior to the contrary time any payment is required to be made by any Lender prior to a Drawdown Date, assume that such Lender has made available it to the Administrative Agent on such Drawdown Date the amount of under this Agreement, that Borrower or such Lender’s Commitment Percentage of , as the Revolving Credit Loans to be made on case may be, will not make such Drawdown Datepayment, and the Administrative Agent may assume that Borrower or such Lender, as the case may be, has timely made such payment and may (but it shall not be so required to), in reliance upon such assumptionthereon, make available a corresponding amount to the Borrowers a corresponding amountPerson entitled thereto. If any Lender makes available and to the extent that such payment was not in fact made to the Administrative Agent in Dollars and in immediately available funds, then: (i) if Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender in Dollars and in immediately available funds, together with interest thereon in respect of each day from and including the date such amount on a was made available by the Administrative Agent to such Lender to the date after such Drawdown Dateamount is repaid to the Administrative Agent in immediately available funds at the Federal Funds Rate from time to time in effect; and (ii) if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent on demand an the amount equal to the product of (a) the average computed thereof in Dollars and in immediately available funds, together with interest thereon for the period referred to in clause (c) below, of from the weighted average interest rate paid date such amount was made available by the Administrative Agent for federal funds (or, if applicable, Canadian Dollar denominated funds) acquired to Borrower to the date such amount is recovered by the Administrative Agent during each day included in such period, times (b) the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans, times (c) at a fraction, the numerator of which is the number of days that elapse from and including such Drawdown Date rate per annum equal to the date on which the Federal Funds Rate from time to time in effect. If such Lender pays such amount of such Lender’s Commitment Percentage of such Revolving Credit Loans shall become immediately available to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand therefor upon Borrower, and Borrower shall pay such amount to the denominator Administrative Agent, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to Borrower to the date such amount is recovered by the Administrative Agent at a rate per annum equal to the rate of interest applicable to such Borrowing. Nothing in this Agreement shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which is 360. the Administrative Agent or Borrower may have against any Lender as a result of any default by such Lender under this Agreement A statement notice of the Administrative Agent submitted to such any Lender or Borrower with respect to any amounts amount owing under this paragraph Section 3.5(c) shall be prima facie evidence of the amount due and owing to the Administrative Agent by such Lender. If the amount of such Lender’s Commitment Percentage of such Revolving Credit Loans is not made available to the Administrative Agent by such Lender within three (3) Business Days following such Drawdown Dateconclusive, the Administrative Agent shall be entitled to recover such amount from the applicable Borrower on demand, with interest thereon at the rate per annum applicable to the Revolving Credit Loans made on such Drawdown Dateabsent manifest error.