Common use of Agent may assume receipt Clause in Contracts

Agent may assume receipt. Where any sum is to be paid under the Security Documents to the Agent or, as the case may be, the Security Trustee for the account of another person, the Agent or, as the case may be, the Security Trustee may assume that the payment will be made when due and the Agent or, as the case may be, the Security Trustee may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent or, as the case may be, the Security Trustee, then the person to whom such sum was so made available must on request refund such sum to the Agent or, as the case may be, the Security Trustee together with interest thereon sufficient to compensate the Agent or, as the case may be, the Security Trustee for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable must indemnify the Agent or, as the case may be, the Security Trustee for any and all loss or expense which the Agent or, as the case may be, the Security Trustee may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under any of the Security Documents to the Agent or, as the case may be, the Security Trustee Agent for the account of another person, the Agent or, as the case may be, the Security Trustee Agent may assume that the payment will be made when due and the Agent or, as the case may be, the Security Trustee Agent may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent or, as the case may be, the Security TrusteeAgent, then the person to whom such sum was so made available must shall on request refund such sum to the Agent or, as the case may be, the Security Trustee Agent together with interest thereon sufficient to compensate the Agent or, as the case may be, the Security Trustee Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable must shall indemnify the Agent or, as the case may be, the Security Trustee Agent for any and all loss or expense which the Agent or, as the case may be, the Security Trustee Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Agent may assume receipt. Where any sum is to be paid under the Security Documents to the Agent or, as the case may be, the Security Trustee Agent for the account of another person, the Agent or, as the case may be, the Security Trustee Agent may assume that the payment will be made when due and the Agent or, as the case may be, the Security Trustee Agent may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Agent or, as the case may be, the Security TrusteeAgent, then the person to whom such sum was so made available must shall on request refund such sum to the Agent or, as the case may be, the Security Trustee Agent together with interest thereon sufficient to compensate the Agent or, as the case may be, the Security Trustee Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable must shall indemnify the Agent or, as the case may be, the Security Trustee Agent for any and all loss or expense which the Agent or, as the case may be, the Security Trustee Agent may sustain or incur as a consequence of such sum not having been paid on its due date.