Common use of Agent Reliance on Bank Funding Clause in Contracts

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such day. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereof, so that the Borrower will have no liability under such Section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Domestic Rate Loans, by 1:00 p.m. 12:00 noon (Chicago time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such dayRate. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 1.18 hereof, so that the Borrower will have no liability under such Section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such day. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 1.13 hereof, so that the Borrower will have no liability under such Section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Domestic Rate Loans, by 1:00 p.m. 11:00 a.m. (Chicago time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such dayRate. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 1.11 hereof, so that the Borrower will have no liability under such Section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank Lender prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) on the date on which such Bank the Borrowing is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) made hereunder that such Bank Lender does not intend to make such paymentthe proceeds of its Term Loan available to the Agent, the Agent may assume that such Bank Lender has made such payment when due proceeds available to the Agent on such date and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower the proceeds of the Loan to be made by a corresponding amount. If such Bank and, if any Bank has corresponding amount is not in fact made such payment to the Agent, such Bank shall, on demand, pay available to the Agent by such Lender and the Agent has made such amount made available to such Borrower, the Borrower attributable Agent shall be entitled to receive such Bank amount from such Lender forthwith upon the Agent's demand, together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the such Borrower and ending on (but excluding) excluding the date such Bank pays the Agent recovers such amount to the Agent at a rate per annum equal to (i) from the date effective rate charged to the related advance was made Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent to (or in the date 2 case of a day which is not a Business Days after payment by such Bank is due hereunderDay, then for the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such preceding day). If such amount is not received from such Bank Lender by the Agent immediately upon demand, (i) the Borrower Borrowers will, on demand, repay to the Agent the proceeds of the such Term Loan attributable to such Bank Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Term Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereof, so that (ii) the Borrower will defaulting Lender shall have no liability right to participate in any recoveries from any one or more of the Borrowers or Guarantors in respect of such Term Loan and (iii) all amounts to which the defaulting Lender would otherwise be entitled under the terms of this Agreement or any of the other Loan Documents shall first be applied to reimbursing the Agent for the defaulting Lender's Term Loan, together with interest thereon as provided for herein. Upon reimbursement to the Agent (pursuant to clauses (i) or (iii) above or otherwise) of the amount advanced by the Agent in respect of the defaulting Lender's Term Loan together with interest thereon, the defaulting Lender shall thereupon be entitled to participate in recoveries from any one or more of the Borrowers or Guarantors in respect of such Section with respect to such paymentTerm Loan.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) before the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Revolving Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such dayRate. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 3.6 hereof, so that the Borrower will have no liability under such Section with respect to such payment; provided, that such repayment by the Borrower shall not be deemed to release or otherwise limit any claims or rights that the Borrower may have against any Bank for the failure to fund any Loans hereunder.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Domestic Rate Loans, by 1:00 p.m. 11:00 A.M. (Chicago time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such dayRate. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereofLoan, so that the Borrower will have no liability under such Section 1.11 hereof with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) Lender before the date on which such Bank Lender is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank Lender does not intend to make such payment, the Agent may assume that such Bank Lender has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower Company the proceeds of the Loan to be made by such Bank Lender and, if any Bank Lender has not in fact made such payment to the Agent, such Bank Lender shall, on demand, pay to the Agent the amount made available to the Borrower Company attributable to such Bank Lender together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower Company and ending on (but excluding) the date such Bank Lender pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank Lender is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank Lender to the date such payment is made by such BankLender, the Base Rate in effect for each such day. If such amount is not received from such Bank Lender by the Agent immediately upon demand, the Borrower Company will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 2.8 hereof, so that the Borrower Company will have no liability under such Section 2.8 with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) time on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such day. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereof, so that the Borrower will have no liability under such Section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) before the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Revolving Loan or a Short-Term Revolving Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the such Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the such Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from or, in the date 2 Business Days after case of a Loan denominated in an Alternative Currency, the date such payment is due from such Bank cost to the date such payment is made by Agent of funding the amount it advanced to fund such Bank's Loan, as determined by the Base Rate in effect for each such dayAgent. If such amount is not received from such Bank by the Agent immediately upon demand, the relevant Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 4.6 hereof, so that the such Borrower will have no liability under such Section with respect to such payment; provided, that such repayment by the relevant Borrower shall not be deemed to release or otherwise limit any claims or rights that such Borrower may have against any Bank for the failure to fund any Loans hereunder.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) Lender before the date on which such Bank Lender is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank Lender does not intend to make such payment, the Agent may assume that such Bank Lender has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower Company the proceeds of the Loan to be made by such Bank Lender and, if any Bank Lender has not in fact made such payment to the Agent, such Bank Lender shall, on demand, pay to the Agent the amount made available to the Borrower Company attributable to such Bank Lender together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower Company and ending on (but excluding) the date such Bank Lender pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance amount was made available to the Company by the Agent to the date 2 Business Days after payment by such Bank amount is due from the Lender hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment amount is due from such Bank the Lender hereunder to the date such payment amount is made paid to the Agent by such BankLender, the Base Rate in effect for each such day. If such amount is not received from such Bank Lender by the Agent immediately upon demand, the Borrower Company will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 2.8 hereof, so that the Borrower Company will have no liability under such Section 2.8 with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Domestic Rate Loans, by 1:00 1 p.m. (Chicago Milwaukee time) on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank does not intend to make such payment, the Agent may assume that such Bank has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower the proceeds of the Loan to be made by such Bank and, if any Bank has not in fact made such payment to the Agent, such Bank shall, on demand, pay to the Agent the amount made available to the Borrower attributable to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower and ending on (but excluding) the date such Bank pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance was made by the Agent to the date 2 Business Days after payment by such Bank is due hereunder, the Federal Funds Rate for each such day and (ii) from or, in the date 2 Business Days after case of a Loan denominated in an Alternative Currency, the date such payment is due from such Bank cost to the date such payment is made by Agent of funding the amount it advanced to fund such Bank's Loan, as determined by the Base Rate in effect for each such dayAgent. If such amount is not received from such Bank by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank with interest thereon on any amount unpaid more than three Business Days after such demand (but otherwise without interest) at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 3.6 hereof, so that the Borrower will have no liability under such Section section with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank Lender prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) on the date on which such Bank a Borrowing is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) made hereunder that such Bank Lender does not intend to make such paymentthe proceeds of its Loan available to the Agent, the Agent may assume that such Bank Lender has made such payment when due proceeds available to the Agent on such date and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower the proceeds of the Loan to be made by a corresponding amount. If such Bank and, if any Bank has corresponding amount is not in fact made such payment to the Agent, such Bank shall, on demand, pay available to the Agent by such Lender and the Agent has made such amount made available to such Borrower, the Borrower attributable Agent shall be entitled to receive such Bank amount from such Lender forthwith upon the Agent's demand, together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the such Borrower and ending on (but excluding) excluding the date such Bank pays the Agent recovers such amount to the Agent at a rate per annum equal to (i) from the date effective rate charged to the related advance was made Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent to (or in the date 2 case of a day which is not a Business Days after payment by such Bank is due hereunderDay, then for the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment is due from such Bank to the date such payment is made by such Bank, the Base Rate in effect for each such preceding day). If such amount is not received from such Bank Lender by the Agent immediately upon demand, (i) the Borrower Borrowers will, on demand, repay to the Agent the proceeds of the such Loan attributable to such Bank Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereofLIBOR Portion, so that the Borrower Borrowers will have no liability under such Section 2.9 hereof with respect to such payment, (ii) the defaulting Lender shall have no right to participate in any recoveries from any one or more of the Borrowers or Guarantors in respect of such Loan and (iii) all amounts to which the defaulting Lender would otherwise be entitled under the terms of this Agreement or any of the other Loan Documents shall first be applied to reimbursing the Agent for the defaulting Lender's Loan, together with interest thereon as provided for herein. Upon reimbursement to the Agent (pursuant to clauses (i) or (iii) above or otherwise) of the amount advanced by the Agent in respect of the defaulting Lender's Loan together with interest thereon, the defaulting Lender shall thereupon be entitled to participate in recoveries from any one or more of the Borrowers or Guarantors in respect of such Loan.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Bank prior to (or, in the case of a Borrowing of Base Rate Loans, by 1:00 p.m. (Chicago time) on) Lender before the date on which such Bank Lender is scheduled to make payment to the Agent of the proceeds of a Loan (which notice shall be effective upon receipt) that such Bank Lender does not intend to make such payment, the Agent may assume that such Bank Lender has made such payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower Company the proceeds of the Loan to be made by such Bank Lender and, if any Bank Lender has not in fact made such payment to the Agent, such Bank Lender shall, on demand, pay to the Agent the amount made available to the Borrower Company attributable to such Bank Lender together with interest thereon in respect of each day during the period commencing on the date such amount was made available to the Borrower Company and ending on (but excluding) the date such Bank Lender pays such amount to the Agent at a rate per annum equal to (i) from the date the related advance amount was made available to the Company by the Agent to the date 2 Business Days after payment by such Bank amount is due from the Lender hereunder, the Federal Funds Rate for each such day and (ii) from the date 2 Business Days after the date such payment amount is due from such Bank the Lender hereunder to the date such payment amount is made paid to the Agent by such BankLender, the Base Rate in effect for each such day. If such amount is not received from such Bank Lender by the Agent immediately upon demand, the Borrower Company will, on demand, repay to the Agent the proceeds of the Loan attributable to such Bank Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Loan, but without such payment being considered a payment or prepayment of a Loan under Section 1.12 hereof, so that the Borrower will have no liability under such Section with respect to such payment.