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 Lender prior to 11:30 a.m. (Chicago time) on the date a Loan is to be made hereunder that such Lender does not intend to make its pro rata share of such Loan available to the Agent, the Agent may assume that such Lender has made such share available to the Agent on such date and the Agent may in reliance upon such assumption make available to the Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Agent by such Lender and the Agent has made such amount available to the Borrower, the Agent shall be entitled to receive such 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 Borrower and ending on but excluding the date the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or in the case of a day which is not a Business Day, then for the preceding day). If such amount is not received from such Lender by the Agent immediately upon demand, the Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such 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, so that the Borrower will have no liability under Section 2.9 hereof with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Lender Bank prior to 11:30 a.m. (or, in the case of a Borrowing of Domestic Rate Loans, by 11:00 A.M. (Chicago time) on on) the date on which such Bank is scheduled to make payment to the Agent of the proceeds of a Loan is to (which notice shall be made hereunder effective upon receipt) that such Lender Bank does not intend to make its pro rata share of such Loan available to the Agentpayment, the Agent may assume that such Lender Bank has made such share available to the Agent on such date payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower a corresponding amount. If the proceeds of the Loan to be made by such corresponding amount is 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 Agent by Borrower attributable to such Lender and the Agent has made such amount available to the Borrower, the Agent shall be entitled to receive such amount from such Lender forthwith upon the Agent's demand, 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 excluding) the date such Bank pays such amount to the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or in the case of a day which is not a Business Day, then for the preceding day)Federal Funds Rate. If such amount is not received from such Lender 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 Lender 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, so that the Borrower will have no liability under Section 2.9 1.11 hereof with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Lender prior to 11:30 a.m. (Chicago time) on before the date on which such Lender is scheduled to make payment to the Agent of the proceeds of a Loan is to (which notice shall be made hereunder effective upon receipt) that such Lender does not intend to make its pro rata share of such Loan available to the Agentpayment, the Agent may assume that such Lender has made such share available to the Agent on such date payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower a corresponding amount. If Company the proceeds of the Loan to be made by such corresponding amount is Lender and, if any Lender has not in fact made such payment to the Agent, such Lender shall, on demand, pay to the Agent the amount made available to the Agent by Company attributable to such Lender and the Agent has made such amount available to the Borrower, the Agent shall be entitled to receive such 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 Borrower Company and ending on (but excluding excluding) the date such Lender pays such amount to the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or in the case of a day which is not a Business Day, then for the preceding day)Federal Funds Rate. If such amount is not received from such 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 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 LoanLoan under Section 2.8 hereof, so that the Borrower Company will have no liability under Section 2.9 hereof 2.8 with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Lender prior to 11:30 a.m. (Chicago time) on the date a Loan is to be made hereunder that such Lender does not intend to make its pro rata share of such Loan available to the Agent, the Agent may assume that such Lender has made such share available to the Agent on such date and the Agent may in reliance upon such assumption make available to the relevant Borrower a corresponding amount. If such corresponding amount is not in fact made available to the Agent by such Lender and the Agent has made such amount available to the relevant Borrower, the Agent shall be entitled to receive such 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 the date the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or in the case of a day which is not a Business Day, then for the preceding day). If such amount is not received from such Lender by the Agent immediately upon demand, the such Borrower will, on demand, repay to the Agent the proceeds of the Loan attributable to such 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, so that the such Borrower will have no liability under Section 2.9 hereof with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Lender prior before the time when such Lender is scheduled to 11:30 a.m. (Chicago time) on make payment to the date Agent of the proceeds of a Revolving Loan is to be made hereunder that such Lender does not intend to make its pro rata share of such Loan available to the Agentpayment, the Agent may assume that such Lender has made such share available to the Agent on such date payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower a corresponding amount. If the proceeds of the Revolving Loan to be made by such corresponding amount is Lender and, if any Lender has not in fact made available such payment to the Agent, such Lender shall, on demand, pay to the Agent by the amount made available to such Borrower attributable to such Lender and the Agent has made such amount available to the Borrower, the Agent shall be entitled to receive such 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 Lender pays such amount to the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or Federal Funds Rate or, in the case of a day which is not a Business DayRevolving Loan denominated in an Alternative Currency, then for the preceding day)cost to the Agent of funding the amount it advanced to fund such Lender’s Revolving Loan, as determined by the Agent. If such amount is not received from such Lender by the Agent immediately upon demand, the applicable Borrower will, on demand, repay to the Agent the proceeds of the Revolving Loan attributable to such Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Revolving Loan, but without such payment being considered a payment or prepayment of a Loan, so that the Borrower will have no liability under Section 2.9 hereof with respect to such payment.

Agent Reliance on Bank Funding. Unless the Agent shall have been notified by a Lender prior before the time when such Lender is scheduled to 11:30 a.m. (Chicago time) on make payment to the date Agent of the proceeds of a Revolving Loan is to be made hereunder that such Lender does not intend to make its pro rata share of such Loan available to the Agentpayment, the Agent may assume that such Lender has made such share available to the Agent on such date payment when due and the Agent may in reliance upon such assumption (but shall not be required to) make available to the relevant Borrower a corresponding amount. If the proceeds of the Revolving Loan to be made by such corresponding amount is Lender and, if any Lender has not in fact made available such payment to the Agent, such Lender shall, on demand, pay to the Agent by the amount made available to such Borrower attributable to such Lender and the Agent has made such amount available to the Borrower, the Agent shall be entitled to receive such 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 Lender pays such amount to the Agent recovers such amount at a rate per annum equal to the effective rate charged to the Agent for overnight federal funds transactions with member banks of the federal reserve system for each day as determined by the Agent (or Federal Funds Rate or, in the case of a day which is not a Business DayRevolving Loan denominated in an Alternative Currency, then for the preceding day)cost to the Agent of funding the amount it advanced to fund such Lender's Revolving Loan, as determined by the Agent. If such amount is not received from such Lender by the Agent immediately upon demand, the applicable Borrower will, on demand, repay to the Agent the proceeds of the Revolving Loan attributable to such Lender with interest thereon at a rate per annum equal to the interest rate applicable to the relevant Revolving Loan, but without such payment being considered a payment or prepayment of a Loan, so that the Borrower will have no liability under Section 2.9 hereof with respect to such payment.