Amounts Paid In Error. (a) If the Facility Agent (acting on the instructions of the Majority Lenders) pays an amount to another Party and the Facility Agent notifies that Party that such payment was an Erroneous Payment then the Party to whom that amount was paid by the Facility Agent shall on demand refund the same to the Facility Agent together with interest on that amount from the date of payment to the date of receipt by the Facility Agent, calculated by the Facility Agent to reflect its cost of funds.
Appears in 2 contracts
Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp)
Amounts Paid In Error. (a) If the Facility Agent (acting on the instructions of the Majority Lenders) pays an amount to another Party and the Facility Agent notifies that Party that such payment was an Erroneous Payment then the Party to whom that amount was paid by the Facility Agent shall on demand refund the same to the Facility Agent together with interest on that amount from the date of payment to the date of receipt by the Facility Agent, calculated by the Facility Agent to reflect its cost of funds.
Appears in 2 contracts
Samples: Amendment and Restatement Agreement (Atlas Investissement), Facility Agreement (Atlas Investissement)
