Common use of Arrangements for Advances Clause in Contracts

Arrangements for Advances. The Agent shall give notice to each Lender under each Credit Facility promptly in writing upon receipt by the Agent of any notice given under this Agreement which affects such a Lender. The Agent shall advise each applicable Lender of the amount, date and details of each relevant Advance (other than by way of Hedge Contract) and of each Lender's participation, as applicable, in each Advance. At or before 1:00 p.m. on the Drawdown Date, each Lender will make its participation available to the Borrower at such account or accounts as advised by the Agent to the Lenders from time to time. Unless the Agent has actual knowledge that a Lender has not made or will not make available to the Agent for value on the Drawdown Date requested for an Advance by the Borrower under a Credit Facility such Lender's Rateable Portion of such Advance requested, the Agent shall be entitled to assume that such amount has been or will be received from such Lender when so due and the Agent may (but shall not be obliged to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not in fact received by the Agent from such Lender on such Drawdown Date and the Agent has made available a corresponding amount to the Borrower on such Drawdown Date as aforesaid, such Lender shall pay to the Agent on demand an amount equal to the product of (i) the interest rate per annum applicable to the Advance multiplied by (ii) the amount that should have been paid to the Agent by such Lender on such Drawdown Date and was not, multiplied by (iii) a fraction, the numerator of which is the number of days that have elapsed from and including such Drawdown Date to but excluding the date on which the amount is received by the Agent from such Lender and the denominator of which is 365. A certificate of the Agent containing details of the amount owing by a Lender under this Section shall be deemed to be prima facie correct. If any such amount is not in fact received by the Agent from such Lender on such Drawdown Date, the Agent shall be entitled to recover from the Borrower, on demand, the related amount made available by the Agent to the Borrower as aforesaid together with interest thereon at the applicable rate per annum payable by the Borrower hereunder (but for greater certainty, without prejudice to any claim which the Borrower might have against such Lender as a result of such Lender not having made its Rateable Portion of such Advance).

Arrangements for Advances. The Agent or the US Administrative Agent, as applicable, shall give notice to each Lender under each Credit Facility promptly in writing upon receipt by the Agent or the US Administrative Agent, as applicable, of any notice given under this Agreement which affects such a Lender. The Agent or the US Administrative Agent, as applicable, shall advise each applicable Lender of the amount, date and details of each relevant Advance (other than by way of Hedge Contract) and of each Lender's participation, as applicable, participation in each Advance. At or before 1:00 p.m. on the Drawdown Date, each Lender will make its participation available to the Borrower at such account or accounts as advised by the Agent to the Lenders from time to timeAgent's Account for Payments. Unless the Agent or the US Administrative Agent, as applicable, has actual knowledge that a Lender has not made or will not make available to the Agent or the US Administrative Agent, as applicable, for value on the Drawdown Date requested for an Advance by the Borrower under a Credit Facility such Lender's Rateable Portion of such Advance requested, the Agent or the US Administrative Agent, as applicable, shall be entitled to assume that such amount has been or will be received from such Lender when so due and the Agent or the US Administrative Agent, as applicable, may (but shall not be obliged to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not in fact received by the Agent or the US Administrative Agent, as applicable, from such Lender on such Drawdown Date and the Agent or the US Administrative Agent, as applicable, has made available a corresponding amount to the Borrower on such Drawdown Date as aforesaid, such Lender shall pay to the Agent or the US Administrative Agent, as applicable, on demand an amount equal to the product of (i) the interest rate per annum applicable to the Advance multiplied by (ii) the amount that should have been paid to the Agent or the US Administrative Agent, as applicable, by such Lender on such Drawdown Date and was not, multiplied by (iii) a fraction, the numerator of which is the number of days that have elapsed from and including such Drawdown Date to but excluding the date on which the amount is received by the Agent or the US Administrative Agent, as applicable, from such Lender and the denominator of which is 365. A certificate of the Agent containing details of the amount owing by a Lender under this Section shall be deemed to be prima facie correct. If any such amount is not in fact received by the Agent or the US Administrative Agent, as applicable, from such Lender on such Drawdown Date, the Agent or the US Administrative Agent, as applicable, shall be entitled to recover from the Borrower, on demand, the related amount made available by the Agent or the US Administrative Agent, as applicable, to the Borrower as aforesaid together with interest thereon at the applicable rate per annum payable by the Borrower hereunder (but for greater certainty, without prejudice to any claim which the Borrower might have against such Lender as a result of such Lender not having made its Rateable Portion of such Advance).. -107-