Common use of Assumption re Advances Clause in Contracts

Assumption re Advances. Unless the Administrative Agent has been notified in writing by a Lender at least 1 Business Day before a Drawdown Date that the Lender does not intend to make available its Rateable Portion of an Advance to be made available on the Drawdown Date, the Administrative Agent may, in its discretion, assume that the Lender has remitted to the Administrative Agent funds in an amount equal to its Rateable Portion of the Advance and the Administrative Agent may, in its discretion and in reliance upon that assumption, make available to the Borrower on the Drawdown Date an amount equal to the Lender’s Rateable Portion of that Advance. If the Lender does not in fact remit such funds to the Administrative Agent, the Administrative Agent shall promptly notify that Lender, and that Lender, or failing that Lender, the Borrower, shall forthwith on demand pay to the Administrative Agent the amount made available by the Administrative Agent on behalf of that Xxxxxx, together with interest thereon until the date of repayment thereof at a rate determined by the Administrative Agent (the determination to be conclusive and binding on that Lender) in accordance with the Administrative Agent’s usual banking practice for similar advances to financial institutions of like standing to that Lender, but, in any event, at a rate no greater than the usual interbank offered rate for the sale of deposits in the applicable currency.

Assumption re Advances. Unless the Administrative Agent has been notified in writing by a Lender at least 1 Business Day before a Drawdown Date that the Lender does not intend to make available its Rateable Portion of an Advance to be made available on the Drawdown Date, the Administrative Agent may, in its discretion, assume that the Lender has remitted to the Administrative Agent funds in an amount equal to its Rateable Portion of the Advance and the Administrative Agent may, in its discretion and in reliance upon that assumption, make available to the Borrower on the Drawdown Date an amount equal to the Lender’s Rateable Portion of that Advance. If the Lender does not in fact remit such funds to the Administrative Agent, the Administrative Agent shall promptly notify that Lender, and that Lender, or failing that Lender, the Borrower, shall forthwith on demand pay to the Administrative Agent the amount made available by the Administrative Agent on behalf of that XxxxxxLender, together with interest thereon until the date of repayment thereof at a rate determined by the Administrative Agent (the determination to be conclusive and binding on that Lender) in accordance with the Administrative Agent’s usual banking practice for similar advances to financial institutions of like standing to that Lender, but, in any event, at a rate no greater than the usual interbank offered rate for the sale of deposits in the applicable currency.

Assumption re Advances. Unless the Administrative Agent has been notified in writing by a Credit Facility Lender at least 1 one (1) Business Day before a Drawdown Date that the Credit Facility Lender does not intend to make available its Rateable Portion of an Advance to be made available on the Drawdown Date, the Administrative Agent may, in its discretion, assume that the Credit Facility Lender has remitted to the Administrative Agent funds in an amount equal to its Rateable Portion of the Advance and the Administrative Agent may, in its discretion and in reliance upon that assumption, make available to the a Borrower on the Drawdown Date an amount equal to the Credit Facility Lender’s 's Rateable Portion of that Advance. If the Credit Facility Lender does not in fact remit such funds to the Administrative Agent, the Administrative Agent shall promptly notify that Credit Facility Lender, and that Credit Facility Lender, or failing that Credit Facility Lender, the applicable Borrower, shall forthwith on demand pay to the Administrative Agent the amount made available by the Administrative Agent on behalf of that XxxxxxCredit Facility Lender, together with interest thereon until the date of repayment thereof at a rate determined by the Administrative Agent (the determination to be conclusive and binding on that Credit Facility Lender) in accordance with the Administrative Agent’s 's usual banking practice for similar advances to financial institutions of like standing to that Credit Facility Lender, but, in any event, at a rate no greater than the usual interbank offered rate for the sale of deposits in the applicable currency.

Assumption re Advances. Unless the Administrative Agent has been notified in writing by a Credit Facility Lender at least 1 one (1) Business Day before a Drawdown Date that the Credit Facility Lender does not intend to make available its Rateable Portion of an Advance to be made available on the Drawdown Date, the Administrative Agent may, in its discretion, assume that the Credit Facility Lender has remitted to the Administrative Agent funds in an amount equal to its Rateable Portion of the Advance and the Administrative Agent may, in its discretion and in reliance upon that assumption, make available to the a Borrower on the Drawdown Date an amount equal to the Credit Facility Lender’s Rateable Portion of that Advance. If the Credit Facility Lender does not in fact remit such funds to the Administrative Agent, the Administrative Agent shall promptly notify that Credit Facility Lender, and that Credit Facility Lender, or failing that Credit Facility Lender, the applicable Borrower, shall forthwith on demand pay to the Administrative Agent the amount made available by the Administrative Agent on behalf of that XxxxxxCredit Facility Lender, together with interest thereon until the date of repayment thereof at a rate determined by the Administrative Agent (the determination to be conclusive and binding on that Credit Facility Lender) in accordance with the Administrative Agent’s usual banking practice for similar advances to financial institutions of like standing to that Credit Facility Lender, but, in any event, at a rate no greater than the usual interbank offered rate for the sale of deposits in the applicable currency.