Common use of Assumptions Regarding Funding by Lenders Clause in Contracts

Assumptions Regarding Funding by Lenders. Unless the Agent shall have been notified by any Lender prior to the applicable Drawdown Date that such Lender will not make available to Agent such Lender’s Commitment Percentage of a proposed Loan, Agent may in its discretion assume that such Lender has made such Loan available to Agent in accordance with the provisions of this Agreement and the Agent may, if it chooses, in reliance upon such assumption make such Loan available to the Borrower, and such Lender shall be liable to the Agent for the amount of such advance. If such Lender does not pay such corresponding amount upon the Agent’s demand therefor, the Agent will promptly notify the Borrower, and the Borrower shall promptly pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from the Lender or the Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Agent to the Borrower to the date such corresponding amount is recovered by the Agent at a per annum rate equal to (i) from the Borrower at the applicable rate for such Loan or (ii) from a Lender at the Federal Funds Effective Rate.

Assumptions Regarding Funding by Lenders. Unless With respect to Revolving Loans to be made after the Effective Date, unless the Administrative Agent shall have been notified by any Lender prior to the applicable Drawdown Date that such Lender will not make available to the Administrative Agent a Revolving Loan to be made by such Lender’s Commitment Percentage of a proposed LoanLender in connection with any borrowing, the Administrative Agent may in its discretion assume that such Lender has made will make the proceeds of such Revolving Loan available to the Administrative Agent in accordance with the provisions of this Agreement Section, and the Administrative Agent may, if it choosesmay (but shall not be obligated to), in reliance upon such assumption assumption, make such Loan available to the Borrower, and such Lender shall be liable to the Agent for Borrower the amount of such advanceRevolving Loan to be provided by such Lender. If In such event, if such Lender does not make available to the Administrative Agent the proceeds of such Revolving Loan on the date and at the time specified in Section 2.1.(c), then such Lender and the Borrower severally agree to pay to the Administrative Agent on demand the amount of such corresponding amount upon Revolving Loan with interest thereon, for each day from and including the date such Revolving Loan is made available to the Borrower but excluding the date of payment to the Administrative Agent’s demand therefor, at (i) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the Administrative Agent will promptly notify in accordance with banking industry rules on interbank compensation and (ii) in the case of a payment to be made by the Borrower, and the Borrower interest rate applicable to Base Rate Loans. Notwithstanding the prior sentence, if any Lender shall promptly pay such corresponding amount fail to make available to the Agent. The Administrative Agent shall also be entitled to recover from the Lender or the Borrower, as the case may be, interest proceeds of a Revolving Loan on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Agent to the Borrower to the date such corresponding amount is recovered by the Agent at a per annum rate equal to (i) from the Borrower and at the applicable rate for such Loan or (ii) from a Lender at the Federal Funds Effective Ratetime specified in Section 2.1.