Common use of Bank’s Failure to Fund Clause in Contracts

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with Section 2.4(b) or Section 2.16(e) hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), shall he deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 2 contracts

Samples: Credit Agreement (Smith Charles E Residential Realty Lp), Credit Agreement (Smith Charles E Residential Realty Inc)

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Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's ’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof), and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof). If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's ’s Loan included in such Borrowing for purposes of this AgreementAgreement as of the date of such Borrowing. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's ’s share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership), Revolving Credit Agreement (Equity Residential)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) or Section 2.16(e) 2.4 hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(a) or Sections Section 2.4(c) or 2.16(e), shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's share of any Borrowing in accordance with Sections Section 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Iac Capital Trust)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's ’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof), and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof). If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's ’s Loan included in such Borrowing for purposes of this AgreementAgreement as of the date of such Borrowing. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's ’s share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.. 116

Appears in 1 contract

Samples: Revolving Credit Agreement (Equity Residential)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's ’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof), and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof). If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's ’s Loan included in such Borrowing for purposes of this AgreementAgreement as of the date of such Borrowing. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's ’s share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof 103 shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Revolving Credit Bridge Agreement (Equity Residential)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof. 132 If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Equity Residential Properties Trust)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Equity Residential Properties Trust)

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Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing Closing Date that such Bank will not make available to the Administrative Agent such Bank's share of such the initial Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (a) of Section 2.4(b) or Section 2.16(e) 2.2 hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e2.2(b) hereof. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(aor Section 2.2(b) or Sections 2.4(c) or 2.16(e), shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The `Me failure of any Bank to make available to the Administrative Agent such Bank's share of any the initial Borrowing in accordance with Sections 2.4(b) or 2.16(eSection 2.2(a) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Unsecured Loan Agreement (Iac Capital Trust)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing Closing Date that such Bank will not make available to the Administrative Agent such Bank's share of such the initial Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (a) of Section 2.4(b) or Section 2.16(e) 2.2 hereof, and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e2.2(b) hereof. If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(aor Section 2.2(b) or Sections 2.4(c) or 2.16(e), shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's share of any the initial Borrowing in accordance with Sections 2.4(b) or 2.16(eSection 2.2(a) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Unsecured Loan Agreement (Iac Capital Trust)

Bank’s Failure to Fund. (a) Unless the Administrative Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank's ’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) 2.4 or Section 2.16(e) hereof), and the Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Agent, such Bank and Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof). If such Bank shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall constitute such Bank's ’s Loan included in such Borrowing for purposes of this AgreementAgreement as of the date of such Borrowing. Nothing contained in this Section 9.16(a) or Sections 2.4(c) or 2.16(e), ) shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Agent. The failure of any Bank to make available to the Administrative Agent such Bank's ’s share of any Borrowing in accordance with Sections 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.. 118

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

Bank’s Failure to Fund. (a) Unless the Administrative Lead Agent shall have received notice from a Bank prior to the date of any Borrowing that such Bank will not make available to the Administrative Lead Agent such Bank's share of such Borrowing, the Administrative Lead Agent may assume that such Bank has made such share available to the Administrative Lead Agent on the date of such Borrowing in accordance with subsection (b) of Section 2.4(b) or Section 2.16(e) 2.4 hereof, and the Administrative Lead Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the Administrative Lead Agent, such Bank and Borrower severally agree to repay to the Administrative Lead Agent forthwith on demand such corresponding amount together with interest thereon, in accordance with the provisions of Section 2.4(c) or Section 2.16(e) hereof. If such Bank shall repay to the Administrative Lead Agent such corresponding amount, such amount so repaid shall constitute such Bank's Loan included in such Borrowing for purposes of this Agreement. Nothing contained in this Section 9.16(a) or Sections Section 2.4(c) or 2.16(e), shall he be deemed to reduce the Commitment of any Bank or in any way affect the rights of Borrower with respect to any defaulting Bank or Administrative Lead Agent. The failure of any Bank to make available to the Administrative Lead Agent such Bank's share of any Borrowing in accordance with Sections Section 2.4(b) or 2.16(e) hereof shall not relieve any other Bank of its obligations to fund its Commitment, in accordance with the provisions hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)

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