Common use of Defaulting APA Banks Clause in Contracts

Defaulting APA Banks. If one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such APA Bank shall be called a "DEFAULTING APA BANK" and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (a "NON-DEFAULTING APA BANK") shall promptly pay to the Funding Agent, in immediately available funds, an amount equal to the lesser of (x) such Non-Defaulting APA Bank's proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Price Deficit (as applicable) and (y) the unused portion of such Non-Defaulting APA Bank's Commitment. A Defaulting APA Bank shall forthwith upon demand pay to the Funding Agent for the account of the Non-Defaulting APA Banks all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the Federal Funds Effective Rate plus two percent (2%). In addition, without prejudice to any other rights that Initial Purchaser may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser forthwith upon demand, the difference between such Defaulting APA Bank's unpaid Acquisition Amount and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's request for such Defaulting APA Bank's Acquisition Amount pursuant to SUBSECTION 2.6(a) until the date the requisite amount is paid to Initial Purchaser in full, at a rate per annum equal to the Federal Funds Effective Rate plus two percent (2%).

Defaulting APA Banks. If If, by 3:00 P.M. (New York time) on any Purchase Date, one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such APA Bank shall be called each, a "DEFAULTING Defaulting APA BANK" Bank", and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (Bank being referred to as a "NONNon-DEFAULTING Defaulting APA BANKBank") shall promptly pay fails to make its Pro Rata Share of the Purchase Price available to the Funding AgentAgent pursuant to Section 2.1(a) (the aggregate amount not so made available to the Funding Agent being herein called the "Purchase Price Deficit"), then the Funding Agent shall, by no later than 3:30 P.M. (New York time) on such Purchase Date, instruct each Non-Defaulting APA Bank to pay, by no later than 4:00 P.M. (New York time) on such Purchase Date, in immediately available funds, to the account designated by the Funding Agent, an amount equal to the lesser of (x) such Non-Defaulting APA Bank's proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Purchase Price Deficit (as applicable) and (y) the unused portion of such Non-Defaulting APA Bank's its Available Commitment. A Defaulting APA Bank shall forthwith forthwith, upon demand demand, pay to the Funding Agent for the account ratable benefit of the Non-Defaulting APA Banks all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%). In addition, without prejudice to any other rights that Initial Purchaser PARCO may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser PARCO forthwith upon demand, the difference between such the Defaulting APA Bank's unpaid Acquisition Amount Pro Rata Share of the Purchase Price and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's request for such Defaulting APA Bank's Acquisition Amount Pro Rata Share of the Purchase Price pursuant to SUBSECTION 2.6(aSection 2.1(b) until the date the requisite amount is paid to Initial Purchaser PARCO in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%).

Defaulting APA Banks. If If, by 2:00 P.M. (New York time), one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such APA Bank shall be called each, a "DEFAULTING Defaulting APA BANK" Bank", and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (Bank being referred to as a "NONNon-DEFAULTING Defaulting APA BANKBank") shall promptly pay fails to make its Pro Rata Share of the Purchase Price available to the Funding AgentAgent pursuant to Section 2.1(a) (the aggregate amount not so made available to the Funding Agent being herein called the "Purchase Price Deficit"), then the Funding Agent shall, by no later than 2:30 P.M. (New York time), instruct each Non-Defaulting APA Bank to pay, by no later than 3:00 P.M. (New York time), in immediately available funds, to the account designated by the Funding Agent, an amount equal to the lesser of (x) such Non-Defaulting APA Bank's proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Purchase Price Deficit (as applicable) and (y) the its unused portion of such Non-Defaulting APA Bank's Commitment. A Defaulting APA Bank shall forthwith forthwith, upon demand demand, pay to the Funding Agent for the account ratable benefit of the Non-Defaulting APA Banks all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the Federal Funds Effective Rate plus two percent (2%). In addition, without prejudice to any other rights that Initial Purchaser may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser forthwith upon demand, the difference between such Defaulting APA Bank's unpaid Acquisition Amount and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's request for such Defaulting APA Bank's Acquisition Amount pursuant to SUBSECTION 2.6(a) until the date the requisite amount is paid to Initial Purchaser in full, at a rate per annum equal to the Federal Funds Effective Rate plus two percent (2%).a

Defaulting APA Banks. If If, by 2.00P.M. (New York time) on any Purchase Date, one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such each, a “Defaulting APA Bank shall be called a "DEFAULTING APA BANK" Bank”, and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (Bank being referred to as a "NON“Non-DEFAULTING Defaulting APA BANK"Bank”) shall promptly pay fails to make its Pro Rata Share of the Purchase Price available to the Funding AgentAgent pursuant to Section 2.1(b) (the aggregate amount not so made available to the Funding Agent being herein called the “Purchase Price Deficit”), then the Funding Agent shall, by no later than 2.30P.M. (New York time) on such Purchase Date, instruct each Non-Defaulting APA Bank to pay, by no later than 3.00P.M. (New York time) on such Purchase Date, in immediately available funds, to the accounts designated by the Funding Agent, an amount equal to the lesser lessor of (x) such Non-Defaulting APA Bank's ’s proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Purchase Price Deficit (as applicable) and (y) the unused portion of such Non-Defaulting APA Bank's its Available Commitment. A Defaulting APA Bank shall forthwith forthwith, upon demand demand, pay to the Funding Agent for the account rateable benefit of the Non-Defaulting APA Banks all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%). In addition, without prejudice to any other rights that Initial Purchaser PARCO may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser PARCO, forthwith upon demand, the difference between such the Defaulting APA Bank's ’s unpaid Acquisition Amount Pro Rata Share of the Purchase Price and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's ’s request for such Defaulting APA Bank's Acquisition Amount ’s Pro Rata Share of the Purchase Price pursuant to SUBSECTION 2.6(aSection 2.1(b) until the date the requisite amount is paid to Initial Purchaser PARCO in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%).

Defaulting APA Banks. If If, by 2:00 P.M. (New York time), one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such APA Bank shall be called each, a "DEFAULTING Defaulting APA BANK" Bank", and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (Bank being referred to as a "NONNon-DEFAULTING Defaulting APA BANKBank") shall promptly pay fails to make its Pro Rata Share of the Purchase Price available to the Funding AgentAgent pursuant to Section 2.1(a) (the aggregate amount not so made available to the Funding Agent being herein called the "Purchase Price Deficit"), then the Funding Agent shall, by no later than 2:30 P.M. (New York time), instruct each Non-Defaulting APA Bank to pay, by no later than 3:00 P.M. (New York time), in immediately available funds, to the account designated by the Funding Agent, an amount equal to the lesser of (x) such Non-Defaulting APA Bank's proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Purchase Price Deficit (as applicable) and (y) the its unused portion of such Non-Defaulting PARCO APA Bank's Bank Commitment. A Defaulting APA Bank shall forthwith forthwith, upon demand demand, pay to the Funding Agent for the account ratable benefit of the Non-Defaulting APA Banks all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%). In addition, without prejudice to any other rights that Initial Purchaser PARCO may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser PARCO forthwith upon demand, the difference between such the Defaulting APA Bank's unpaid Acquisition Amount Pro Rata Share of the Purchase Price and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's request for such Defaulting APA Bank's Acquisition Amount Pro Rata Share of the Purchase Price pursuant to SUBSECTION 2.6(aSection 2.1(b) until the date the requisite amount is paid to Initial Purchaser PARCO in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent (2%).

Defaulting APA Banks. If If, by 2:00 P.M. (New York time), one or more APA Banks defaults in its obligation to pay its Acquisition Amount pursuant to SECTION 2.5(b) or SECTION 2.6(a) (each such APA Bank shall be called each, a "DEFAULTING APA BANK" ", and the aggregate amount of such defaulted obligations pursuant to Section 2.5(b) being herein called the "FUNDING DEFICIT" and the aggregate amount of such defaulted obligations pursuant to Section 2.6(a) being herein called the "CONDUIT TRANSFER PRICE DEFICIT"), then upon notice from the Funding Agent, each APA Bank other than the Defaulting APA Banks (Bank being referred to as a "NON-DEFAULTING APA BANK") shall promptly pay fails to make its Pro Rata Share of the Purchase Price available to the Funding AgentAgent pursuant to Section 2.1(a) (the aggregate amount not so made available to the Funding Agent being herein called the "PURCHASE PRICE DEFICIT"), then the Funding Agent shall, by no later than 2:30 P.M. (New York time), instruct each Non-Defaulting APA Bank to pay, by no later than 3:00 P.M. (New York time), in immediately available funds, to the account designated by the Funding Agent, an amount equal to the lesser of (x) such Non-Defaulting APA Bank's proportionate share (based upon the relative Commitments of the Non-Defaulting APA Banks) of the Funding Deficit or the Conduit Transfer Purchase Price Deficit (as applicable) and (y) the its unused portion of such Non-Defaulting APA Bank's Commitment. A Defaulting APA Bank shall forthwith forthwith, upon demand demand, pay to the Funding Agent Agent, for the account ratable benefit of the Non-Defaulting APA Banks Banks, all amounts paid by each Non-Defaulting APA Bank on behalf of such Defaulting APA Bank, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting APA Bank until the date such Non-Defaulting APA Bank has been paid such amounts in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent 2% (2%or such higher rate as is applicable through interbank compensation rules). In addition, without prejudice to any other rights that Initial Purchaser PARCO may have under applicable law, each Defaulting APA Bank shall pay to Initial Purchaser PARCO forthwith upon demand, the difference between such the Defaulting APA Bank's unpaid Acquisition Amount Pro Rata Share of the Purchase Price and the amount paid with respect thereto by the Non-Defaulting APA Banks, together with interest thereon, for each day from the date of the Funding Agent's request for such Defaulting APA Bank's Acquisition Amount Pro Rata Share of the Purchase Price pursuant to SUBSECTION 2.6(aSection 5.1(b) until the date the requisite amount is paid to Initial Purchaser PARCO in full, at a rate per annum equal to the sum of the Federal Funds Effective Rate plus two percent 2% (2%or such higher rate as is applicable through interbank compensation rules).