Common use of Deficiency Advances Clause in Contracts

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lender, but shall not be obligated to, advance all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it had originally made such Loan; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to the Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 4 contracts

Samples: Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD)

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Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder Advance nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Credit Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Credit Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan Advance comprising the deficiency advance at the rate of interest rate per annum for overnight borrowing payable by the Borrower and payment by such other Lender to Agent from the Federal Reserve Bankof customary late fees, then such payment shall be to credited against the applicable Revolving Credit Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 4 contracts

Samples: Loan Agreement (MKS Instruments Inc), Loan Agreement (MKS Instruments Inc), Loan Agreement (MKS Instruments Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender (a "defaulting Lender") in respect to of such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent any other Lender (an "advancing Lender") may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under its Revolving Credit Commitment all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such defaulting Lender would have been entitled had it had originally made such Loanadvance under its applicable Revolving Credit Commitment; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent advancing Lender from such other the defaulting Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent advancing Lender by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent advancing Lender from the Federal Reserve Bank, then such payment shall be to credited against the Agent as a applicable Revolving Credit Commitment of the advancing Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other the defaulting Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 3 contracts

Samples: Credit Agreement (Bec Group Inc), Credit Agreement (Bec Group Inc), Credit Agreement (Bolle Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (Texas Bottling Group Inc), Credit Agreement (Coca Cola Bottling Group Southwest Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's ’s obligation to make any each Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Facility Agent may in its discretion and in its capacity as a Lender, but shall not be obligated to, advance all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it had originally made such Loan; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Facility Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Facility Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Facility Agent from the Federal Reserve Bank, then such payment shall be to the Facility Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment or Line of Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility or Line of Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note or Line of Credit Note, as the case may be, in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note or Line of Credit Note, as the case may be; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (Catalina Marketing Corp/De), Credit Agreement (Lincare Holdings Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower the Borrowers as herein provided, the Administrative Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its applicable Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Administrative Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Administrative Agent by a Borrower the Borrowers on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Administrative Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Administrative Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereondeficiency advance is made.

Appears in 2 contracts

Samples: Reimbursement Agreement (Republic Industries Inc), Credit Facilities and Reimbursement Agreement (Autonation Inc /Fl)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower the Borrowers as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower the Borrowers on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower the Borrowers thereon.

Appears in 2 contracts

Samples: Credit Agreement (Giant Cement Holding Inc), Credit Agreement (Giant Cement Holding Inc)

Deficiency Advances. No US Facility Lender shall be responsible for any default of any other US Facility Lender in respect to such other US Facility Lender's obligation to make any US Facility Loan hereunder nor shall the Revolving Credit US Facility Fronting Commitment of any US Facility Lender or the US Facility Commitment of any Lender hereunder be increased as a result of such default of any other US Facility Lender. Without limiting the generality of the foregoing, in the event any US Facility Lender shall fail to advance funds to any the US Facility Borrower as herein provided, the US Facility Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance make a US Facility Advance under the applicable US Facility Note in its favor as a US Facility Lender of all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other US Facility Lender would have been entitled had it had originally made such Loanadvance under its US Facility Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the US Facility Agent from such other US Facility Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the US Facility Agent by a the US Facility Borrower on each US Facility Loan comprising the deficiency advance advance, at the interest rate per annum for overnight borrowing by the US Facility Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable US Facility Note of the US Facility Agent as a Lender in full payment of such deficiency advance and such the US Facility Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other US Facility Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the US Facility Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (American Greetings Corp), Credit Agreement (American Greetings Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (Sheridan Healthcare Inc), Credit Agreement (Sheridan Healthcare Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Revolving Credit and Reimbursement Agreement (Watsco Inc), Revolving Credit and Reimbursement Agreement (Watsco Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder Advance nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Credit Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Credit Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan Advance comprising the deficiency advance at the rate of interest rate per annum for overnight borrowing payable by the Borrower and payment by such other Lender to Agent from the Federal Reserve Bankof customary late fees, then such payment shall be to credited against the applicable Revolving Credit Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (MKS Instruments Inc), Credit Agreement (MKS Instruments Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 2 contracts

Samples: Credit Agreement (Wackenhut Corrections Corp), Credit Agreement (Wackenhut Corrections Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanLoan under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Unicapital Corp)

Deficiency Advances. No Lender shall be responsible for any default ------------------- of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender evidencing Revolving Loans all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Note of the Agent as a Lender evidencing Revolving Loans in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. Nothing contained in the foregoing shall be construed in any way to limit the ability of any Loan Party from pursuing whatever legal remedy it may have as a result of a Lender's failure to fund its portion of a Loan.

Appears in 1 contract

Samples: Revolving Credit and Reimbursement Agreement (Accustaff Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan hereunder nor shall the Revolving Short Term Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Short Term Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankBank of Richmond, Virginia, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Short Term Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's ’s obligation to make any Loan hereunder hereunder, nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds make any Loan to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance in its favor as a Lender all or any portion of such amount or amounts Loan (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such defaulting Lender would have been entitled had it had originally made such Loan; provided that, that (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such defaulting Lender and (ii) upon payment to the Agent from such other defaulting Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Loan of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (V F Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Administrative Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Credit Commitment of the Administrative Agent, as a Lender, all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Credit Commitment; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Administrative Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Administrative Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankFunds Rate, then such payment shall be to credited against the Revolving Credit Commitment of the Administrative Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent NationsBank may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its applicable Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent NationsBank from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to NationsBank by the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent NationsBank from the a Federal Reserve Bank, then such payment shall be to credited against the Agent as a Lender applicable Note of NationsBank in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. In the event any Lender shall fail to advance funds to the Borrower as herein provided and such failure shall continue for a period in excess of ten (10) Business Days, then, notwithstanding the provisions of Section 2.09 hereof, the Borrower may terminate such Lender's Revolving Credit Commitment by repaying in full the amount of all principal and interest due such Lender under such Lender's Notes and all other amounts due hereunder and providing for a Replacement Bank.

Appears in 1 contract

Samples: Credit Agreement (Gtech Holdings Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender evidencing Loans all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Note of the Agent as a Lender evidencing Loans in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit Agreement (Acsys Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower the Borrowers or either of them under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower the Borrowers on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower the Borrowers thereon.

Appears in 1 contract

Samples: Credit Agreement (Miller Industries Inc /Tn/)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Revolving Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a the "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided PROVIDED that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit and Reimbursement Agreement (Wackenhut Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Windmere Durable Holdings Inc)

Deficiency Advances. No Lender shall be responsible for any ------------------- default of any other Lender in with respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender (a "failing Lender") shall fail to advance funds make an Advance with respect to any Borrower a Loan to the Borrowers as herein providedprovided in Section 2.1, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor (without regard to the maximum face amount of such Note, which maximum face amount shall be deemed increased as necessary to give effect to the provisions of this section) as a Lender all or any portion of such amount or amounts (each, a the "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it to which such failing Lender would have been entitled had originally such failing Lender made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other failing Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower the Borrowers on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other failing Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. Acceptance by the Borrower of a deficiency advance from the Agent shall in no way limit the rights of the Borrower against a failing Lender. Each Lender other than AmSouth and the failing Lender shall have the right, at its option, to purchase from AmSouth a portion of the deficiency advance determined by multiplying the principal amount of the deficiency advance by a fraction the numerator of which is the purchasing Lender's Applicable Commitment Percentage and the denominator of which is the aggregate of the Applicable Commitment Percentages of all the Lenders other than the failing Lender.

Appears in 1 contract

Samples: Credit Agreement (Hibbett Sporting Goods Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Short Term Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Short Term Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankBank of Richmond, Virginia, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Short Term Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. II.

Appears in 1 contract

Samples: Credit Agreement (Headway Corporate Resources Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advanceDeficiency Advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance Deficiency Advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advanceDeficiency Advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance Deficiency Advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance Deficiency Advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance Deficiency Advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Walter Industries Inc /New/)

Deficiency Advances. No Lender shall be responsible for any default ------------------- of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the applicable Borrower or Borrowers as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent -------- from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the applicable Borrower or Borrowers on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the applicable Borrower or Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the applicable Borrower or Borrowers thereon.

Appears in 1 contract

Samples: Credit Agreement (Breed Technologies Inc)

Deficiency Advances. No Lender shall be responsible for any ------------------- default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advanceDeficiency Advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance Deficiency Advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advanceDeficiency Advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance Deficiency Advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance Deficiency Advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance Deficiency Advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Walter Industries Inc /New/)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Saratoga Beverage Group Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Term Loan Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanLoan under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Unicapital Corp)

Deficiency Advances. No Revolving Credit Facility Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation under the same Facility to make any Revolving Credit Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Revolving Credit Facility Lender hereunder be increased as a result of such default of any other Lenderdefault. Without limiting the generality of the foregoing, in the event any Revolving Credit Facility Lender shall fail to advance funds to any Borrower as herein provided, including without limitation as a result of being in any insolvency or receivership proceeding (a "Non-Funding Lender"), the Relevant Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under its Commitment for the applicable Revolving Credit Facility as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such Non-Funding Lender would have been entitled had it had originally made such Loan; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon Advance. Upon payment to the Relevant Agent from such other Non-Funding Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, thereon (from the most recent date or dates interest was paid to the Relevant Agent by a Borrower the Facility Borrowers under the applicable Revolving Credit Facility on each Revolving Credit Loan comprising the deficiency advance) at the following respective rate for the following periods: (a) for the first three days such deficiency advance at shall be outstanding, the Reference Rate in the case of the Canadian Revolving Credit Facility, or the interest rate per annum for overnight borrowing by the US Agent from the Federal Reserve BankBank in the case of the US Revolving Credit Facility, and (b) thereafter, at the applicable Base Rate for Base Rate Loans under the applicable Revolving Credit Facility, then such payment shall be to the Agent as a Lender credited in full payment of such deficiency advance by the Relevant Agent and such Borrower the Facility Borrowers under the applicable Revolving Credit Facility shall be deemed to have borrowed the amount of such deficiency advance from such other Revolving Credit Facility Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower Facility Borrowers thereon. Nothing in this SECTION 3.7 or otherwise in the Loan Documents shall be construed to limit any rights the Borrowers may have from time to time against a Non-Funding Lender.

Appears in 1 contract

Samples: Credit Agreement (Consoltex Inc/ Ca)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's ’s obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lender, but shall not be obligated to, advance all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it had originally made such Loan; provided that, that (i) such defaulting Defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

Deficiency Advances. No Lender shall be responsible for any ------------------- default of any other Lender in respect to such other Lender's obligation to make any Loan or Advance hereunder nor shall the Revolving Credit 364 Day Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoingforegoing or the provisions of Section 2.11, in ------------ the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Administrative Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance (together with interest thereon as provided in clause (ii)) shall be paid by such Lender and (ii) upon payment to the Administrative Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Administrative Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankFunds Rate, then such payment shall be to credited against the applicable Note of the Administrative Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Ameristeel Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.the

Appears in 1 contract

Samples: Revolving Credit and Reimbursement Agreement (Capstone Capital Corp)

Deficiency Advances. No Lender shall be responsible for any default ------------------- of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender evidencing Revolving Loans all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon -------- payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Revolving Note of the Agent as a Lender evidencing Revolving Loans in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit Agreement (Acsys Inc)

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Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, ,from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Data General Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's ’s obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lender, but shall not be obligated to, advance all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it had originally made such Loan; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Seacastle Inc.)

Deficiency Advances. No Lender shall be responsible for any ------------------- default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire -------- outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Roper Industries Inc /De/)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment or Line of Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility or the Line of Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note or Line of Credit Note, as the case may be, in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note or Line of Credit Note, as the case may be; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankBank of Richmond, Virginia, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its applicable Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Facilities and Reimbursement Agreement (Proffitts Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's ’s obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lender, but shall not be obligated to, advance all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it had originally made such Loan; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to the Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided PROVIDED that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Berlitz International Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or Advance hereunder nor shall the Revolving Credit 364 Day Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoingforegoing or the provisions of Section 2.12, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance (together with interest thereon as provided in clause (ii)) shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankFunds Rate, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Modis Professional Services Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its applicable Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereondeficiency advance is made.

Appears in 1 contract

Samples: Credit Facilities and Reimbursement Agreement (Republic Industries Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment or Term Loan Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the applicable Borrower or Borrowers as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the applicable Borrower or Borrowers on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the applicable Borrower or Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the applicable Borrower or Borrowers thereon.

Appears in 1 contract

Samples: Credit Agreement (Breed Technologies Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Unicapital Corp)

Deficiency Advances. No Lender shall be responsible for any ------------------- default of any other Lender in with respect to such other Lender's obligation to make any Syndicated Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender (a "failing Lender") shall fail to advance funds make an Advance with respect to any Borrower a Syndicated Loan to the Borrowers as herein providedprovided in Section 2.1, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Syndicated Note in its favor (without regard to the maximum face amount of such Syndicated Note, which maximum face amount shall be deemed increased as necessary to give effect to the provisions of this section) as a Lender all or any portion of such amount or amounts (each, a the "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it to which such failing Lender would have been entitled had originally such failing Lender made such LoanAdvance under its Syndicated Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other failing Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower the Borrowers on each Syndicated Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Syndicated Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other failing Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. Acceptance by the Borrower of a deficiency advance from the Agent shall in no way limit the rights of the Borrower against a failing Lender. Each Lender other than AmSouth and the failing Lender shall have the right, at its option, to purchase from AmSouth a portion of the deficiency advance determined by multiplying the principal amount of the deficiency advance by a fraction the numerator of which is the purchasing Lender's Applicable Commitment Percentage and the denominator of which is the aggregate of the Applicable Commitment Percentages of all the Lenders other than the failing Lender.

Appears in 1 contract

Samples: Credit Agreement (Hibbett Sporting Goods Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment or Reserve Line Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its applicable Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a any Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the applicable Borrower shall be deemed to have borrowed the amount of such deficiency advance from 41 47 such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such any Borrower thereon.

Appears in 1 contract

Samples: Credit Facilities and Reimbursement Agreement (Greenfield Industries Inc /De/)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advanceDeficiency Advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance Deficiency Advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advanceDeficiency Advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance Deficiency Advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance Deficiency Advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance Deficiency Advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Delta Beverage Group Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender (a "failing Lender") shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note or Notes in its favor as a Lender all or any portion of such amount or amounts (each, a the "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if it to which such failing Lender would have been entitled had originally such failing Lender made such LoanAdvance under its Note or Notes; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other failing Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the Note or Notes of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other failing Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon. Acceptance by the Borrower of a deficiency advance from the Agent shall in no way limit the rights of the Borrower against a failing Lender.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankBank of Richmond, Virginia, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment or Term Loan Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds make an Advance to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Credit Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Credit Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Credit Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Reimbursement Agreement (Vitas Healthcare Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Note in its favor as a Lender all or any portion of such amount or amounts (each, a the "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, Bank then such payment shall be to credited against the Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit and Reimbursement Agreement (Willcox & Gibbs Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make 27 any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower the Borrowers as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a Borrower the Borrowers on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such Borrower the Borrowers shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by the Borrowers thereon. In the event any Lender shall fail to fund its purchase of a Participation after notice from the Issuing Bank or SouthTrust as the Swing Line lender, as applicable, such Borrower thereonLender shall pay to the Issuing Bank or SouthTrust as the Swing Line lender, as applicable, such amount on demand, together with interest on the amount so due from the date of such notice at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank to the date such purchase price is received by the Issuing Bank or SouthTrust as the Swing Line lender, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Giant Cement Holding Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to of such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Bridge Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Bridge Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Bridge Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Bridge Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the such deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve BankBank of Richmond, Virginia, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Bridge Credit Agreement (Healthsouth Corp)

Deficiency Advances. No Multicurrency Facilities Lender shall be responsible for any default of any other Multicurrency Facilities Lender in respect to such other Multicurrency Facilities Lender's obligation to make any Domestic Revolving Loan hereunder nor shall the Domestic Revolving Credit Commitment of any Multicurrency Facilities Lender hereunder be increased as a result of such default of any other Multicurrency Facilities Lender. Without limiting the generality of the foregoing, in the event any Multicurrency Facilities Lender shall fail to advance funds to any a Domestic Revolving Borrower as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Domestic Revolving Credit Note in its favor as a Multicurrency Facilities Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Multicurrency Facilities Lender would have been entitled had it had originally made such Loanadvance under its applicable Domestic Revolving Credit Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Multicurrency Facilities Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the applicable Multicurrency Facilities Borrower on each Domestic Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Domestic Revolving Credit Note of the Agent as a Lender in full payment of such deficiency advance and such the applicable Multicurrency Facilities Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Multicurrency Facilities Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such Multicurrency Facilities Borrower thereon.

Appears in 1 contract

Samples: Revolving Credit and Reimbursement Agreement (Tech Data Corp)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any Borrower the Borrowers as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the applicable Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such LoanAdvance under its Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Cultural Access Worldwide Inc)

Deficiency Advances. No Lender shall be responsible for any default of any other Lender in respect to such other Lender's obligation to make any Loan or fund its purchase of any Participation hereunder nor shall the Revolving Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender. Without limiting the generality of the foregoing, in the event any Lender shall fail to advance funds to any the Borrower under the Revolving Credit Facility as herein provided, the Agent may in its discretion and in its capacity as a Lenderdiscretion, but shall not be obligated to, advance under the Revolving Note in its favor as a Lender all or any portion of such amount or amounts (each, a "deficiency advance") and shall thereafter be entitled to payments of principal of and interest on such deficiency advance in the same manner and at the same interest rate or rates as if to which such other Lender would have been entitled had it had originally made such Loanadvance under its Revolving Note; provided that, (i) such defaulting Lender shall not be entitled to receive payments of principal, interest or fees with respect to such deficiency advance until such deficiency advance shall be paid by such Lender and (ii) upon payment to the Agent from such other Lender of the entire outstanding amount of each such deficiency advance, together with accrued and unpaid interest thereon, from the most recent date or dates interest was paid to the Agent by a the Borrower on each Revolving Loan comprising the deficiency advance at the interest rate per annum for overnight borrowing by the Agent from the Federal Reserve Bank, then such payment shall be to credited against the applicable Revolving Note of the Agent as a Lender in full payment of such deficiency advance and such the Borrower shall be deemed to have borrowed the amount of such deficiency advance from such other Lender as of the most recent date or dates, as the case may be, upon which any payments of interest were made by such the Borrower thereon.

Appears in 1 contract

Samples: Credit Agreement (Coca Cola Bottling Group Southwest Inc)

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