Common use of Disbursement of Term Loan Clause in Contracts

Disbursement of Term Loan. Subject to the satisfaction of the conditions of the making of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30, 2004, make available the amount of its Percentage of the Term Loan in immediately available funds to Agent, at the office of Agent located at 000 Xxxxxxxx Xxxxxx, Detroit, Michigan 48226. Agent shall make available to Company not later than 4:00 p.m. (Detroit time) on such date the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party as Company may direct. Unless Agent shall have been notified by any Term Loan Bank that such Term Loan Bank does not intend to make available to Agent such Term Loan Bank's pro rata share of the Term Loan, Agent may assume that such Term Loan Bank has made such amount available to Agent on such date and may, in reliance upon such assumption, make available to Company a corresponding amount. If such amount is not in fact made available to Agent by such Term Loan Bank, Agent shall be entitled to recover such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount forthwith upon Agent's demand therefor, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, interest on such amount in respect of each day from the date such amount was made available by Agent to Company to the date such amount is recovered by Agent, at a rate per annum equal to the Applicable Interest Rate then applicable to the Term Loan. The obligation of any Term Loan Bank to fund its Percentage of the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank for another Term Loan Bank's failure to fund its Percentage of the Term Loan hereunder.

Disbursement of Term Loan. Subject to the satisfaction of the conditions of the making of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30___, 20042005, make available the amount of its Percentage of the Term Loan in immediately available funds to Agent, at the office of Agent located at 000 Xxxxxxxx Xxxxxx500 Woodward Avenue, Detroit, Michigan 48226. Agent shall make available to Company xxxxxxxxx xx Xxxxxxx not later than 4:00 p.m. (Detroit time) on such date the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party as Company may direct. Unless Agent shall have been notified by any Term Loan Bank that such Term Loan Bank does not intend to make available to Agent such Term Loan Bank's pro rata share of the Term Loan, Agent may assume that such Term Loan Bank has made such amount available to Agent on such date and may, in reliance upon such assumption, make available to Company a corresponding amount. If such amount is not in fact made available to Agent by such Term Loan Bank, Agent shall be entitled to recover such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount forthwith upon Agent's demand therefor, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, interest on such amount in respect of each day from the date such amount was made available by Agent to Company to the date such amount is recovered by Agent, at a rate per annum equal to the Applicable Interest Rate then applicable to the Term Loan. The obligation of any Term Loan Bank to fund its Percentage of the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank for another Term Loan Bank's failure to fund its Percentage of the Term Loan hereunder.

Disbursement of Term Loan. Subject On or prior to the satisfaction date ------------------------- hereof, Borrowers shall provide a Borrowing Notice to Agent specifying whether the Term Loan is to be a Prime Loan or a LIBOR Loan. If the Term Loan is to be a LIBOR Loan, the Borrowers shall have provided such Borrowing Notice at least two (2) Business Days prior to the date hereof and shall have specified the applicable Interest Period therefor. The Term Loan shall be disbursed, in full, on the date hereof. Each Lender shall make available the proceeds of the conditions of the making its Pro Rata Share of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30, 2004, make available the amount of its Percentage of the Term Loan in federal or other funds immediately available funds in St. Louis, Missouri, to Agent, Agent at the office of Agent located at 000 Xxxxxxxx Xxxxxx, Detroit, Michigan 48226its address specified in or pursuant to Section 10.8. Agent shall not be required to make any amount available to Company not later than 4:00 p.m. (Detroit time) on Borrowers hereunder except to the extent it shall have received such date amount from the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party Lenders as Company may direct. Unless set forth herein, provided, however, that -------- ------- unless Agent shall have been notified by any Term Loan Bank a Lender prior to the date hereof that such Term Loan Bank Lender does not intend to make available to Agent such Term Loan Bank's pro rata share its Pro Rata Share of the Term LoanLoan available to Agent, Agent may assume that such Term Loan Bank Lender has made such amount Pro Rata Share available to Agent on such date date, and Agent may, in reliance upon such assumption, make available to Company the Borrowers a corresponding amount. If such corresponding amount is not in fact made available to Agent by such Term Loan BankLender and Agent has made such amount available to the Borrowers, Agent shall be entitled to recover receive such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount Lender forthwith upon Agent's demand thereforits demand, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, together with interest on such amount thereon in respect of each day from during the period commencing on the date such amount was made available by Agent to Company to the Borrowers and ending on but excluding the date Agent recovers such amount is recovered by Agent, from the Lender at a rate per annum equal to the Applicable Interest Rate effective rate charged to Agent for overnight federal funds transactions with members of the Federal Reserve System for each day as determined by Agent (or in the case of a day which is not a Business Day, then for the preceding day). Agent shall (unless Agent determines that any applicable conditions specified in Section 4 have not been satisfied) make the funds so received from the Lender available to Borrowers by wiring or otherwise transferring the proceeds of such Term LoanLoan on the date hereof in accordance with any instructions for such disbursement received from the Borrowers. The obligation Borrowers hereby authorize Agent and Lenders to rely on telephonic, telegraphic, telecopy, telex or written instructions of any Term Loan Bank Person identifying himself or herself as Xxxxx Xxxx, Xxxxxx Xxxxxxxxx or Xxxxx Xxxxx (or any other individual from time to fund its Percentage time authorized to act on behalf of the Borrowers pursuant to a resolution adopted by the Board of Directors of the respective Borrowers and certified by the Secretary of the Borrowers and delivered to Agent) to furnish such instructions or to make a repayment hereunder, and on any signature which Agent or any of the Lenders in good faith believe to be genuine, and the Borrowers shall be bound thereby in the same manner as if such Person were actually authorized or such signature were genuine. Borrowers also hereby agree, jointly and severally, to indemnify Agent and the Lenders and hold Agent and the Lenders harmless from and against any and all claims, demands, damages, liabilities, losses, costs and expenses (including, without limitation, Attorneys' Fees) relating to or arising out of or in connection with the acceptance of instructions for making the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank repayments or for another Term Loan Bank's failure to fund its Percentage of converting the Term Loan hereunder, unless such acceptance results from the gross negligence or willful misconduct of Agent or a Lender, as determined by a court of competent jurisdiction.

Disbursement of Term Loan. Subject to the satisfaction of the conditions of the making of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30, 2004the date of execution of this Agreement, make available the amount of its Percentage of the Term Loan in immediately available funds to Agent, at the office of Agent located at 000 Xxxxxxxx Xxxxxx, Detroit, Michigan 48226. Agent shall make available to Company not later than 4:00 p.m. (Detroit time) on such date the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party as Company may direct. Unless Agent shall have been notified by any Term Loan Bank that such Term Loan Bank does not intend to make available to Agent such Term Loan Bank's pro rata share of the Term Loan, Agent may assume that such Term Loan Bank has made such amount available to Agent on such date and may, in reliance upon such assumption, make available to Company a corresponding amount. If such amount is not in fact made available to Agent by such Term Loan Bank, Agent shall be entitled to recover such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount forthwith upon Agent's demand therefor, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, interest on such amount in respect of each day from the date such amount was made available by Agent to Company to the date such amount is recovered by Agent, at a rate per annum equal to the Applicable Interest Rate then applicable to the Term Loan. The obligation of any Term Loan Bank to fund its Percentage of the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank for another Term Loan Bank's failure to fund its Percentage of the Term Loan hereunder.

Disbursement of Term Loan. Subject to the satisfaction of the conditions of the making of the Term Loan, each Term Loan Bank shall, not later than 2:00 p.m. (Detroit time) on June 30, 2004the date of execution of this Agreement, make available the amount of its Percentage of the Term Loan in immediately available funds to Agent, at the office of Agent located at 000 500 Xxxxxxxx Xxxxxx, Detroit, Michigan 4822648275. Agent shall make available to Company not later than 4:00 p.m. (Detroit time) on such date the aggregate of the amounts so received by it in like funds by credit to an account of Company maintained with Agent or to such other account or third party as Company may direct. Unless Agent shall have been notified by any Term Loan Bank that such Term Loan Bank does not intend to make available to Agent such Term Loan Bank's pro rata share of the Term Loan, Agent may assume that such Term Loan Bank has made such amount available to Agent on such date and may, in reliance upon such assumption, make available to Company a corresponding amount. If such amount is not in fact made available to Agent by such Term Loan Bank, Agent shall be entitled to recover such amount on demand from such Term Loan Bank. If such Term Loan Bank does not pay such amount forthwith upon Agent's demand therefor, the Agent shall promptly notify Company and Company shall pay such amount to Agent. Agent shall also be entitled to recover from such Term Loan Bank or Company, as the case may be, interest on such amount in respect of each day from the date such amount was made available by Agent to Company to the date such amount is recovered by Agent, at a rate per annum equal to the Applicable Interest Rate highest rate of interest then applicable to the Term Loan. The obligation of any Term Loan Bank to fund its Percentage of the Term Loan shall not be affected by the failure of any other Term Loan Bank to fund its Percentage of the Term Loan and no Term Loan Bank shall have any liability to the Company, the Agent, or any other Term Loan Bank for another Term Loan Bank's failure to fund its Percentage of the Term Loan hereunder.