Common use of Disbursements of Syndicate Loans Clause in Contracts

Disbursements of Syndicate Loans. (a) No later than 12:00 noon on the date specified in the Notice of Syndicate Borrowing, each Lender will make available for the account of its applicable Lending Office to the Administrative Agent at its Principal Office, in immediately available funds, the Syndicate Loan to be made by such Lender using the wiring instructions for the Administrative Agent set forth on Annex I or as otherwise directed by the Administrative Agent. With respect to Syndicate Loans to be made after the Effective Date, unless the Administrative Agent shall have been notified by any Lender prior to the specified date of Borrowing of a Syndicate Loan that such Lender does not intend to make available to the Administrative Agent the Syndicate Loan to be made by such Lender on such date, the Administrative Agent may assume that such Lender will make the proceeds of such Syndicate Loan available to the Administrative Agent on the date of the requested Borrowing as set forth in the Notice of Syndicate Borrowing and the Administrative Agent may, in reliance upon such assumption (but shall not be obligated to), make available to the Borrower the amount of such Syndicate Loan to be provided by such Lender.