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. (b) Provided that the applicable conditions set forth in Article 4. for such Borrowing of Syndicate Loans are fulfilled, the Administrative Agent will make the proceeds of such Borrowing of Syndicate Loans available to the Borrower at the account specified by the Borrower in such Notice of Syndicate Borrowing. (c) If, with respect to Syndicate Loans to be made after the Effective Date: (i) a Lender (such Lender being hereinafter referred to as a "Defaulting Lender") does not make the amount of such Lender's Syndicate Loan available to the Administrative Agent; (ii) such Lender has not notified the Administrative Agent that it will not make such amount available to the Administrative Agent; and (iii) the Administrative Agent has nevertheless made available to the Borrower the amount of the Syndicate Loan to be provided by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such Defaulting Lender does not pay such corresponding amount immediately upon the Administrative Agent's demand, the Administrative Agent shall promptly notify the Borrower and the Borrower shall promptly (but in no event later than one Business Day after such demand) pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from such Defaulting Lender interest on such corresponding amount for each day from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent at a rate per annum equal to the applicable Federal Funds Rate. The Administrative Agent shall be entitled to recover from the Borrower the amount of interest accruing on such amount of such Syndicate Loan at the rate therefor in accordance with its Type; provided, however, any amount paid by the Defaulting Lender pursuant to the immediately preceding sentence shall reduce the amounts owed by the Borrower under this sentence. The Administrative Agent shall also be entitled to recover from the Borrower and such Defaulting Lender an amount equal to any costs (including reasonable legal expenses) and losses incurred as a result of the failure of such Defaulting Lender to provide such amount as provided in this Agreement. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its commitments hereunder or to prejudice any rights which the Borrower may have against any Defaulting Lender, including, without limitation, the right of the Borrower to seek reimbursement from any Defaulting Lender for any amounts paid by the Borrower under this Section because of such Defaulting Lender's default. If the Borrower and the Defaulting Lender fail to reimburse the Administrative Agent as provided above, in addition to the rights the Administrative Agent may have under Applicable Law or under this Agreement, the Administrative Agent shall be subrogated to the rights of such Defaulting Lender under this Agreement to the extent of such failure and shall thereafter (until such Defaulting Lender shall so reimburse the Administrative Agent) be entitled to the percentage of voting rights of such Defaulting Lender under this Agreement.

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. (b) Provided that the applicable conditions set forth in Article 46. for such Borrowing of Syndicate Loans are fulfilled, the Administrative Agent will make the proceeds of such Borrowing of Syndicate Loans available to the Borrower at the account specified by the Borrower in such Notice of Syndicate Borrowing. (c) If, with respect to Syndicate Loans to be made after the Effective Date: (i) a Lender (such Lender being hereinafter referred to as a "Defaulting Lender") does not make the amount of such Lender's Syndicate Loan available to the Administrative AgentAgent (including any Syndicate Loan to be made pursuant to Section 2.12.); (ii) such Lender has not notified the Administrative Agent that it will not make such amount available to the Administrative Agent; and (iii) the Administrative Agent has nevertheless made available to the Borrower the amount of the Syndicate Loan to be provided by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such Defaulting Lender does not pay such corresponding amount immediately upon the Administrative Agent's demand, the Administrative Agent shall promptly notify the Borrower and the Borrower shall promptly (but in no event later than one Business Day after such demand) pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from such Defaulting Lender interest on such corresponding amount for each day from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent at a rate per annum equal to the applicable Federal Funds Rate. The Administrative Agent shall be entitled to recover from the Borrower the amount of interest accruing on such amount of such Syndicate Loan at the rate therefor in accordance with its Type; provided, however, any amount paid by the Defaulting Lender pursuant to the immediately preceding sentence shall reduce the amounts owed by the Borrower under this sentence. The Administrative Agent shall also be entitled to recover from the Borrower and such Defaulting Lender an amount equal to any costs (including reasonable legal expenses) and losses incurred as a result of the failure of such Defaulting Lender to provide such amount as provided in this Agreement. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its commitments hereunder or to prejudice any rights which the Borrower may have against any Defaulting Lender, including, without limitation, the right of the Borrower to seek reimbursement from any Defaulting Lender for any amounts paid by the Borrower under this Section because of such Defaulting Lender's default. If the Borrower and the Defaulting Lender fail to reimburse the Administrative Agent as provided above, in addition to the rights the Administrative Agent may have under Applicable Law or under this Agreement, the Administrative Agent shall be subrogated to the rights of such Defaulting Lender under this Agreement to the extent of such failure and shall thereafter (until such Defaulting Lender shall so reimburse the Administrative Agent) be entitled to the percentage of voting rights of such Defaulting Lender under this Agreement.

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. (b) Provided that the applicable conditions set forth in Article 46. for such Borrowing of Syndicate Loans are fulfilled, the Administrative Agent will make the proceeds of such Borrowing of Syndicate Loans available to the Borrower at the account specified by the Borrower in such Notice of Syndicate Borrowing. (c) If, with respect to Syndicate Loans to be made after the Effective Date: (i) a Lender (such Lender being hereinafter referred to as a "Defaulting Lender") does not make the amount of such Lender's Syndicate Loan available to the Administrative AgentAgent (including any Syndicate Loan to be made pursuant to Section 2.12.); (ii) such Lender has not notified the Administrative Agent that it will not make such amount available to the Administrative Agent; and (iii) the Administrative Agent has nevertheless made available to the Borrower the amount of the Syndicate Loan to be provided by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand from such Defaulting Lender. If such Defaulting Lender does not pay such corresponding amount immediately upon the Administrative Agent's demand, the Administrative Agent shall promptly notify the Borrower and the Borrower shall promptly (but in no event later than one Business Day after such demand) pay such corresponding amount to the Administrative Agent. The Administrative Agent shall also be entitled to recover from such Defaulting Lender interest on such corresponding amount for each day from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent at a rate per annum equal to the applicable Federal Funds Rate. The Administrative Agent shall be entitled to recover from the Borrower the amount of interest accruing on such amount of such Syndicate Loan at the rate therefor in accordance with its Type; provided, however, any amount paid by the Defaulting Lender pursuant to the immediately preceding sentence shall reduce the amounts owed by the Borrower under this sentence. The Administrative Agent shall also be entitled to recover from the Borrower and such Defaulting Lender an amount equal to any costs (including reasonable legal expenses) and losses incurred as a result of the failure of such Defaulting Lender to provide such amount as provided in this Agreement. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its commitments hereunder or to prejudice any rights which the Borrower may have against any Defaulting Lender, including, without limitation, the right of the Borrower to seek reimbursement from any Defaulting Lender for any amounts paid by the Borrower under this Section because of such Defaulting Lender's default. If the Borrower and the Defaulting Lender fail to reimburse the Administrative Agent as provided above, in addition to the rights the Administrative Agent may have under Applicable Law or under this Agreement, the Administrative Agent shall be subrogated to the rights of such Defaulting Lender under this Agreement to the extent of such failure and shall thereafter (until such Defaulting Lender shall so reimburse the Administrative Agent) be entitled to the percentage of voting rights of such Defaulting Lender under this Agreement.also