Common use of Distribution of Interest Payments by Issuing Bank Clause in Contracts

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 if an LC Disbursement had been made, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section 3.3C(i) for all or any portion of such LC Disbursement, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such LC Disbursement such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement is reimbursed by the Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Taylor Morrison Home Corp), Credit Agreement (Taylor Morrison Home Corp)

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Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 if an LC Disbursement had been made, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section 3.3C(i) for all or any portion of such LC Disbursement, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such LC Disbursement such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement is reimbursed by the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Taylor Morrison Home Corp)

Distribution of Interest Payments by Issuing Bank. Promptly ------------------------------------------------- upon receipt by any Issuing Bank of any payment of interest pursuant to Section subsection 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement honored drawing or payment under a Letter of Credit issued by such Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section subsection 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section subsection 3.2 if an LC Disbursement no drawing had been madehonored or payment had been made under such Letter of Credit, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section subsection 3.3C(i) for all or any portion of such LC Disbursementdrawing or payment, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section subsection 3.3C(i) with respect to such LC Disbursement drawing or payment such other Revolving Loan Lender’s 's Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing or payment so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement drawing or payment is reimbursed by the Borrowers.Company. Any such distribution shall be made to a Lender at its Lending Office set forth on Schedule 2.1 or at such other address as such Lender may request. ------------

Appears in 1 contract

Samples: Credit Agreement (Microclock Inc)

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section subsection 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement honored drawing or payment under a Letter of Credit issued by such Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section subsection 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section subsection 3.2 if an LC Disbursement no drawing had been madehonored or payment had been made under such Letter of Credit, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section subsection 3.3C(i) for all or any portion of such LC Disbursementdrawing or payment, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section subsection 3.3C(i) with respect to such LC Disbursement drawing or payment such other Revolving Loan Lender’s 's Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing or payment so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement drawing or payment is reimbursed by the BorrowersCompany. Any such distribution shall be made to a Lender at its Lending Office set forth on Schedule 2.1 or at such other address as such Lender may request.

Appears in 1 contract

Samples: Credit Agreement (Wellman North America Inc)

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 if an LC Disbursement had been made, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section 3.3C(i) for all or any portion of such LC Disbursement, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such LC Disbursement such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement is reimbursed by the BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Taylor Morrison Home Corp)

Distribution of Interest Payments by Issuing Bank. Promptly upon ------------------------------------------------- receipt by any Issuing Bank of any payment of interest pursuant to Section subsection 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement honored drawing or payment under a Letter of Credit issued by such Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section subsection 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section subsection 3.2 if an LC Disbursement no drawing had been madehonored or payment had been made under such Letter of Credit, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section subsection 3.3C(i) for all or any portion of such LC Disbursementdrawing or payment, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section subsection 3.3C(i) with respect to such LC Disbursement drawing or payment such other Revolving Loan Lender’s 's Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing or payment so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement drawing or payment is reimbursed by the Borrowers.Company. Any such distribution shall be made to a Lender at its Lending Office set forth in Schedule 2.1 or at such other address as such Lender may request. ------------

Appears in 1 contract

Samples: Chinese Security Agreement (Chippac LTD)

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable Honored LC Disbursement Drawing to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 if an Honored LC Disbursement Drawing had been made, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section 3.3C(i) for all or any portion of such Honored LC DisbursementDrawing, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such Honored LC Disbursement Drawing such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such Honored LC Disbursement Drawing so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such Honored LC Disbursement Drawing is reimbursed by the BorrowersBorrower.

Appears in 1 contract

Samples: Security Agreement (Brookfield Residential Properties Inc.)

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Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section subsection 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement honored drawing or payment under a Letter of Credit issued by such Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section subsection 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section subsection 3.2 if an LC Disbursement no drawing had been madehonored or payment had been made under such Letter of Credit, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section subsection 3.3C(i) for all or any portion of such LC Disbursementdrawing or payment, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section subsection 3.3C(i) with respect to such LC Disbursement drawing or payment such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing or payment so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement drawing or payment is reimbursed by the BorrowersCompany.

Appears in 1 contract

Samples: Credit Agreement (Transportation Technologies Industries Inc)

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i2.21(g)(i), (ay) such Issuing Bank shall distribute to each other Revolving Loan LenderBank, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement drawing under a Letter of Credit issued by Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Working Capital Loans pursuant to Section 3.3B2.21(e)(ii), the amount that such other Revolving Loan Lender Bank would have been entitled to receive in respect of the Letter letter of Credit credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 2.21(d)(i)(z) if an LC Disbursement no drawing had been mademade under such Letter of Credit, and (bz) in the event such if Issuing Bank shall have been reimbursed by other Revolving Loan Lenders Banks pursuant to Section 3.3C(i2.21(f) for all or any portion of such LC Disbursementdrawing, such Issuing Bank shall distribute to each other Revolving Loan Lender Bank which has paid all amounts payable by it under Section 3.3C(i2.21(f) with respect to such LC Disbursement drawing such other Revolving Loan Lender’s Bank's Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing so reimbursed by other Revolving Loan Lenders Banks for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders Banks to and including the date on which such portion of such LC Disbursement drawing is reimbursed by Company. Any such distribution shall be made to a Bank at its primary address set forth below its name on the Borrowersappropriate signature page hereof or at such other address as such Bank may request.

Appears in 1 contract

Samples: Revolving Loan Agreement (Atlantic Gulf Communities Corp)

Distribution of Interest Payments by Issuing Bank. Promptly upon receipt by any Issuing Bank of any payment of interest pursuant to Section 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section 3.2 if an LC Disbursement had been made, and (b) in the event such Issuing Bank shall 67 CREDIT AGREEMENT have been reimbursed by other Revolving Loan Lenders pursuant to Section 3.3C(i) for all or any portion of such LC Disbursement, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such LC Disbursement such other Revolving Loan Lender’s Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement is reimbursed by the BorrowersBorrower.

Appears in 1 contract

Samples: Credit Agreement (Taylor Morrison Home Corp)

Distribution of Interest Payments by Issuing Bank. Promptly upon ------------------------------------------------- receipt by any Issuing Bank of any payment of interest pursuant to Section subsection 3.3D(i), (a) such Issuing Bank shall distribute to each other Revolving Loan Lender, out of the interest received by such Issuing Bank in respect of the period from the date of the applicable LC Disbursement honored drawing or payment under a Letter of Credit issued by such Issuing Bank to but excluding the date on which such Issuing Bank is reimbursed for the amount of such drawing or payment (including any such reimbursement out of the proceeds of Revolving Loans pursuant to Section subsection 3.3B), the amount that such other Revolving Loan Lender would have been entitled to receive in respect of the Letter of Credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to Section subsection 3.2 if an LC Disbursement no drawing had been madehonored or payment had been made under such Letter of Credit, and (b) in the event such Issuing Bank shall have been reimbursed by other Revolving Loan Lenders pursuant to Section subsection 3.3C(i) for all or any portion of such LC Disbursementdrawing or payment, such Issuing Bank shall distribute to each other Revolving Loan Lender which has paid all amounts payable by it under Section subsection 3.3C(i) with respect to such LC Disbursement drawing or payment such other Revolving Loan Lender’s 's Pro Rata Share of any interest received by such Issuing Bank in respect of that portion of such LC Disbursement drawing or payment so reimbursed by other Revolving Loan Lenders for the period from the date on which such Issuing Bank was so reimbursed by other Revolving Loan Lenders to and including the date on which such portion of such LC Disbursement drawing or payment is reimbursed by the BorrowersCompany. Any such distribution shall be made to a Lender at its Lending Office set forth in Schedule 2.1 or at such other ------------ address as such Lender may request.

Appears in 1 contract

Samples: Credit Agreement (Chippac Inc)

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