Common use of Domestic Settlement Loans Clause in Contracts

Domestic Settlement Loans. (a) To facilitate the administration of the Domestic Syndicated Loans under this Agreement, the Lenders agree (which agreement shall neither be for the benefit of, nor enforceable by, Borrower) that settlement among the Lenders with respect to the Domestic Syndicated Loans will take place weekly on the same day of the week established by the Domestic Settlement Loan Lender or, if any such day is not a Business Day, then the immediately following Business Day (each such day, a “Domestic Settlement Date”), which may occur (i) before or after the occurrence or during the continuance of a Default or Event of Default and (ii) whether or not all of the conditions set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied; provided that any such Settlement Loan for which settlement is to be made must have been advanced before the date on which the Domestic Syndicated Loan Commitments have been terminated pursuant to Article 9. On each Domestic Settlement Date, payment shall be made by or to each Lender in the manner provided herein and in accordance with a written report delivered by the Domestic Agent to the Lenders with respect to such Domestic Settlement Date so that, as of each Domestic Settlement Date, each Lender shall hold its Pro Rata Share of all Domestic Syndicated Loans then outstanding. As of the Restatement Date, the Domestic Agent intends to request settlement with the Lender once every five (5) Domestic Business Days. (b) Between Domestic Settlement Dates, the Domestic Agent may request the Domestic Settlement Loan Lender to advance, and the Domestic Settlement Loan Lender may, but shall not be obligated to, advance to the Borrower out of the Domestic Settlement Loan Lender’s own funds the entire principal amount of any Advance (which is to comprise Domestic Syndicated Loans and is to be made as a Base Rate Advance) requested or deemed requested pursuant to this Agreement (any such Domestic Syndicated Loan funded exclusively by the Domestic Settlement Loan Lender being referred to as a “Domestic Settlement Loan”). The aggregate principal amount of the Domestic Settlement Loans outstanding at any time shall not exceed $10,000,000, and each Domestic Settlement Loan shall be in any amount to which the Domestic Agent and the Domestic Settlement Loan Lender agree. Each Domestic Settlement Loan shall constitute a Domestic Syndicated Loan hereunder and shall be subject to all of the terms, conditions and security applicable to other Domestic Syndicated Loans, except that all payments thereon shall be payable to the Domestic Settlement Loan Lender solely for its own account. (c) The obligation of the Borrower to repay the Domestic Settlement Loans made to it shall be evidenced by the records of the Domestic Settlement Loan Lender and need not be evidenced by any promissory note (unless requested by the Domestic Settlement Loan Lender). The Domestic Agent shall not request the Domestic Settlement Loan Lender to make any Domestic Settlement Loan if (i) the Domestic Agent shall have actual knowledge that, or shall have received written notice from any Lender that, one or more of the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein will not be satisfied on the requested funding date for the applicable Borrowing or (ii) the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02. The Domestic Settlement Loan Lender shall not otherwise be required to determine whether the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied or the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02 before making, in its sole discretion, any Domestic Settlement Loan. (d) On each Domestic Settlement Date, or, if earlier, upon demand by the Domestic Agent for payment thereof, the then outstanding Domestic Settlement Loans shall be immediately due and payable. The Borrower shall be deemed to have requested Domestic Syndicated Loans to be made on each Domestic Settlement Date in the amount of all outstanding Domestic Settlement Loans and the proceeds of such Domestic Syndicated Loans shall be applied to the repayment of such Domestic Settlement Loans. The Domestic Agent shall notify the Lenders of the outstanding balance of Domestic Syndicated Loans prior to 12:00 noon, Charlotte, North Carolina, time, on such funding date. (e) The proceeds of Domestic Settlement Loans may be used solely for purposes for which Domestic Syndicated Loans may be used in accordance with Section 2.07 hereof. (f) If any amounts received by the Domestic Settlement Loan Lender in respect of any Domestic Settlement Loans are later required to be returned or repaid by the Domestic Settlement Loan Lender to the Borrower, or its representatives or successors-in-interest, whether by court order, settlement or otherwise, each Lender shall, upon demand by the Domestic Settlement Loan Lender with notice to Domestic Agent, pay to the Domestic Agent for the account of the Domestic Settlement Loan Lender an amount equal to such Lender’s Pro Rata Share of all such amounts required to be returned by the Domestic Settlement Loan Lender.

Domestic Settlement Loans. (a) To facilitate the administration of the Domestic Syndicated Loans under this Agreement, the Lenders agree (which agreement shall neither be for the benefit of, nor enforceable by, any Borrower) that settlement among the Lenders with respect to the Domestic Syndicated Loans will take place weekly on the same day of the week established by the Domestic Settlement Loan Lender or, if any such day is not a Business Day, then the immediately following Business Day (each such day, a “Domestic Settlement Date”"DOMESTIC SETTLEMENT DATE"), which may occur (i) before or after the occurrence or during the continuance of a Default or Event of Default and (ii) whether or not all of the conditions set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied; provided PROVIDED, that any such Settlement Loan for which settlement is to be made must have been advanced before the date on which the Domestic Syndicated Loan Commitments have been terminated pursuant to Article 9. On each Domestic Settlement Date, payment shall be made by or to each Lender in the manner provided herein and in accordance with a written report delivered by the Domestic Agent to the Lenders with respect to such Domestic Settlement Date so that, as of each Domestic Settlement Date, each Lender shall hold its Pro Rata Share of all Domestic Syndicated Loans then outstanding. As of the Restatement Closing Date, the Domestic Agent intends to request settlement with the Lender once every five (5) Domestic Business Days. (b) Between Domestic Settlement Dates, the Domestic Agent may request the Domestic Settlement Loan Lender to advance, and the Domestic Settlement Loan Lender may, but shall not be obligated to, advance to the Domestic Borrower or, subject to the limitations set forth herein, the Additional Domestic Borrower out of the Domestic Settlement Loan Lender’s 's own funds the entire principal amount of any Advance (which is to comprise Domestic Syndicated Loans and is to be made as a Base Rate Advance) requested or deemed requested pursuant to this Agreement (any such Domestic Syndicated Loan funded exclusively by the Domestic Settlement Loan Lender being referred to as a “Domestic Settlement Loan”"DOMESTIC SETTLEMENT LOAN"). The aggregate principal amount of the Domestic Settlement Loans outstanding at any time shall not exceed $10,000,000, and each Domestic Settlement Loan shall be in any amount to which the Domestic Agent and the Domestic Settlement Loan Lender agree. Each Domestic Settlement Loan shall constitute a Domestic Syndicated Loan hereunder and shall be subject to all of the terms, conditions and security applicable to other Domestic Syndicated Loans, except that all payments thereon shall be payable to the Domestic Settlement Loan Lender solely for its own account. (c) The obligation of each of the Domestic Borrower and the Additional Domestic Borrower to repay the Domestic Settlement Loans made to it shall be evidenced by the records of the Domestic Settlement Loan Lender and need not be evidenced by any promissory note (unless requested by the Domestic Settlement Loan Lender). The Domestic Agent shall not request the Domestic Settlement Loan Lender to make any Domestic Settlement Loan if (i) the Domestic Agent shall have actual knowledge that, or shall have received written notice from any Lender that, one or more of the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein will not be satisfied on the requested funding date for the applicable Borrowing or (ii) the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02. The Domestic Settlement Loan Lender shall not otherwise be required to determine whether the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied or the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02 before making, in its sole discretion, any Domestic Settlement Loan. (d) On each Domestic Settlement Date, or, if earlier, upon demand by the Domestic Agent for payment thereof, the then outstanding Domestic Settlement Loans shall be immediately due and payable. The Domestic Borrower or the Additional Domestic Borrower, as applicable, shall be deemed to have requested Domestic Syndicated Loans to be made on each Domestic Settlement Date in the amount of all outstanding Domestic Settlement Loans and the proceeds of such Domestic Syndicated Loans shall be applied to the repayment of such Domestic Settlement Loans. The Domestic Agent shall notify the Lenders of the outstanding balance of Domestic Syndicated Loans prior to 12:00 noon, Charlotte, North Carolina, time, on such funding date. (e) The proceeds of Domestic Settlement Loans may be used solely for purposes for which Domestic Syndicated Loans may be used in accordance with Section 2.07 hereof. (f) If any amounts received by the Domestic Settlement Loan Lender in respect of any Domestic Settlement Loans are later required to be returned or repaid by the Domestic Settlement Loan Lender to the Domestic Borrower or the Additional Domestic Borrower, or its their respective representatives or successors-in-interest, whether by court order, settlement or otherwise, each Lender shall, upon demand by the Domestic Settlement Loan Lender with notice to Domestic Agent, pay to the Domestic Agent for the account of the Domestic Settlement Loan Lender an amount equal to such Lender’s 's Pro Rata Share of all such amounts required to be returned by the Domestic Settlement Loan Lender.

Domestic Settlement Loans. (a) To facilitate the administration of the Domestic Syndicated Loans under this Agreement, the Lenders agree (which agreement shall neither be for the benefit of, nor enforceable by, Borrower) that settlement among the Lenders with respect to the Domestic Syndicated Loans will take place weekly on the same day of the week established by the Domestic Settlement Loan Lender or, if any such day is not a Business Day, then the immediately following Business Day (each such day, a “Domestic Settlement Date”), which may occur (i) before or after the occurrence or during the continuance of a Default or Event of Default and (ii) whether or not all of the conditions set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied; provided that any such Settlement Loan for which settlement is to be made must have been advanced before the date on which the Domestic Syndicated Loan Commitments have been terminated pursuant to Article 9. On each Domestic Settlement Date, payment shall be made by or to each Lender in the manner provided herein and in accordance with a written report delivered by the Domestic Agent to the Lenders with respect to such Domestic Settlement Date so that, as of each Domestic Settlement Date, each Lender shall hold its Pro Rata Share of all Domestic Syndicated Loans then outstanding. As of the Restatement Date, the Domestic Agent intends to request settlement with the Lender once every five (5) Domestic Business Days. (b) Between Domestic Settlement Dates, the Domestic Agent may request the Domestic Settlement Loan Lender to advance, and the Domestic Settlement Loan Lender may, but shall not be obligated to, advance to the Borrower out of the Domestic Settlement Loan Lender’s own funds the entire principal amount of any Advance (which is to comprise Domestic Syndicated Loans and is to be made as a Base Rate Advance) requested or deemed requested pursuant to this Agreement (any such Domestic Syndicated Loan funded exclusively by the Domestic Settlement Loan Lender being referred to as a “Domestic Settlement Loan”). The aggregate principal amount of the Domestic Settlement Loans outstanding at any time shall not exceed $10,000,000, and each Domestic Settlement Loan shall be in any amount to which the Domestic Agent and the Domestic Settlement Loan Lender agree. Each Domestic Settlement Loan shall constitute a Domestic Syndicated Loan hereunder and shall be subject to all of the terms, conditions and security applicable to other Domestic Syndicated Loans, except that all payments thereon shall be payable to the Domestic Settlement Loan Lender solely for its own account. (c) The obligation of the Borrower to repay the Domestic Settlement Loans made to it shall be evidenced by the records of the Domestic Settlement Loan Lender and need not be evidenced by any promissory note (unless requested by the Domestic Settlement Loan Lender). The Domestic Agent shall not request the Domestic Settlement Loan Lender to make any Domestic Settlement Loan if (i) the Domestic Agent shall have actual knowledge that, or shall have received written notice from any Lender that, one or more of the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein will not be satisfied on the requested funding date for the applicable Borrowing or (ii) the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02. The Domestic Settlement Loan Lender shall not otherwise be required to determine whether the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied or the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02 before making, in its sole discretion, any Domestic Settlement Loan2. (d) On each Domestic Settlement Date, or, if earlier, upon demand by the Domestic Agent for payment thereof, the then outstanding Domestic Settlement Loans shall be immediately due and payable. The Borrower shall be deemed to have requested Domestic Syndicated Loans to be made on each Domestic Settlement Date in the amount of all outstanding Domestic Settlement Loans and the proceeds of such Domestic Syndicated Loans shall be applied to the repayment of such Domestic Settlement Loans. The Domestic Agent shall notify the Lenders of the outstanding balance of Domestic Syndicated Loans prior to 12:00 noon, Charlotte, North Carolina, time, on such funding date. (e) The proceeds of Domestic Settlement Loans may be used solely for purposes for which Domestic Syndicated Loans may be used in accordance with Section 2.07 hereof. (f) If any amounts received by the Domestic Settlement Loan Lender in respect of any Domestic Settlement Loans are later required to be returned or repaid by the Domestic Settlement Loan Lender to the Borrower, or its representatives or successors-in-interest, whether by court order, settlement or otherwise, each Lender shall, upon demand by the Domestic Settlement Loan Lender with notice to Domestic Agent, pay to the Domestic Agent for the account of the Domestic Settlement Loan Lender an amount equal to such Lender’s Pro Rata Share of all such amounts required to be returned by the Domestic Settlement Loan Lender.

Domestic Settlement Loans. (a) To facilitate the administration of the Domestic Syndicated Loans under this Agreement, the Lenders agree (which agreement shall neither be for the benefit of, nor enforceable by, Borrower) that settlement among the Lenders with respect to the Domestic Syndicated Loans will take place weekly on the same day of the week established by the Domestic Settlement Loan Lender or, if any such day is not a Business Day, then the immediately following Business Day (each such day, a “Domestic Settlement Date”), which may occur (i) before or after the occurrence or during the continuance of a Default or Event of Default and (ii) whether or not all of the conditions set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied; provided provided, that any such Settlement Loan for which settlement is to be made must have been advanced before the date on which the Domestic Syndicated Loan Commitments have been terminated pursuant to Article 9. On each Domestic Settlement Date, payment shall be made by or to each Lender in the manner provided herein and in accordance with a written report delivered by the Domestic Agent to the Lenders with respect to such Domestic Settlement Date so that, as of each Domestic Settlement Date, each Lender shall hold its Pro Rata Share of all Domestic Syndicated Loans then outstanding. As of the Restatement Closing Date, the Domestic Agent intends to request settlement with the Lender once every five (5) Domestic Business Days. (b) Between Domestic Settlement Dates, the Domestic Agent may request the Domestic Settlement Loan Lender to advance, and the Domestic Settlement Loan Lender may, but shall not be obligated to, advance to the Borrower out of the Domestic Settlement Loan Lender’s own funds the entire principal amount of any Advance (which is to comprise Domestic Syndicated Loans and is to be made as a Base Rate Advance) requested or deemed requested pursuant to this Agreement (any such Domestic Syndicated Loan funded exclusively by the Domestic Settlement Loan Lender being referred to as a “Domestic Settlement Loan”). The aggregate principal amount of the Domestic Settlement Loans outstanding at any time shall not exceed $10,000,000, and each Domestic Settlement Loan shall be in any amount to which the Domestic Agent and the Domestic Settlement Loan Lender agree. Each Domestic Settlement Loan shall constitute a Domestic Syndicated Loan hereunder and shall be subject to all of the terms, conditions and security applicable to other Domestic Syndicated Loans, except that all payments thereon shall be payable to the Domestic Settlement Loan Lender solely for its own account. (c) The obligation of the Borrower to repay the Domestic Settlement Loans made to it shall be evidenced by the records of the Domestic Settlement Loan Lender and need not be evidenced by any promissory note (unless requested by the Domestic Settlement Loan Lender). The Domestic Agent shall not request the Domestic Settlement Loan Lender to make any Domestic Settlement Loan if (i) the Domestic Agent shall have actual knowledge that, or shall have received written notice from any Lender that, one or more of the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein will not be satisfied on the requested funding date for the applicable Borrowing or (ii) the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02. The Domestic Settlement Loan Lender shall not otherwise be required to determine whether the applicable conditions precedent set forth in Article V or any other conditions to the funding or making of any Domestic Syndicated Loan contained herein have been satisfied or the requested Borrowing would exceed the amount of Domestic Syndicated Loans permitted to be made under Sections 2.01 and 2.02 before making, in its sole discretion, any Domestic Settlement Loan. (d) On each Domestic Settlement Date, or, if earlier, upon demand by the Domestic Agent for payment thereof, the then outstanding Domestic Settlement Loans shall be immediately due and payable. The Borrower shall be deemed to have requested Domestic Syndicated Loans to be made on each Domestic Settlement Date in the amount of all outstanding Domestic Settlement Loans and the proceeds of such Domestic Syndicated Loans shall be applied to the repayment of such Domestic Settlement Loans. The Domestic Agent shall notify the Lenders of the outstanding balance of Domestic Syndicated Loans prior to 12:00 noon, Charlotte, North Carolina, time, on such funding date. (e) The proceeds of Domestic Settlement Loans may be used solely for purposes for which Domestic Syndicated Loans may be used in accordance with Section 2.07 hereof. (f) If any amounts received by the Domestic Settlement Loan Lender in respect of any Domestic Settlement Loans are later required to be returned or repaid by the Domestic Settlement Loan Lender to the Borrower, or its representatives or successors-in-interest, whether by court order, settlement or otherwise, each Lender shall, upon demand by the Domestic Settlement Loan Lender with notice to Domestic Agent, pay to the Domestic Agent for the account of the Domestic Settlement Loan Lender an amount equal to such Lender’s Pro Rata Share of all such amounts required to be returned by the Domestic Settlement Loan Lender.