Common use of Facility Agent may assume receipt Clause in Contracts

Facility Agent may assume receipt. Where any sum is to be paid under this Agreement to the Facility Agent for the account of another person, the Facility Agent may assume that the payment will be made when due and may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Facility Agent, then the person to whom such sum was so made available shall on request refund such sum to the Facility Agent together with interest thereon sufficient to compensate the Facility Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Facility Agent for any and all loss or expense which the Facility Agent may sustain or incur as a consequence of such sum not having been paid on its due date.

Facility Agent may assume receipt. Where any sum is to be paid under this Agreement to the Facility Agent for the account of another person, the Facility Agent may assume that the payment will be made when due and the Facility Agent may (but shall not be obliged to) make such sum available to the person so entitled. If it proves to be the case that such payment was not made to the Facility Agent, then the person to whom such sum was so made available shall on request refund such sum to the Facility Agent together with interest thereon sufficient to compensate the Facility Agent for the cost of making available such sum up to the date of such repayment and the person by whom such sum was payable shall indemnify the Facility Agent and/or person to whom such sum was made available by the Facility Agent for any and all loss or expense which the Facility Agent or such person may sustain or incur as a consequence of such sum not having been paid on its due date.

Facility Agent may assume receipt. Where If and whenever any sum amount is to be paid under this Agreement to the Facility Agent for the account of another person, the Facility Agent may assume that the payment that amount will be made paid when due and the Facility Agent may (but shall not be obliged to) make such sum that amount available to the person so entitledfor whose account it is to be paid. If it proves to be the case that such payment was amount is not made paid to the Facility AgentAgent when due, then the person to whom such sum that amount was so made available shall on request refund such sum that amount to the Facility Agent together with interest thereon sufficient to compensate the Facility Agent for the cost of making available such sum that amount up to the date of such repayment refund and the person by whom such sum that amount was payable shall indemnify each of the Facility Agent for any and all loss or expense which the person to whom that amount was made available by the Facility Agent may sustain against all costs, expenses, losses and liabilities paid, suffered or incur incurred by the Facility Agent or that person as a consequence of such sum that amount not having been paid on its due datewhen due.