FAILURE OF BANK TO FUND Sample Clauses

FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Pro Rata Share of any Revolving Credit Borrowing, such Bank and the Borrower severally agree to repay to the Agent, immediately upon demand by the Agent, an amount equal to such Bank's Pro Rata Share of such Revolving Credit Borrowing together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (A) in the case of the Bank, Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and thereafter at the Interest Rate then applicable to Prime Rate Loans and (B) in the case of the Borrower, the interest rate applicable at the time to Prime Rate Loans.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Ratable Portion of any Revolving Credit Borrowing, such Bank and the Borrower severally agree to repay to the Agent, immediately upon demand by the Agent, an amount equal to such Bank's Ratable Portion of such Revolving Credit Borrowing, as the case may be, together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (a) in the case of the Bank, (i) Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and (ii) thereafter, at the Interest Rate then applicable to Alternate Base Rate Loans and (b) in the case of the Borrower, the interest rate applicable at the time to Alternate Base Rate Loans.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Ratable Portion of any Revolving Credit Borrowing advanced by the Agent on behalf of the Banks on the Closing Date or thereafter (whether advanced by KCCI on behalf of the Banks pursuant to Section 2.4(c), the Agent on behalf of the Banks pursuant to Section 2.4(d), or the Banks otherwise pursuant to this Agreement), such Bank agrees to pay, and the Borrower agrees to repay to the Agent, severally and not jointly and severally, immediately upon demand by the Agent, an amount equal to such Bank's Ratable Portion of such Revolving Credit Borrowing, together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (A) in the case of the Bank, Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and thereafter at the Interest Rate then applicable to Alternate Base Rate Advances of such Borrowings and (B) in the case of the Borrower, the interest rate applicable at the time to such Borrowings.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Administrative Agent such Bank's Ratable Portion of any Revolving Credit Borrowing (pursuant to either Section 2.3 of this Agreement or pursuant to Section 2.11(g) hereof in connection with Deemed Credit Requests for Revolving Credit Advances to pay unpaid reimbursement obligations for Letters of Credit hereunder) or any Term Advance pursuant to Section 2.6 hereof, or any Bank fails to make available to the Administrative Agent the amount of such Bank's participation purchase price payable for its participating interest in the unpaid reimbursement obligations with respect to Letters of Credit pursuant to Section 2.11(g) hereof, such Bank shall pay such amount to the Administrative Agent for application pursuant to this Section immediately upon demand by the Administrative Agent. To the extent that such Bank does not pay such amount to the Administrative Agent forthwith upon such demand by the Administrative Agent, the Administrative Agent shall promptly request payment thereof from the Borrower, and the Borrower shall immediately pay such amount that is actually advanced to the Administrative Agent for application pursuant to this Section. Such Bank and the Borrowers shall be severally liable to pay interest to the Administrative Agent on such amount for each day from the date such amount should otherwise have been made available to the Administrative Agent until the date such amount is paid to the Administrative Agent by such Bank of the Borrowers, at a per annum rate of interest equal to: (A) in the case of a Bank, Federal Funds Rate and (B) in the case of the Borrower, the interest rate applicable at the time to Alternate Base Rate Advances, or if such Advances are denominated in an Alternate Currency, at the interest rate applicable at the time to LIBOR Advances.
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Related to FAILURE OF BANK TO FUND

  • Failure of Condition If all of the conditions to Closing set forth above in Section 5.1.1 have not been satisfied by the Closing Date, provided the same is not the result of Developer’s failure to perform any obligation of Developer hereunder, Developer shall have the option to: (i) waive such condition and proceed to Closing hereunder; (ii) terminate this Agreement by written notice to District, whereby District will release the Initial Deposit to Developer and the Parties shall be released from any further liability or obligation hereunder except those that expressly survive termination of this Agreement; or (iii) delay Closing for up to three (3) months to permit District to satisfy the conditions to Closing set forth in Section 5.1.1. In the event Developer proceeds under clause (iii), Closing shall occur within thirty (30) days after the conditions precedent set forth in Section 5.1.1 have been satisfied, but if such conditions precedent have not been satisfied by the end of the three (3) month period, provided the same is not the result of Developer’s failure to perform any obligation of the Developer hereunder, the Developer may again proceed under clause (i) or (ii) above. The foregoing notwithstanding, Closing shall not occur after the Outside Closing Date. If Closing has not occurred by such date, this Agreement shall immediately terminate and be of no further force and effect, except those provisions that expressly survive termination.

  • Failure of Conditions None of the Company, Parent or Merger Sub may rely on the failure of any condition set forth in Section 7.1 to be satisfied to excuse performance by such party of its obligations under this Agreement if such failure was caused by such party’s failure to act in good faith and in a manner consistent with the terms of this Agreement.

  • No Failure to Cure Default The Seller has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;

  • Obligation to Notify Change In the event that any of the representations or warranties made/given by a Party ceases to be true or stands changed, the Party who had made such representation or given such warranty shall promptly notify the other of the same.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.

  • FAILURE OF PAYMENT 9.7.1 If the Architect does not issue a Certificate for Payment, through no fault of the Contractor, within seven days after receipt of the Contractor's Application for Payment, or if the State does not pay the Contractor within seven days after the date established in the Contract Documents any amount certified by the Architect or awarded by alternative dispute resolution proceedings, then the Contractor may, upon seven additional days written notice to the State and the Architect, stop the Work until payment of the amount owing has been received. The Contract Sum shall be increased by the amount of the Contractor's reasonable costs of shut-down, delay and start-up, which shall be effected by appropriate Change Order in accordance with Paragraph 12.3.

  • Failure to Cure If DSHS learns of a pattern or practice of the Business Associate that constitutes a violation of the Business Associate’s obligations under the terms of this Contract and reasonable steps by DSHS do not end the violation, DSHS shall terminate this Contract, if feasible. In addition, If Business Associate learns of a pattern or practice of its Subcontractors that constitutes a violation of the Business Associate’s obligations under the terms of their contract and reasonable steps by the Business Associate do not end the violation, Business Associate shall terminate the Subcontract, if feasible.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • Failure of Third Parties The failure of any third party including: (a) any issuer of Investments or Book-Entry Agent or other agent of an issuer; (b) any counterparty with respect to any Investment, including any issuer of exchange-traded or other futures, option, derivative or commodities contract; (c) failure of an Investment Advisor, foreign custody manager or other agent of the Fund; or (d) failure of other third parties similarly beyond the control or choice of the Custodian.

  • Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the calendar month in which the tenth anniversary of the calendar day following the Bank Closing occurs, the Assuming Bank shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Stated Threshold less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Bank shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Bank, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.

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