Common use of Failure of Lender to Fund Clause in Contracts

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest at the rate applicable to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as required.

Appears in 2 contracts

Samples: Credit Agreement (ATS Corp /ATS), Credit Agreement (ATS Corp /ATS)

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Failure of Lender to Fund. Notwithstanding section 6.1.3(athe provisions of Section 6(a) of the Provisions, if any Lender fails to deliver make available to the Agent its share Applicable Percentage of any Advance to the Agent (that such Lender being herein called the “Non-Funding Defaulting Lender”), the Administrative Agent shall immediately forthwith give notice of that such failure by the Non-Funding Defaulting Lender to the applicable Borrower and the other Lenders and indicate Lenders. The Agent shall then forthwith give notice to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Defaulting Lender’s share Applicable Percentage of that such Advance in place of the Non-Funding Lender, (but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to ) in the Agent as soon as possible for delivery by place of the Agent to the applicable BorrowerDefaulting Lender. If more than one Contributing Lender gives notice that it is prepared to make funds available in the place of a Defaulting Lender in such circumstances and the aggregate of the funds that which such Lenders (herein collectively called the Contributing Lenders Lenders” and individually called the “Contributing Lender”) are prepared to make available exceeds the amount of the Advance that which the Non-Funding Defaulting Lender failed to make, then each Contributing Lender shall be deemed to have given notice that it is prepared to make available a portion its Applicable Percentage of that such Advance based on the Contributing Lenders’ relative Commitments commitments to the Creditadvance in such circumstances. If a any Contributing Lender makes funds available in the place of a Non-Funding LenderDefaulting Lender in such circumstances, then the Non-Funding Defaulting Lender shall pay to any Contributing Lender making the Contributing Lenderfunds available in its place, immediately forthwith on demand, the any amount advanced on its behalf together with interest thereon at the rate applicable to that such Advance from the date of advance to the date of payment, and against payment by the Non-Funding Contributing Lender shall then be entitled to receive making the funds available of all interest paid received in respect of the Advance by from the applicable Borrower. The failure of any Lender to deliver make available to the Agent its Applicable Percentage of any Advance to the Agent as required herein shall not relieve any other Lender of its obligation obligations to deliver make available to the Agent its Applicable Percentage of any Advance as requiredrequired herein.

Appears in 2 contracts

Samples: Assignment and Assumption (Convergys Corp), Credit Agreement (Canwest Mediaworks Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of Unless the Provisions, if Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Loan that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion such Xxxxxx’s Proportionate Share of the Non-Funding Lender’s share of Loan (as the case may be) requested on such date, the Administrative Agent may assume that Advance in place of the Non-Funding Lender, but in no way shall any other such Lender or the Agent be obliged to do so. A Contributing Lender shall make funds has made such amount available to the Administrative Agent as soon as possible for delivery by on such date in accordance with the Section 2.1.5(b), and the Administrative Agent may, in its sole discretion and in reliance upon such assumption (but without any obligation), make available to the applicable BorrowerBorrower a corresponding amount on such date. If more than one Contributing Lender gives notice that it such corresponding amount is prepared to make funds not in fact made available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Administrative Agent by such Lender, then the Non-Funding Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two (2) Business Days from the applicable date of such Borrowing) from such Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to the Administrative Agent, at the Federal Funds Rate for the first two (2) Business Days after such date. If such Lender pays such amount to the Administrative Agent, then such amount (excluding any interest paid to the Administrative Agent thereon) shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor or within two (2) Business Days from the applicable date of such Borrowing of a Loan, the Administrative Agent may notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to the Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.5(c) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (OPAL Fuels Inc.)

Failure of Lender to Fund. Notwithstanding section 6.1.3(athe provisions of Section 6(a) of the Provisions, if any Lender fails to deliver make available to the Agent its share Applicable Percentage of any Advance to the Agent (that such Lender being herein called the “Non-Funding Defaulting Lender”), the Administrative Agent shall immediately forthwith give notice of that such failure by the Non-Funding Defaulting Lender to the applicable Borrower Borrowers and the other Lenders and indicate Lenders. The Agent shall then forthwith give notice to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Defaulting Lender’s share Applicable Percentage of that such Advance in place of the Non-Funding Lender, (but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to ) in the Agent as soon as possible for delivery by place of the Agent to the applicable BorrowerDefaulting Lender. If more than one Contributing Lender gives notice that it is prepared to make funds available in the place of a Defaulting Lender in such circumstances and the aggregate of the funds that which such Lenders (herein collectively called the Contributing Lenders Lenders” and individually called the “Contributing Lender”) are prepared to make available exceeds the amount of the Advance that which the Non-Funding Defaulting Lender failed to make, then each Contributing Lender shall be deemed to have given notice that it is prepared to make available a portion its Applicable Percentage of that such Advance based on the Contributing Lenders’ relative Commitments commitments to the Creditadvance in such circumstances. If a any Contributing Lender makes funds available in the place of a Non-Funding LenderDefaulting Lender in such circumstances, then the Non-Funding Defaulting Lender shall pay to any Contributing Lender making the Contributing Lenderfunds available in its place, immediately forthwith on demand, the any amount advanced on its behalf together with interest thereon at the rate applicable to that such Advance from the date of advance to the date of payment, and against payment by the Non-Funding Contributing Lender shall then be entitled to receive making the funds available of all interest paid received in respect of the Advance by the applicable from a Borrower. The failure of any Lender to deliver make available to the Agent its Applicable Percentage of any Advance to the Agent as required herein shall not relieve any other Lender of its obligation obligations to deliver make available to the Agent its Applicable Percentage of any Advance as requiredrequired herein.

Appears in 1 contract

Samples: Credit Agreement (Convergys Corp)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any New Lender fails to deliver its share of any Advance or Increasing Lender prior to the Agent (Restatement Date that such New Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding or Increasing Lender does not intend to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of its applicable New Term Loan or Additional Term Loan (as the Advance case may be), Administrative Agent may assume that such New Lender or Increasing Lender has made such amount available to Administrative Agent on the Non-Funding Lender failed to makeRestatement Date in accordance with the prior paragraph and Administrative Agent may, then each Contributing Lender shall in its sole discretion and in reliance upon such assumption, make available to Borrower a portion of that Advance based corresponding amount on the Contributing Lenders’ relative Commitments to the Creditsuch date. If a Contributing such corresponding amount is not in fact made available to Administrative Agent by such New Lender makes funds available in the place of a Non-Funding or Increasing Lender, then Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two Banking Days from the Non-Funding Restatement Date) from such New Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf or Increasing Lender together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Banking Days after such date. If such New Lender or Increasing Lender pays such amount to Administrative Agent, then such amount (excluding any interest paid to Administrative Agent thereon) shall constitute such Lender’s New Term Loan or Additional Term Loan (as the case may be). If such New Lender or Increasing Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor or within two Banking Days from the Restatement Date, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the Restatement Date until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.4(b) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Loan that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion such Lender’s Proportionate Share of the NonLoan (as the case may be) requested on such date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such date in accordance with the prior paragraph and Administrative Agent may, but shall not have obligation to, in its sole discretion and in reliance upon such assumption, make available to Co-Funding Lender’s share of that Advance Borrowers a corresponding amount on such date. If such corresponding amount is not in place of the Non-Funding fact made available to Administrative Agent by such Lender, but Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to event, within two Banking Days from the applicable Borrower. If more than one Contributing date of such Borrowing) from such Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Banking Days after such date. If such Lender pays such amount to Administrative Agent, then such amount (excluding any interest paid to Administrative Agent thereon) shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor or within two Banking Days from the applicable date of such Borrowing of a Loan, Administrative Agent may notify Co-Borrowers and Co-Borrowers shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate LC Loans. Nothing in this Section 2.1.7(c) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Co-Borrowers may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: First Lien Credit Agreement (Fortress Transportation & Infrastructure Investors LLC)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of 4.23.1 Unless the Provisions, if any Agent has received notice from a Lender fails to deliver its share before the proposed date of any Advance to the Agent (that such Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may will not make available to the Agent all or any portion of the Non-Funding such Lender’s share of that Advance in place of the Non-Funding Lendersuch Advance, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing may assume that such Lender shall has made such share available on such date in accordance with the provisions of this Agreement concerning funding by Lenders and may, in reliance upon such assumption, make funds available to the Borrower a corresponding amount. (The Borrower and Lenders acknowledge that, as of the date of this Agreement, it is not the Agent’s usual practice to proceed as it is entitled to do in accordance with the preceding sentence.) In that event, if a Lender has not in fact made its share of the applicable Advance available to the Agent, then the applicable Lender shall pay to the Agent as soon as possible forthwith on demand such corresponding amount with interest thereon, for delivery each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at a rate determined by the Agent in accordance with prevailing banking industry practice on interbank compensation. If such Lender pays such amount to the Agent, then such amount shall constitute such Lender’s Advance. For clarity, the Borrower shall not be responsible for payment or reimbursement of interest owing by the applicable BorrowerLender to the Agent, but shall be responsible for payment to the Lender of interest on the Advance from and including the date the amount was made available to the Borrower by the Agent. If more than one Contributing the Lender gives notice that it is prepared to make funds available and does not do so forthwith, the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender Borrower shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments pay to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately Agent forthwith on demand, the demand such corresponding amount advanced on its behalf together with interest thereon at the interest rate applicable to the Advance in question. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that Advance from the date of advance has failed to make such payment to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as requiredAgent.

Appears in 1 contract

Samples: Assignment and Assumption (Rogers Communications Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if any Lender fails to deliver its share of any Advance If and to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders extent that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make shall not have made available to the Agent all or any portion such Lender's Ratable Portion of the Non-Funding Term Loan Borrowing advanced by the Agent, such Lender’s share 's Ratable Portion of that Advance Revolving Credit Borrowing funded on the Closing Date or such Lender's Ratable Portion of any Settlement Amount in place respect of Revolving Credit Borrowings advanced by the Non-Funding LenderAgent, but in no way shall any other the Borrower agrees to repay to the Agent, immediately upon demand by the Agent, and such Lender or agrees to reimburse the Agent be obliged in the event the Borrower does not repay the Agent, an amount equal to do so. A Contributing Lender shall make funds such Lender's Ratable Portion of such Term Loan Borrowing, such Revolving Credit Borrowing and such Settlement Amount in respect of Revolving Credit Borrowings, together with interest thereon for each day from the date such amount is made available to the Agent as soon as possible for delivery by Borrower until the Agent date such amount is repaid to the Agent, at the interest rate applicable Borrowerat the time to Prime Rate Advances comprising Term Loan Borrowing or Revolving Credit Borrowings, as the case may be. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding such Lender shall pay to the Contributing Agent such Lender's Ratable Portion of the Term Loan Borrowing, immediately on demandsuch Revolving Credit Borrowing or such Settlement Amount prior to repayment of such amount by the Borrower, the amount advanced so repaid shall constitute such Lender's Ratable Portion of the Term Loan Borrowing or such Revolving Credit Borrowing or such Settlement Amount and the Borrower shall have no further obligation to make the payment required by this Section. Any interest accruing on its behalf together with interest at the rate applicable such Lender's Ratable Portion of any such Borrowings up to that Advance from and including the date of advance to repayment by the date of payment, and the Non-Funding Borrower or payment by such Lender shall then be entitled to receive all interest paid in respect for the sole account of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as requiredAgent.

Appears in 1 contract

Samples: Asset Based Loan and Security Agreement (Mazel Stores Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(athe provisions of Section 6(a) of the Provisions, if any Lender fails to deliver make available to the Agent its share Applicable Percentage of any Advance to the Agent (that such Lender being herein called the “Non-Funding Lender”"DEFAULTING LENDER"), the Administrative Agent shall immediately forthwith give notice of that such failure by the Non-Funding Defaulting Lender to the applicable Borrower and the other Lenders and indicate Lenders. The Agent shall then forthwith give notice to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Defaulting Lender’s share 's Applicable Percentage of that such Advance in place of the Non-Funding Lender, (but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to ) in the Agent as soon as possible for delivery by place of the Agent to the applicable BorrowerDefaulting Lender. If more than one Contributing Lender gives notice that it is prepared to make funds available in the place of a Defaulting Lender in such circumstances and the aggregate of the funds that which such Lenders (herein collectively called the Contributing Lenders "CONTRIBUTING LENDERS" and individually called the "CONTRIBUTING LENDER") are prepared to make available exceeds the amount of the Advance that which the Non-Funding Defaulting Lender failed to make, then each Contributing Lender shall be deemed to have given notice that it is prepared to make available a portion its Applicable Percentage of that such Advance based on the Contributing Lenders' relative Commitments commitments to the Creditadvance in such circumstances. If a any Contributing Lender makes funds available in the place of a Non-Funding LenderDefaulting Lender in such circumstances, then the Non-Funding Defaulting Lender shall pay to any Contributing Lender making the Contributing Lenderfunds available in its place, immediately forthwith on demand, the any amount advanced on its behalf together with interest thereon at the rate applicable to that such Advance from the date of advance to the date of payment, and against payment by the Non-Funding Contributing Lender shall then be entitled to receive making the funds available of all interest paid received in respect of the Advance by from the applicable Borrower. The failure of any Lender to deliver make available to the Agent its Applicable Percentage of any Advance to the Agent as required herein shall not relieve any other Lender of its obligation obligations to deliver make available to the Agent its Applicable Percentage of any Advance as requiredrequired herein.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Loan that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion such Lender’s Proportionate Share of the NonLoan (as the case may be) requested on such date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such date in accordance with the prior paragraph and Administrative Agent may, but shall not have obligation to, in its sole discretion and in reliance upon such assumption, make available to Co-Funding Lender’s share of that Advance Borrowers a corresponding amount on such date. If such corresponding amount is not in place of the Non-Funding fact made available to Administrative Agent by such Lender, but Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to event, within two Banking Days from the applicable Borrower. If more than one Contributing date of such Borrowing) from such Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Banking Days after such date. If such Lender pays such amount to Administrative Agent, then such amount (excluding any interest paid to Administrative Agent thereon) shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor or within two Banking Days from the applicable date of such Borrowing of a Loan, Administrative Agent may notify Co-Borrowers and Co-Borrowers shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for such Loans. Nothing in this Section 2.1.7(c) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Co-Borrowers may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Fortress Transportation & Infrastructure Investors LLC)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of 4.25.1 Unless the Provisions, if any Agent has received notice from a Lender fails to deliver its share before the proposed date of any Advance to the Agent (that such Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may will not make available to the Agent all or any portion of the Non-Funding such Lender’s share of that Advance in place of the Non-Funding Lendersuch Advance, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing may assume that such Lender shall has made such share available on such date in accordance with the provisions of this Agreement concerning funding by Lenders and may, in reliance upon such assumption, make funds available to the Borrower a corresponding amount. (The Borrower and Lenders acknowledge that, as of the date of this Agreement, it is not the Agent’s usual practice to proceed as it is entitled to do in accordance with the preceding sentence.) In that event, if a Lender has not in fact made its share of the applicable Advance available to the Agent, then the applicable Lender shall pay to the Agent as soon as possible forthwith on demand such corresponding amount with interest thereon, for delivery each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at a rate determined by the Agent in accordance with prevailing banking industry practice on interbank compensation. If such Lender pays such amount to the Agent, then such amount shall constitute such Lender’s Advance. For clarity, the Borrower shall not be responsible for payment or reimbursement of interest owing by the applicable BorrowerLender to the Agent, but shall be responsible for payment to the Lender of interest on the Advance from and including the date the amount was made available to the Borrower by the Agent. If more than one Contributing the Lender gives notice that it is prepared to make funds available and does not do so forthwith, the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender Borrower shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments pay to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately Agent forthwith on demand, the demand such corresponding amount advanced on its behalf together with interest thereon at the interest rate applicable to the Advance in question. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that Advance from the date of advance has failed to make such payment to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as requiredAgent.

Appears in 1 contract

Samples: Assignment and Assumption (Rogers Communications Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of Unless the Provisions, if Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Loan that such Xxxxxx does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion such Xxxxxx’s Proportionate Share of the Non-Funding Lender’s share of Loan (as the case may be) requested on such date, the Administrative Agent may assume that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds such Xxxxxx has made such amount available to the Administrative Agent as soon as possible for delivery by on such date in accordance with the Section 2.1.5(b), and the Administrative Agent may, in its sole discretion and in reliance upon such assumption (but without any obligation), make available to the applicable BorrowerBorrower a corresponding amount on such date. If more than one Contributing Lender gives notice that it such corresponding amount is prepared to make funds not in fact made available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Administrative Agent by such Lender, then the Non-Funding Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two (2) Business Days from the applicable date of such Borrowing) from such Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to the Administrative Agent, at the Federal Funds Rate for the first two (2) Business Days after such date. If such Lender pays such amount to the Administrative Agent, then such amount (excluding any interest paid to the Administrative Agent thereon) shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor or within two (2) Business Days from the applicable date of such Borrowing of a Loan, the Administrative Agent may notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to the Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.5(c) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (OPAL Fuels Inc.)

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Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of such Lender's Proportionate Share of the Advance Loan requested on such date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such date in accordance with the Non-Funding Lender failed to makeprior paragraph and Administrative Agent may, then each Contributing Lender shall in its sole discretion and in reliance upon such assumption, make available to Borrowers a portion of that Advance based corresponding amount on the Contributing Lenders’ relative Commitments to the Creditsuch date. If a Contributing Lender makes funds such corresponding amount is not in fact made available in the place of a Non-Funding to Administrative Agent by such Lender, then Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two Business Days from the Non-Funding applicable date of such Borrowing) from such Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Business Days after such date. If such Lender pays such amount to Administrative Agent, then such amount shall constitute such Lender's Proportionate Share of such Loan included in such Loan. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent's demand therefor or within two Business Days from the applicable date of such Borrowing, Administrative Agent shall promptly notify Borrowers and Borrowers shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.7(d) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Borrowers may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Renegy Holdings, Inc.)

Failure of Lender to Fund. Notwithstanding the provisions of section 6.1.3(a6(a) of the Provisions, if any Lender fails to deliver make available to the Agent its share Applicable Percentage of any Advance to the Agent (that such Lender being herein called the “Non-Funding "Defaulting Lender"), the Agent shall immediately forthwith give notice of that such failure by the Non-Funding Defaulting Lender to the applicable relevant Borrower and the other Lenders and indicate Lenders. The Agent shall then forthwith give notice to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Defaulting Lender’s share 's Applicable Percentage of that such Advance in place of the Non-Funding Lender, (but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to ) in the Agent as soon as possible for delivery by place of the Agent to the applicable BorrowerDefaulting Lender. If more than one Contributing Lender gives notice that it is prepared to make funds available in the place of a Defaulting Lender in such circumstances and the aggregate of the funds that which such Lenders (herein collectively called the "Contributing Lenders Lenders" and individually called the "Contributing Lender") are prepared to make available exceeds the amount of the Advance that which the Non-Funding Defaulting Lender failed to make, then each Contributing Lender shall be deemed to have given notice that it is prepared to make available a portion its Applicable Percentage of that such Advance based on the Contributing Lenders' relative Commitments commitments to the Creditadvance in such circumstances. If a any Contributing Lender makes funds available in the place of a Non-Funding LenderDefaulting Lender in such circumstances, then the Non-Funding Defaulting Lender shall pay to any Contributing Lender making the Contributing Lenderfunds available in its place, immediately forthwith on demand, the any amount advanced on its behalf together with interest thereon at the rate applicable to that such Advance from the date of advance to the date of payment, and against payment by the Non-Funding Contributing Lender shall then be entitled to receive making the funds available of all interest paid received in respect of the Advance by from the applicable relevant Borrower. The failure of any Lender to deliver make available to the Agent its Applicable Percentage of any Advance to the Agent as required herein shall not relieve any other Lender of its obligation obligations to deliver make available to the Agent its Applicable Percentage of any Advance as requiredrequired herein.

Appears in 1 contract

Samples: Credit Agreement (CHC Helicopter Corp)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of such Lender’s Proportionate Share of the Advance Loan requested on such date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such date in accordance with the Non-Funding Lender failed to makeprior paragraph and Administrative Agent may, then each Contributing Lender shall in its sole discretion and in reliance upon such assumption, make available to Borrower a portion of that Advance based corresponding amount on the Contributing Lenders’ relative Commitments to the Creditsuch date. If a Contributing Lender makes funds such corresponding amount is not in fact made available in the place of a Non-Funding to Administrative Agent by such Lender, then Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two Business Days from the Non-Funding applicable date of such Borrowing) from such Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Business Days after such date. If such Lender pays such amount to Administrative Agent, then such amount shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor or within two Business Days from the applicable date of such Borrowing, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Any amounts repaid by Borrower pursuant to that Advance from this Section 2.1.4(d) shall be available for re-borrowing if (i) the date non-funding Lender makes available to Administrative Agent the amount of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect such Lender’s Proportionate Share of the Advance by the applicable BorrowerLoan requested, including interest thereon, or (ii) a substitute Lender advances such repaid amounts pursuant to Section 11.14. The failure of Nothing in this Section 2.1.4(d) shall be deemed to relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (First Wind Holdings Inc.)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if Unless Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Construction Loan or Term Loan that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of such Lender's Proportionate Share of the Advance Construction Loan or Term Loan (as the case may be) requested on such date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such date in accordance with the Non-Funding Lender failed to makeprior paragraph and Administrative Agent may, then each Contributing Lender shall in its sole discretion and in reliance upon such assumption, make available to Borrower a portion of that Advance based corresponding amount on the Contributing Lenders’ relative Commitments to the Creditsuch date. If a Contributing Lender makes funds such corresponding amount is not in fact made available in the place of a Non-Funding to Administrative Agent by such Lender, then Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two Banking Days from the Non-Funding applicable date of such Borrowing) from such Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the Federal Funds Rate for the first two Banking Days after such date. If such Lender pays such amount to Administrative Agent, then such amount (excluding any interest paid to Administrative Agent thereon) shall constitute such Lender's Proportionate Share of such Construction Loan or Term Loan (as the case may be) included in such Construction Loan or Term Loan (as the case may be). If such Lender does not pay such corresponding amount forthwith upon Administrative Agent's demand therefor or within two Banking Days from the applicable date of such Borrowing of a Construction Loan or Term Loan (as the case may be), Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.5(d) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of 4.24.1 Unless the Provisions, if any Agent has received notice from a Lender fails to deliver its share before the proposed date of any Advance to the Agent (that such Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may will not make available to the Agent all or any portion of the Non-Funding such Lender’s share of that Advance in place of the Non-Funding Lendersuch Advance, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing may assume that such Lender shall has made such share available on such date in accordance with the provisions of this Agreement concerning funding by Lenders and may, in reliance upon such assumption, make funds available to the Borrower a corresponding amount. (The Borrower and Lenders acknowledge that, as of the date of this Agreement, it is not the Agent’s usual practice to proceed as it is entitled to do in accordance with the preceding sentence.) In that event, if a Lender has not in fact made its share of the applicable Advance available to the Agent, then the applicable Lender shall pay to the Agent as soon as possible forthwith on demand such corresponding amount with interest thereon, for delivery each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agent, at a rate determined by the Agent in accordance with prevailing banking industry practice on interbank compensation. If such Lender pays such amount to the Agent, then such amount shall constitute such Lender’s Advance. For clarity, the Borrower shall not be responsible for payment or reimbursement of interest owing by the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available the Agent, but shall be responsible for payment to the Lender of interest on the Advance from and including the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds date the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make was made available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the CreditBorrower by the Agent. So If a Contributing the Lender makes funds available in does not do so forthwith, the place of a Non-Funding Lender, then the Non-Funding Lender Borrower shall pay to the Contributing Lender, immediately Agent forthwith on demand, the demand such corresponding amount advanced on its behalf together with interest thereon at the interest rate applicable to the Advance in question. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that Advance from the date of advance has failed to make such payment to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as requiredAgent.

Appears in 1 contract

Samples: Assignment and Assumption (Rogers Communications Inc)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of Unless the Provisions, if Administrative Agent shall have been notified by any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender prior to the applicable Borrower and the other Lenders and indicate date of a Borrowing of a Loan that such Lender does not intend to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Administrative Agent all or any portion such Lender’s Proportionate Share of the Non-Funding Lender’s share of Loan (as the case may be) requested on such date, the Administrative Agent may assume that Advance in place of the Non-Funding Lender, but in no way shall any other such Lender or the Agent be obliged to do so. A Contributing Lender shall make funds has made such amount available to the Administrative Agent as soon as possible for delivery by on such date in accordance with the Section 2.1.5(b), and the Administrative Agent may, in its sole discretion and in reliance upon such assumption (but without any obligation), make available to the applicable BorrowerBorrower a corresponding amount on such date. If more than one Contributing such corresponding amount is not in fact made available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount on demand (and, in any event, within two (2) Business Days from the applicable date of such Borrowing) from such Lender gives notice that it together with KE 84627654 interest thereon, for each day from the applicable date of such Borrowing until the date such amount is prepared paid to make funds available the Administrative Agent, at the Federal Funds Rate for the first two (2) Business Days after such date. If such Lender pays such amount to the Administrative Agent, then such amount (excluding any interest paid to the Administrative Agent thereon) shall constitute such Lender’s Proportionate Share of such Loan. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand therefor or within two (2) Business Days from the applicable date of such Borrowing of a Loan, the Administrative Agent may notify the Borrower and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the Borrower shall immediately pay such corresponding amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf Administrative Agent together with interest thereon, for each day from the applicable date of such Borrowing until the date such amount is paid to the Administrative Agent, at the rate applicable then payable under this Agreement for Base Rate Loans. Nothing in this Section 2.1.5(c) shall be deemed to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of relieve any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of from its obligation to deliver fulfill its Applicable Percentage obligations hereunder or to prejudice any rights that the Borrower may have against any Lender as a result of any Advance as requireddefault by such Lender hereunder.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (OPAL Fuels Inc.)

Failure of Lender to Fund. Notwithstanding section 6.1.3(a) of the Provisions, if any Lender fails to deliver its share of any Advance to the Agent (that Lender being the “Non-Funding Lender”), the Agent shall immediately give notice of that failure by the Non-Funding Lender to the applicable Borrower and the other Lenders and indicate to the other Lenders that any Lender (individually a “Contributing Lender” and collectively the “Contributing Lenders”) may make available to the Agent all or any portion of the Non-Funding Lender’s share of that Advance in place of the Non-Funding Lender, but in no way shall any other Lender or the Agent be obliged to do so. A Contributing Lender shall make funds available to the Agent as soon as possible for delivery by the Agent to the applicable Borrower. If more than one Contributing Lender gives notice that it is prepared to make funds available and the aggregate of the funds that the Contributing Lenders are prepared to make available exceeds the amount of the Advance that the Non-Funding Lender failed to make, then each Contributing Lender shall make available a portion of that Advance based on the Fifth Amended and Restated Credit Agreement Contributing Lenders’ relative Commitments to the Credit. If a Contributing Lender makes funds available in the place of a Non-Funding Lender, then the Non-Funding Lender shall pay the Contributing Lender, immediately on demand, the amount advanced on its behalf together with interest at the rate applicable to that Advance from the date of advance to the date of payment, and the Non-Funding Lender shall then be entitled to receive all interest paid in respect of the Advance by the applicable Borrower. The failure of any Lender to deliver its Applicable Percentage of any Advance to the Agent as required shall not relieve any other Lender of its obligation to deliver its Applicable Percentage of any Advance as required.

Appears in 1 contract

Samples: Credit Agreement (ATS Corp /ATS)

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