Common use of FAILURE TO MAKE PAYMENTS BY COMPANY Clause in Contracts

FAILURE TO MAKE PAYMENTS BY COMPANY. Unless the Agent will have received notice from the Company prior to the date on which any payment is due to the Agent hereunder that the Company will not make such payment in full, the Agent may assume that the Company has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Company will not have so made such payment in full to the Agent, each Lender will repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at the Federal Funds Rate. If and to the extent the Company makes only partial payment to the Agent, each Lender will repay to the Agent, in accordance with this Section, only the amount distributed to such Lender by the Agent, with interest thereon, that exceeds the Lender's Ratable Portion of the partial payment received by the Agent from the Company.

FAILURE TO MAKE PAYMENTS BY COMPANY. Unless the Agent will have received notice from the Company prior to the date on which any payment is due to the Agent hereunder that the Company will not make such payment in full, the Agent may assume that the Company has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent the Company will not have so made such payment in full to the Agent, each Lender will repay to the Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Agent, at the Federal Funds Rate. If and to the extent the Company makes only partial payment to the Agent, each Lender will repay to the Agent, in accordance with this Section, only the amount distributed to such Lender by the Agent, with interest thereon, that exceeds the Lender's Ratable Portion of the partial payment received by the Agent from the Company.SEQ LEVEL2 \H \R0