Common use of Funding Assumed Clause in Contracts

Funding Assumed. Absent contrary written notice from a Lender --------------- under the US Facility, Administrative Agent may assume that each such Lender has made its Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon that assumption (but shall not be required to), make available to US Borrower a corresponding amount. If any such Lender fails to make its Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from US Borrower together with interest at the rate applicable to that Borrowing. No Lender under the US Facility is responsible for the failure of any other Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.2(B); however, failure of any Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US Facility from making its Commitment Percentage of the US Facility of any Borrowing so available. Credit Agreement ----------------

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

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Funding Assumed. Absent contrary written notice from a Lender --------------- under by 1:00 p.m. Dallas, Texas time on the US Facilityapplicable Borrowing Date, Administrative Agent may assume that each such Lender has made its Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon that such assumption (but shall not be required to), make available to US Borrower Borrowers a corresponding amount. If any such a Lender fails to make its Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed-Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from US Borrower together with interest at Borrowers and, to the rate applicable extent of availability under the Swing Line Subfacility, Borrowers shall be deemed to that have requested and Swing Line Lender is hereby irrevocably authorized to fund any amounts due from Borrowers pursuant to this SECTION 2.6(c) as a Swing Line Borrowing. No Lender under the US Facility is responsible for the failure of any other Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.2(B2.6(b); however, failure of any Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US Facility from making its Commitment Percentage of the US Facility of any Borrowing so available. Credit Agreement ----------------.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Funding Assumed. Absent contrary written notice from a Lender --------------- under the US UK Facility, Administrative Agent may assume that each such Lender has made its UK-Revolving-Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon that assumption (but shall not be required to), make available to US the designated UK Borrower a corresponding amount. If any such Lender fails to make its UK-Revolving- Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from US Borrower UK Borrowers (on a joint and several basis) together with interest at the rate applicable to that Borrowing. No Lender under the US UK Facility is responsible for the failure of any other Lender under the US UK Facility to make its UK-Revolving- Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.2(B3.2(b); however, failure of any such Lender under the US Facility to make its UK-Revolving- Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US UK Facility from making its UK-Revolving-Commitment Percentage of the US Facility of any Borrowing so available. Credit Agreement ----------------.

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

Funding Assumed. Absent contrary written notice from a Lender Lender, --------------- under the US Facility, Administrative Agent may assume that each such Lender has made its Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon that such assumption (but shall not be required to), make available to US Borrower a corresponding amount. If any such a Lender fails to make its Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed-Fed- Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from US Borrower Borrower, together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Agent recovers the amount from Borrower, at an annual interest at rate equal to the rate applicable to that Borrowing. Base Rate No Lender under the US Facility is responsible for the failure of any other Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.2(B2.3(B); however. However, failure of any Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US Facility from making its Commitment Percentage of the US Facility of any Borrowing so available. Credit Agreement ----------------.

Appears in 1 contract

Samples: Credit Agreement (Matrix Capital Corp /Co/)

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Funding Assumed. Absent contrary written notice from Notwithstanding the foregoing, unless Administrative Agent shall have been notified by a Lender --------------- under prior to a Borrowing Date that such Lender does not intend to make available to Administrative Agent such Lender's Commitment Percentage of the US Facilityrequested Borrowing available to Administrative Agent on the applicable Borrowing Date, Administrative Agent may assume that each such Lender has made its Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon that such assumption (but shall not be required to), make available to US Borrower a corresponding amount. If any such a Lender fails to make its Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the FedFederal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from US Borrower together with interest at the rate applicable to that BorrowingBorrower. No Lender under the US Facility is responsible for the failure of any other Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.2(B2.5(b); however, failure of any Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US Facility from making its Commitment Percentage of the US Facility of any Borrowing so available. Credit Agreement ----------------.

Appears in 1 contract

Samples: Revolving Credit Agreement (Intermedia Communications Inc)

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