Common use of Funding Assumptions Clause in Contracts

Funding Assumptions. Unless the Administrative Agent shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative Agent, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent may assume that such Bank has made such amount available to the Administrative Agent on the date of the Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative Agent, such Bank agrees to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent National City shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time EST on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative AgentNational City, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent National City may assume that such Bank has made such amount available to the Administrative Agent National City on the date of the Loan and the Administrative Agent National City may, in reliance upon such assumption, make available to the Borrowers AeroCentury a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentNational City, such Bank agrees to repay the Administrative Agent National City forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers AeroCentury until the date such amount is repaid to the Administrative AgentNational City, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Alternate Base RateRate plus the Applicable Borrowing Margin. If such Bank shall repay to the Administrative Agent National City such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentNational City's demand therefor, the Administrative Agent National City shall promptly notify the BorrowersAeroCentury, and the Borrowers AeroCentury shall immediately pay such corresponding amount to the Administrative AgentNational City, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers AeroCentury until the date such amount is repaid to the Administrative AgentNational City, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers AeroCentury may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time 11:00 a.m. EST on the date a of the making, conversion or renewal of any Base Rate Loan is requestedLoan, that such Bank does not intend to make available to the Administrative Agent, Agent such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent may assume that such Bank has made or will make such amount available to the Administrative Agent on the date of the Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative Agent, such Bank agrees to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Alternate Base RateRate plus the Applicable Borrowing Margin. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentAgent 's demand therefor, the Administrative Agent shall promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern Eastern prevailing time on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative Agent, such Bank's ’s portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent may assume that such Bank has made such amount available to the Administrative Agent on the date of the Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers Borrower a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative Agent, such Bank agrees to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers Borrower until the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's ’s Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative Agent's ’s demand therefor, the Administrative Agent shall promptly notify the BorrowersBorrower, and the Borrowers Borrower shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers Borrower until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers Borrower may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent shall have has been notified by any Bank at ------------------- least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, such Revolving Credit Facility Loan (or by 3:00 p.m. eastern prevailing time noon on the date a of an Alternate Base Rate Loan is requested, Loan) that such Bank does not intend to make available to the Administrative Agent, Agent such Bank's portion of the total amount of the Loan to be made, converted or renewed made on such date, the Administrative Agent may assume that such each Bank has made the amount of such amount Bank's Revolving Credit Facility Loan available to the Administrative Agent on the date for the Borrowing of the such Revolving Credit Facility Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall corresponding amount is not have so in fact made such funds available to the Administrative AgentAgent by such Bank, such Bank agrees the Agent shall be entitled to repay the Administrative Agent forthwith on demand recover such corresponding amount together with on demand from such Bank, which demand shall be made in a reasonably prompt manner. If such Bank does not pay such corresponding amount forthwith upon the Agent's demand therefor, the Agent shall promptly notify the Borrowers and the Borrowers shall pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from such Bank or the Borrowers, as the case may be, interest thereon, for on such corresponding amount in respect of each day from the date such corresponding amount is was made available by the Agent to the Borrowers until to the date such corresponding amount is repaid recovered by the Agent at a rate equal to the Administrative Agent(i) if recovered from such Bank, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Alternate Base Rate. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify Rate and (ii) if recovered from the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to otherwise accruing on such Revolving Credit Facility Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers any Borrower may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Borrower or any Bank has ------------------- notified the Administrative Agent shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or payment is required to be made by 3:00 p.m. eastern prevailing time on the date a Base Rate Loan is requested, that such Bank does not intend to make available it to the Administrative AgentAgent hereunder, that the Borrower or such Bank's portion of , as the total amount of the Loan to be madecase may be, converted or renewed on will not make such datepayment, the Administrative Agent may assume that the Borrower or such Bank Bank, as the case may be, has timely made such amount available to the Administrative Agent on the date of the Loan payment and the Administrative Agent maymay (but shall not be so required to), in reliance upon such assumptionthereon, make available a corresponding amount to the Borrowers a corresponding amountPerson entitled thereto. If and to the extent that such Bank shall payment was not have so in fact made such funds available to the Administrative AgentAgent in immediately available funds, then: (i) if the Borrower failed to make such payment, each Bank agrees shall forthwith on demand repay to repay the Administrative Agent forthwith on demand the portion of such corresponding amount assumed payment that was made available to such Bank in immediately available funds, together with interest thereon, for thereon in respect of each day from and including the date such amount is was made available by the Administrative Agent to the Borrowers until such Bank to the date such amount is repaid to the Administrative AgentAgent in immediately available funds, at the Federal Funds Rate plus 50 basis points from time to time in effect; and (ii) if any Bank failed to make such payment, such Bank shall forthwith on demand pay to the Administrative Agent the amount thereof in immediately available funds, together with interest thereon for three Business Days, and thereafter the period from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent (the "Compensation Period") at a rate per annum equal to the Base RateFederal Funds Rate from time to time in effect. If such Bank shall repay pays such amount to the Administrative Agent Agent, then such corresponding amount, such amounts so repaid amount shall constitute such Bank's Loan for purposes included in the applicable borrowing of this AgreementLoans. If such Bank does not repay pay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify may make a demand therefor upon the BorrowersBorrower, and the Borrowers Borrower shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but together with interest on thereon for the amount repaid, for each day from the date such amount is made available Compensation Period at a rate per annum equal to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at to the time to such Loanapplicable borrowing of Loans. Nothing herein shall be deemed to relieve any Bank of from its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers Administrative Agent or the Borrower may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent First Union shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time 11:00 a.m. EST on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative AgentFirst Union, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent First Union may assume that such Bank has made such amount available to the Administrative Agent First Union on the date of the Loan and the Administrative Agent First Union may, in reliance upon such assumption, make available to the Borrowers Hxxx Companies a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentFirst Union, such Bank agrees to repay the Administrative Agent First Union forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers Hxxx Companies until the date such amount is repaid to the Administrative AgentFirst Union, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent First Union such corresponding amount, -14- Credit Agreement February 25, 1999 such amounts so repaid shall constitute such Bank's Loan Revolving or Term Loan, as applicable, for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentFirst Union's demand therefor, the Administrative Agent First Union shall promptly notify the BorrowersHxxx Companies, and the Borrowers Hxxx Companies shall immediately pay such corresponding amount to the Administrative AgentFirst Union, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers Hxxx Companies until the date such amount is repaid to the Administrative AgentFirst Union, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving or Term Loan Commitment Commitment, as applicable, hereunder or to prejudice any rights which the Borrowers Hxxx Companies may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent First Union shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time 11:00 a.m. EST on the date a of the making, conversion or renewal of any Base Rate Loan is requestedLoan, that such Bank does not intend to make available to the Administrative AgentFirst Union, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent First Union may assume that such Bank has made such amount available to the Administrative Agent First Union on the date of the Loan and the Administrative Agent First Union may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentFirst Union, such Bank agrees to repay the Administrative Agent First Union forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative AgentFirst Union, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent First Union such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentFirst 16 Union's demand therefor, the Administrative Agent First Union shall promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative AgentFirst Union, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative AgentFirst Union, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent First Union shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time P.M. on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative AgentFirst Union, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent First Union may assume that such Bank has made such amount available to the Administrative Agent First Union on the date of the Loan and the Administrative Agent First Union may, in reliance upon such assumption, make available to the Borrowers AeroCentury a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentFirst Union, such Bank agrees to repay the Administrative Agent First Union forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers AeroCentury until the date such amount is repaid to the Administrative AgentFirst Union, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent First Union such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentFirst Union's demand therefor, the Administrative Agent First Union shall promptly notify the BorrowersAeroCentury, and the Borrowers AeroCentury shall immediately pay such corresponding amount to the Administrative AgentFirst Union, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers AeroCentury until the date such amount is repaid to the Administrative AgentFirst Union, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers AeroCentury may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent First Union shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time P.M. on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative AgentFirst Union, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent First Union may assume that such Bank has made such amount available to the Administrative Agent First Union on the date of the Loan and the Administrative Agent First Union may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentFirst Union, such Bank agrees to repay the Administrative Agent First Union forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative AgentFirst Union, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent First Union such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentFirst Union's demand therefor, the Administrative Agent First Union shall promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative AgentFirst Union, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative AgentFirst Union, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent shall have has been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time 11:00 a.m. EST on the date a of the making, conversion or renewal of any Base Rate Loan is requestedLoan, that such Bank does not intend to make available to the Administrative Agent, Agent such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent may assume that such Bank has made or will make such amount available to the Administrative Agent on the date of the Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative Agent, such Bank agrees to repay the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Alternate Base RateRate plus the Applicable Borrowing Margin. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent shall have has been notified by any Bank ------------------- at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time on the date a Base Rate such Revolving Credit Facility Loan is requested, that such Bank does not intend to make available to the Administrative Agent, Agent such Bank's portion of the total amount of the Loan to be made, converted or renewed made on such date, the Administrative Agent may assume that such each Bank has made the amount of such amount Bank's Revolving Credit Facility Loan available to the Administrative Agent on the date for the Borrowing of the such Revolving Credit Facility Loan and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. If and to the extent such Bank shall corresponding amount is not have so in fact made such funds available to the Administrative AgentAgent by such Bank, such Bank agrees the Agent shall be entitled to repay the Administrative Agent forthwith on demand recover such corresponding amount together with on demand from such Bank, which demand shall be made in a reasonably prompt manner. If such Bank does not pay such corresponding amount forthwith upon the Agent's demand therefor, the Agent shall promptly notify the Borrowers and the Borrowers shall pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from such Bank or the Borrowers, as the case may be, interest thereon, for on such corresponding amount in respect of each day from the date such corresponding amount is was made available by the Agent to the Borrowers until to the date such corresponding amount is repaid recovered by the Agent at a rate equal to the Administrative Agent(i) if recovered from such Bank, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Alternative Base Rate. If such Bank shall repay to the Administrative Agent such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent shall promptly notify Rate and (ii) if recovered from the Borrowers, and the Borrowers shall immediately pay such corresponding amount to the Administrative Agent, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Administrative Agent, at the rate of interest applicable at the time to otherwise accruing on such Revolving Credit Facility Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers any Borrower may have against any Bank as a result of any default by such Bank hereunder.

Funding Assumptions. Unless the Administrative Agent First Union shall have been notified by any Bank at least one Business Day prior to the date of the making, conversion or renewal of any LIBO Rate Loan, or by 3:00 p.m. eastern prevailing time P.M. on the date a Base Rate Loan is requested, that such Bank does not intend to make available to the Administrative AgentFirst Union, such Bank's portion of the total amount of the Loan to be made, converted or renewed on such date, the Administrative Agent First Union may assume that such Bank has made such amount available to the Administrative Agent First Union on the date of the Loan and the Administrative Agent First Union may, in reliance upon such assumption, make available to the Borrowers Xxxxxx a corresponding amount. If and to the extent such Bank shall not have so made such funds available to the Administrative AgentFirst Union, such Bank agrees to repay the Administrative Agent First Union forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers Xxxxxx until the date such amount is repaid to the Administrative AgentFirst Union, at the Federal Funds Rate plus 50 basis points for three Business Days, and thereafter at the Base Rate. If such Bank shall repay to the Administrative Agent First Union such corresponding amount, such amounts so repaid shall constitute such Bank's Loan for purposes of this Agreement. If such Bank does not repay such corresponding amount forthwith upon the Administrative AgentFirst Union's demand therefor, the Administrative Agent First Union shall promptly notify the BorrowersXxxxxx, and the Borrowers Xxxxxx shall immediately pay such corresponding amount to the Administrative AgentFirst Union, without any prepayment penalty or premium, but with interest on the amount repaid, for each day from the date such amount is made available to the Borrowers Xxxxxx until the date such amount is repaid to the Administrative AgentFirst Union, at the rate of interest applicable at the time to such Loan. Nothing herein shall be deemed to relieve any Bank of its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights which the Borrowers Xxxxxx may have against any Bank as a result of any default by such Bank hereunder.