Common use of Funding by the Lenders; Presumption by the Agents Clause in Contracts

Funding by the Lenders; Presumption by the Agents. Unless the Agents shall have received notice from a Lender prior to the proposed date of any Borrowing of LIBOR Rate Loans or Drawing (or, in the case of any Borrowing of Base Rate Loans or Canadian Prime Rate Loans, prior to 12:00 Noon on the date of such Borrowing) that such Lender will not make available to the Agents such Lender’s share of such Borrowing or Drawing, as applicable, the Agents may assume that such Lender has made such share available on such date in accordance with Section 2.02 or Section 2.15, as applicable (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the applicable Agent, then the applicable Lender and the Borrower severally agree to pay to the applicable Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agents, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Agents in connection with the foregoing and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans or Canadian Prime Rate Loans, as applicable. If the Borrower and such Lender shall pay such interest to the applicable Agent for the same or an overlapping period, such Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing or Drawing to the applicable Agent, then the amount so paid shall constitute such Lender’s Loan, Bankers’ Acceptance or BA Equivalent Note, as applicable. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Agents.

Funding by the Lenders; Presumption by the Agents. Unless the Agents shall have received notice from a Lender prior to the proposed date of any Borrowing of LIBOR Rate Term SOFR Loans or Drawing (or, in the case of any Borrowing of Base Rate Loans or Canadian Prime Rate Loans, prior to 12:00 Noon on the date of such Borrowing) that such Lender will not make available to the Agents such Lender’s share of such Borrowing or Drawing, as applicable, the Agents may assume that such Lender has made such share available on such date in accordance with Section 2.02 or Section 2.15, as applicable (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the applicable Agent, then the applicable Lender and the Borrower severally agree to pay to the applicable Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agents, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Agents in connection with the foregoing and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans or Canadian Prime Rate Loans, as applicable. If the Borrower and such Lender shall pay such interest to the applicable Agent for the same or an overlapping period, such Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing or Drawing to the applicable Agent, then the amount so paid shall constitute such Lender’s Loan, Bankers’ Acceptance or BA Equivalent Note, as applicable. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Agents.

Funding by the Lenders; Presumption by the Agents. Unless the Agents shall have received notice from a Lender prior to the proposed date of any Borrowing of LIBOR Rate Term SOFR Loans or Drawing Term XXXXX Loans (or, in the case of any Borrowing of Base Rate Loans or Canadian Prime Rate Loans, prior to 12:00 Noon on the date of such Borrowing) that such Lender will not make available to the Agents such Lender’s share of such Borrowing or Drawing, as applicableBorrowing, the Agents may assume that such Lender has made such share available on such date in accordance with Section 2.02 or Section 2.15, as applicable (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the applicable Agent, then the applicable Lender and the Borrower severally agree to pay to the applicable Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Agents, at (A) in the case of a payment to be made by such LenderLender with respect to any amount denominated in U.S. Dollars, the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Agents in connection with the foregoing and in the case of a payment to be made by such Lender with respect to any amount denominated in Canadian Dollars, an overnight rate determined by the Agents in accordance with banking industry rules on interbank compensation and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans or Canadian Prime Rate Loans, as applicable. If the Borrower and such Lender shall pay such interest to the applicable Agent for the same or an overlapping period, such Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing or Drawing to the applicable Agent, then the amount so paid shall constitute such Lender’s Loan, Bankers’ Acceptance or BA Equivalent Note, as applicable. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Agents.