Common use of Funding Defaults Clause in Contracts

Funding Defaults. Unless the Borrower has notified the Agent, prior to the date any payment is required to be made by it to the Agent hereunder, that the Borrower will not make such payment, the Agent may assume that the Borrower has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Agent in immediately available funds, then each Lender (or the Board, if applicable) shall forthwith on demand repay to the Agent the portion of such assumed payment that was made available to such Lender (or the Board, if applicable) in immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Agent to such Lender (or the Board, if applicable) to the date such amount is repaid to the Agent in immediately available funds, at the applicable Federal Funds Rate (as defined in the definition of "Base Rate Loan") from time to time in effect. A notice of the Agent to the Borrower with respect to any amount owing under this subsection (g) shall be conclusive, absent manifest error.

Funding Defaults. Unless the Borrower has notified the Administrative Agent, prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in immediately available funds, then each Lender (or the Board, if applicable) shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender (or the Board, if applicable) in immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender (or the Board, if applicable) to the date such amount is repaid to the Administrative Agent in immediately available funds, funds (at the applicable Federal Funds Rate (as defined in the definition of "Base Rate Loan") from time to time in effecteffect for the first Business Day and thereafter, at the rate applicable to Index Rate Loans). A notice of the Administrative Agent to the Borrower Lenders with respect to any amount owing under this subsection (gf) shall be conclusive, absent manifest error.

Funding Defaults. Unless the Borrower has notified the Administrative Agent, prior to the date any payment is required to be made by it to the Administrative Agent hereunder, that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in immediately available funds, then each Lender (or the Board, if applicable) shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender (or the Board, if applicable) in immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the Administrative Agent to such Lender (or the Board, if applicable) to the date such amount is repaid to the Administrative Agent in immediately available funds, funds (at the applicable Federal Funds Rate (as defined in the definition of "Base Rate Loan") from time to time in effecteffect for the first Business Day and thereafter, at the rate applicable to Index Rate Loans). A notice of the Administrative Agent to the Borrower Lenders with respect to any amount owing under this subsection (gSection 2.9(f) shall be conclusive, absent manifest error.