Common use of Funding Reliance, etc Clause in Contracts

Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (Chicago time) on the day prior to a Borrowing that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Alliance Resources PLC), Credit Agreement (American Rivers Oil Co /De/)

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Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (Chicago New York City time) ), on the day prior to a Borrowing that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers Borrower to the date such amount is repaid to the Agent, Agent at the interest rate applicable at the time to Loans comprising such Borrowing.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Key Components LLC), Credit and Guaranty Agreement (Key Components Finance Corp)

Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender Bank by 5:00 p.m. (Chicago p.m., London time) , on the day prior to a Borrowing the making of any Loans that such Lender Bank will not make available the amount which would constitute its Percentage of such Borrowing Loans on the date specified therefor, the Agent may assume that such Lender Bank has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender Bank shall not have made such amount available to the Agent, such Lender Bank and the Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowingthe relevant Loans.

Appears in 1 contract

Samples: Loan Agreement (Coeur D Alene Mines Corp)

Funding Reliance, etc. 10.2 Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (Chicago p.m., New York time) , on the day prior to a Borrowing that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the relevant Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the such Borrower severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers such Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Greka Energy Corp)

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Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (p.m., Chicago time) , on the day prior to a Borrowing that such Lender will not make available the amount which would constitute its Percentage of such Borrowing on the date specified therefor, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower Company severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers Company to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Andrew Corp)

Funding Reliance, etc. Unless the Agent shall have been notified by telephone, confirmed in writing, by any Lender by 5:00 p.m. (Chicago p.m., London time) , on the day prior to a the proposed Borrowing Date that such Lender will not make available the amount which would constitute its Percentage of the Loans to be made by all the Lenders on such Borrowing on the date specified therefordate, the Agent may assume that such Lender has made such amount available to the Agent and, in reliance upon such assumption, make available to the Borrower a corresponding amount. If and to the extent that such Lender shall not have made such amount available to the Agent, such Lender and the Borrower jointly and severally agree to repay the Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date the Agent made such amount available to the Borrowers Borrower to the date such amount is repaid to the Agent, at the interest rate applicable at the time to Loans comprising such Borrowingthe relevant Loans.

Appears in 1 contract

Samples: Loan Agreement (Amax Gold Inc)

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