Common use of Intraday Funding Clause in Contracts

Intraday Funding. Without limiting the provisions of Section 2.13, unless the Borrower or any Lender has notified the Agent not later than 12:00 Noon of the Business Day before the date any payment (including in the case of Lenders any Loan) to be made by it is due, that it does not intend to remit such payment, the Agent may, in its discretion, assume that Borrower or each Lender, as the case may be, has timely remitted such payment in the manner required hereunder and may, in its discretion and in reliance thereon, make available such payment (or portion thereof) to the Person entitled thereto as otherwise provided herein. If such payment was not in fact remitted to the Agent in the manner required hereunder, then: (i) if the Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Agent the amount of such assumed payment made available to such Lender, 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 to the date such amount is repaid to the Agent at the Federal Funds Rate; and (ii) if any Lender failed to make such payment after the Agent has provided the corresponding amount to the Borrower, the Agent shall be entitled to recover such corresponding amount forthwith upon the Agent?s demand therefor, the Agent promptly shall notify the Borrower, and the Borrower shall promptly pay an amount equal to such payment to the Agent in immediately available funds upon receipt of such demand.

Intraday Funding. Without limiting the provisions of Section 2.132.14, unless the Borrower or any Lender has notified the Administrative Agent not later than 12:00 Noon of the Business Day before the date any payment (including in the case of Lenders any LoanAdvance) to be made by it is due, that it does not intend to remit such payment, the Administrative Agent may, in its discretion, assume that Borrower or each Lender, as the case may be, has timely remitted such payment in the manner required hereunder and may, in its discretion and in reliance thereon, make available such payment (or portion thereof) to the Person entitled thereto as otherwise provided herein. If such payment was not in fact remitted to the Administrative Agent in the manner required hereunder, then: (i) if the Borrower failed to make such payment, each applicable Lender shall forthwith on demand repay to the Administrative Agent the amount of such assumed payment made available to such Lender, 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 to the date such amount is repaid to the Administrative Agent at the Federal Funds Rate; and (ii) if any Lender failed to make such payment after the Agent has provided the corresponding amount to the Borrowerpayment, the Administrative Agent shall be entitled to recover such corresponding amount forthwith upon the Agent?s demand therefor, the Agent promptly shall notify the Borrower, and the Borrower shall promptly pay an amount equal to such payment to the Agent in immediately available funds upon receipt of such demand.Administrative Agent’s

Intraday Funding. Without limiting the provisions of Section 2.132.11, unless the Borrower or any Lender has notified the Agent not later than 12:00 Noon of the Business Day before the date any payment (including in the case of Lenders any LoanAdvance) to be made by it is due, that it does not intend to remit such payment, the Agent may, in its discretion, assume that Borrower or each Lender, as the case may be, has timely remitted such payment in the manner required hereunder and may, in its discretion and in reliance thereon, make available such payment (or portion thereof) to the Person entitled thereto as otherwise provided herein. If such payment was not in fact remitted to the Agent in the manner required hereunder, then: (i) if the Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Agent the amount of such assumed payment made available to such Lender, 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 to the date such amount is repaid to the Agent at the Federal Funds Rate; and (ii) if any Lender failed to make such payment after the Agent has provided the corresponding amount to the Borrowerpayment, the Agent shall be entitled to recover such corresponding amount forthwith upon the Agent?s Agent's demand therefor, the Agent promptly shall notify the Borrower, and the Borrower shall promptly pay an such corresponding amount equal to such payment to the Agent in immediately available funds upon receipt of such demand.

Intraday Funding. Without limiting the provisions of Section 2.13SECTION 3.11, unless the Borrower or any Lender has notified the Agent not later than 12:00 Noon of the Business Day before the date any payment (including in the case of Lenders any LoanAdvance) to be made by it is due, that it does not intend to remit such payment, the Agent may, in its discretion, assume that Borrower or each Lender, as the case may be, has timely remitted such payment in the manner required hereunder and may, in its discretion and in reliance thereon, make available such payment (or portion thereof) to the Person entitled thereto as otherwise provided herein. If such payment was not in fact remitted to the Agent in the manner required hereunder, then: (i) if the Borrower failed to make such payment, each Lender shall forthwith on demand repay to the Agent the amount of such assumed payment made available to such Lender, 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 to the date such amount is repaid to the Agent at the Federal Funds Effective Rate; and (ii) if any Lender failed to make such payment after the Agent has provided the corresponding amount to the Borrowerpayment, the Agent shall be entitled to recover such corresponding amount forthwith upon the Agent?s Agent=s demand therefor, the Agent promptly shall notify the Borrower, and the Borrower shall promptly pay an such corresponding amount equal to such payment to the Agent in immediately available funds upon receipt of such demand.. The Agent also shall be entitled to recover interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by