Common use of Lender’s disbursement Clause in Contracts

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Advance that such Lender will not make available to Administrative Agent such Lender’s Pro Rata Share of such Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Advance in accordance with this Section and Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower severally agree to repay to Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to Borrower until the date such amount is repaid to Administrative Agent, at (i) in the case of Borrower, the interest rate applicable at the time to such Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Pro Rata Share of such Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Advance on the date of such Advance, and the provisions of Section 13.4 shall govern the Defaulting Lender’s rights and obligations.

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Advance that such Lender will not make available to Administrative Agent such Lender’s Pro Rata Share of such Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Advance in accordance with this Section and Administrative Agent may, in reliance upon such assumption, make available to Borrower Borrowers on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower Borrowers severally agree to repay to Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to Borrower Borrowers until the date such amount is repaid to Administrative Agent, at (i) in the case of BorrowerBorrowers, the interest rate applicable at the time to such Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate, as such rate is quoted in The Wall Street Journal on such date. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Pro Rata Share of such Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Advance on the date of such Advance, and but no Lender shall be responsible for the provisions failure of Section 13.4 shall govern any other Lender to make available its Pro Rata Share of any Advance on the Defaulting Lender’s rights and obligationsdate of any Advance.

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Advance that such Lender will not make available to Administrative Agent such Lender’s Pro Rata Share of such Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Advance in accordance with this Section and Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower severally agree to repay to Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to Borrower until the date such amount is repaid to Administrative Agent, at (i) in the case of Borrower, the interest rate applicable at the time to such Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate, as such rate is quoted in The Wall Street Journal on such date. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Pro Rata Share of such Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Advance on the date of such Advance, and but no Lender shall be responsible for the provisions failure of Section 13.4 shall govern any other Lender to make available its Pro Rata Share of any Advance on the Defaulting Lender’s rights and obligationsdate of any Advance.

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Term Advance that such Lender will not make available to Administrative Agent such Lender’s Pro Rata Share of such Term Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Term Advance in accordance with this Section 2.1.2 and Administrative Agent may, in reliance upon such assumption, make available to Borrower Borrowers on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower Borrowers severally agree to repay to Administrative Agent forthwith on demand such corresponding amount ratable portion together with interest thereon, for each day from the date such amount ratable portion is made available to Borrower Borrowers until the date such amount ratable portion is repaid to Administrative Agent, at (i) in the case of BorrowerBorrowers, the interest rate applicable at the time to such Term Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate, as such rate is quoted in The Wall Street Journal on such date; provided that no Borrowers will be required to repay any such ratable portion or corresponding interest under this Section 2.1.2(d), unless the Agent requests in writing the return of such ratable portion of such Revolving Advance no later than one Business Day after such ratable portion of such Revolving Advance is made. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Pro Rata Share of such Term Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Term Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Term Advance on the date of such Advance, and but no Lender shall be responsible for the provisions failure of Section 13.4 shall govern any other Lender to make available its Pro Rata Share of any Term Advance on the Defaulting Lender’s rights and obligationsdate of any Advance.

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Revolving Advance that such Lender will not make available to Administrative Agent such Lender’s Pro Rata Share of such Revolving Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Revolving Advance in accordance with this Section 2.1.1 and Administrative Agent may, in reliance upon such assumption, make available to Borrower Borrowers on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower Borrowers severally agree to repay to Administrative Agent forthwith on demand such corresponding amount ratable portion together with interest thereon, for each day from the date such amount ratable portion is made available to Borrower Borrowers until the date such amount ratable portion is repaid to Administrative Agent, at (i) in the case of BorrowerBorrowers, the interest rate applicable at the time to such Revolving Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate, as such rate is quoted in The Wall Street Journal on such date; provided that no Borrowers will be required to repay any such ratable portion or corresponding interest under this Section 2.1.1(e), unless the Agent requests in writing the return of such ratable portion of such Revolving Advance no later than one Business Day after such ratable portion of such Revolving Advance is made. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s Pro Rata Share of such Revolving Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Revolving Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Revolving Advance on the date of such Revolving Advance, and but no Lender shall be responsible for the provisions failure of Section 13.4 shall govern any other Lender to make available its Pro Rata Share of any Advance on the Defaulting Lender’s rights and obligationsdate of any Advance.

Lender’s disbursement. Unless Administrative Agent shall have received notice from a Lender prior to the date of any Advance that such Lender will not make available to Administrative Agent such Lender’s 's Pro Rata Share of such Advance, Administrative Agent may assume that such Lender has made such portion available to Administrative Agent on the date of such Advance in accordance with this Section and Administrative Agent may, in reliance upon such assumption, make available to Borrower on such date a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to Administrative Agent, such Lender and Borrower severally agree to repay to Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to Borrower until the date such amount is repaid to Administrative Agent, at (i) in the case of Borrower, the interest rate applicable at the time to such Advance and (ii) in the case of such Lender, the Federal Funds Effective Rate, as such rate is quoted in The Wall Street Journal on such date. If such Lender shall repay to Administrative Agent such corresponding amount, such amount so repaid shall constitute such Lender’s 's Pro Rata Share of such Advance for purposes of this Agreement. The failure of any Lender to make available its Pro Rata Share of any Advance shall not relieve any other Lender of its obligation, if any, hereunder, to make available its Pro Rata Share of such Advance on the date of such Advance, and but no Lender shall be responsible for the provisions failure of Section 13.4 shall govern any other Lender to make available its Pro Rata Share of any Advance on the Defaulting Lender’s rights and obligationsdate of any Advance.