Common use of Lender’s Failure to Fund Clause in Contracts

Lender’s Failure to Fund. If a Lender fails to advance its share of any Borrowing and, despite such failure, the Administrative Agent advances such amount to a Borrower, the Administrative Agent may recover such amount from such Lender or, if it is unable to do so, from such Borrower, with interest from the date of disbursement at the rate applicable to Borrowings in the same form under the relevant Tranche. Nothing in this Section obliges the Administrative Agent to fund any Borrowing or advance any sums on behalf of a Lender who has failed to comply with its obligations.

Lender’s Failure to Fund. If a Lender fails to advance its share of any Borrowing and, despite such failure, the Administrative Agent advances such amount to a Borrower, the Administrative Agent may recover such amount from such Lender or, if it is unable to do so, from such Borrower, with interest from the date of disbursement at the rate applicable to Borrowings in the same form under the relevant Tranche. Nothing in this Section obliges the Administrative Agent to fund any Borrowing or advance any sums on behalf of a Lender who has failed to comply with its obligations.

Lender’s Failure to Fund. If a Lender fails to advance its share of any Borrowing and, despite such failure, the Administrative Agent advances such amount to a the Borrower, the Administrative Agent may recover such amount from such Lender or, if it is unable to do so, from such the Borrower, with interest from the date of disbursement at the rate applicable to Borrowings in the same form under the relevant Trancheform. Nothing in this Section obliges the Administrative Agent to fund any Borrowing or advance any sums on behalf of a Lender who has failed to comply with its obligations.