Common use of Non-Funding Lenders Responsibility Clause in Contracts

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount; provided that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees to repay to the Administrative Agent within one Business Day of demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.)

AutoNDA by SimpleDocs

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount; provided that nothing herein or in any other U.S. International Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees to repay to the Administrative Agent within one Business Day of demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such corresponding amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. International Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. International Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. International Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. International Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.)

Non-Funding Lenders Responsibility. Unless the The Administrative Agent shall have received notice from any may assume that each Lender prior to the date such Lender is required to make any payment hereunder has made payment, with respect to any Loan or any participation in any Letter of Credit that such Lender will not make such payment (or any portion thereof) available to the Administrative AgentSwing Loan, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 Agreement, and the Administrative Agent may, in reliance upon such assumption, may make available to the Borrower Borrowers on such date a corresponding amount; provided provided, that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of to the Borrowers that have not been paid to the Administrative Agent by any Lender. In the event the Administrative Agent advances funds that any Lender was required to but did not fund, pursuant to the preceding sentence or otherwise, (A) the Administrative Agent and not such Lender shall be entitled to interest earned on such funds in accordance with this Agreement, for the period commencing on the date such funds were made available to the Borrowers and ending on the date such funds are (a) repaid by the Borrowers, (b) paid to the Administrative Agent by such Lender, or (c) reallocated in accordance with clause (ii) below or otherwise on any Settlement Date; and (B) such Lender shall, on demand, pay to the Administrative Agent the funds made available to the Borrowers attributable to such Lender. The Borrower agrees Borrowers agree to repay to the Administrative Agent within one Business Day of on demand any such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment availablefunds; provided, however, that such payment by the Borrowers shall not relieve such any Lender of any obligation it may have to the Borrower Borrowers or to the Swingline Lender, or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower other obligation it may have against a Non-Funding Lenderto the Administrative Agent. The failure of a Non-Funding any Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it it, or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified thereforetherefor, shall not relieve any other Lender of its obligations to make such loanits Loans, fund the purchase its purchases of such participation any participation, or make any other such payment payments under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding other Lender to make a Loan, fund the purchase of a participation participation, or make any other payment required under any U.S. Loan Document.

Appears in 2 contracts

Samples: Credit Agreement (Rush Enterprises Inc \Tx\), Credit Agreement (Rush Enterprises Inc \Tx\)

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit Swing Loan that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount; provided provided, that nothing herein or in any other U.S. Loan Document or any Lender Interest Letter shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Swingline Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.

Appears in 2 contracts

Samples: Credit Agreement (Rush Enterprises Inc \Tx\), Credit Agreement (Rush Enterprises Inc \Tx\)

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit Swing Loan that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower Borrowers on such date a corresponding amount; provided provided, that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees Borrowers agree to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower Borrowers until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower Borrowers had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower Borrowers or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Swingline Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document. THIRD AMENDED AND RESTATED CREDIT AGREEMENT RUSH ENTERPRISES, INC.

Appears in 1 contract

Samples: Credit Agreement (Rush Enterprises Inc \Tx\)

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit Swing Loan that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower Borrowers on such date a corresponding amount; provided provided, that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees Borrowers agree to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower Borrowers until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower Borrowers had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower Borrowers or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Swingline Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.. FOURTH AMENDED AND RESTATED CREDIT AGREEMENT RUSH ENTERPRISES, INC. 23

Appears in 1 contract

Samples: Credit Agreement (Rush Enterprises Inc \Tx\)

AutoNDA by SimpleDocs

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 I and the Administrative Agent may, in reliance upon such assumption, make available to the appropriate Borrower on such date a corresponding amount; provided that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Each Borrower agrees to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the such Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the such Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding LenderIssuer. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified thereforetherefor, shall not relieve any other Lender of its obligations to make such loanLoan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Northland Cable Properties Seven Limited Partnership)

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Letter of Credit Swing Loan that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower Borrowers on such date a corresponding amount; provided provided, that nothing herein or in any other U.S. Loan Document or any Lender Interest Letter shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees Borrowers agree to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower Borrowers until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower Borrowers had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower Borrowers or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding Swingline Lender. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.

Appears in 1 contract

Samples: Credit Agreement (Rush Enterprises Inc \Tx\)

Non-Funding Lenders Responsibility. Unless the Administrative Agent shall have received notice from any Lender prior to the date such Lender is required to make any payment hereunder with respect to any Loan or any participation in any Swing Loan or Letter of Credit that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article 2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount; provided that nothing herein or in any other U.S. Loan Document shall be deemed to require the Administrative Agent to advance funds on behalf of any Lender. The Borrower agrees to repay to the Administrative Agent within one Business Day of on demand such corresponding amount (until repaid by such Lender) with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the U.S. Secured Obligation that would have been created when the Administrative Agent made available such amount to the Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower Borrower, the Swingline Lender or any L/C Issuer and the Borrower shall be without prejudice to any claim the Borrower may have against a Non-Funding LenderIssuer. The failure of a Non-Funding Lender to make any U.S. Revolving Loan, to fund any purchase of any participation to be made or funded by it or to make any other payment required to be made by it under the U.S. Loan Documents, in each case on the date specified therefore, shall not relieve any other Lender of its obligations to make such loan, fund the purchase of such participation or make any other such payment under any U.S. Loan Document on such date, but neither the Administrative Agent nor, other than as expressly set forth herein, any Lender shall be responsible for the failure of any Non-Funding Lender to make a Loan, fund the purchase of a participation or make any other payment required under any U.S. Loan Document.

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!