Common use of Non-Receipt of Funds by Administrative Agent Clause in Contracts

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date on which it is scheduled to make payment to Administrative Agent of (i) in the case of a Lender, an Advance, or (ii) in the case of Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or Borrower, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless Borrower the Company or a Lender, as the case may be, notifies the Administrative Agent prior to the date on which it is scheduled to make payment to the Administrative Agent of (ia) in the case of a Lender, an Advance, the proceeds of a Loan or (iib) in the case of Borrowerthe Company, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, the Administrative Agent may assume that such payment has been made. The Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such a Lender or Borrowerthe Company, as the case may be, has not in fact made such payment to the Administrative Agent, the recipient of such payment shall, on demand by the Administrative Agent, repay to the Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined until the third Business Days after demand by the Administrative Agent) for such day Agent and, thereafter, the interest rate applicable to the relevant Loan or (ii) in the case of payment by Borrowerthe Company, the interest rate applicable to the relevant Advanceobligation (of, if no interest rate is so specified, the Base Rate from time to time in effect).

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a -------------------------------------------- Lender, as the case may be, notifies Administrative Agent prior to the date on which it is scheduled to make payment to Administrative Agent of (i) in the case of a Lender, its portion of an Advance, or (ii) in the case of Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or Borrower, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date on which it is scheduled to make payment to Administrative Agent of (i) in the case of a Lender, an Advancea Borrowing, or (ii) in the case of Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such paymentpayment in the applicable currency, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or Borrower, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on promptly after demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) or the Administrative Agent’s overdraft for Qualified Foreign Global Currencies for such day or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant AdvanceBorrowing.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date on which it such payment is scheduled to make payment due to Administrative Agent of (i) in the case of a Lender, an Advance, the proceeds of a Loan or (ii) in the case of Borrower, a payment of principal, interest interest, fees or fees other amounts due under the Loan Documents to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If Borrower or such Lender or BorrowerLender, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (ia) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (iib) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless the Borrower or a LenderBank, as the case may be, notifies Administrative Agent prior to the date on which it such payment is scheduled to make payment due to Administrative Agent of (i) in the case of a LenderBank, an Advance, the proceeds of a Loan or (ii) in the case of Borrower, a payment of principal, interest interest, fees or fees other amounts due under the Loan Documents to the Administrative Agent for the account of the LendersBanks, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If Borrower or such Lender or BorrowerBank, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (ia) in the case of payment by a LenderBank, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (iib) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date on which it is scheduled to make payment to Administrative Agent of (i) in the case of a Lender, an Advance, or (ii) in the case of Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or Borrower, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on promptly after demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date (or, in the case of funding of an ABR Loan by a Lender, prior to the time) on which it such payment is scheduled to make payment due to Administrative Agent of (i) in the case of a Lender, an Advance, the proceeds of a Loan or (ii) in the case of Borrower, a payment of principal, interest interest, fees or fees other amounts due under the Loan Documents to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If Borrower or such Lender or BorrowerLender, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (ia) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (iib) in the case of payment by Borrower, the interest rate applicable to the relevant Advance.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent shall have been notified by a Bank or Borrower ("Payor") prior to the date on which it such Bank is scheduled to make payment to Administrative Agent of (i) in the case proceeds of a Lender, an Advance, Loan to be made by it hereunder or (ii) in the case of Borrower, Borrower is to make a payment of principal, interest or fees to the Administrative Agent for the account of one or more of Banks, as the Lenderscase may be (such payment being herein called the "Required Payment"), which notice shall be effective upon receipt, that it Payor does not intend to make such paymentthe Required Payment to Administrative Agent, Administrative Agent may assume that such payment the Required Payment has been made. Administrative Agent made and may, in reliance upon such assumption (but shall not be obligated required to), make the amount of such payment thereof available to the intended recipient in reliance upon on such assumption. If such Lender or Borrowerdate and, as the case may be, if Payor has not in fact made such payment the Required Payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agentdemand, repay pay to Administrative Agent the amount so made available to it together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a rate per annum equal to (i) in the case of payment by a Lender, the Federal Funds Effective Rate (as determined by Administrative Agent) for such day or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant Advanceperiod.

Non-Receipt of Funds by Administrative Agent. Unless Borrower or a Lender, as the case may be, notifies Administrative Agent prior to the date on which it is scheduled to make payment to Administrative Agent of (ia) in the case of a Lender, an Advance, the proceeds of a Loan or (iib) in the case of Borrower, a payment of principal, interest or fees to the Administrative Agent for the account of the Lenders, that it does not intend to make such payment, Administrative Agent may assume that such payment has been made. Administrative Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or Borrower, as the case may be, has not in fact made such payment to Administrative Agent, the recipient of such payment shall, on demand by Administrative Agent, repay to Administrative Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by Administrative Agent until the date Administrative Agent recovers such amount at a an annual rate per annum equal to (i) in the case of payment by a Lender, the greater of the Federal Funds Effective Rate (as and a rate determined by Administrative Agent) for such day Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of payment by Borrower, the interest rate applicable to the relevant AdvanceLoan.