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

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company prior to the date on which any payment in respect of a Loan is due from it hereunder (which notice shall be effective upon receipt) that the Company does not intend to make such payment, the Administrative Agent may assume that the Company has made such payment when due and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on such payment date an amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the Administrative Agent, such Bank shall, on demand, repay to the Administrative Agent the amount made available to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank and ending on (but excluding) the date such Bank repays such amount to the Administrative Agent, at a rate per annum equal to the Administrative Agent’s cost of obtaining overnight funds in the federal funds market in New York on each such day. (b) A certificate of the Administrative Agent submitted to any Bank with respect to any amount owing under the foregoing paragraph (a) shall be prima facie evidence of the facts stated therein.

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company a Lender prior to the date on which of any payment in respect of a Loan is due from it hereunder proposed Advance (which notice shall be effective upon receipt) that the Company such Lender does not intend to make the proceeds of such paymentAdvance available to the Administrative Agent, the Administrative Agent may assume that the Company such Lender has made such payment when due proceeds available to the Administrative Agent on such date, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on the Borrower a corresponding amount. If such payment date an corresponding amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the Administrative Agent, such Bank shall, on demand, repay available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to pay such Bank amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank the Borrower and ending on (but excluding) the date such Bank repays the Administrative Agent receives such amount to from (a) the Administrative AgentLender, at a rate per annum rate equal to the Administrative Agent’s cost lesser of obtaining overnight funds in (i) the federal funds market in New York on each such day. Highest Lawful Rate or (ii) the Federal Funds Rate, or (b) A certificate of the Administrative Agent submitted Borrower, at the per annum rate applicable at the time to any Bank with respect to any amount owing under the foregoing paragraph (a) such Advance. No Lender shall be prima facie evidence of the facts stated thereinliable for any other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company a Lender prior to the date on which of any payment in respect of a Loan is due from it hereunder proposed Advance (which notice shall be effective upon receipt) that the Company such Lender does not intend to make the proceeds of such paymentAdvance available to the Administrative Agent, the Administrative Agent may assume that the Company such Lender has made such payment when due proceeds available to the Administrative Agent on such date, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on the Borrower a corresponding amount. If such payment date an corresponding amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the Administrative Agent, such Bank shall, on demand, repay available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to pay such Bank amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank the Borrower and ending on (but excluding) the date such Bank repays the Administrative Agent receives such amount to from the Administrative AgentLender, with interest thereon at a rate per annum rate equal to the Administrative Agent’s cost lesser of obtaining overnight funds in (i) the federal funds market in New York on each such day. Highest Lawful Rate or (bii) A certificate of the Administrative Agent submitted to any Bank with respect to any amount owing under the foregoing paragraph (a) Federal Funds Rate. No Lender shall be prima facie evidence of the facts stated thereinliable for any other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company a Lender prior to the date on which of any payment in respect of a Loan is due from it hereunder proposed Advance (which notice shall be effective upon receipt) that the Company such Lender does not intend to make the proceeds of such paymentAdvance available to the Administrative Agent, the Administrative Agent may assume that the Company such Lender has made such payment when due proceeds available to the Administrative Agent on such date, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on the Borrower a corresponding amount. If such payment date an corresponding amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the Administrative Agent, such Bank shall, on demand, repay available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to pay such Bank amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank the Borrower and ending on (but excluding) the date such Bank repays the Administrative Agent receives such amount to from the Administrative AgentLender, calculated at a rate per annum rate equal to the Administrative Agent’s cost lesser of obtaining overnight funds in (a) the federal funds market in New York on each such day. Highest Lawful Rate or (b) A certificate of the Administrative Agent submitted to any Bank with respect to any amount owing under the foregoing paragraph (a) Federal Funds Rate. No Lender shall be prima facie evidence of the facts stated thereinliable for any other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company prior to the date on which any payment in respect of a Loan is due from it hereunder (which notice shall be effective upon receipt) that the Company does not intend to make such payment, the Administrative Agent may assume that the Company has made such payment when due and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on such payment date an amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the [[DMS:6095583v3:05/23/2023--01:55 PM]] Administrative Agent, such Bank shall, on demand, repay to the Administrative Agent the amount made available to such Bank together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank and ending on (but excluding) the date such Bank repays such amount to the Administrative Agent, at a rate per annum equal to the Administrative Agent’s cost of obtaining overnight funds in the federal funds market in New York on each such day. (b) A certificate of the Administrative Agent submitted to any Bank with respect to any amount owing under the foregoing paragraph (a) shall be prima facie evidence of the facts stated therein.

Non-Receipt of Funds by the Administrative Agent. (a) Unless the Administrative Agent shall have been notified by the Company a Lender prior to the date on which of any payment in respect of a Loan is due from it hereunder proposed Advance (which notice shall be effective upon receipt) that the Company such Lender does not intend to make the proceeds of such paymentAdvance available to the Administrative Agent, the Administrative Agent may assume that the Company such Lender has made such payment when due proceeds available to the Administrative Agent on such date, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Bank on the Borrower a corresponding amount. If such payment date an corresponding amount equal to the portion of such assumed payment to which such Bank is entitled hereunder, and if the Company has not in fact made such payment to the Administrative Agent, such Bank shall, on demand, repay available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to pay such Bank amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was made available to such Bank the Borrower and ending on (but excluding) the date such Bank repays the Administrative Agent receives such amount to from the Administrative AgentLender, with interest thereon if paid by such Lender, at a rate per annum rate equal to the Administrative Agent’s cost of obtaining overnight funds in Federal Funds Rate, and if paid by the federal funds market in New York on each such day. (b) A certificate of Borrower, at the Administrative Agent submitted to any Bank with respect to any amount owing under the foregoing paragraph (a) applicable Base Rate Basis. No Lender shall be prima facie evidence of the facts stated thereinliable for any other Lender's failure to fund an Advance hereunder.