Common use of Non-Receipt of Funds Clause in Contracts

Non-Receipt of Funds. Unless Administrative Agent shall have received notice from a Lender prior to the proposed date of any Loan that such Lender will not make available to Administrative Agent such Lender’s share of such Loan, Administrative Agent may assume that such Lender has made or, on the Settlement Date, will make such share available in accordance with Section 2.05 hereof and may, in reliance upon such assumption, make available to Borrower a corresponding amount. In such event, if any Lender has not in fact made its share of the applicable Loan available to Administrative Agent by the Settlement Date, then the applicable Lender and Borrower severally agree to pay to Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate, or (ii) in the case of Borrower, the Base Rate. If such Lender pays such amount to Administrative Agent, then such amount shall constitute such Lender’s share of such Loan.

Non-Receipt of Funds. Unless Administrative Agent shall have received notice from a Lender prior to the proposed date of any Loan that such Lender will not make available to Administrative Agent such Lender’s 's share of such Loan, Administrative Agent may assume that such Lender has made or, on the Settlement Date, will make such share available in accordance with Section 2.05 hereof and may, in reliance upon such assumption, make available to Borrower a corresponding amount. In such event, if any Lender has not in fact made its share of the applicable Loan available to Administrative Agent by the Settlement Date, then the applicable Lender and Borrower severally agree to pay to Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to Borrower to but excluding the date of payment to Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate, or (ii) in the case of Borrower, the Base Rate. If such Lender pays such amount to Administrative Agent, then such amount shall constitute such Lender’s 's share of such Loan.

Non-Receipt of Funds. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Loan Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such LoanBorrowing, the Administrative Agent may assume that such Lender has made or, on the Settlement Date, will make such share available on such date in accordance with Section 2.05 hereof and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if any a Lender has not in fact made its share of the applicable Loan Borrowing available to the Administrative Agent by the Settlement DateAgent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate, Rate or (ii) in the case of the Borrower, the Base Rateinterest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s share of 's Loan included in such LoanBorrowing.

Non-Receipt of Funds. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Loan Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such LoanBorrowing, the Administrative Agent may assume that such Lender has made or, on the Settlement Date, will make such share available on such date in accordance with paragraph (a) of this Section 2.05 hereof and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if any a Lender has not in fact made its share of the applicable Loan Borrowing available to the Administrative Agent by the Settlement DateAgent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate, Rate or (ii) in the case of the Borrower, the Base Rateinterest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s share of 's Loan included in such LoanBorrowing.