Common use of Payment by Agent Clause in Contracts

Payment by Agent. For greater certainty, the following provisions shall apply to any and all payments made by the Agent to the Lenders hereunder: (a) the Agent shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the applicable Borrower; (b) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by a Borrower under this Agreement, the Agent shall have no obligation to remit to each Lender any amount other than such Lender’s Applicable Percentage of that amount which is the amount actually received by the Agent; (c) if any Lender advances more or less than its Applicable Percentage of a Credit, such Lender’s entitlement to such payment shall be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d) if a Lender’s Applicable Percentage of an Advance has been advanced, or a Lender’s Commitment has been outstanding, for less than the full period to which any payment (other than a payment of principal) by a Borrower relates, such Lender’s entitlement to such payment shall be reduced in proportion to the length of time such Lender’s Applicable Percentage of the applicable Credit or such Lender’s Commitment, as the case may be, has actually been outstanding; (e) the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination shall, in the absence of manifest error, be binding and conclusive; and (f) upon request, the Agent shall deliver a statement detailing any of the payments to the Lenders referred to herein.

Payment by Agent. For greater certainty, the following provisions shall apply to any and all payments made by the Agent to the Lenders hereunder: (a) the Agent shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the applicable Borrower; (b) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by a the Borrower under this Agreement, the Agent shall have no obligation to remit to each Lender any amount other than such Lender’s Applicable Percentage of that amount which is the amount actually received by the Agent; (c) if any Lender advances more or less than its Applicable Percentage of a the Credit, such Lender’s entitlement to such payment shall be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d) if a Lender’s Applicable Percentage of an Advance has been advanced, or a Lender’s Commitment has been outstanding, for less than the full period to which any payment (other than a payment of principal) by a Borrower relates, such Lender’s entitlement to such payment shall be reduced in proportion to the length of time such Lender’s Applicable Percentage of the applicable Credit Credits or such Lender’s Commitment, as the case may be, has actually been outstanding; (e) the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination shall, in the absence of manifest error, be binding and conclusive; and (f) upon request, the Agent shall deliver a statement detailing any of the payments to the Lenders referred to herein.

Payment by Agent. For greater certainty, the following provisions shall apply to any and all payments made by the Agent to the Lenders hereunder: (a1) the Agent shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the applicable Borrower; (b2) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by a the Borrower under this Agreement, the Agent shall have no obligation to remit to each Lender any amount other than such Lender’s Applicable Percentage of that amount which is the amount actually received by the Agent; (c3) if any Lender advances more or less than its Applicable Percentage of a the Credit, such Lender’s entitlement to such payment shall be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d4) if a Lender’s Applicable Percentage of an Advance has been advanced, or a Lender’s Commitment has been outstanding, for less than the full period to which any payment (other than a payment of principal) by a Borrower relates, such Lender’s entitlement to such payment shall be reduced in proportion to the length of time such Lender’s Applicable Percentage of the applicable Credit or such Lender’s Commitment, as the case may be, has actually been outstanding; (e5) the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination shall, in the absence of manifest error, be binding and conclusive; and (f6) upon request, the Agent shall deliver a statement detailing any of the payments to the Lenders referred to herein.

Payment by Agent. For greater certainty, the following provisions shall apply to any and all payments made by the Agent to the Lenders hereunder: (a1) the Agent shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the applicable Borrower; (b2) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by a the Borrower under this Agreement, the Agent shall have no obligation to remit to each Lender any amount other than such Lender’s 's Applicable Percentage of that amount which is the amount actually received by the Agent; (c3) if any Lender advances more or less than its Applicable Percentage of a the Credit, such Lender’s 's entitlement to such payment shall be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d4) if a Lender’s 's Applicable Percentage of an Advance has been advanced, or a Lender’s 's Commitment has been outstanding, for less than the full period to which any payment (other than a payment of principal) by a Borrower relates, such Lender’s 's entitlement to such payment shall be reduced in proportion to the length of time such Lender’s 's Applicable Percentage of the applicable Credit or such Lender’s 's Commitment, as the case may be, has actually been outstanding; (e5) the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination shall, in the absence of manifest error, be binding and conclusive; and (f6) upon request, the Agent shall deliver a statement detailing any of the payments to the Lenders referred to herein.