Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. (a) In the event that the Borrower does not ------------------ reimburse an Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose, the Payments Administrator shall promptly notify each Lender of the unreimbursed amount and of such Lender's respective participation therein. Each Lender shall make available to such Issuing Bank an amount equal to its respective participation in same day funds, at the office of such Issuing Bank specified in such notice, not later than 1:00 P.M. New York City time on the Business Day after the date notified by the Payments Administrator. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 3.6, such Issuing Bank shall be entitled to recover such amount on demand from such Lender, together with interest at the Federal Funds Rate. (b) The Payments Administrator or the Issuing Bank, as the case may be, shall distribute to each Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit such Lender's Proportionate Share of all payments subsequently received by the Payments Administrator or the Issuing Bank, as the case may be, from the Borrower in reimbursement of drawings honored under such Letter of Credit when such payments are received.

Payment by Lenders. (a) In the event that the Borrower does not ------------------ reimburse an Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose, the Payments Administrator shall promptly notify each Lender of the unreimbursed amount and of such Lender's respective participation therein. Each Lender shall make available to such Issuing Bank an amount equal to its respective participation in same day funds, at the office of such Issuing Bank specified in such notice, not later than 1:00 P.M. New York City time on the Business Day after the date notified by the Payments Administrator. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 3.6, such Issuing Bank shall be entitled to recover such amount on demand from such Lender, together with interest at the Federal Funds Rate. (b) The Payments Administrator or the any Issuing Bank, as the case may be, shall distribute to each Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit such Lender's Proportionate Share of all payments subsequently received by the Payments Administrator or the respective Issuing Bank, as the case may be, from the Borrower in reimbursement of drawings honored under such Letter of Credit when such payments are received.

Payment by Lenders. (a) In the event that the Borrower does Borrowers do not ------------------ reimburse an the Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose3.5, the Payments Administrator Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such LenderXxxxxx's respective participation therein. Each Lender shall make available to such the Issuing Bank an amount equal to its respective participation in same day funds, at the office of such the Issuing Bank specified in such notice, not later than 1:00 P.M. p.m. (New York City time time) on the first Business Day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by the Payments AdministratorAgent. In the event that any Lender fails to make available to the Issuing Bank the amount of such LenderXxxxxx's participation in such Letter of Credit as provided in this Section 3.6, such the Issuing Bank shall be entitled to recover such amount on demand from such Lender, Lender together with interest at the Federal Funds Rate for three (3) Business Days and thereafter at the Prime Lending Rate. (b) . The Payments Administrator Agent or the Issuing Bank, as the case may be, Bank shall distribute to each other Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Share of all payments subsequently received by the Payments Administrator Agent or the Issuing Bank, as the case may be, Bank from the Borrower Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payment by Lenders. (a) In the event that the Borrower does not ------------------ reimburse an the Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose, the Payments Administrator Administrative Agent shall promptly notify each Lender of the unreimbursed amount and of such Lender's respective participation therein. Each Lender shall make available to such the Issuing Bank an amount equal to its respective participation in same day funds, at the office of such the Issuing Bank specified in such notice, not later than 1:00 P.M. (New York City time time) on the Business Day after the date notified by the Payments AdministratorAdministrative Agent. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 3.6, such the Issuing Bank shall be entitled to recover such amount on demand from such Lender, together with interest at the Federal Funds Rate. (b) The Payments Administrator Administrative Agent or the Issuing Bank, as the case may be, shall distribute to each Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit such Lender's Proportionate Share Revolving Loan Percentage of all payments subsequently received by the Payments Administrator Administrative Agent or the Issuing Bank, as the case may be, from the Borrower in reimbursement of drawings honored under such Letter of Credit when such payments are received.

Payment by Lenders. (a) In the event that the Borrower does not ------------------ reimburse an Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose, the Payments Administrator shall promptly notify each Lender of the unreimbursed amount and of such Lender's ’s respective participation therein. Each Lender shall make available to such Issuing Bank an amount equal to its respective participation in same day funds, at the office of such Issuing Bank specified in such notice, not later than 1:00 P.M. New York City time on the Business Day after the date notified by the Payments Administrator. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's ’s participation in such Letter of Credit as provided in this Section 3.6, such Issuing Bank shall be entitled to recover such amount on demand from such Lender, together with interest at the Federal Funds Rate. (b) The Payments Administrator or the Issuing Bank, as the case may be, shall distribute to each Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit such Lender's ’s Proportionate Share of all payments subsequently received by the Payments Administrator or the Issuing Bank, as the case may be, from the Borrower in reimbursement of drawings honored under such Letter of Credit when such payments are received.

Payment by Lenders. (a) In the event that the Borrower does not ------------------ reimburse an the Issuing Bank for the amount of any drawing pursuant to Section 3.5 and the proceeds of Revolving Loans incurred for such purpose are insufficient for such purpose, the Payments Administrator shall promptly notify each Lender of the unreimbursed amount and of such Lender's respective participation therein. Each Lender shall make available to such the Issuing Bank an amount equal to its respective participation in same day funds, at the office of such Issuing Bank specified in such notice, not later than 1:00 P.M. New York City time on the Business Day after the date notified by the Payments Administrator. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 3.6, such the Issuing Bank shall be entitled to recover such amount on demand from such Lender, together with interest at the Federal Funds Rate. (b) The Payments Administrator or the Issuing Bank, as the case may be, shall distribute to each Lender which has paid all amounts payable by it under this Section 3.6 with respect to any Letter of Credit Credit, such Lender's Proportionate Share of all payments subsequently received by the Payments Administrator or the Issuing Bank, as the case may be, from the Borrower in reimbursement of drawings honored under such Letter of Credit when such payments are received.