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.

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.

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.

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.

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.