Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. In the event that a Borrower does not reimburse the Issuing Bank for the full amount of any drawing pursuant to Subsection 2.20(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B), Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Unless Agent shall have so elected, each Lender shall make available to Agent for the benefit of the Issuing Bank an amount equal to such Lender's respective participation in immediately available funds, not later than 2:00 P.M. Chicago time on the business day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations as provided in this Subsection 2.20(F), Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A). In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter of Credit as provided in this Subsection 2.20(F), and Agent does not elect to fund to the Issuing Bank such Defaulting Lender's participation in such Letter of Credit as provided in the immediately preceding sentence, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Rate. Agent shall distribute to each Lender which has paid all amounts payable by it under this Subsection 2.20(F) with respect to any Letter of Credit issued by the Issuing Bank such Lender's Proportionate Share of all payments subsequently received by Agent from the Borrower for whose account the Letter of Credit was issued in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that a Borrower does not reimburse the Issuing Bank Agent for the full amount of any drawing pursuant to Subsection 2.20(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B)Section 2.12.5 , Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Unless Agent shall have so elected, each Lender shall make available to Agent for the benefit of the Issuing Bank an amount equal to such Lender's respective participation in immediately available funds, not later than 2:00 1:00 P.M. Chicago time on the business day (under the laws of the jurisdiction of the Issuing Bank) Business Day after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations LC Guaranty as provided in this Subsection 2.20(F)Section 2.12.6, Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit LC Guaranty and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A)Lender. In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter of Credit LC Guaranty as provided in this Subsection 2.20(F)Section 2.12.6, and Agent does not elect to fund to the Issuing Bank such Defaulting defaulting Lender's participation in such Letter of Credit LC Guaranty as provided in the immediately preceding sentence, the Issuing Bank Agent shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Prime Rate. Agent shall distribute to each other Lender which has paid all amounts payable by it under this Subsection 2.20(F) Section 2.12.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Pro Rata Share of all payments subsequently received by Agent from the Borrower for whose account the Letter of Credit was issued in reimbursement of drawings honored payments made by the Issuing Bank Agent under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that If a Borrower does Revolving Loan is not made ------------------ in an amount sufficient to reimburse the Issuing Bank in full for the full amount of any drawing pursuant to Subsection 2.20(E)draw, unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B), the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Unless Agent shall have so elected, each Each Lender shall make available to Agent the Agent, for the benefit account of the Issuing Bank an Bank, the amount equal to such Lender's respective of its participation in immediately available funds, funds not later than 2:00 1:00 P.M. Chicago time on the business day (under next Business Day after such Lender receives notice from the laws Agent of the jurisdiction of the Issuing Bank) after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations as provided in this Subsection 2.20(F), Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A). In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter unreimbursed amount. The obligation of Credit as provided each Lender to deliver to Agent an amount equal to its respective participation shall be absolute and unconditional and such remittance shall be made notwithstanding the occurrence or continuation of a Default or an Event of Default or the failure to satisfy any of the conditions set forth in this Subsection 2.20(F), and Agent does not elect Section 5.2. If any Lender fails to fund make available to the Issuing Bank Agent the amount of such Defaulting Lender's participation in such Letter of Credit as provided in the immediately preceding sentenceparticipation, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Prime Lending Rate. For each Letter of Credit, the Agent shall promptly distribute to each Lender which has paid all amounts payable by it under this Subsection 2.20(F) with respect to any Letter funded the amount of Credit issued by the Issuing Bank such Lender's its participation its Proportionate Share of all payments subsequently received by the Agent from the Borrower for whose account in reimbursement of honored drawings. All amounts paid by the Issuing Agent with respect to any Letter of Credit was issued in reimbursement that are not immediately repaid with the proceeds of drawings honored by a Revolving Loan or otherwise shall bear interest at the Issuing Bank under such Letter of Credit when such payments are receivedinterest rate applicable to Revolving Loans.

Payment by Lenders. In the event that a Borrower does not reimburse the Issuing Bank Agent for the full amount of any drawing pursuant to Subsection 2.20(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B)SECTION 2.12.5 , Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Unless Agent shall have so elected, each Lender shall make available to Agent for the benefit of the Issuing Bank an amount equal to such Lender's respective participation in immediately available funds, not later than 2:00 1:00 P.M. Chicago time on the business day (under the laws of the jurisdiction of the Issuing Bank) Business Day after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations LC Guaranty as provided in this Subsection 2.20(F)SECTION 2.12.6, Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit LC Guaranty and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A)Lender. In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter of Credit LC Guaranty as provided in this Subsection 2.20(F)SECTION 2.12.6, and Agent does not elect to fund to the Issuing Bank such Defaulting defaulting Lender's participation in such Letter of Credit LC Guaranty as provided in the immediately preceding sentence, the Issuing Bank Agent shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Prime Rate. Agent shall distribute to each other Lender which has paid all amounts payable by it under this Subsection 2.20(F) SECTION 2.12.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Pro Rata Share of all payments subsequently received by Agent from the Borrower for whose account the Letter of Credit was issued in reimbursement of drawings honored payments made by the Issuing Bank Agent under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that a Borrower does not reimburse the Issuing Bank for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.20(E2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B2.5(B), Agent shall promptly notify each Lender of the unreimbursed amount of such drawing or such payment under the Participation Agreement and of such Lender's respective participation therein. Unless Agent shall have so elected, each Lender shall make available to Agent for the benefit of the Issuing Bank an amount equal to such Lender's respective participation in immediately available funds, not later than 2:00 P.M. Chicago time on the business day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations as provided in this Subsection 2.20(F2.19(F), Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A2.13(A). In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter of Credit as provided in this Subsection 2.20(F2.19(F), and Agent does not elect to fund to the Issuing Bank such Defaulting Lender's participation in such Letter of Credit as provided in the immediately preceding sentence, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Effective Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Floating Rate. Agent shall distribute to each Lender which has paid all amounts payable by it under this Subsection 2.20(F2.19(F) with respect to any Letter of Credit issued by the Issuing Bank such Lender's Revolving Proportionate Share of all payments subsequently received by Agent from the Borrower for whose account the Letter of Credit was issued in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit or payments made by Bank One under the Participation Agreement when such reimbursement payments are receivedreceived from Borrower.

Payment by Lenders. In the event that a Borrower does not reimburse the Issuing Bank for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.20(E2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.6(B2.5(B), Agent shall promptly notify each Lender of the unreimbursed amount of such drawing or such payment under the Participation Agreement and of such Lender's respective participation therein. Unless Agent shall have so elected, each Lender shall make available to Agent for the benefit of the Issuing Bank an amount equal to such Lender's respective participation in immediately available funds, not later than 2:00 P.M. Chicago time on the business day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by Agent. In addition, in the event that any Lender fails to make available to Agent the amount of any such Lender's participation in such Letter of Credit Obligations as provided in this Subsection 2.20(F2.19(F), Agent may, but shall not be obligated to, fund the amount of such Defaulting Lender's participation in such Letter of Credit and recover such amount on demand from such Defaulting Lender in accordance with Subsection 2.14(A2.13(A). In the event that any Lender fails to make available to Agent the amount of such Lender's participation in such Letter of Credit as provided in this Subsection 2.20(F2.19(F), and Agent does not elect to fund to the Issuing Bank such Defaulting Lender's participation in such Letter of Credit as provided in the immediately preceding sentence, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three Business Days while such amount remains unpaid and thereafter at the Base Rate. Agent shall distribute to each Lender which has paid all amounts payable by it under this Subsection 2.20(F2.19(F) with respect to any Letter of Credit issued by the Issuing Bank such Lender's Revolving Proportionate Share of all payments subsequently received by Agent from the Borrower for whose account the Letter of Credit was issued in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit or payments made by ANB under the Participation Agreement when such reimbursement payments are receivedreceived from Borrower.