Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. In the event that Borrower does not reimburse the Issuing Bank for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.5(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 2.19(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 2.13(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 2.19(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 2.19

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 2.19(E2.20(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.5(B2.6(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 2.19(F2.20(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 2.13(A2.14(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 2.19(F2.20(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 2.192.20

Payment by Lenders. In the event that Borrower does not reimburse the Issuing Bank for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.5(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 2.19(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 2.13(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 2.19(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 2.19

Payment by Lenders. In the event that Borrower does not reimburse the Issuing Bank Agent for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.5(B)SECTION 2.12.5 , 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 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 2.19(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 2.13(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 2.19(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 2.19SECTION 2.

Payment by Lenders. In the event that Borrower does not reimburse the Issuing Bank Agent for the full amount of any drawing or any payment under the Participation Agreement pursuant to Subsection 2.19(E), unless Agent shall elect to make a Revolving Loan in accordance with Subsection 2.5(B)Section 2.12.5 , 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 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 2.19(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 2.13(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 2.19(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 2.19Section 2.12.6 with respect to any Letter of Credit such other Lender's Pro Rata Share of all payments subsequently received by Agent from Borrower in reimbursement of payments made by Agent under such Letter of Credit when such payments are received.