Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. If Revolving Loans are not made in an amount ------------------ sufficient to reimburse the Issuing Bank in full for the amount of any draw, the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent, for the account of the Issuing Bank, the amount of its participation in immediately available funds not later than 12:00 P.M. Los Angeles time on the next Business Day. If any Lender fails to make available to the Agent the amount of such Lender's participation, 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 and thereafter at the Prime Rate. For each L/C, the Agent shall promptly distribute to each Lender which has funded the amount of its participation its Pro Rata Share of all payments subsequently received by the Agent from the Borrower in reimbursement of honored drawings thereunder.

Payment by Lenders. If Revolving Loans are not made in an amount ------------------ sufficient to reimburse the Issuing Bank in full for the amount of any draw, the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent, for the account of the Issuing Bank, the amount of its participation in immediately available funds not later than 12:00 P.M. Los Angeles time on the next Business Day. If any Lender fails to make available to the Agent the amount of such Lender's participation, 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 and thereafter at the Prime Rate. For each L/C, the Agent shall promptly distribute to each Lender which has funded the amount of its participation its Pro Rata Share of all payments subsequently received by the Agent from the Borrower in reimbursement of honored drawings thereunder.

Payment by Lenders. If Revolving Loans are not made in an amount ------------------ sufficient to reimburse the Issuing Bank in full for the amount of any draw, the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent, for the account of the Issuing Bank, the amount of its participation in immediately available funds not later than 12:00 1:00 P.M. Los Angeles New York time on the next Business Day. If any Lender fails to make available to the Agent the amount of such Lender's participation, 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 and thereafter at the Prime Lending Rate. For each L/CLetter of Credit, the Agent shall promptly distribute to each Lender which has funded the amount of its participation its Pro Rata Proportionate Share of all payments subsequently received by the Agent from the Borrower in reimbursement of honored drawings thereunderdrawings.