Common use of Payment Protection Clause in Contracts

Payment Protection. Unless upon the date of receipt by a Lender of any notice of Borrowing the Administrative Agent has been notified by such Lender that such Lender will not make available to the Administrative Agent its Rateable Portion of such Borrowing, the Administrative Agent shall be entitled to assume that such Lender has made such Rateable Portion of such Borrowing available to the Administrative Agent on the Borrowing Date in accordance with the provisions hereof and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers on such Borrowing Date a corresponding amount. If and to the extent such Lender shall not have so made its Rateable Portion of such Borrowing available to the Administrative Agent, such Lender and the Borrowers agree to pay or repay, as the case may be, to the Administrative Agent forthwith on demand such Lender's Rateable Portion of such Borrowing together with interest thereon at the rate provided herein in respect of such Borrowing for each day from such Borrowing Date until the date such Lender's Rateable Portion of such Borrowing is paid or prepaid to the Administrative Agent. The amount payable to the Administrative Agent pursuant hereto shall be as set forth in a certificate delivered by the Administrative Agent to such Lender and the Borrowers and shall be prima facie evidence of the amount payable, for all purposes, absent manifest error. If such Lender makes the payment of the amount payable to the Administrative Agent as required herein, the amount so paid shall constitute such Lender's Rateable Portion of the Borrowing for purposes of this Agreement. The failure of any Lender to make available its Rateable Portion of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make available its Rateable Portion of such Borrowing on the Borrowing Date but no Lender shall be responsible for the failure of any other Lender to make its Rateable Portion of such Borrowing available on such Borrowing Date. Nothing herein shall affect or limit any right of action a Borrower may have under Applicable Law against the defaulting Lender.

Payment Protection. Unless upon the date of receipt by a Lender of any notice of Borrowing the Administrative Agent has been notified by such Lender that such Lender will not make available to the Administrative Agent its Rateable Portion of such Borrowing, the Administrative Agent shall be entitled to assume that such Lender has made such Rateable Portion portion of such the Borrowing available to the Administrative Agent on the Borrowing Date in accordance with the provisions hereof and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers on such Borrowing Date date a corresponding amount. If and to the extent such Lender shall not have so made its Rateable Portion of such the Borrowing available to the Administrative Agent, such Lender and the Borrowers agree to pay or repay, as the case may be, to the Administrative Agent forthwith on demand such Lender's Rateable Portion of such the Borrowing together with interest thereon at the rate provided herein in respect of such Borrowing for each day from the date such Borrowing Date amount is made available to the Borrowers until the date such Lender's Rateable Portion of such Borrowing amount is paid or prepaid to the Administrative Agent. The amount payable to the Administrative Agent pursuant hereto shall be as set forth in a certificate delivered by the Administrative Agent to such Lender and the Borrowers and shall be prima facie evidence of the amount payableevidence, for all purposes, absent manifest error. If such Lender makes the payment of the amount payable to the Administrative Agent as required herein, the amount so paid shall constitute such Lender's Rateable Portion of the Borrowing for purposes of this Agreement. The failure of any Lender to make available its the Rateable Portion of any the Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make available its Rateable Portion of such the Borrowing on the Borrowing Date but no Lender shall be responsible for the failure of any other Lender to make its Rateable Portion of such Borrowing available on such Borrowing Date. Nothing herein shall affect or limit any right of action a Borrower may have under Applicable Law against the defaulting Lender.

Payment Protection. Unless upon the date of receipt by a Lender of any notice of Borrowing the Administrative Agent has been notified by such Lender that such Lender will not make available to the Administrative Agent its Rateable Portion of such Borrowing, the Administrative Agent shall be entitled to assume that such Lender has made such Rateable Portion portion of such the Borrowing available to the Administrative Agent on the Borrowing Date in accordance with the provisions hereof and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers on such Borrowing Date date a corresponding amount. If and to the extent such Lender shall not have so made its Rateable Portion of such the Borrowing available to the Administrative Agent, such Lender and the Borrowers agree to pay or repay, as the case may be, to the Administrative Agent forthwith on demand such Lender's Rateable Portion of such the Borrowing together with interest thereon at the rate provided herein in respect of such Borrowing for each day from the date such Borrowing Date amount is made available to the Borrowers until the date such Lender's Rateable Portion of such Borrowing amount is paid or prepaid to the Administrative Agent. The amount payable to the Administrative Agent pursuant hereto shall be as set forth in a certificate delivered by the Administrative Agent to such Lender and the Borrowers and shall be prima facie evidence of the amount payableevidence, for all purposes, absent manifest error. If such Lender makes the payment of the amount payable to the Administrative Agent as required herein, the amount so paid shall constitute such Lender's Rateable Portion of the Borrowing for purposes of this Agreement. The failure of any Lender to make available its the Rateable Portion of any the Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make available its Rateable Portion of such the Borrowing on the Borrowing Date but no Lender shall be responsible for the failure of any other Lender to make its Rateable Portion of such Borrowing available on such Borrowing Date. Nothing herein shall affect or limit any right of action a Borrower may have under Applicable Law against the defaulting Lender.

Payment Protection. Unless upon the date of receipt by a Lender of any notice of Borrowing the Administrative Agent has been notified by such a Lender that such Lender will not make available to the Administrative Agent its portion of such Borrowing in the proportions set out in Section 2.03 (the “Rateable Portion of such Borrowing”), the Administrative Agent shall be entitled to assume that such Lender has made such Rateable Portion of such Borrowing available to the Administrative Agent on the Borrowing Date in accordance with the provisions hereof and the Administrative Agent may, in reliance upon such assumption, make available to the Borrowers on such Borrowing Date a corresponding amount. If and to the extent such Lender shall not have so made its such Rateable Portion of such Borrowing available to the Administrative Agent, such Lender and the Borrowers agree to pay or repay, as the case may be, to the Administrative Agent forthwith on demand such Lender's ’s Rateable Portion of such Borrowing together with interest thereon at the rate provided herein in respect of such Borrowing for each day from such Borrowing Date until the date such Lender's ’s Rateable Portion of such Borrowing is paid or prepaid to the Administrative Agent. The amount payable to the Administrative Agent pursuant hereto shall be as set forth in a certificate delivered by the Administrative Agent to such Lender and the Borrowers and shall be prima facie evidence of the amount payable, for all purposes, absent manifest error. If such Lender makes the payment of the amount payable to the Administrative Agent as required herein, the amount so paid shall constitute such Lender's ’s Rateable Portion of the such Borrowing for purposes of this Agreement. The failure of any Lender to make available its Rateable Portion portion of any such Borrowing in the proportions set out in Section 2.03 shall not relieve any other Lender of its obligation, if any, hereunder to make available its Rateable Portion portion of such Borrowing in the proportions set out in Section 2.03 on the Borrowing Date but no Lender shall be responsible for the failure of any other Lender to make its Rateable Portion portion of such Borrowing in the proportions set out in Section 2.03 available on such Borrowing Date. Nothing herein shall affect or limit any right of action a Borrower may have under Applicable Law against the defaulting Lender.