Common use of PAYMENTS ASSUMED Clause in Contracts

PAYMENTS ASSUMED. Unless the Agent shall have received notice ---------------- from the Borrower prior to the date on which any payment is due to the Lenders or the L/C Bank hereunder that the Borrower will not make such payment in full, the Agent may assume that the Borrower has made such payment in full to the Agent on such date and the Agent may, in reliance upon such assumption, but shall not be required to, cause to be distributed to each Lender or the L/C Bank on such due date an amount equal to the amount then due to such Lender or such the L/C Bank. If and to the extent that the Borrower shall not have so made such payment in full to the Agent, each Lender and the L/C Bank shall repay to the Agent forthwith on demand such amount distributed to such Lender or the L/C Bank together with interest thereon, for each day from the date such amount is distributed to such Lender or the L/C Bank until the date such Lender or the L/C Bank repays such amount to the Agent, at the Federal Funds Rate.

PAYMENTS ASSUMED. Unless the Administrative Agent shall have ---------------- received notice ---------------- from the Borrower prior to the date on which any payment is due to the Lenders or the any L/C Bank hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, but shall not be required to, cause to be distributed to each Lender or the such L/C Bank on such due date an amount equal to the amount then due to such Lender or such the L/C Bank. If and to the extent that the Borrower shall not have so made such payment in full to the Administrative Agent, each Lender and the L/C Bank shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender or the L/C Bank together with interest thereon, for each day from the date such amount is distributed to such Lender or the L/C Bank until the date such Lender or the L/C Bank repays such amount to the Administrative Agent, at the Federal Funds RateRate with respect to the three-day period commencing from the date such amount is distributed to such Lender Party and at the interest rate applicable to Base Rate Advances at such time thereafter.

PAYMENTS ASSUMED. Unless the Administrative Agent shall ---------------- have received notice ---------------- from the Borrower prior to the date on which any payment is due to the Lenders or the L/C any Issuing Bank hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, but shall not be required to, cause to be distributed to each Lender or the L/C such Issuing Bank on such due date an amount equal to the amount then due to such Lender or such the L/C Issuing Bank. If and to the extent that the Borrower shall not have so made such payment in full to the Administrative Agent, each Lender and the L/C Issuing Bank shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender or the L/C Issuing Bank together with interest thereon, for each day from the date such amount is distributed to such Lender or the L/C Issuing Bank until the date such Lender or the L/C Issuing Bank repays such amount to the Administrative Agent, at the Federal Funds Rate.

PAYMENTS ASSUMED. Unless the Administrative Agent shall have received notice ---------------- from the Borrower prior to the date on which any payment is due to the Lenders or the any L/C Bank hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, but shall not be required to, cause to be distributed to each Lender or the such L/C Bank on such due date an amount equal to the amount then due to such Lender or such the L/C Bank. If and to the extent that the Borrower shall not have so made such payment in full to the Administrative Agent, each Lender and the L/C Bank shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender or the L/C Bank together with interest thereon, for each day from the date such amount is distributed to such Lender or the L/C Bank until the date such Lender or the L/C Bank repays such amount to the Administrative Agent, at the Federal Funds RateRate with respect to the three-day period commencing from the date such amount is distributed to such Lender Party and at the interest rate applicable to Base Rate Advances at such time thereafter.