Common use of Payments by Borrower; Presumptions by Agent Clause in Contracts

Payments by Borrower; Presumptions by Agent. Unless the Administrative Agent shall have been notified in writing by the Borrowers, prior to the date on which any payment is due from it hereunder (which notice shall be effective upon receipt) that the Borrowers do not intend to make such payment, the Administrative Agent may assume that the Borrowers have made such payment when due, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Lender on such payment date an amount equal to the portion of such assumed payment to which such Lender is entitled hereunder, and if the Borrowers have not in fact made such payment to the Administrative Agent, such Lender shall, on demand, repay to the Administrative Agent the amount made available to such Lender. If such amount is repaid to the Administrative Agent on a date after the date such amount was made available to such Lender, such Lender shall pay to the Administrative Agent on demand interest on such amount in respect of each day from the date such amount was made available by the Administrative Agent at a per annum rate equal to, if repaid to the Administrative Agent within two (2) days from the date such amount was made available by the Administrative Agent, the Federal Funds Rate, and thereafter at a rate equal to the Alternate Base Rate.

Payments by Borrower; Presumptions by Agent. Unless the Administrative applicable Agent shall have been notified in writing by the BorrowersApplicable Borrower, prior to the date on which any payment is due from it hereunder (which notice shall be effective upon receipt) that the Borrowers do Applicable Borrower does not intend to make such payment, the Administrative such Agent may assume that the Borrowers have such Borrower has made such payment when due, and the Administrative such Agent may in reliance upon such assumption (but shall not be required to) make available to each Lender on such payment date an amount equal to the portion of such assumed payment to which such Lender is entitled hereunder, and if the Borrowers have such Borrower has not in fact made such payment to the Administrative such Agent, such Lender shall, on demand, repay to the Administrative such Agent the amount made available to such Lender. If such amount is repaid to the Administrative such Agent on a date after the date such amount was made available to such Lender, such Lender shall pay to the Administrative such Agent on demand interest on such amount in respect of each day from the date such amount was made available by the Administrative such Agent at a per annum rate equal to, if repaid to the Administrative such Agent within two (2) days from the date such amount was made available by the Administrative such Agent, the Federal Funds Rate or the Interbank Reference Rate, as applicable, and thereafter at a rate equal to the Alternate Base Rate.

Payments by Borrower; Presumptions by Agent. Unless the Administrative Agent shall have been notified in writing by the BorrowersBorrower, prior to the date on which any payment is due from it hereunder (which notice shall be effective upon receipt) that the Borrowers do Borrower does not intend to make such payment, the Administrative Agent may assume that the Borrowers have Borrower has made such payment when due, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Lender on such payment date an amount equal to the portion of such assumed payment to which such Lender is entitled hereunder, and if the Borrowers have Borrower has not in fact made such payment to the Administrative Agent, such Lender shall, on demand, repay to the Administrative Agent the amount made available to such Lender. If such amount is repaid to the Administrative Agent on a date after the date such amount was made available to such Lender, such Lender shall pay to the Administrative Agent on demand interest on such amount in respect of each day from the date such amount was made available by the Administrative Agent at a per annum rate equal to, if repaid to the Administrative Agent within two (2) days from the date such amount was made available by the Administrative Agent, the Federal Funds Rate, and thereafter at a rate equal to the Alternate Base Rate.

Payments by Borrower; Presumptions by Agent. Unless the Administrative Agent shall have been notified in writing by the BorrowersBorrower, prior to the date on which any payment is due from it hereunder (which notice shall be effective upon receipt) that the Borrowers do Borrower does not intend to make such payment, the Administrative Agent may assume that the Borrowers have Borrower has made such payment when due, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Lender on such payment date an amount equal to the portion of such assumed payment to which such Lender Xxxxxx is entitled hereunder, and if the Borrowers have Borrower has not in fact made such payment to the Administrative Agent, such Lender shall, on demand, repay to the Administrative Agent the amount made available to such Lender. If such amount is repaid to the Administrative Agent on a date after the date such amount was made available to such Lender, such Lender shall pay to the Administrative Agent on demand interest on such amount in respect of each day from the date such amount was made available by the Administrative Agent at a per annum rate equal to, if repaid to the Administrative Agent within two (2) days from the date such amount was made available by the Administrative Agent, the Federal Funds Rate, and thereafter at a rate equal to the Alternate Base Rate.