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

Payments by Borrower; Presumptions by Agent. Unless Agent shall have received notice from Borrower prior to the time at which any payment is due to Agent for the account of the Lenders, the Issuing Lender or the Swingline Lender hereunder that Borrower will not make such payment, Agent may assume that Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders, the Issuing Lender or the Swingline Lender, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of the Lenders, the Issuing Lender or the Swingline Lender, as the case may be, severally agrees to repay to Agent forthwith on demand the amount so distributed to such Lender, the Issuing Lender or the Swingline Lender, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to Agent, as the Overnight Rate. A notice of Agent to any Lender or Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice from the Borrower prior to the time at date on which any payment is due to the Agent for the account of the Lenders, Lenders or the Issuing Lender or Bank (such payment being a “Borrower Required Payment”) that the Swingline Lender hereunder that Borrower will not make such paymentthe Borrower Required Payment, the Agent may assume that the Borrower has made such payment the Borrower Required Payment on such date in accordance herewith and may, in reliance upon such assumptionassumption (but shall not be required to), distribute to the Lenders, Lenders or the Issuing Lender or the Swingline LenderBank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such paymentBorrower Required Payment, then each of the Lenders, Lenders or the Issuing Lender or the Swingline LenderBank, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender, the Issuing Lender or the Swingline LenderIssuing Bank, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent, as at the Overnight Rate. A notice greater of the Federal Funds Rate and a rate determined by the Agent to any Lender or Borrower in accordance with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest errorbanking industry rules on interbank compensation.

Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice from the Borrower prior to the time at date on which any payment is due to the Agent for the account of the Lenders, Lenders or the Issuing Lender or Bank (such payment being a “Borrower Required Payment”) that the Swingline Lender hereunder that Borrower will not make such paymentthe Borrower Required Payment, the Agent may assume that the Borrower has made such payment the Borrower Required Payment on such date in accordance herewith and may, in reliance upon such assumptionassumption (but shall not be required to), distribute to the Lenders, Lenders or the Issuing Lender or the Swingline LenderBank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such paymentBorrower Required Payment, then each of the Lenders, Lenders or the Issuing Lender or the Swingline LenderBank, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender, the Issuing Lender or the Swingline LenderIssuing Bank, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent, as at the Overnight Rate. A notice greater of the Federal Funds Effective Rate and a rate determined by the Agent to any Lender or Borrower in accordance with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest errorbanking industry rules on interbank compensation.

Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice from the Borrower prior to the time at date on which any payment is due to the Agent for the account of the Lenders, Lenders or the Issuing Lender or Banks (such payment being a “Borrower Required Payment”) that the Swingline Lender hereunder that Borrower will not make such paymentthe Borrower Required Payment, the Agent may assume that the Borrower has made such payment the Borrower Required Payment on such date in accordance herewith and may, in reliance upon such assumptionassumption (but shall not be required to), distribute to the Lenders, Lenders or the Issuing Lender or the Swingline LenderBanks, as the case may be, the amount due. In such event, if the Borrower has not in fact made such paymentBorrower Required Payment, then each of the Lenders, Lenders or the Issuing Lender or the Swingline LenderBanks, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender, the Issuing Lender or the Swingline LenderIssuing Bank, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to Agent, as the Overnight Rate. A notice Agent at the greater of the Federal Funds Effective Rate and a rate determined by the Agent to any Lender or Borrower in accordance with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest errorbanking industry rules on interbank compensation.