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 date on which any payment is due to Agent for the account of the Lenders or the L/C Issuer 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 Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if Borrower has not in fact made such payment, then each of Lenders or the L/C Issuer, as the case may be, severally agrees to repay to Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available 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, at the applicable Overnight Rate from time to time in effect. 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 date on which any payment is due to the Agent for the account of the Lenders Banks or the L/C Issuer Fronting Bank hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to Lenders the Banks or the L/C IssuerFronting Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of Lenders the Banks or the L/C IssuerFronting Bank, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender Bank or the L/C IssuerFronting Bank, in immediately available funds 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, at the applicable Overnight Rate from time to time in effectRate. A notice of the Agent to any Lender Bank or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest errorprima facie evidence that such amount is due and owing.

Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for the account of the Lenders Banks or the L/C Issuer any Fronting Bank hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to Lenders the applicable Banks or the L/C Issuerapplicable Fronting Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of Lenders the applicable Banks or the L/C Issuerapplicable Fronting Bank, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender Bank or the L/C Issuersuch Fronting Bank, in immediately available funds 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, at the applicable Overnight Rate from time to time in effectRate. A notice of the Agent to any Lender Bank or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest errorprima facie evidence that such amount is due and owing.

Payments by Borrower; Presumptions by Agent. Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for the account of the Lenders or the L/C LC Issuer hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C LC Issuer, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C LC Issuer, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or the L/C LC Issuer, in immediately available funds 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, at the applicable Overnight Rate from time to time in effectRate. A notice of the Agent to any Lender or the Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by Agent. Unless Agent shall have received notice from a Borrower prior to the date on time at which any payment is due to Agent for the account of the Lenders or the L/C Issuer LC Issuers hereunder that such Borrower will not make such payment, Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Applicable Lenders or the L/C LC Issuer, as the case may be, the amount due. In such event, if Borrower has the Borrowers have not in fact made such payment, then each of the Applicable Lenders or the L/C applicable LC Issuer, as the case may be, severally agrees to repay to Agent forthwith on demand the amount so distributed to such Lender or the L/C such LC Issuer, in immediately available 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, at the applicable greater of the Overnight Rate from time to time and a rate determined by Agent in effect. A notice of Agent to any Lender or Borrower 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 date on which any payment is due to the Agent for the account of the Lenders or the L/C Issuer hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in immediately available funds 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, at the applicable Overnight Rate from time to time in effectRate. A notice of the Agent to any Lender or the Borrower with respect to any amount owing under this subsection (bc) shall be conclusive, absent manifest error.