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

Payments by Borrower; Presumptions by Agents. Unless the Administrative Agent or the Canadian Agent, as applicable, shall have received notice from Xxxxx, a Canadian Borrower, or a PR Borrower, or a U.K. Borrower, as applicable, prior to the date on which any payment is due to such Agent for the account of the Lenders or the L/C Issuers hereunder that such Borrower will not make such payment, such 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 Lenders or the L/C Issuers, as the case may be, the amount due. With respect to any payment that any Agent makes for the account of any Lender or any L/C Issuer hereunder as to which such Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (A) the applicable Borrower has not in fact made such payment; (B) such Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (C) such Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to such Agent forthwith on demand the Rescindable Amount so distributed to such Lender or such L/C Issuer, 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 such Agent, at the greater of the Federal Funds Rate and a rate determined by such Agent in accordance with banking industry rules on interbank compensation. A notice of the applicable Agent to any Lender or any Borrower with respect to any amount owing under this Section 2.12(b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by Agents. Unless the Administrative Agent or the Canadian Agent, as applicable, shall have received notice from Xxxxx, a Canadian Borrower, or a PR Borrower, or a U.K. Borrower, as applicable, the Borrower prior to the date on time at which any payment is due to such the Administrative Agent for the account of the Lenders or the L/C Issuers Issuer hereunder that such the Borrower will not make such payment, such the Administrative Agent may assume that such the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the L/C IssuersIssuer, as the case may be, the amount due. With respect to any payment that any Agent makes for In such event, if the account of any Lender or any L/C Issuer hereunder as to which such Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (A) the applicable Borrower has not in fact made such payment; (B) such Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (C) such Agent has for any reason otherwise erroneously made such payment; , then each of the Appropriate Lenders or the L/C IssuersIssuer, as the case may be, severally agrees to repay to such the Administrative Agent forthwith on demand the Rescindable Amount amount so distributed to such Lender or such the L/C Issuer, in Same Day Funds 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 such the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by such the Administrative Agent in accordance with banking industry rules on interbank compensation. A notice of the applicable Administrative Agent to any Lender or any the Borrower with respect to any amount owing under this Section 2.12(bsubsection (c) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by Agents. Unless the Administrative Agent or the Canadian Agent, as applicable, shall have received notice from XxxxxRyder, a Canadian Borrower, or a PR Borrower, or a U.K. Borrower, as applicable, prior to the date on which any payment is due to such Agent for the account of the Lenders or the L/C Issuers hereunder that such Borrower will not make such payment, such 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 Lenders or the L/C Issuers, as the case may be, the amount due. With respect to any payment that any Agent makes for the account of any Lender or any L/C Issuer hereunder as to which such Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (A) the applicable Borrower has not in fact made such payment; (B) such Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (C) such Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to such Agent forthwith on demand the Rescindable Amount so distributed to such Lender or such L/C Issuer, 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 such Agent, at the greater of the Federal Funds Rate and a rate determined by such Agent in accordance with banking industry rules on interbank compensation. A notice of the applicable Agent to any Lender or any Borrower with respect to any amount owing under this Section 2.12(b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by Agents. Unless the Administrative Agent or the Canadian Agent, as applicable, shall have received notice from XxxxxRyder, a Canadian Borrower, or a PR Borrower, or a U.K. Borrower, as applicable, prior to the date on which any payment is due to such Agent for the account of the Lenders or the L/C Issuers hereunder that such Borrower will not make such payment, such 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 Lenders or the L/C Issuers, as the case may be, the amount due. With respect to any payment that any Agent makes for the account of any Lender or any L/C Issuer hereunder as to which such Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (A) the applicable Borrower has not in fact made such payment; (B) such Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (C) such Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to such Agent forthwith on demand the Rescindable Amount so distributed to such Lender or such L/C Issuer, 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 such Agent, at the greater of the Federal Funds Rate and a rate determined by such Agent in accordance with banking industry rules on interbank compensation. A notice of the applicable Agent to any Lender or any Borrower with respect to any amount owing under this Section 2.12(b) shall be conclusive, absent manifest error.