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

Payments by Borrower; Presumptions by applicable Agent. Unless the applicable Agent shall have received notice from the applicable Borrower prior to the date on which any payment is due to the applicable Agent for the account of the Lenders or the applicable L/C Issuer hereunder that such Borrower will not make such payment, the applicable 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 applicable L/C Issuer, as the case may be, the amount due. With respect to a payment that the Agents make for the account of the Lenders or any L/C Issuer hereunder as to which the Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (1) the applicable Borrower has not in fact made such payment; (2) the applicable Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (3) the applicable Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the applicable L/C Issuer, as the case may be, severally agrees to repay to the applicable 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 the applicable Agent, at the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with the banking industry rules on interbank compensation.. A notice of the applicable Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by applicable Agent. Unless the applicable Agent shall have received notice from the applicable Borrower prior to the date on which any payment is due to the applicable Agent for the account of the Lenders or the applicable L/C Issuer hereunder that such Borrower will not make such payment, the applicable 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 applicable L/C Issuer, as the case may be, the amount due. With respect to a payment that the Agents make for the account of the Lenders or any L/C Issuer hereunder as to which the Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (In such payment referred to as the “Rescindable Amount”): (1) event, if the applicable Borrower has not in fact made such payment; (2) the applicable Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (3) the applicable Agent has for any reason otherwise erroneously made such payment; , then each of the Lenders or the applicable L/C Issuer, as the case may be, severally agrees to repay to the applicable Agent forthwith on demand the Rescindable Amount amount so distributed to such Lender or such 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 the applicable Agent, at the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with the banking industry rules on interbank compensation.. Overnight Rate. A notice of the applicable Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by applicable Agent. Unless the applicable Applicable Agent shall have received notice from the applicable Borrower prior to the date on time at which any payment is due to the applicable Applicable Agent for the account of the Lenders or the applicable L/C Issuer hereunder that such the Borrower will not make such payment, the applicable Applicable 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 applicable L/C Issuer, as the case may be, the amount due. With respect to a payment that In such event, if the Agents make for the account of the Lenders or any L/C Issuer hereunder as to which the Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”): (1) the applicable Borrower has not in fact made such payment; (2) the applicable Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (3) the applicable Agent has for any reason otherwise erroneously made such payment; , then each of the Appropriate Lenders or the applicable L/C Issuer, as the case may be, severally agrees to repay to the applicable Applicable 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 the applicable Applicable Agent, at the greater of the Federal Funds Rate and a rate determined by the applicable Applicable Agent in accordance with the banking industry rules on interbank compensation.. . A notice of the applicable Applicable Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Payments by Borrower; Presumptions by applicable Agent. Unless the applicable Agent shall have received notice from the applicable Borrower prior to the date on which any payment is due to the applicable Agent for the account of the Lenders or the applicable L/C Issuer hereunder that such Borrower will not make such payment, the applicable 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 applicable L/C Issuer, as the case may be, the amount due. With respect to a payment that the Agents make for the account of the Lenders or any L/C Issuer hereunder as to which the Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (In such payment referred to as the “Rescindable Amount”): (1) event, if the applicable Borrower has not in fact made such payment; (2) the applicable Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (3) the applicable Agent has for any reason otherwise erroneously made such payment; , then each of the Lenders or the applicable L/C Issuer, as the case may be, severally agrees to repay to the applicable 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 the applicable Agent, at the greater of the Federal Funds Rate and a rate determined by the applicable Agent in accordance with the banking industry rules on interbank compensation.. Overnight Rate. A notice of the applicable Agent to any Lender or the applicable Borrower with respect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.