Common use of Payments to Administrative Agent Clause in Contracts

Payments to Administrative Agent. All payments of principal or and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor for the account of the Lenders in immediately available funds as provided in the Notes and this Agreement. The Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possible, such Lender’s proportionate share of each such payment in immediately available funds, except as otherwise expressly provided herein. The Administrative Agent shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans Loan or the Notes Note shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor for the account of the Lenders in immediately available funds as provided in the Notes Note and this Loan Agreement. The Except as otherwise expressly provided herein, the Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblemade, such Lender’s proportionate share of each such payment in immediately available fundsfunds excluding Liquidation Proceeds which shall be distributed in accordance with Section 13.2.4 below. The Administrative Agent will disburse such payments to the Lenders on the date of receipt thereof if received prior to 1:00 p.m. on such date and, except as otherwise expressly provided hereinif not, on the next Business Day. The Administrative Agent shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans Loan or the Notes Note shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor for the account of the Lenders in immediately available funds as provided in the Notes Note and this Loan Agreement. The Except as otherwise expressly provided herein, the Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblemade, such Lender’s 's proportionate share of each such payment in immediately available fundsfunds excluding Liquidation Proceeds which shall be distributed in accordance with Section 13.2.4 below. The Administrative Agent will disburse such payments to the Lenders on the date of receipt thereof if received prior to 10:00 a.m. on such date and, except as otherwise expressly provided hereinif not, on the next Business Day. The Administrative Agent shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s 's proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor Guarantor for the account of the Lenders in immediately available funds as provided in the Warehousing Notes and this Agreement. The Administrative Agent agrees promptly to use commercially reasonable efforts to distribute promptly to each Lender, on the same Business Day upon which each such payment is made if possible, such Lender’s proportionate share Commitment Percentage of each such payment in immediately available funds, except as otherwise expressly provided hereinexcluding Liquidation Proceeds, which shall be distributed in accordance with Section 13.12(d) hereof. The Administrative Agent shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lenderit. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 13.12(d) shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s proportionate share Commitment Percentage of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor Guarantor for the account of the Lenders in immediately available funds as provided in the Warehousing Notes and this Agreement. The Administrative Agent agrees promptly to use commercially reasonable efforts to distribute promptly to each Lender, on the same Business Day upon which each such payment is made if possible, such Lender’s proportionate share Commitment Percentage of each such payment in immediately available funds, except as otherwise expressly provided herein. The Administrative Agent excluding Liquidation Proceeds, which shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts be distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lenderin accordance with Section 10.11(d). Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 subsection shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s proportionate share Commitment Percentage of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower or any other obligor or guarantor Indemnitor for the account of the Lenders in immediately available funds as provided in the Notes and this Agreement. The Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblereceived by 12:00 noon (eastern standard time), such Lender’s 's proportionate share of each such payment in immediately available funds, and if received after 12:00 noon (eastern standard time), then on the next Business Day, except as otherwise expressly provided herein. The Administrative Agent shall upon each distribution promptly notify Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 15.12.3 shall constitute a payment by the Borrower to each Lender in the amount of such Lender’s 's proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly. As long as no Event of Default exists, the Borrower shall only be obligated to respond to requests for payment from the Administrative Agent.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower Borrowers or any other obligor or guarantor for the account of the Lenders in immediately available funds as provided in the Notes and this Agreement. The Except as otherwise expressly provided in Section 12.4 or Section 14.2(d) or any other provision of this Agreement, the Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblemade, such Lender’s 's proportionate share of each such payment in immediately available funds, except as otherwise expressly provided herein. The Administrative Agent shall upon each distribution promptly notify Borrower the Borrowers of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 14.2(c) shall constitute a payment by the Borrower Borrowers to each Lender in the amount of such Lender’s 's proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower Borrowers to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the Borrower Borrowers is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes Note shall be made to the Administrative Agent by the subject Borrower or any other obligor or guarantor for the account of the Lenders in immediately available funds as provided in the Notes Note and this Loan Agreement. The Except as otherwise expressly provided herein, including, without limitation, as set forth under Section 2.3, the Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblemade, such Lender’s proportionate share of each such payment in immediately available funds, except as otherwise expressly provided hereinfunds excluding Liquidation Proceeds which shall be distributed in accordance with Section 13.2.4 below. The Administrative Agent shall upon each distribution promptly notify such Borrower of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 shall constitute a payment by the subject Borrower to each Lender in the amount of such Lender’s proportionate all cases in accordance with their proportional share of such paymentbased on their respective Commitment Percentages, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the such Borrower to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any payment received by the Administrative Agent from the a Borrower is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.

Payments to Administrative Agent. All payments of principal or of and interest on the Loans or the Notes shall be made to the Administrative Agent by the Borrower Borrowers or any other obligor or guarantor for the account of the applicable Lenders in immediately available funds as provided in the such Notes and this Agreement. The Except as otherwise expressly provided in Section 12.4 or Section 14.2(d) or any other provision of this Agreement, the Administrative Agent agrees promptly to distribute to each Lender, on the same Business Day upon which each such payment is made if possiblesuch payment is received by 12:00 p.m. and on the next Business Day if such payment is received after 12:00 p.m., such Lender’s 's proportionate share of each such payment in immediately available funds. If any such payment is not made by the Administrative Agent on the same Business Day as received, except as otherwise expressly provided hereinthe funds shall be invested by the Administrative Agent in overnight obligations, and interest thereon paid to the applicable Lender(s). The Administrative Agent shall upon each distribution promptly notify Borrower the Borrowers of such distribution and each Lender of the amounts distributed to it applicable to principal of, and interest on, the proportionate share held by the applicable Lender. Each payment to the Administrative Agent under the first sentence of this Section 11.12.3 14.2(c) shall constitute a payment by the Borrower Borrowers to each Lender in the amount of such Lender’s 's proportionate share of such payment, and any such payment to the Administrative Agent shall not be considered outstanding for any purpose after the date of such payment by the Borrower Borrowers to the Administrative Agent without regard to whether or when the Administrative Agent makes distribution thereof as provided above. If any -96- payment received by the Administrative Agent from the Borrower Borrowers is insufficient to pay both all accrued interest and all principal then due and owing, the Administrative Agent shall first apply such payment to all outstanding interest until paid in full and shall then apply the remainder of such payment to all principal then due and owing, and shall distribute the payment to each Lender accordingly.