Common use of Payments to Participants Clause in Contracts

Payments to Participants. Administrative Agent-Servicer shall facilitate payments from the Borrower to each Participant. Administrative Agent-Servicer will promptly pay to the Participant an amount equal to the Participant's share of each amount received and applied by the Administrative Agent-Servicer in payment of principal of, or interest on, each Loan, such share to be (i) in the case of principal, the related Participation Percentage thereof, (ii) in the case of interest, the Participation Percentage of the interest on the unpaid principal amount of the Loan, computed at the related Participation Rate for the period for which such interest was paid (or, if the related Loan Participation has been outstanding for a shorter period, for such shorter period); provided that, if the amount of interest so received and applied is less than the interest on such unpaid principal amount computed at the stated Participation Rate therefor for the period for which such interest was paid, then the amount payable under this clause (ii) shall be reduced proportionately