Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 7 contracts
Samples: Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective RateRate or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s 's Loan included in such Borrowing.
Appears in 5 contracts
Samples: Credit Agreement (Roberts Trading Corp), Credit Agreement (Canandaigua LTD), Credit Agreement (Hearst Argyle Television Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender the Borrower prior to the proposed date of on which any Borrowing that such Lender will not make available payment is due to the Administrative Agent for the account of the Lenders that the Borrower will not make such Lender’s share of such Borrowingpayment, the Administrative Agent may assume that such Lender the Borrower has made such share available payment on such date in accordance with paragraph (a) of this Section 2.06 herewith and may, in reliance upon such assumption, make available distribute to the Borrower a corresponding amountLenders the amount due. In such event, if a Lender the Borrower has not in fact made its share such payment, then each of the applicable Borrowing available Lenders severally agrees to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay repay to the Administrative Agent forthwith on demand the amount so distributed to such corresponding amount Lender with interest thereon, for each day from and including the date such amount is made available distributed to the Borrower it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate. If such Lender pays such amount to Rate and a rate determined by the Administrative Agent, then such amount shall constitute such Lender’s Loan included Agent in such Borrowingaccordance with banking industry rules on interbank compensation.
Appears in 4 contracts
Samples: Term Loan Agreement (Smithfield Foods Inc), Term Loan Agreement (Smithfield Foods Inc), Term Loan Agreement (Smithfield Foods Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender the Borrower prior to the proposed date of on which any Borrowing that such Lender will not make available payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such Lender’s share of such Borrowingpayment, the Administrative Agent may (but shall not be obligated to) assume that such Lender the Borrower has made such share available payment on such date in accordance with paragraph herewith and may (a) of this Section 2.06 and maybut shall not be obligated to), in reliance upon such assumption, make available distribute to the Borrower a corresponding amountLenders the amount due. In such event, if a Lender the Borrower has not in fact made its share such payment, then each of the applicable Borrowing available Lenders severally agrees to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay repay to the Administrative Agent forthwith on demand the amount so distributed to such corresponding amount Lender in immediately available funds with interest thereon, for each day from and including the date such amount is made available distributed to the Borrower it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate. If such Lender pays such amount to Rate and a rate determined by the Administrative Agent, then such amount shall constitute such Lender’s Loan included Agent in such Borrowingaccordance with banking industry rules on interbank compensation.
Appears in 2 contracts
Samples: Credit Agreement (Cemex Sab De Cv), Credit Agreement (Cemex Sab De Cv)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender the Borrower prior to the proposed date of on which any Borrowing that such Lender will not make available payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such Lender’s share of such Borrowingpayment, the Administrative Agent may (but shall not be obligated to) assume that such Lender the Borrower has made such share available payment on such date in accordance with paragraph herewith and may (a) of this Section 2.06 and maybut shall not be obligated to), in reliance upon such assumption, make available distribute to the Borrower a corresponding amountLenders the amount due. In such event, if a Lender the Borrower has not in fact made its share such payment, then each of the applicable Borrowing available Lenders severally agrees to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay repay to the Administrative Agent forthwith on demand the amount so distributed to such corresponding amount Lender in immediately available funds with interest thereon, for each day from and including the date such amount is made available distributed to the Borrower it to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective applicable Interest Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Cemex Sab De Cv), Credit Agreement (Cemex Sab De Cv)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumptionassumption and in its sole discretion, make available to the relevant Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the such Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the such Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective RateRate or (ii) in the case of such Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Foster Wheeler Ag), Security Agreement (Foster Wheeler LTD)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such LenderXxxxxx’s share of such Borrowing, the Administrative Agent may assume that such Lender Xxxxxx has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumptionassumption and in its sole discretion, make available to the relevant Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the relevant Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the relevant Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Lamar Media Corp/De), Credit Agreement (Lamar Media Corp/De)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrower Borrowers a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower Borrowers severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower Borrowers to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 2 contracts
Samples: Credit Agreement (Sprint Nextel Corp), Credit Agreement (Sprint Nextel Corp)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 1 contract
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumptionassumption and in its sole discretion, make available to the relevant Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the relevant Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such Credit Agreement amount is made available to the relevant Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s 's Loan included in such Borrowing.
Appears in 1 contract
Presumption by Administrative Agent. Unless the ----------------------------------- Administrative Agent shall have received notice from a Lender the Company prior to the proposed date of on which any Borrowing payment is due to the Lenders hereunder that such Lender a Borrower will not make available to the Administrative Agent such Lender’s share of such Borrowingpayment in full, the Administrative Agent may assume that such Lender each Borrower has made such share available payment in full to the Administrative Agent on such date in accordance with paragraph (a) of this Section 2.06 and the Administrative Agent may, in reliance upon such assumption, make available cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent a Borrower a corresponding amount. In shall not have so made such event, if a Lender has not payment in fact made its share of the applicable Borrowing available full to the Administrative Agent, then the applicable each Lender and the Borrower severally agree to pay shall repay to the Administrative Agent forthwith on demand such corresponding amount distributed to such Lender together with interest thereon, for each day from and including the date such amount is made available distributed to the Borrower to but excluding such Lender until the date of payment such Lender repays such amount to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Solutia Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s 's Loan included in such Borrowing.
Appears in 1 contract
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s 's Loan included in such Borrowing.. Credit Agreement
Appears in 1 contract
Samples: Guarantee and Security Agreement (Nextel Communications Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s Xxxxxx's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (ab) of this Section 2.06 and may, in reliance upon such assumptionassumption but without any obligation to do so, make available to the Borrower Borrowers a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender on the one hand and the Borrower applicable Borrowers on the other severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the any Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such Lender, for the first three Business Days the greater of the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.Rate and a rate determined by
Appears in 1 contract
Samples: Credit Agreement (Agco Corp /De)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective RateRate or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans of such Class. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing.
Appears in 1 contract
Samples: Year Credit Agreement (Hearst Argyle Television Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s 's share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph (a) of this Section 2.06 2.05 and may, in reliance upon such assumptionassumption and in its sole discretion, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s 's Loan included in such Borrowing.
Appears in 1 contract
Samples: Credit Agreement (Ohio Logos Inc)
Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender the Borrower prior to the proposed date of on which any Borrowing that such Lender will not make available payment is due to the Administrative Agent for the account of the Lenders or the Issuing Banks hereunder that the Borrower will not make such Lender’s share of such Borrowingpayment, the Administrative Agent may assume that such Lender the Borrower has made such share available payment on such date in accordance with paragraph (a) of this Section 2.06 herewith and may, in reliance upon such assumption, make available distribute to the Borrower a corresponding amountLenders or the relevant Issuing Bank, as the case may be, the amount due. In such event, if a Lender the Borrower has not in fact made its share such payment, then each of the applicable Borrowing available Lenders or the Issuing Banks, as the case may be, severally agrees to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay repay to the Administrative Agent forthwith on demand the amount so distributed to such corresponding amount Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is made available distributed to the Borrower it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate. If such Lender pays such amount to Rate and a rate determined by the Administrative Agent, then such amount shall constitute such Lender’s Loan included Agent in such Borrowingaccordance with banking industry rules on interbank compensation.
Appears in 1 contract