Common use of Pro Rata Distribution of Payments Clause in Contracts

Pro Rata Distribution of Payments. All payments and prepayments of the Senior Credit Notes, including (subject to Sections 4.2(d) and 6.3(a)) the Swing Line Note, (whether voluntary or involuntary and from whatever source) received by the Agent shall be distributed by the Agent to the Lenders Pro Rata with their respective ownership interests in the Loan as of the date the payment is credited against the Senior Credit Notes in accordance with this Agreement. The distribution from the Agent to each Lender shall be made by the Agent’s initiating a federal funds wire transfer by 3:00 PM on the Business Day when such funds were received, in immediately available funds directly to the Lender or to such account at another financial institution as is designated from time to time by the Lender in writing, and shall be made on the same Business Day received (or deemed received) by the Agent. If the Agent shall fail or refuse to so make the distribution on the same Business Day as the payment was received, then, as agreed full and adequate compensation therefor, the Agent shall pay the affected Lender(s) interest on the undistributed funds at the Federal Funds Effective Rate.

Pro Rata Distribution of Payments. All payments and prepayments of the Senior Credit Notes, including (subject to Sections 4.2(d3.2(d) and 6.3(a5.3(a)) the Swing Line Note, (whether voluntary or involuntary and from whatever source) received by the Agent shall be distributed by the Agent to the Lenders Pro Rata with their respective ownership interests in the Loan as of the date the payment is credited against the Senior Credit Notes in accordance with this Agreement. The distribution from the Agent to each Lender shall be made by the Agent’s initiating a federal funds wire transfer by 3:00 PM on the Business Day when such funds were received, in immediately available funds directly to the Lender or to such account at another financial institution as is designated from time to time by the Lender in writing, and shall be made on the same Business Day received (or deemed received) by the Agent. If the Agent shall fail or refuse to so make the distribution on the same Business Day as the payment was received, then, as agreed full and adequate compensation therefor, the Agent shall pay the affected Lender(s) interest on the undistributed funds at the Federal Funds Effective Rate.

Pro Rata Distribution of Payments. All payments and prepayments of the Senior Credit Notes, including (subject to Sections 4.2(dSECTIONS 3.2(d) and 6.3(a5.3(a)) the Swing Line Note, (whether voluntary or involuntary and from whatever source) received by the Agent shall be distributed by the Agent to the Lenders Pro Rata with their respective ownership interests in the Loan as of the date the payment is credited against the Senior Credit Notes in accordance with this Agreement. The distribution from the Agent to each Lender shall be made by the Agent’s 's initiating a federal funds wire transfer by 3:00 PM on the Business Day when such funds were received, in immediately available funds directly to the Lender or to such account at another financial institution as is designated from time to time by the Lender in writing, and shall be made on the same Business Day received (or deemed received) by the Agent. If the Agent shall fail or refuse to so make the distribution on the same Business Day as the payment was received, then, as agreed full and adequate compensation therefor, the Agent shall pay the affected Lender(s) interest on the undistributed funds at the Federal Funds Effective Rate.

Pro Rata Distribution of Payments. All payments and prepayments of the Senior Credit Notes, including (subject to Sections 4.2(d3.2(d) and 6.3(a5.3(a)) the Swing Line Note, (whether voluntary or involuntary and from whatever source) received by the Agent shall be distributed by the Agent to the Lenders Pro Rata with their respective ownership interests in the Loan as of the date the payment is credited against the Senior Credit Notes in accordance with this Agreement. The distribution from the Agent to each Lender shall be made by the Agent’s initiating a federal funds wire transfer by 3:00 PM on the Business Day when such funds were received, in immediately available funds directly to the Lender or to such account at another financial institution as is designated from time to time by the Lender in writing, and shall be made on the same Business Day received (( or deemed received) by the Agent. If the Agent shall fail or refuse to so make the distribution on the same Business Day as the payment was received, then, as agreed full and adequate compensation therefor, the Agent shall pay the affected Lender(s) interest on the undistributed funds at the Federal Funds Effective Rate.