Common use of Settlement Among Lenders Clause in Contracts

Settlement Among Lenders. (a) The Swingline Lender may, at any time (but, in any event shall weekly, as provided in Section 2.16(b)), on behalf of the Borrowers (which hereby authorize the Swingline Lender to act on their behalf in that regard) request the Administrative Agent to cause the Tranche A Lenders to make a Tranche A Loan (which shall be a Base Rate Loan) in an amount equal to such Lender’s Tranche A Commitment Percentage of the outstanding amount of Swingline Loans made in accordance with Section 2.05, which request may be made regardless of whether the conditions set forth in Article IV have been satisfied. Upon such request, each Tranche A Lender shall make available to the Administrative Agent the proceeds of such Tranche A Loan for the account of the Swingline Lender. If the Swingline Lender requires a Tranche A Loan to be made by the Tranche A Lenders and the request therefor is received prior to 12:00 noon on a Business Day, such transfers shall be made in immediately available funds no later than 3:00 p.m. that day; and, if the request therefor is received after 12:00 noon, then no later than 3:00 p.m. on the next Business Day. The obligation of each such Tranche A Lender to transfer such funds is irrevocable, unconditional and without recourse to or warranty by the Administrative Agent or the Swingline Lender. If and to the extent any Tranche A Lender shall not have so made its transfer to the Administrative Agent, such Tranche A Lender agrees to pay to the Administrative Agent, forthwith on demand, such amount, together with interest thereon, for each day from such date until the date such amount is paid to the Administrative Agent, at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

Settlement Among Lenders. (ai) The Swingline Unless the Agent shall have been notified in writing by any Lender may, at prior to any time (but, in any event shall weekly, as provided in Section 2.16(b)), on behalf of advance to the Borrowers (Company that such Lender will not make the amount which hereby authorize the Swingline Lender to act on their behalf in that regard) request the Administrative Agent to cause the Tranche A Lenders to make a Tranche A Loan (which shall be a Base Rate Loan) in an amount equal to such Lender’s Tranche A Commitment would constitute its Pro Rata Percentage of the outstanding amount of Swingline Loans made in accordance with Section 2.05borrowing on such date available to the Agent, which request the Agent may be made regardless of whether the conditions set forth in Article IV have been satisfied. Upon assume that such request, each Tranche A Lender shall make such amount available to the Agent on a Settlement Date, and in reliance upon such assumption, the Agent may make available to the Administrative Company a corresponding amount. A certificate of the Agent the proceeds submitted to any Lender with respect to any amount owing under this subsection shall be conclusive, absent manifest error. If such Lender's Pro Rata Percentage of such Tranche A Loan for borrowing is not in fact made available to the account of Agent by such Lender on the Swingline Lender. If Settlement Date, the Swingline Lender requires a Tranche A Loan to be made by the Tranche A Lenders and the request therefor is received prior to 12:00 noon on a Business Day, such transfers Agent shall be made in immediately available funds no later than 3:00 p.m. that day; and, if the request therefor is received after 12:00 noon, then no later than 3:00 p.m. entitled (A) to recover such Lender's Pro Rata Percentage of such borrowing on the next Business Day. The obligation of each demand from such Tranche A Lender to transfer such funds is irrevocable, unconditional and without recourse to or warranty by the Administrative Agent or the Swingline Lender. If and to the extent any Tranche A Lender shall not have so made its transfer to the Administrative Agent, such Tranche A Lender agrees to pay to the Administrative Agent, forthwith on demand, such amount, together with interest thereon, for each day from such date the Closing Date until the date such amount is paid to the Administrative Agent, at the greater customary rate set by Agent for the correction of errors among banks for three Business Days and thereafter at the Chase Bank Rate or (B) to recover such Lender's Pro Rata Percentage of such borrowing on demand from the Company, together with interest thereon (for the account of the Federal Funds Rate and Agent) at the rate per annum applicable to such borrowing, without prejudice to any rights which the Agent may have against such Lender under Section 11.3 hereof. Nothing contained herein shall be deemed to obligate the Agent to make available to the Company the full amount of a rate determined requested advance when the Agent has any notice (written or otherwise) that any of the Lenders will not advance its Pro Rata Percentage thereof. Nothing in this Section shall be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights the Company may have against any Lender as a result of any default by the Administrative Agent in accordance with banking industry rules on interbank compensationsuch Lender hereunder.