Special Provisions Governing Peso Loans Sample Clauses

Special Provisions Governing Peso Loans. (a) At any time (i) after the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent may (and, upon the request of any Mexican Lender, shall), or (ii) upon the replacement of any Peso Loan with a Revolving Dollar Loan pursuant to this Section 2.18, the Administrative Agent shall, demand that each Revolving Credit Lender pay in Dollars to the Administrative Agent, for the account of the Mexican Lenders, in the manner provided in clause (b) below, such Revolving Credit Lender’s Pro Rata Share of the Dollar Equivalent of the aggregate Peso Outstandings and related accrued but unpaid interest at such time, which demand shall be made through the Administrative Agent, shall be in writing and shall specify the outstanding principal amount and interest of the Peso Loans. (b) The Administrative Agent shall forward each demand referred to in clause (a) to each Revolving Credit Lender, on the day such demand is received by the Administrative Agent (except that any such demand received by the Administrative Agent after 1:00 p.m. (New York time) on any Business Day or any such demand that is received on a day that is not a Business Day shall not be required to be forwarded to the applicable Revolving Credit Lender by the Administrative Agent until the next succeeding Business Day), together with a statement prepared by the Administrative Agent specifying the amount of each applicable Revolving Credit Lender’s ratable portion of the aggregate Peso Outstandings and the Dollar Equivalent thereof demanded to be paid and, whether or not the conditions set forth in Section 2.1 (Revolving Credit Commitments) or 3.2 (Conditions Precedent to Each Loan and Letter of Credit) shall be satisfied (which conditions the Revolving Credit Lenders hereby irrevocably waive), each Revolving Credit Lender shall, before 11:00 a.m. (New York time) on the Business Day next succeeding the date of such Revolving Credit Lender’s receipt of such demand, make available to the Administrative Agent, in immediately available funds in Dollars for the account of each Mexican Lender, the amount specified in such Demand. Upon such payment by a Revolving Credit Lender, such Revolving Credit Lender shall, except as provided in clause (c) below, be deemed to have made a Revolving Dollar Loan to the applicable Borrower in the principal amount of such payment and bearing interest at the Base Rate. The Administrative Agent shall use such funds to repay the applicable ...
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Related to Special Provisions Governing Peso Loans

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