UNANTICIPATED DEFAULT. (a) (ASSUMPTION AS TO PAYMENT) The Agent may assume that a party (the PAYER) due to make a payment for the account of another party (the RECIPIENT) makes that payment when due unless the Payer notifies the Agent at least one Business Day before the due date that the Payer will not be making the payment.
Appears in 2 contracts
Samples: Syndicated Credit Agreement (Thermadyne Holdings Corp /De), MGM Grand Inc
UNANTICIPATED DEFAULT. (a) (ASSUMPTION AS TO PAYMENT) The Agent may assume that a party (the PAYER) due to make a payment for the account of another party (the RECIPIENT) makes that payment when due unless the Payer notifies the Agent at least one 1 Business Day before the due date that the Payer will not be making the payment.
Appears in 1 contract
UNANTICIPATED DEFAULT. (a) (ASSUMPTION AS TO PAYMENTAssumption as to payment) The Agent may assume that a party (the PAYERPayer) due to make a payment for the account of another party (the RECIPIENTRecipient) makes that payment when due unless the Payer notifies the Agent at least one Business Day before the due date that the Payer will not be making the payment.
Appears in 1 contract
Samples: Consol Energy Inc
UNANTICIPATED DEFAULT. 11.5 (a) (ASSUMPTION AS TO PAYMENT) The Agent may assume that a party (the "PAYER") due to make a payment for the account of another party (the "RECIPIENT") makes that payment when due unless the Payer notifies the Agent at least one Business Day before the due date that the Payer will not be making the payment.
Appears in 1 contract
Samples: Senior Debt Facility Agreement (American Banknote Corp)
