Advances by Agent. The Agent may, unless notified to the contrary by any Bank prior to a Drawdown Date, assume that such Bank has made available to the Agent on such Drawdown Date the amount of such Bank's Commitment Percentage of the Revolving Credit Loans to be made on such Drawdown Date, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If any Bank makes available to the Agent such amount on a date after such Drawdown Date, such Bank shall pay to the Agent on demand an amount equal to the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid by the Agent for federal funds acquired by the Agent during each day included in such period, times (b) the amount of such Bank's Commitment Percentage of such Revolving Credit Loans, times (c) a fraction, the numerator of which is the number of days that elapse from and including such Drawdown Date to the date on which the amount of such Bank's Commitment Percentage of such Revolving Credit Loans shall become immediately available to the Agent, and the denominator of which is 365. A statement of the Agent submitted to such Bank with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Agent by such Bank. If the amount of such Bank's Commitment Percentage of such Revolving Credit Loans is not made available to the Agent by such Bank within three (3) Business Days following such Drawdown Date, the Agent shall be entitled to recover such amount from the Borrower on demand, with interest thereon at the rate per annum applicable to the Revolving Credit Loans made on such Drawdown Date.
Advances by Agent. Unless the Agent shall have been notified by any Lender prior to the specified date of borrowing that such Lender does not intend to make available to the Agent the Loan to be made by such Lender on such date, the Agent may assume that such Lender will make the proceeds of such Loan available to the Agent on the date of the requested borrowing and the Agent may (but shall not be obligated to), in reliance upon such assumption, make available to the Borrower the amount of such Loan to be provided by such Lender and such Lender shall be liable to Agent for the amount of such advance. If such Lender does not pay such corresponding amount upon the Agent’s demand therefor, the Agent will promptly notify the Borrower, and the Borrower shall promptly pay such corresponding amount to the Agent. The Agent shall also be entitled to recover from the Lender or the Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date such corresponding amount was made available by the Agent to the Borrower to the date such corresponding amount is recovered by the Agent at a per annum rate equal to (i) from the Borrower at the applicable rate for such Loan or (ii) from a Lender at the Federal Funds Effective Rate. Subject to the terms of this Agreement (including, without limitation, Section 12.15), the Borrower does not waive any claim that it may have against a Defaulting Lender.
Advances by Agent. The Agent may, unless notified to the contrary by any Bank prior to a Drawdown Date, assume that such Bank has made available to the Agent on such Drawdown Date the amount of such Bank's Commitment Percentage of the Revolving Credit Loans to be made on such Drawdown Date, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If any Bank makes available to the Agent such amount on a date after such Drawdown Date, such Bank shall pay to the Agent on demand an amount equal to the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid by the Agent for federal funds acquired by the Agent during each day included in such period, TIMES (b) the amount of such Bank's Commitment Percentage of such Revolving Credit Loans, TIMES (c) a fraction, the numerator of which is the number of days that elapse from and including such Drawdown Date to the date on which the amount of such Bank's Commitment Percentage of such Revolving Credit Loans shall become immediately available to the Agent, and the denominator of which is 365. A statement of the Agent
Advances by Agent. On failure of the Borrower to perform any of the ----------------- covenants and agreements herein contained, the Agent may, at its option, perform the same and in so doing may expend such sums as the Agent may reasonably deem advisable in the performance thereof, including without limitation the payment of any insurance premiums, the payment of any taxes, liens and encumbrances, expenditures made in defending against any adverse claim and all other expenditures which the Agent may be compelled to make by operation of law or which the Agent may make by agreement or otherwise for the protection of the security hereof. All such sums and amounts so expended shall be repayable by the Borrower immediately without notice or demand, shall constitute so much additional Secured Obligations and shall bear interest from the date said amounts are expended at the rate per annum provided in Section 2.04 of the Loan Agreement (such rate per annum as so determined being hereinafter referred to as the "Default Rate"). No such performance of any covenant or agreement by the ------------ Agent on behalf of the Borrower, and no such advance or expenditure therefor, shall relieve the Borrower of any default under the terms of this Agreement. The Agent, in making any payment hereby authorized may do so according to any xxxx, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien or title or claim. The Agent, in performing any act hereunder, shall be the judge in its reasonable discretion of whether the Borrower is required to perform the same under the terms of this Agreement. The Agent is authorized to charge any depository account of the Borrower maintained with the Agent, for the amount of such sums and amounts so expended by such party. The Agent will provide notice and an opportunity to cure to the Borrower prior to exercise of rights under this subparagraph (g), but only where such notice and opportunity would not adversely affect the Collateral or the Agent's rights therein.
Advances by Agent. The Agent may, unless notified to the contrary by any Bank prior to an Advance, reasonably assume that such Bank has made available to the Agent on such day the amount of such Bank's Pro Rata Share of the Revolving Loan to be made on such day, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If any Bank makes available to the Agent such amount on a date after such day of Advance, such Bank shall pay to the Agent on demand an amount equal to the product of (a) the Federal Funds Rate each day included in such period, times (b) the amount of such Bank's Pro Rata Share of such Revolving Loan, times (c) a fraction, the numerator of which is the number of days that elapse from and including such day of Advance to the date on which the amount of such Bank's Pro Rata Share of such Revolving Loan shall become immediately available to the Agent, and the denominator of which is 360. A statement of the Agent submitted to such Bank with respect to any amounts owing under this paragraph shall be prima facie evidence of the amount due and owing to the Agent by such Bank. If the amount of such Bank's Pro Rata Share of such Revolving Loan is not made within three (3) Business Days following such Advance, the Agent shall be entitled to recover such amount from the Borrower on demand, with interest thereon at the rate per annum applicable to such Revolving Loan.
Advances by Agent. The Agent, at its discretion, may elect to advance funds into the Client Trust Account to pay expenses incurred on behalf of the Owner, provided such expenses are within the scope of this Agreement. The Owner shall reimburse any such advances made by the Agent, within five (5) days of written or verbal notification by the Agent. If an advance by the Agent is not reimbursed within thirty (30) days after Agent’s request, the advance shall bear interest at the rate of eighteen percent (18%) per annum from the date of the advance until the advance, principal and interest, is paid in full. In addition, a service fee of $50.00 per month will be charged to the Owner’s account until the advance and interest are paid in full.
Advances by Agent. Under this Agreement any payments to be made by the Agent shall be made from such sums as are available in the account of Owner. Agent shall not be obligated to make any advance nor incur any liability for the account of the Owner; and Agent shall not be liable for loss sustained by the Owner by reason of nonpayment or late payments of any expenses. In the event the disbursements and charges shall be in excess of the rents collected by the Agent, the Owner hereby agrees to pay such excess promptly upon demand by Agent.
Advances by Agent. . . . -27- Section 2.9 Settlements; Failure to Make Funds Available. . . . . . . . . . . . . . . . -27- Section 2.10 Change in the Borrowing Bases. . . . . . -28- Section 2.11 Modification of Borrowing Base A . . . . -28-
Advances by Agent. The Agent may, unless notified to the contrary by any Lender prior to a Drawdown Date, assume that such Lender has made available to the Agent on such Drawdown Date the amount of such Lender's Commitment Percentage, as applicable, of the Domestic Revolver Loans to be made on such Drawdown Date, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the applicable Borrower(s) a corresponding amount. If any Lender makes available to the Agent such amount on a date after such Drawdown Date, such Lender shall pay to the Agent on demand an amount equal to the product of (a) the average computed for the period referred to in clause (c) below, of the weighted average interest rate paid by the Agent for federal funds acquired by the Agent during each day included in such period, times (b) the amount of such Lender's Commitment Percentage, of such Domestic Revolver Loans, times
Advances by Agent. The Agent may, unless notified to the contrary by any Lender prior to a Drawdown Date, assume that such Lender has made available to the Agent on such Drawdown Date the amount of such Lender's Commitment Percentage of the Syndicated Loans (or, in the case of Competitive Bid Loans, the amount of such Lender's accepted offers of Competitive Bid Loans, if any) to be made on such Drawdown Date, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrower a
