Common use of Advancing Payments Clause in Contracts

Advancing Payments. Unless the Administrative Agent shall have received notice from the Borrower to the Lenders or the Issuing Banks prior to the date on which any payment is due hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender or Issuing Bank on such due date an amount equal to the amount then due such Lender or Issuing Bank. If and to the extent that the Borrower shall not have made such payment in full to the Administrative Agent, each applicable Lender and Issuing Bank shall severally repay to the Administrative Agent on demand such amount distributed to such Lender or Issuing Bank together with interest thereon (at the Federal Funds Rate for the first Business Day and thereafter, at the rate applicable to Base Rate Loans) for each day from the date such amount is distributed to such Lender or Issuing until the date such Lender or Issuing Bank repays such amount to the Administrative Agent.

Advancing Payments. Unless the Applicable Administrative Agent shall have received notice from the Borrower to the Lenders or the Issuing Banks prior to the date on which any payment is due to the Applicable Administrative Agent hereunder that the Borrower will not make such payment in full, the Applicable Administrative Agent may assume that the Borrower has made such payment in full to the Applicable Administrative Agent on such date and the Applicable Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender or Issuing Bank on such due date an amount equal to the amount then due such Lender or Issuing BankLender. If and to the extent that the Borrower shall not have made such payment in full to the Applicable Administrative Agent, each applicable Lender and Issuing Bank shall severally repay to the Applicable Administrative Agent on demand such amount distributed to such Lender or Issuing Bank together with interest thereon (at the Federal Funds Rate for the first Business Day and thereafter, at the rate applicable to Base Rate LoansLoans under the applicable Facility) for each day from the date such amount is distributed to such Lender or Issuing until the date such Lender or Issuing Bank repays such amount to the Applicable Administrative Agent.

Advancing Payments. Unless the Administrative Agent shall have received notice from the Borrower to the Lenders or the Issuing Banks prior to the date on which any payment is due hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender or Issuing Bank on such due date an amount equal to the amount then due such Lender or Issuing Bank. If and to the extent that the Borrower shall not have made such payment in full to the Administrative Agent, each applicable Lender and Issuing Bank shall severally repay to the Administrative Agent on demand such amount distributed to such Lender or Issuing Bank together with interest thereon (at the Federal Funds Rate for the first Business Day and thereafter, at the rate applicable to Base Rate Loans) for each day from the date such amount is distributed to CONFIDENTIAL TREATMENT REQUESTED BY CINEDIGM CORP. OF CERTAIN PORTIONS OF THIS AGREEMENT IN ACCORDANCE WITH RULE 24B-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934. such Lender or Issuing until the date such Lender or Issuing Bank repays such amount to the Administrative Agent.