Common use of Distributions by Agent Clause in Contracts

Distributions by Agent. Unless the Agent shall have been notified by a Bank or the Borrower prior to the date on which such Bank or the Borrower is scheduled to make payment to the Agent of (in the case of a Bank) the proceeds of an Advance to be made by it hereunder or (in the case of the Borrower) a payment to the Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the Borrower (as the case may be) being herein called a "Required Payment"), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Agent, the Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank or the Borrower (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the Borrower.

Distributions by Agent. Unless the Agent shall have been notified by a Bank or the Borrower prior to the date on which such Bank or the Borrower is are scheduled to make payment to the Agent of (in the case of a Bank) the proceeds of an Advance to be made by it hereunder or (in the case of the Borrower) a payment to the Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the Borrower (as the case may be) being herein called a "Required Payment"), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Agent, the Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank or the Borrower (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the Borrower.

Distributions by Agent. Unless the Agent shall have been notified by a Bank or the Borrower prior to the date on which such Bank or the Borrower is are scheduled to make payment to the Agent of (in the case of a Bank) the proceeds of an Advance a Loan to be made by it hereunder or (in the case of the Borrower) a payment to the Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the Borrower (as the case may be) being herein called a "“Required Payment"”), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Agent, the Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank or the Borrower (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the Borrower.

Distributions by Agent. Unless the Agent shall have been notified by a Bank or the Borrower Borrowers prior to the date on which such Bank or the Borrower is Borrowers are scheduled to make payment to the Agent of (in the case of a Bank) the proceeds of an Advance a Loan to be made by it hereunder or (in the case of the BorrowerBorrowers) a payment to the Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the Borrower Borrowers (as the case may be) being herein called a "“Required Payment"”), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Agent, the Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank or the Borrower Borrowers (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the BorrowerBorrowers.

Distributions by Agent. Unless the Administrative Agent shall have been notified by a Bank Lender or the a Borrower prior to the date on which such Bank Lender or the Borrower is are scheduled to make payment to the Administrative Agent of (in the case of a BankLender) the proceeds of an Advance a Revolving Loan to be made by it hereunder or (in the case of the a Borrower) a payment to the Administrative Agent for the account of one or more of the Banks Lenders hereunder (such payment by a Bank Lender or the Borrower (as the case may be) being herein called a "“Required Payment"”), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank Lender or the Borrower (as the case may be) has not in fact made the Required Payment to the Administrative Agent, the recipient(s) of such payment shall, on demand, repay to the Administrative Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a BankLender, or (ii) equal to the applicable rate of interest as provided in this AgreementAgreement for the Loans (calculated daily and not in respect of any Interest Period), in the case of a Required Payment owing by the a Borrower.

Distributions by Agent. Unless the Administrative Agent shall have been notified by a Bank Lender or the a Borrower prior to the date on which such Bank Lender or the Borrower is are scheduled to make payment to the Administrative Agent of (in the case of a BankLender) the proceeds of an Advance a Term Loan to be made by it hereunder or (in the case of the a Borrower) a payment to the Administrative Agent for the account of one or more of the Banks Lenders hereunder (such payment by a Bank Lender or the Borrower (as the case may be) being herein called a "“Required Payment"”), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank Lender or the Borrower (as the case may be) has not in fact made the Required Payment to the Administrative Agent, the recipient(s) of such payment shall, on demand, repay to the Administrative Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a BankLender, or (ii) equal to the applicable rate of interest as provided in this AgreementAgreement for the Term Loans (calculated daily and not in respect of any Interest Period), in the case of a Required Payment owing by the a Borrower.

Distributions by Agent. Unless the an Agent shall have been notified by a Bank or the a Borrower prior to the date on which such Bank or the such Borrower is scheduled to make payment to the such Agent of (in the case of a Bank) the proceeds of an Advance or an Acceptance to be made by it hereunder or (in the case of the a Borrower) a payment to the such Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the a Borrower (as the case may be) being herein called a "Required Payment"), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the such Agent, the such Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank or the such Borrower (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate or Canadian Bank Rate (as the case may be) for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the a Borrower.

Distributions by Agent. Unless the Agent shall have been notified by a Bank or the Borrower Borrowers prior to the date on which such Bank or the Borrower is Borrowers are scheduled to make payment to the Agent of (in the case of a Bank) the proceeds of an Advance to be made by it hereunder or (in the case of the BorrowerBorrowers) a payment to the Agent for the account of one or more of the Banks hereunder (such payment by a Bank or the Borrower Borrowers (as the case may be) being herein called a "Required Payment"), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Agent, the Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the the-intended recipient(s) on such date and, if such Bank or the Borrower Borrowers (as the case may be) has not in fact made the Required Payment to the Agent, the recipient(s) of such payment shall, on demand, repay to the Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a Bank, or (ii) equal to the applicable rate of interest as provided in this Agreement, in the case of a Required Payment owing by the BorrowerBorrowers.

Distributions by Agent. Unless the Administrative Agent shall have been notified by a Bank Lender or the a Borrower prior to the date on which such Bank Lender or the Borrower is are scheduled to make payment to the Administrative Agent of (in the case of a BankLender) the proceeds of an Advance a Loan to be made by it hereunder or (in the case of the a Borrower) a payment to the Administrative Agent for the account of one or more of the Banks Lenders hereunder (such payment by a Bank Lender or the Borrower (as the case may be) being herein called a "“Required Payment"”), which notice shall be effective upon receipt, that it does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient(s) on such date and, if such Bank Lender or the Borrower (as the case may be) has not in fact made the Required Payment to the Administrative Agent, the recipient(s) of such payment shall, on demand, repay to the Administrative Agent the amount so made available together with interest thereon for each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate (i) equal to the Federal Funds Rate for such day, in the case of a Required Payment owing by a BankLender, or (ii) equal to the applicable rate of interest as provided in this AgreementAgreement for the Loans (calculated daily and not in respect of any Interest Period), in the case of a Required Payment owing by the a Borrower.