FAILURE OF BANK TO FUND Sample Clauses

FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Ratable Portion of any Revolving Credit Borrowing, such Bank and the Borrower severally agree to repay to the Agent, immediately upon demand by the Agent, an amount equal to such Bank's Ratable Portion of such Revolving Credit Borrowing, as the case may be, together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (a) in the case of the Bank, (i) Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and (ii) thereafter, at the Interest Rate then applicable to Alternate Base Rate Loans and (b) in the case of the Borrower, the interest rate applicable at the time to Alternate Base Rate Loans.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Pro Rata Share of any Revolving Credit Borrowing, such Bank and the Borrower severally agree to repay to the Agent, immediately upon demand by the Agent, an amount equal to such Bank's Pro Rata Share of such Revolving Credit Borrowing together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (A) in the case of the Bank, Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and thereafter at the Interest Rate then applicable to Prime Rate Loans and (B) in the case of the Borrower, the interest rate applicable at the time to Prime Rate Loans.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Administrative Agent such Bank's Ratable Portion of any Revolving Credit Borrowing (pursuant to either Section 2.3 of this Agreement or pursuant to Section 2.11(g) hereof in connection with Deemed Credit Requests for Revolving Credit Advances to pay unpaid reimbursement obligations for Letters of Credit hereunder) or any Term Advance pursuant to Section 2.6 hereof, or any Bank fails to make available to the Administrative Agent the amount of such Bank's participation purchase price payable for its participating interest in the unpaid reimbursement obligations with respect to Letters of Credit pursuant to Section 2.11(g) hereof, such Bank shall pay such amount to the Administrative Agent for application pursuant to this Section immediately upon demand by the Administrative Agent. To the extent that such Bank does not pay such amount to the Administrative Agent forthwith upon such demand by the Administrative Agent, the Administrative Agent shall promptly request payment thereof from the Borrower, and the Borrower shall immediately pay such amount that is actually advanced to the Administrative Agent for application pursuant to this Section. Such Bank and the Borrowers shall be severally liable to pay interest to the Administrative Agent on such amount for each day from the date such amount should otherwise have been made available to the Administrative Agent until the date such amount is paid to the Administrative Agent by such Bank of the Borrowers, at a per annum rate of interest equal to: (A) in the case of a Bank, Federal Funds Rate and (B) in the case of the Borrower, the interest rate applicable at the time to Alternate Base Rate Advances, or if such Advances are denominated in an Alternate Currency, at the interest rate applicable at the time to LIBOR Advances.
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FAILURE OF BANK TO FUND. If and to the extent that any Bank shall not have made available to the Agent such Bank's Ratable Portion of any Revolving Credit Borrowing advanced by the Agent on behalf of the Banks on the Closing Date or thereafter (whether advanced by KCCI on behalf of the Banks pursuant to Section 2.4(c), the Agent on behalf of the Banks pursuant to Section 2.4(d), or the Banks otherwise pursuant to this Agreement), such Bank agrees to pay, and the Borrower agrees to repay to the Agent, severally and not jointly and severally, immediately upon demand by the Agent, an amount equal to such Bank's Ratable Portion of such Revolving Credit Borrowing, together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Agent, at: (A) in the case of the Bank, Federal Funds Rate for the first three (3) days from and after the date of the Revolving Credit Borrowing and thereafter at the Interest Rate then applicable to Alternate Base Rate Advances of such Borrowings and (B) in the case of the Borrower, the interest rate applicable at the time to such Borrowings.
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Related to FAILURE OF BANK TO FUND

  • Replacement of Banks In the event that (a) any Bank makes a demand for payment under Section 2.07(b) or Section 2.12, (b) the Borrower is required to make any payment in respect of Taxes or Other Taxes pursuant to Section 2.15 or (c) any Bank becomes a Defaulting Bank, the Borrower may within ninety (90) days of the applicable event, if no Default then exists, replace such Bank with another commercial bank, financial institution or other Person in accordance with all of the provisions of Section 10.06(a) (including execution of an appropriate Assignment), provided that (i) all obligations of such Bank to lend hereunder shall be terminated and the Advances payable to such Bank and all other obligations owed to such Bank hereunder shall be purchased in full without recourse at par plus accrued interest at or prior to such replacement, (ii) such replacement shall be reasonably satisfactory to the Administrative Agent, (iii) if such replacement bank is not already a Bank hereunder, the Borrower (and, for avoidance of doubt, not the replacement bank) shall pay to the Administrative Agent an assignment fee of $3,500 in connection with such replacement, (iv) such replacement shall, from and after such replacement, be deemed for all purposes to be a “Bank” hereunder with a Commitment in the amount of the respective Commitment of the assigning Bank immediately prior to such replacement (plus, if such replacement bank is already a Bank prior to such replacement, the respective Commitment of such Bank prior to such replacement), as such amount may be changed from time to time pursuant hereto, and shall have all of the rights, duties and obligations hereunder of the Bank being replaced, and (v) such other actions shall be taken by the Borrower, such Bank and such replacement bank as may be appropriate to effect the replacement of such Bank with such replacement bank on terms such that such replacement bank has the same rights, duties and obligations hereunder as such Bank (including, without limitation, execution and delivery of new Notes to such replacement bank if such replacement bank shall so request, redelivery to the Borrower in due course of any Notes payable to such Bank and specification of the information contemplated by Schedule I as to such replacement bank).

  • Equalization of Banks The Banks and the holders of any --------------------- participations in any Notes agree among themselves that, with respect to all amounts received by any Bank or any such holder for application on any obligation hereunder or under any Note or under any such participation, whether received by voluntary payment, by realization upon security, by the exercise of the right of set-off or banker's lien, by counterclaim or by any other non-pro rata source, equitable adjustment will be made in the manner stated in the following sentence so that, in effect, all such excess amounts shall be shared ratably among the Banks and such holders in proportion to their interests in payments under the Notes, except as otherwise provided in Sections [4.04(b), 5.04(b) or 5.06(a)] hereof. The Banks or any such holder receiving any such amount shall purchase for cash from each of the other Banks an interest in such Bank's Loans in such amount as shall result in a ratable participation by the Banks and each such holder in the aggregate unpaid amount under the Notes, provided that if all or any portion of such excess amount is thereafter recovered from the Bank or the holder making such purchase, such purchase shall be rescinded and the purchase price restored to the extent of such recovery, together with interest or other amounts, if any, required by law (including court order) to be paid by the Bank or the holder making such purchase.

  • Notice of Termination Events or Unmatured Termination Events A statement of the chief financial officer or chief accounting officer of the Seller setting forth details of any Termination Event or Unmatured Termination Event and the action which the Seller proposes to take with respect thereto.

  • Substitution of Banks 13 3.8. Survival.............................................................14

  • Replacement of Bank If (x) the Applicant is required pursuant to Section 9.1(a) or 9.1(b) to make any additional payment to any Bank or if any Bank’s obligation to continue, or to convert Liquidity Advances into, Eurodollar Advances shall be suspended pursuant to Section 2.15 (any Bank so affected an “Affected Bank”) or (y) any Bank becomes a Defaulting Bank, the Applicant may elect to replace the Commitment and participations in the Letter of Credit of such Affected Bank or Defaulting Bank, as applicable, provided that no Event of Default shall have occurred and be continuing at the time of such replacement, and provided further that, concurrently with such replacement, (i) another bank or other entity which is reasonably satisfactory to the Applicant and the Administrative Agent shall agree, as of such date, to purchase for cash (to the extent of the principal amount of such Affected Bank’s or Defaulting Bank’s, as applicable, Liquidity Advances and accrued interest and fees and other reimbursable amounts then due and payable) and otherwise assume the Commitment and participation in the Letter of Credit of, and other Obligations then due to, such Affected Bank or Defaulting Bank, as applicable, pursuant to an Assignment and Assumption and to become a Bank for all purposes under this Agreement and to assume all obligations of such Affected Bank or Defaulting Bank, as applicable, to be replaced as of such date and to comply with the requirements of Section 9.7 applicable to assignments, (ii) the Applicant shall pay to such Affected Bank or Defaulting Bank, as applicable, in same day funds on the day of such replacement (A) all interest, fees and other amounts then accrued but unpaid to such Affected Bank or Defaulting Bank, as applicable, by the Applicant hereunder to and including the date of replacement, including without limitation payments due to such Affected Bank or Defaulting Bank, as applicable, under Sections 9.1(a) and 9.1(b), and (B) an amount, if any, equal to the payment which would have been due to such Bank on the day of such replacement under Section 9.1(c) had the Eurodollar Advances of such Affected Bank or Defaulting Bank, as applicable, been prepaid on such date rather than sold to the replacement Bank, in each case to the extent not paid by the purchasing Bank, and (iii) concurrently with the effectiveness of such replacement, such Affected Bank or Defaulting Bank, as applicable, shall be released with respect to its Commitment, such Commitment shall be terminated, and Liquidity Advances assigned by such Affected Bank or Defaulting Bank, as applicable, and shall cease to be a Bank hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement which survive payment of the Obligations and termination of the Agreement.

  • Continuation of Banking Business For the period commencing the first banking Business Day after Bank Closing and ending no earlier than the first anniversary of Bank Closing, the Assuming Institution will provide full service banking in the trade area of the Failed Bank. Thereafter, the Assuming Institution may cease providing such banking services in the trade area of the Failed Bank, provided the Assuming Institution has received all necessary regulatory approvals. At the option of the Assuming Institution, such banking services may be provided at any or all of the Bank Premises, or at other premises within such trade area. The trade area shall be determined by the Receiver. For the avoidance of doubt, the foregoing shall not restrict the Assuming Institution from opening, closing or selling branches upon receipt of the necessary regulatory approvals, if the Assuming Institution or its successors continue to provide banking services in the trade area. Assuming Institution will pay to the Receiver, upon the sale of a branch or branches within the year following the date of this agreement, fifty percent (50%) of any franchise premium in excess of the franchise premium paid by the Assuming Institution with respect to such branch or branches.

  • Effect of Death, Resignation, etc. of a Trustee The death, resignation, retirement, removal, incapacity, or inability of the Trustees, or any one of them, shall not operate to terminate the Trust or any Series or to revoke any existing trust or agency created pursuant to the terms of this Trust Instrument.

  • Effect of Bankruptcy, Death, Incompetence or Termination of a Limited Partner The occurrence of an Event of Bankruptcy as to a Limited Partner, the death of a Limited Partner or a final adjudication that a Limited Partner is incompetent (which term shall include, but not be limited to, insanity) shall not cause the termination or dissolution of the Partnership, and the business of the Partnership shall continue if an order for relief in a bankruptcy proceeding is entered against a Limited Partner, the trustee or receiver of his estate or, if he dies, his executor, administrator or trustee, or, if he is finally adjudicated incompetent, his committee, guardian or conservator, shall have the rights of such Limited Partner for the purpose of settling or managing his estate property and such power as the bankrupt, deceased or incompetent Limited Partner possessed to assign all or any part of his Partnership Interest and to join with the assignee in satisfying conditions precedent to the admission of the assignee as a Substitute Limited Partner.

  • Location of Bank Accounts Schedule 6.01(v) sets forth a complete and accurate list as of the Effective Date of all deposit, checking and other bank accounts, all securities and other accounts maintained with any broker dealer and all other similar accounts maintained by each Loan Party, together with a description thereof (i.e., the bank or broker dealer at which such deposit or other account is maintained and the account number and the purpose thereof).

  • Termination of Fund At any time following the first anniversary of the Closing Date, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) that had been made available to the Paying Agent and which have not been disbursed to holders of Certificates, and thereafter such holders shall be entitled to look only to Parent and the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) as general creditors thereof with respect to the payment of any Merger Consideration that may be payable upon surrender of any Certificates held by such holders, as determined pursuant to this Agreement, without any interest thereon. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority shall become, to the extent permitted by applicable Law, the property of Parent, free and clear of all claims or interest of any Person previously entitled thereto.

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