Common use of From Administrative Agent Clause in Contracts

From Administrative Agent. On any Business Day that the Administrative Agent receives a payment from a Borrower by the time required by Section 6.7 hereof, the Administrative Agent shall be required to pay to each Bank for whose account such payment is received its share of such amount before the close of business on such day. If the Administrative Agent receives any such payment after the time required by Section 6.7 hereof, the Administrative Agent shall only be required to remit such payment to the Bank or Banks for whose account such payment was received on the following Business Day. If the Administrative Agent fails to remit a payment to a Bank on the Business Day required in this Section 15.8(b), the Administrative Agent shall pay to such Bank interest on the U.S. Dollar Equivalent of the amount it was required to remit (as determined as of the day the Administrative Agent was required to make such remittance) at the Federal Funds Rate for each day that such amount is not so remitted.

From Administrative Agent. On any Business Day that the Administrative Agent receives a payment from a Borrower by the time required by Section 6.7 6.6 hereof, the Administrative Agent shall be required to pay to each Bank for whose account such payment is received its share of such amount before the close of business on such day. If the Administrative Agent receives any such payment after the time required by Section 6.7 6.6 hereof, the Administrative Agent shall only be required to remit such payment to the Bank or Banks for whose account such payment was received on the following Business Day. If the Administrative Agent fails to remit a payment to a Bank on the Business Day required in this Section 15.8(b), the Administrative Agent shall pay to such Bank interest on the U.S. Dollar Equivalent of the amount it was required to remit (as determined as of the day the Administrative Agent was required to make such remittance) at the Federal Funds Rate for each day that such amount is not so remitted.

From Administrative Agent. On any Business Day that the Administrative Agent receives a payment from a Borrower by the time required by Section 6.7 7.1 hereof, the Administrative Agent shall be required to pay to each Bank for whose account such payment is received its share of such amount before the close of business on such day. If the Administrative Agent receives any such payment after the time required by Section 6.7 7.1 hereof, the Administrative Agent shall only be required to remit such payment to the Bank or Banks for whose account such payment was received on the following Business Day. If the Administrative Agent fails to remit a payment to a Bank on the Business Day required in this Section 15.8(b), the Administrative Agent shall pay to such Bank interest on the U.S. Dollar Equivalent of the amount it was required to remit (as determined as of the day the Administrative Agent was required to make such remittance) at the Federal Funds Rate for each day that such amount is not so remitted.