Common use of Funding Assumed Clause in Contracts

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share of any Borrowing available as required by Section 2.2(b); however, failure of any Lender to make its share of any Borrowing so available does not excuse any other Lender from making its share of any Borrowing so available.

Appears in 8 contracts

Samples: Credit Agreement (Teppco Partners Lp), Term Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

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Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b)Borrowing; however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so availableBorrowing.

Appears in 3 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Capital Inc), Credit Agreement (PMC Commercial Trust /Tx)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.4(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Northern Border Partners Lp), Revolving Credit Agreement (Northern Border Partners Lp), Credit Agreement (Dobson Communications Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower PMC a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that BorrowingPMC. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b)Borrowing; however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so availableBorrowing.

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower First Western a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that BorrowingFirst Western. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b)Borrowing; however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so availableBorrowing.

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with TOGETHER WITH interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(bSECTION 2.2(B); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Magnetek Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Closing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested the Borrowing available to the Administrative Agent on the applicable Borrowing Closing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Closing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, Rate or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any a Borrowing available as required by Section 2.2(b); however, failure of any Lender to make its share Commitment Percentage of any such Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any such Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as CREDIT AGREEMENT 12 18 required by Section 2.2(bSECTION 2.2 (b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender Lender, together with interest, interest commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.8(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Dobson Communications Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the the-requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender Lender, together with interest, interest commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) from Borrower if that such Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(bSECTION 2.4(B); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Medical Assurance Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(bSECTION 2.8(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Dobson Communications Corp

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Revolving Commitment Percentage or Term Commitment Percentage, as the case may be, of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Revolving Commitment Percentage or Term Commitment Percentage, as the case may be, of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share of any Borrowing available as required by Section 2.2(b2.3(b); however, failure of any Lender to make its share of any Borrowing so available does not excuse any other Lender from making its share of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower Borrowers a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that BorrowingBorrowers. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.6(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Pledge Agreement (Adelphia Communications Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section SECTION 2.2(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage Pro Rata Part of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage Pro Rata Part of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (iii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Pro Rata Part of any Borrowing available as required by Section SECTION 2.2(b); provided, however, the failure of any Lender to make its share Pro Rata Part of any Borrowing so available does not excuse any other Lender from making its share Pro Rata Part of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(bSECTION 2.5(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Northern Border Partners Lp)

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Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(bSECTION 2.3(B); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with TOGETHER WITH interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b)Borrowing; howeverHOWEVER, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so availableBorrowing.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Revolver Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Revolver Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Revolver Borrowing. No Lender is responsible for the failure of any other Lender to make its share of any Revolver Borrowing available as required by Section 2.2(b); however, failure of any Lender to make its share of any Revolver Borrowing so available does not excuse any other Lender from making its share of any Revolver Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower Borrowers a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that BorrowingBorrowers. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.6(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.8(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Acx Technologies Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section SECTION 2.2(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Funding Assumed. Absent contrary written notice from a Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal-Funds Rate, Rate or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest at the rate applicable to that Borrowing. No Lender is responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Funding Assumed. Absent contrary written notice from a --------------- Lender, the Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, and the Administrative Agent mayand, in reliance upon such assumption assumption, Administrative Agent may (but shall not be required to), ) make available to the Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to the Administrative Agent on the applicable Borrowing Date, the Administrative Agent may recover the applicable amount on demand demand, (i) from that Lender together with interest, commencing on the Borrowing Date and ending on (but excluding) the date the Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Fed Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from the Borrower, together with interest Borrower at the applicable contract rate applicable to that Borrowinghereunder. No Lender is shall be responsible for the failure of any other Lender to make its share Commitment Percentage of any Borrowing available as required by Section 2.2(b2.6(b); however, failure of any Lender to make its share Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its share Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Security Agreement (Azz Inc)

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