Common use of Funding Assumed Clause in Contracts

Funding Assumed. Absent contrary written notice from a Lender by 1:00 p.m. Dallas, Texas time on the applicable Borrowing Date, Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from Borrower. No Lender is responsible for the failure of any other Lender to make its Commitment Percentage of any Borrowing available as required by SECTION 2.6(b); however, failure of any Lender to make its Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Revolving Credit Agreement (Pier 1 Imports Inc/De)

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Funding Assumed. Absent contrary written notice from Notwithstanding the foregoing, unless Administrative Agent shall have been notified by a Lender by 1:00 p.m. Dallas, Texas time prior to a Borrowing Date that such Lender does not intend to make available to Administrative Agent such Lender's Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Federal-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from Borrower. No Lender is responsible for the failure of any other Lender to make its Commitment Percentage of any Borrowing available as required by SECTION 2.6(b2.5(b); however, failure of any Lender to make its Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Revolving Credit Agreement (Intermedia Communications Inc)

Funding Assumed. Absent contrary written notice from a Lender by 1:00 p.m. Dallas, Texas time on --------------- under the applicable Borrowing DateUS Facility, Administrative Agent may assume that each such Lender has made its Commitment Percentage under the US Facility of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such that assumption (but shall not be required to), make available to US Borrower a corresponding amount. If a any such Lender fails to make its Commitment Percentage under the US Facility of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from BorrowerUS Borrower together with interest at the rate applicable to that Borrowing. No Lender under the US Facility is responsible for the failure of any other Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing available as required by SECTION 2.6(b2.2(B); however, failure of any Lender under the US Facility to make its Commitment Percentage of the US Facility of any Borrowing so available does not excuse any other Lender under the US Facility from making its Commitment Percentage of the US Facility of any Borrowing so available.. Credit Agreement ----------------

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

Funding Assumed. Absent contrary written notice from a Lender by 1:00 p.m. Dallas, Texas time on the applicable Borrowing Date, Administrative Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to Borrower Borrowers a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from BorrowerBorrowers and, to the extent of availability under the Swing Line Subfacility, Borrowers shall be deemed to have requested and Swing Line Lender is hereby irrevocably authorized to fund any amounts due from Borrowers pursuant to this SECTION 2.6(c) as a Swing Line Borrowing. No Lender is responsible for the failure of any other Lender to make its Commitment Percentage of any Borrowing available as required by SECTION 2.6(b); however, failure of any Lender to make its Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its 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 by 1:00 p.m. Dallas, Texas time on --------------- under the applicable Borrowing DateUK Facility, Administrative Agent may assume that each such Lender has made its UK-Revolving-Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such that assumption (but shall not be required to), make available to the designated UK Borrower a corresponding amount. If a any such Lender fails to make its UK-Revolving- Commitment Percentage of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, then 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Fed-Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from BorrowerUK Borrowers (on a joint and several basis) together with interest at the rate applicable to that Borrowing. No Lender under the UK Facility is responsible for the failure of any other Lender under the UK Facility to make its UK-Revolving- Commitment Percentage of any Borrowing available as required by SECTION 2.6(b3.2(b); however, failure of any such Lender to make its UK-Revolving- Commitment Percentage of any Borrowing so available does not excuse any other Lender under the UK Facility from making its UK-Revolving-Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

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Funding Assumed. Absent contrary written notice from a Lender by 1:00 p.m. DallasLender, Texas time on the applicable Borrowing Date, Administrative Agent may assume that each Lender has made its Revolving Commitment Percentage or Term Commitment Percentage, as applicable, of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to Borrower a corresponding amount. If a Lender fails to make its Revolving Commitment Percentage or Term Commitment Percentage, as applicable, of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Federal-Funds Rate, Rate or (ii) if that Lender fails to pay its amount upon demand, then from Borrower. No Lender is responsible for the failure of any other Lender to make its Revolving Commitment Percentage or Term Commitment Percentage, as applicable, of any Borrowing available as required by SECTION 2.6(bSection 2.3(c); however, failure of any Lender to make its Revolving Commitment Percentage or Term Commitment Percentage, as applicable, of any Borrowing so available does not excuse any other Lender from making its Revolving Commitment Percentage or Term Commitment Percentage, as applicable, of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Funding Assumed. Absent contrary written notice from a Lender by 1:00 p.m. DallasLender, Texas time on the applicable Borrowing Date, Administrative --------------- Agent may assume that each Lender has made its Commitment Percentage of the requested Borrowing available to Administrative Agent on the applicable Borrowing Date, and Administrative Agent may, in reliance upon such assumption (but shall not be required to), make available to Borrower a corresponding amount. If a Lender fails to make its Commitment Percentage of any requested Borrowing available to Administrative Agent on the applicable Borrowing Date, 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 Administrative Agent recovers the amount from that Lender, at an annual interest rate equal to the Federal Fed- Funds Rate, or (ii) if that Lender fails to pay its amount upon demand, then from Borrower. , together with interest, commencing on the Borrowing Date and ending on (but excluding) the date Agent recovers the amount from Borrower, at an annual interest rate equal to the Base Rate No Lender is responsible for the failure of any other Lender to make its Commitment Percentage of any Borrowing available as required by SECTION 2.6(b2.3(B); however. However, failure of any Lender to make its Commitment Percentage of any Borrowing so available does not excuse any other Lender from making its Commitment Percentage of any Borrowing so available.

Appears in 1 contract

Samples: Credit Agreement (Matrix Capital Corp /Co/)

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