Payment by Agent Sample Clauses
Payment by Agent. For greater certainty, the following provisions shall apply to any and all payments made by the Agent to the Lenders hereunder:
(a) the Agent shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the Borrower;
(b) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by the Borrower under this Agreement, the Agent shall have no obligation to remit to each Lender any amount other than such Lender’s Applicable Percentage of that amount which is the amount actually received by the Agent;
(c) if any Lender advances more or less than its Applicable Percentage of the Credit, such Lender’s entitlement to such payment shall be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender;
(d) if a Lender’s Applicable Percentage of an Advance has been advanced, or a Lender’s Commitment has been outstanding, for less than the full period to which any payment (other than a payment of principal) by a Borrower relates, such Lender’s entitlement to such payment shall be reduced in proportion to the length of time such Lender’s Applicable Percentage of the Credits or such Lender’s Commitment, as the case may be, has actually been outstanding;
(e) the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination shall, in the absence of manifest error, be binding and conclusive; and
(f) upon request, the Agent shall deliver a statement detailing any of the payments to the Lenders referred to herein.
Payment by Agent. If ▇▇▇▇▇▇▇▇’s fees for the Services are paid by a third party, should the third party fail to make payment in accordance with the terms of its agreement with FORTE, FORTE may immediately suspend or terminate Merchant’s access to the Services until payment is received or seek payment from Merchant directly in order to continue servicing Merchant.
Payment by Agent. 1. The Agent shall disburse the relevant proceeds of Loans received by it in accordance with Article 8.1 (Disbursement of proceeds of loans) to the Loan Account before [16:00] (Beijing time) on each Disbursement Date and make payment in accordance with Article 8.2 (Payment of proceeds of loans). The Agent is obliged to notify each Lender of the payment status of such Loan.
2. The Agent shall pay the relevant fees received by it pursuant to Article 8.3 (Payment by Borrower) to each Syndicate Bank Account in accordance with the order and proportion set forth in Article 8.5 (Payment order) before [16:00] (Beijing time) on the date of the Agent’s receipt of the relevant fees.
3. If the entrusted payment approach is adopted and the entrusted payment is not successfully completed by the Agent due to the reason that the relevant payment information and transaction documents provided by the Borrower are untrue, inaccurate and incomplete, the Agent shall not be liable for the failure to complete the entrusted payment obligation in a timely manner and the Borrower's repayment obligations under this Contract will not be affected.
4. If the bank of the Borrower’s Counterparty Account returns any payment, as a result of which the Agent cannot pay the proceeds of Loans to the Borrower’s counterparty in a timely manner, the Agent shall not be held responsible for the failure of payment, and the Borrower’s repayment obligations under this Contract will not be affected. The Borrower hereby authorizes the Agent to freeze the funds returned by the bank of the
Payment by Agent. 39 5.25 Provisions Relating to Swingline Availability........................ 40 5.26 Prohibited Rates of Interest......................................... 41