Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. In the event that the Borrower shall fail to reimburse the Agent as provided in Section 2.1.6, the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent an amount equal to its respective participation, in Dollars and in immediately available funds, at the office of the Agent specified in such notice not later than 1:00 P.M. (New York, New York time) on the Business Day after the date notified by the Agent and such amount shall be deemed to be outstanding hereunder as a Base Rate Revolving Loan. Each Lender shall be obligated to make such Revolving Loan hereunder regardless of whether the conditions precedent in Article 4 are satisfied and regardless of whether such Revolving Loan complies with the minimum borrowing requirements hereunder. In the event that any such Lender fails to make available to the Agent the amount of such Lender's participation in such drawing under any Letter of Credit, the Agent shall be entitled to recover such amount on demand from such Lender together with interest as provided for in Section 3.4.2. The Agent shall distribute to each Lender which has paid all amounts payable under this Section with respect to any Letter of Credit, such Lender's Revolving Percentage of all payments received by the Agent from the Borrower in reimbursement of drawings honored by the Agent under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that the Borrower Intermet shall fail to reimburse the Agent Issuer as provided in Section 2.1.62.06, the Agent Issuer shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent Issuer an amount equal to its respective participation, in Dollars and in immediately available funds, at the office of the Agent Issuer specified in such notice not later than 1:00 P.M. PM (New YorkAtlanta, New York Georgia time) on the Business Day after the date notified by the Agent Issuer and such amount shall be deemed to be outstanding hereunder as a Base Rate Revolving Loan. Each Lender shall be obligated to make such Revolving Base Rate Loan hereunder regardless of whether the conditions precedent in Article 4 IV are satisfied and regardless of whether such Revolving Base Rate Loan complies with the minimum borrowing requirements hereunder. In the event that any such Lender fails to make available to the Agent Issuer the amount of such Lender's participation in such drawing under any Letter of Credit, the Agent Issuer shall be entitled to recover such amount on demand from such Lender together with interest as provided for in Section 3.4.23.02. The Agent Issuer shall distribute to each Lender which has paid all amounts payable under this Section with respect to any Letter of Credit, such Lender's Revolving Percentage Pro Rata Share of all payments received by the Agent Issuer from the Borrower Intermet in reimbursement of drawings honored by the Agent Issuer under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that the Borrower shall fail to reimburse the Agent as provided in Section 2.1.62.06, the Agent shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent an amount equal to its respective participation, in Dollars and in immediately available funds, at the office of the Agent specified in such notice not later than 1:00 P.M. (New YorkAtlanta, New York Georgia time) on the Business Day after the date notified by the Agent and such amount shall be deemed to be outstanding hereunder as a Base Rate Revolving Loan. Each Lender shall be obligated to make such Revolving Base Rate Loan hereunder regardless of whether the conditions precedent in Article 4 IV are satisfied and regardless of whether such Revolving Base Rate Loan complies with the minimum borrowing requirements hereunder. In the event that any such Lender fails to make available to the Agent the amount of such Lender's participation in such drawing under any Letter of Credit, the Agent shall be entitled to recover such amount on demand from such Lender together with interest as provided for in Section 3.4.23.02. The Agent shall distribute to each Lender which has paid all amounts payable under this Section with respect to any Letter of Credit, such Lender's Revolving Percentage Pro Rata Share of all payments received by the Agent from the Borrower in reimbursement of drawings honored by the Agent under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that the Borrower shall fail to reimburse the Agent Issuer as provided in Section 2.1.62.06, the Agent Issuer shall promptly notify each Lender of the unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent Issuer an amount equal to its respective participation, in Dollars and in immediately available funds, at the office of the Agent Issuer specified in such notice not later than 1:00 P.M. PM (New YorkAtlanta, New York Georgia time) on the Business Day after the date notified by the Agent Issuer and such amount shall be deemed to be outstanding hereunder as a Base Rate Revolving Loan. Each Lender shall be obligated to make such Revolving Base Rate Loan hereunder regardless of whether the conditions precedent in Article 4 IV are satisfied and regardless of whether such Revolving Base Rate Loan complies with the minimum borrowing requirements hereunder. In the event that any such Lender fails to make available to the Agent Issuer the amount of such Lender's participation in such drawing under any Letter of Credit, the Agent Issuer shall be entitled to recover such amount on demand from such Lender together with interest as provided for in Section 3.4.23.02. The Agent Issuer shall distribute to each Lender which has paid all amounts payable under this Section with respect to any Letter of Credit, such Lender's Revolving Percentage Pro Rata Share of all payments received by the Agent Issuer from the Borrower in reimbursement of drawings honored by the Agent Issuer under such Letter of Credit when such payments are received.