Common use of Payment by Lenders Clause in Contracts

Payment by Lenders. In the event that the Borrower does not reimburse the Issuing Bank for the amount of any drawing pursuant to Section 4.5, the Agent shall promptly notify each Lender of the reimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Issuing Bank an amount equal to its respective participation in same day funds, at the office of the Issuing Bank specified in such notice, not later than 1:00 P.M. (New York City time) on the business day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by the Agent. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 4.6, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for three Business Days and thereafter at the Prime Rate. The Agent or the Issuing Bank shall distribute to each other Lender which has paid all amounts payable by it under this Section 4.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Share of all payments subsequently received by the Agent or the Issuing Bank from the Borrower in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that the Borrower does Borrowers do not reimburse the Issuing Bank for the amount of any drawing pursuant to Section 4.53.5, the Agent shall promptly notify each Lender of the reimbursed unreimbursed amount of such drawing and of such LenderXxxxxx's respective participation therein. Each Lender shall make available to the Issuing Bank an amount equal to its respective participation in same day funds, at the office of the Issuing Bank specified in such notice, not later than 1:00 P.M. p.m. (New York City time) on the business day first Business Day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by the Agent. In the event that any Lender fails to make available to the Issuing Bank the amount of such LenderXxxxxx's participation in such Letter of Credit as provided in this Section 4.63.6, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for three (3) Business Days and thereafter at the Prime Lending Rate. The Agent or the Issuing Bank shall distribute to each other Lender which has paid all amounts payable by it under this Section 4.6 3.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Share of all payments subsequently received by the Agent or the Issuing Bank from the Borrower Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payment by Lenders. In the event that the Borrower does Borrowers do not reimburse the Issuing Bank for the amount of any drawing pursuant to Section 4.53.5, the Agent shall promptly notify each Lender of the reimbursed unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Issuing Bank an amount equal to its respective participation in same day funds, at the office of the Issuing Bank specified in such notice, not later than 1:00 P.M. p.m. (New York City time) on the business day first Business Day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by the Agent. In the event that any Lender fails to make available to the Issuing Bank the amount of such Lender's participation in such Letter of Credit as provided in this Section 4.63.6, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for three (3) Business Days and thereafter at the Prime Rate. The Agent or the Issuing Bank shall distribute to each other Lender which has paid all amounts payable by it under this Section 4.6 3.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Share of all payments subsequently received by the Agent or the Issuing Bank from the Borrower Borrowers in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.

Payment by Lenders. In To the event extent that the Borrower does Revolving Loans are not made in an amount sufficient to reimburse the Issuing Bank in full for the amount of any drawing pursuant to Section 4.5draw, the Agent shall promptly notify each Lender of the reimbursed unreimbursed amount of such drawing and of such Lender's respective participation therein. Each Lender shall make available to the Agent for the benefit of the Issuing Bank an amount equal to its such Lender's respective participation in same day immediately available funds, at the office of the Issuing Bank specified in such notice, not later than 1:00 P.M. (New York City time) Boston time on the business day Business Day (under the laws of the jurisdiction of the Issuing Bank) after the date notified by the Agent. In the event that any Lender fails to make available to the Issuing Bank Agent the amount of such Lender's participation in such Letter of Credit as provided in this Section 4.63.6, the Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest at the Federal Funds Rate for the first three (3) Business Days while such amount remains unpaid and thereafter at the Prime Base Rate. The Agent or the Issuing Bank shall distribute to each other Lender which has paid all amounts payable by it under this Section 4.6 3.6 with respect to any Letter of Credit issued by the Issuing Bank such other Lender's Proportionate Share of all payments subsequently received by the Agent or the Issuing Bank from the Borrower in reimbursement of drawings honored by the Issuing Bank under such Letter of Credit when such payments are received.