Common use of Payments by Borrowers; Presumptions by Administrative Agent Clause in Contracts

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Banks hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks the amount due. In such event, if the applicable Borrower has not in fact made such payment, then each of the Banks severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Alliancebernstein Holding L.P.), Revolving Credit Agreement (Alliancebernstein L.P.), Revolving Credit Agreement (Alliancebernstein Holding L.P.)

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Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 6 contracts

Samples: Credit Agreement, Term Loan Agreement (Highwoods Realty LTD Partnership), Seven Year Term Loan Agreement (Highwoods Realty LTD Partnership)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 6 contracts

Samples: Credit Agreement (Athene Holding LTD), Credit Agreement (Athene Holding LTD), 364 – Day Credit Agreement (Athene Holding LTD)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Administrative Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 5 contracts

Samples: Term Loan Agreement (Potlatchdeltic Corp), Term Loan Agreement (Potlatchdeltic Corp), Term Loan Agreement (Potlatchdeltic Corp)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Banks hereunder applicable Lenders that such the applicable Borrower will not make such payment, the Administrative Agent may assume that such the applicable Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks such Lenders the amount due. In such event, if the applicable Borrower has not in fact made such payment, then each of the Banks applicable Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the applicable Borrower with the foregoingrespect to any amount owing under this clause (c) shall be conclusive, absent demonstrable error.

Appears in 4 contracts

Samples: Credit Agreement (AquaVenture Holdings LTD), Credit Agreement (AquaVenture Holdings LTD), Credit Agreement (AquaVenture Holdings LTD)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the applicable Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 3 contracts

Samples: Credit Agreement (Public Service Co of New Hampshire), Credit Agreement (Connecticut Light & Power Co), Credit Agreement (Public Service Co of New Hampshire)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 3 contracts

Samples: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable a Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks applicable Lenders the amount due. In such event, if the applicable such Borrower has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or any Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 3 contracts

Samples: Term Loan Agreement (Global Payments Inc), Term Loan Agreement (Global Payments Inc), Term Loan Agreement (Global Payments Inc)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Appropriate Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Appropriate Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (GTT Communications, Inc.), Credit Agreement (GTT Communications, Inc.)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Lead Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Lead Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Term Loan Agreement (Keane Group, Inc.), Intercreditor Agreement (Coldwater Creek Inc)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable a Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Colony Financial, Inc.), Credit Agreement (Colony Financial, Inc.)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Lead Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Lead Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Destination Maternity Corp), Term Loan Credit Agreement (Destination Maternity Corp)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such the Borrower will not make such payment, the Administrative Agent may assume that such the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Day Revolving Credit Agreement (Nucor Corp), Term Loan Credit Agreement (Helen of Troy LTD)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Company with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Career Education Corp), Credit Agreement (Career Education Corp)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Lead Borrower prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis federal funds rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Childrens Place, Inc.)

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Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrower Agent with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Prospect Medical Holdings Inc)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Bank, Lender in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules and conventions on interbank compensation, plus . Any payment by any administrative, processing Lender pursuant to this clause (i) shall be without prejudice to any claim such Lender or similar fees customarily charged by the Administrative Agent in connection may have against the Borrowers for having failed to make such payment to the Administrative Agent. A notice of the Administrative Agent to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Velti PLC)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Appropriate Lenders the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Appropriate Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Vonage Holdings Corp)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Agent prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to Lenders, as the Banks case may be, the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of Lenders, as the Banks case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the . A notice of Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable a Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable such Borrower has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or any Borrower with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Day Term Loan and Guaranty Agreement (James Hardie Industries PLC)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Agent prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Xxxxxxx hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to Lenders, as the Banks case may be, the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of Lenders, as the Banks case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the . A notice of Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower the Borrowers will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and maymay (in its sole discretion), in reliance upon such assumption, distribute to the Banks Lenders, the amount due. In such event, if the applicable Borrower has Borrowers have not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or any Borrower with the foregoingrespect to any amount owing under this clause (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (LMP Automotive Holdings, Inc.)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable Borrower Borrowers prior to the time at which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower Borrowers will not make such payment, the Administrative Agent may assume that such Borrower Borrowers has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower Borrowers has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (CBL & Associates Properties Inc)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable a Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable Borrower Borrowers has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the . A notice of Administrative Agent in connection to any Lender or Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (Cb Richard Ellis Realty Trust)

Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received notice from the applicable either Borrower prior to the time at date on which any payment is due to the Administrative Agent for the account of the Banks Lenders hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has the Borrowers have made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Banks Lenders the amount due. In such event, if the applicable either Borrower has not in fact made such payment, then each of the Banks Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such BankLender, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Rate Basis and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by . A notice of the Administrative Agent in connection to any Lender or the Borrowers with the foregoingrespect to any amount owing under this subsection (b) shall be conclusive, absent manifest error.

Appears in 1 contract

Samples: Credit Agreement (CBOE Holdings, Inc.)

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