Common use of Pro Rata Treatment and Application of Principal Payments Clause in Contracts

Pro Rata Treatment and Application of Principal Payments. Each payment, including each prepayment, of principal and interest on the Loans and of the Facility Fee and the Utilization Fee shall be made by the Borrower to the Administrative Agent at its office provided for in Section 11.2 in funds immediately available to the Administrative Agent at such office by 1:00 p.m. on the due date for such payment, and, promptly upon receipt thereof by the Administrative Agent, shall be remitted by the Administrative Agent in like funds as received, to the Lenders according to the Commitment Percentage of each Lender, in the case of the Facility Fee and the Utilization Fee then due to the Lenders, pro rata according to the aggregate outstanding principal balance of the Revolving Credit Loans, in the case of principal and interest then due thereon, and to the applicable Lender in the case of principal and interest then due on a Competitive Bid Loan. The failure of the Borrower to make any such payment by such time shall not constitute a default hereunder, provided that such payment is made on such due date, but any such payment made after 1:00 p.m. on such due date shall be deemed to have been made on the next Business Day for the purpose of calculating interest on amounts outstanding on the Loans. If any payment hereunder or under the Notes shall be due and payable on a day which is not a Business Day, the due date thereof (except as otherwise provided in the definition of Interest Period) shall be extended to the next Business Day and (except with respect to payments in respect of the Facility Fee and the Utilization Fee) interest shall be payable at the applicable rate specified herein during such extension.

Pro Rata Treatment and Application of Principal Payments. Each payment, including each prepayment, of principal and interest on the Loans and of the Facility Fee and the Utilization Fee shall be made by the Borrower to the Administrative Agent at its office provided for in Section 11.2 in funds immediately available to the Administrative Agent at such office by 1:00 p.m. on the due date for such payment, and, promptly upon receipt thereof by the Administrative Agent, shall be remitted by the Administrative Agent in like funds as received, to the Lenders according to the Commitment Percentage of each Lender, in the case of the Facility Fee and the Utilization Fee then due to the Lenders, pro rata according to the aggregate outstanding principal balance of the Revolving Credit Loans, in the case of principal and interest then due thereon, and to the applicable Lender in the case of principal and interest then due on a Competitive Bid Loan. The failure of the Borrower to make any such payment by such time shall not constitute a default hereunder, provided that such payment is made on such due date, but any such payment made after 1:00 -33- 35 p.m. on such due date shall be deemed to have been made on the next Business Day for the purpose of calculating interest on amounts outstanding on the Loans. If any payment hereunder or under the Notes shall be due and payable on a day which is not a Business Day, the due date thereof (except as otherwise provided in the definition of Interest Period) shall be extended to the next Business Day and (except with respect to payments in respect of the Facility Fee and the Utilization Fee) interest shall be payable at the applicable rate specified herein during such extension.

Pro Rata Treatment and Application of Principal Payments. Each payment, including each prepayment, of principal and interest on the Loans and of the Facility Commitment Fee and the Utilization Letter of Credit Fee shall be made by the Borrower without set-off or counterclaim and shall be made to the Administrative Agent in Dollars at its office provided for in Section 11.2 the applicable Agent Payment Office in funds immediately available to the Administrative Agent at such office by 1:00 p.m. 1:30 P.M. on the due date for such payment, and, promptly upon receipt thereof by the Administrative Agent, shall be remitted by the Administrative Agent Agent, in like funds as received, (i) to the Lenders having a Revolving Tranche Commitment according to the Commitment Percentage of each LenderLender with respect to its Revolving Tranche Commitment, in the case of the Facility Commitment Fee and the Utilization Fee then due Letter of Credit Fee, (ii) to the Lenders, Lenders pro rata according to the aggregate outstanding principal balance of the Revolving Credit Tranche Loans and Term Tranche Loans, as the case may be, in the case of principal and interest then due thereon, thereon and (iii) to the applicable Swing Line Lender in the case of principal and interest then due on a Competitive Bid the Swing Line Loan. The failure of the Borrower to make any such payment by such time shall not constitute a default hereunder, provided that such payment is made on such due date, but any such payment made after 1:00 p.m. 1:30 P.M. on such due date shall be deemed to have been made on the next Business Day for the purpose of calculating interest on amounts outstanding on the Loans. If any payment hereunder or under the Notes shall be due and payable on a day which that is not a Business Day, the due date thereof (except as otherwise provided in the definition of Interest Period) shall be extended to the next Business Day and (except with respect to payments in respect of the Facility Commitment Fee and the Utilization Letter of Credit Fee) interest shall be payable at the applicable rate specified herein during such extension. If any payment is made with respect to any Eurodollar Advance prior to the last day of the applicable Interest Period, the Borrower shall indemnify each Lender in accordance with Section 2.15.