Common use of Distribution of Payments Clause in Contracts

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 10:00 a.m. London New York time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower Borrowers or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 10:00 a.m. London New York time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower Borrowers or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from any of the Borrower or the Guarantor Borrowers for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 13, or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower Borrowers or the Guarantor any other Security Party for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 14 or otherwise, it will thereafter cause to be distributed on the second same day after receipt if received before 10 a.m. London New York time, or on the third next day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the a Borrower prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 14 or otherwise, it will thereafter cause to be distributed on the second same day after receipt if received before 10 a.m. London New York time, or on the third next day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from any of the Borrower or the Guarantor Borrowers for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 14 or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the such Borrower prior to the date when any payment is due hereunder that the such Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the such Borrower have has made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the any Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the such Borrower (but without duplication) severally agree agrees to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether in respect of principal or interest on the NoteLoans is remitted to the Company at a time when a Purchaser has any Unrecovered Liquidity Purchase Price with respect to any Percentage Interest hereunder or any interest on such Unrecovered Liquidity Purchase Price is accrued and unpaid, commissionsthe Administrator shall promptly pay, fees under Section 15 or otherwise, it will thereafter cause to be distributed paid, to the Liquidity Agent an amount equal to the sum of the lesser of (A) the product of (x) the amount of such payment in respect of principal on the second day after receipt if received before 10 a.m. London timeLoans, times (y) the Liquidity Funded Percentage, expressed as a decimal, and (B) the aggregate Unrecovered Liquidity Purchase Price of such Percentage Interests hereunder, plus the lesser of (A) the product of (x) the amount of such payment in respect of interest on the Loans, times (y) the Liquidity Funded Percentage, and (B) the amount of accrued interest on the portions of the Loans funded by purchases of Percentage Interests hereunder, and the Liquidity Agent shall promptly pay, or cause to be paid, out of such funds received by it, to each Purchaser, its Purchaser Percentage of such amount; provided, however, that solely for purposes of determining the accrued interest described in clause (1)(ii)(B) above, such interest shall be calculated at the rate provided in the Loan Agreement less 0.025%; and provided further, that each Purchaser shall be entitled to interest only which accrued from and after the date it purchased such Percentage Interest or which was included in the Liquidity Purchase Price of such Percentage Interest. If, after the Liquidity Agent has paid a Purchaser its Purchaser Percentage of any such amount pursuant to subsection (a) above, all or any portion of such amount must be returned for any reason (including any Insolvency Proceeding), such Purchaser will repay to the Liquidity Agent promptly the amount the Liquidity Agent paid to such Purchaser and required to be returned, together with such Purchaser's Purchaser Percentage of any related interest and penalties required to be paid by the Liquidity Agent in connection with such repayment. After the Unrecovered Liquidity Purchase Price of any Percentage Interest and accrued interest thereon has been paid to the applicable Purchaser (excluding any repayment referred to in subsection (b) above), such Purchaser acknowledges and agrees that any remaining amounts of principal or interest paid on the third day after receipt if received thereafterLoans to which such Purchaser would otherwise be entitled by reason of its Percentage Interest shall be paid to or retained by the Company for its own account. Each Purchaser shall also be entitled to the following payments made by the Borrower under the Loan Agreement, like funds to the extent related to such Purchaser's Percentage Interests: increased capital costs, increased costs, reserves or taxes relating to the Alternative Rate, indemnities, and costs and expenses of enforcement. However, the Purchasers shall not be entitled to any of the fees set forth or referred to in of the Loan Agreement except as agreed in any separate fee letters among the Liquidity Agent, the Administrator and each Purchaser. If any Purchaser shall obtain any payment or distribution (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the Percentage Interests held by it (other than any payment of a type described in subsection (d) above and any distribution in accordance with Section 11(b) in respect of Percentage Interests purchased by a non-renewing Purchaser pursuant to such Section 11(b)) in excess of its ratable share of payments or distributions on account of the Percentage Interests held by all the Purchasers, then such Purchaser shall forthwith (i) notify the Liquidity Agent (who shall promptly thereafter notify each of the other Purchasers) of such receipt, and (ii) purchase from the other Purchasers such participations in Percentage Interests held by them as shall be necessary to cause such purchasing Purchaser to share the excess payment or distribution ratably with each of them; provided, however, that, if all or any portion of such excess payment or distribution is thereafter recovered from such purchasing Purchaser, such purchase from each Purchaser shall be rescinded and such Purchaser shall repay to the Lenders according purchasing Purchaser the Liquidity Purchase Price to their respective Commitments, in each case the extent of such recovery together with an amount equal to be applied such Purchaser's ratable share (according to the terms proportion of this Agreement. Unless (i) the Facility Agent or amount of such Purchaser's required repayment to (ii) the Security Trustee, as the case may be, shall have received notice total amount so recovered from the Borrower prior purchasing Purchaser) of any interest or other amount paid or payable by the purchasing Purchaser in respect of the total amount so recovered. The Company agrees that any Purchaser so purchasing a participation from another Purchaser pursuant to this Section 4(e) may, to the date when any fullest extent permitted by law, exercise all its rights of payment is due hereunder that (including the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating right of set-off) with respect to such payment ratably to participation as fully as if such Purchaser were the Lenders according to their respective Commitments. If and to direct owner of the extent that Percentage Interest in the Borrower shall not have so made amount of such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of fundsparticipation.

Distribution of Payments. Whenever any payment is received by the Facility Administrative Agent or the Security Trustee from the Borrower Borrowers or the Guarantor any other Security Party for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 14 or otherwise, it will thereafter cause to be distributed on the second same day after receipt if received before 10 a.m. London New Orleans time, or on the third next day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Administrative Agent or the Security Trustee, as the case may be, shall have received notice from the a Borrower prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Administrative Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Administrative Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Administrative Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Administrative Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Administrative Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Administrative Agent or the Security Trustee, as the case may be, as calculated by the Facility Administrative Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor any other Credit Party for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 Sections 3.6 and 13, or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have has made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree agrees to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower Borrowers or the Guarantor any other Credit Party for the account of the Lenders, or any of them, whether of principal or interest on the NoteNotes, commissions, fees under Section 15 13, or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective CommitmentsCommitments in respect of a Tranche, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree agrees to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according Pursuant to the terms of this Agreement. Unless the Facility Agent Trust Documents to which the TRS Sub-Trust is a party, after payment by the TRS Sub-Trust of all amounts owed to the Noteholders, UBS, the TRS Servicer, the Master Servicer and, pursuant to Section 3.4 hereof, the REIT Sub-Trust and MortgageIT Holdings on each Payment Date, any remaining funds in the Blocked Account and in the Collection Account will be remitted by the TRS Servicer in the following order of priority: (i) to reimburse or indemnify the Security Owner Trustee for expenses and other liabilities incurred by and reimbursable to the Owner Trustee, pursuant to Article VII hereunder, except as otherwise provided in such article and (ii) to make payments on the case may beTRS Certificates in the amount of any remaining funds. Upon request, the Certificate Registrar shall have received notice from provide the Borrower TRS Servicer with the identity of each Certificateholder with respect to the related TRS Sub-Trust (with accompanying wiring instructions) three (3) Business Days prior to each such Payment Date. Pursuant to the date when any terms of the Trust Documents to which the REIT Sub-Trust is a party, after payment is due hereunder that by the Borrower will not make any payment on such dateREIT Sub-Trust of all amounts owed to UBS, the Facility Agent REIT Servicer, the Master Servicer and, pursuant to Section 3.4 hereof, the TRS Sub-Trust and MortgageIT on each Payment Date, any remaining funds in the Collection Account will be remitted by the REIT Servicer in the following order of priority: (i) to reimburse or indemnify the Security Owner Trustee may assume that the Borrower have made such payment for expenses and other liabilities incurred by and reimbursable to the Facility Agent or the Security Owner Trustee, pursuant to Article VII hereunder, except as the case may be, otherwise provided in such article and (ii) to make payments on the relevant date and REIT Certificates in the Facility Agent or amount of any remaining funds. Upon request, the Security Trustee may, in reliance upon such assumption, make available Certificate Registrar shall provide the REIT Servicer with the identity of each Certificateholder with respect to the Lenders on related REIT Sub-Trust (with accompanying wiring instructions) three (3) Business Days prior to each such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of fundsPayment Date.

Distribution of Payments. Whenever any payment is received by the Facility Administrative Agent or the Security Trustee from the Borrower or the Guarantor Borrowers for the account of the Lenders, or any of them, whether of principal or interest on the NoteNotes, commissions, fees under Section 15 13 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 10:00 a.m. London New York time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective CommitmentsCommitments in respect of a Class, in each case to be applied according to the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, any payment received by the Administrative Agent or the Security Trustee in respect of the Class B Debt pursuant to Section 5.1 hereof, whether due or to become due on the Class B Debt Final Repayment Date shall be applied in full to amounts due to repayment of the Class B Debt and, to the extent applicable, any other amounts owing in relation to the Class B Debt for which a Creditor (or its affiliate) is a Lender. Unless the Facility Administrative Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Administrative Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Administrative Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Administrative Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective CommitmentsCommitments in respect of a Class. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Administrative Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Administrative Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Administrative Agent or the Security Trustee, as the case may be, as calculated by the Facility Administrative Agent or Security Trustee to reflect its cost of funds.”;

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London New York time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from any of the Borrower or the Guarantor Borrowers for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 14 or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the such Borrower prior to the date when any payment is due hereunder that the such Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the such Borrower have has made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the any Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the such Borrower (but without duplication) severally agree agrees to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.. 16.4

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 10:00 a.m. London New York time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective Commitments, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, SK 01029 0083 6036089 forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower or the Guarantor any other Credit Party for the account of the Lenders, or any of them, whether of principal or interest on the NoteNotes, commissions, fees under Section 15 13, or otherwise, it will thereafter cause to be distributed on the second day after receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment to be promptly distributed ratably to the Lenders according to their respective CommitmentsCommitments in respect of a Tranche, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower prior to the date when any payment is due hereunder that the Borrower will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower have has made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective Commitments. If and to the extent that the Borrower shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower (but without duplication) severally agree agrees to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.

Distribution of Payments. Whenever any payment is received by the Facility Agent or the Security Trustee from the Borrower Borrowers or the Guarantor for the account of the Lenders, or any of them, whether of principal or interest on the Note, commissions, fees under Section 15 or otherwise, it will thereafter cause to be distributed on the second day after of receipt if received before 10 a.m. London time, or on the third day after receipt if received thereafter, like funds relating to such payment ratably to the Lenders according to their respective CommitmentsAdvances, in each case to be applied according to the terms of this Agreement. Unless the Facility Agent or the Security Trustee, as the case may be, shall have received notice from the Borrower Borrowers prior to the date when any payment is due hereunder that the Borrower Borrowers will not make any payment on such date, the Facility Agent or the Security Trustee may assume that the Borrower Borrowers have made such payment to the Facility Agent or the Security Trustee, as the case may be, on the relevant date and the Facility Agent or the Security Trustee may, in reliance upon such assumption, make available to the Lenders on such date a corresponding amount relating to such payment ratably to the Lenders according to their respective CommitmentsAdvances. If and to the extent that the Borrower Borrowers shall not have so made such payment available to the Facility Agent or the Security Trustee, as the case may be, the Lenders and the Borrower Borrowers (but without duplication) severally agree to repay to the Facility Agent or the Security Trustee, as the case may be, forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Lenders until the date such amount is repaid to the Facility Agent or the Security Trustee, as the case may be, as calculated by the Facility Agent or Security Trustee to reflect its cost of funds.