Common use of Non-Receipt of Funds by the Administrative Agent Clause in Contracts

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower (the "PAYOR") prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an Advance to be made by it hereunder or Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return to the Administrative Agent the amount made available to it together with interest thereon in respect of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to the Federal Funds Rate for such period.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower (the "PAYOR") prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an any proposed Advance to be made by it hereunder or Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, ) that the Payor such Lender does not intend to make the Required Payment proceeds of such Advance available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such proceeds available to the Required Payment has been made Administrative Agent on such date, and may, the Administrative Agent may in reliance upon such assumption (but shall not be required to), ) make the amount thereof available to the intended recipient on Borrower a corresponding amount. If such date and, if the Payor has corresponding amount is not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to it pay such amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by to the Administrative Agent until Borrower and ending on (but excluding) the date the Administrative Agent recovers receives such amount from the Lender, with interest thereon at a rate per annum rate equal to the lesser of (i) the Highest Lawful Rate or (ii) the Federal Funds Rate Rate. No Lender shall be liable for such periodany other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower the Company (the "PAYOR") prior to the date on (or, in the case of Base Rate Loans, prior to the time by) which such Lender is to make payment to the Administrative Agent of the proceeds of an Advance a Loan to be made by it hereunder or Borrower the Company is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date (or at such time) and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return pay to the Administrative Agent the amount made available to it together with interest thereon in respect of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to the Federal Funds Rate for such period.the

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower (the "PAYOR") prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an any proposed Advance to be made by it hereunder or Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, ) that the Payor such Lender does not intend to make the Required Payment proceeds of such Advance available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such proceeds available to the Required Payment has been made Administrative Agent on such date, and may, the Administrative Agent may in reliance upon such assumption (but shall not be required to), ) make the amount thereof available to the intended recipient on Borrower a corresponding amount. If such date and, if the Payor has corresponding amount is not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to it pay such amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by to the Administrative Agent until Borrower and ending on (but excluding) the date the Administrative Agent recovers receives such amount from the Lender, with interest thereon if paid by such Lender, at a rate per annum rate equal to the Federal Funds Rate, and if paid by the Borrower, at the applicable Base Rate Basis. No Lender shall be liable for such periodany other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower the Company (the "PAYOR"“Payor”) prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an Advance a Loan to be made by it hereunder or a Borrower is to make a payment to the Administrative Agent for the account of one or more of the LendersLenders or Issuing Banks, as the case may be (such payment being herein called the "REQUIRED PAYMENT"“Required Payment”), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return pay to the Administrative Agent the amount made available to it together with interest thereon in respect of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to the Federal Funds Effective Rate for such periodperiod or, in the case of an amount payable in a currency other than Dollars, the rate determined by the Administrative Agent in its discretion of the appropriate rate for interbank settlements.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender Bank or the Borrower (the "PAYORPayor") prior to the date on which such Lender Bank is to make payment to the Administrative Agent of the proceeds of an Advance or draw under a letters of credit to be made by it hereunder or the Borrower is to make a payment to the Administrative Agent for the account of one or more of the LendersBanks, as the case may be (such payment being herein called the "REQUIRED PAYMENTRequired Payment"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return pay to the Administrative Agent the amount made available to it together with interest thereon in respect of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to, with respect to any Bank, the 30 day Term Federal Funds Rate for and with respect to the Borrower, at the 30 day Term Federal Funds Rate plus 3.00% and (b) the Administrative Agent shall be entitled to offset against any and all sums to be paid to such periodrecipient, the amount calculated in accordance with the foregoing clause (a).

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower F.Y.I. (the "PAYORPayor") prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an Advance a Loan to be made by it hereunder or Borrower F.Y.I. is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENTRequired Payment"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return pay to the Administrative Agent the amount made available to it together with interest thereon in respect of the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to the Federal Funds Rate for such period.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by a Lender or Borrower (the "PAYOR") prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an any proposed Advance to be made by it hereunder or Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, ) that the Payor such Lender does not intend to make the Required Payment proceeds of such Advance available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such proceeds available to the Required Payment has been made Administrative Agent on such date, and may, the Administrative Agent may in reliance upon such assumption (but shall not be required to), ) make the amount thereof available to the intended recipient on Borrower a corresponding amount. If such date and, if the Payor has corresponding amount is not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such amount made available on demand from such Lender (or, if such Lender fails to it pay such amount forthwith upon such demand, from the Borrower) together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by to the Administrative Agent until Borrower and ending on (but excluding) the date the Administrative Agent recovers receives such amount from the Lender, calculated at a rate per annum rate equal to the lesser of (a) the Highest Lawful Rate or (b) the Federal Funds Rate Rate. No Lender shall be liable for such periodany other Lender's failure to fund an Advance hereunder.

Non-Receipt of Funds by the Administrative Agent. Unless the Borrowers’ Agent or a Lender, as the case may be, notifies the Administrative Agent shall have been notified by a Lender or Borrower (the "PAYOR") Agent, prior to the date on which such Lender it is scheduled to make payment to the Administrative Agent of (or, with respect to Base Rate Advances, prior to the proceeds of an Advance time such Advances are required to be made by it hereunder a Lender) of (i) in the case of a Lender, the proceeds of a Loan or Borrower is to make (ii) in the case of the Borrowers, a payment of principal, interest or fees to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"), which notice shall be effective upon receipt, that the Payor it does not intend to make the Required Payment to the Administrative Agentsuch payment, the Administrative Agent may assume that the Required Payment such payment has been made and made. The Administrative Agent may, in reliance upon such assumption (but shall not be required obligated to), make the amount thereof of such payment available to the intended recipient on in reliance upon such date andassumption. If such Lender or a Borrower, if as the Payor case may be, has not in fact made the Required Payment such payment to the Administrative Agent, the recipient of such payment shall, on demanddemand by the Administrative Agent, return repay to the Administrative Agent the amount so made available to it together with interest thereon in respect of each day during the period commencing on from and including the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to (x) in the case of payment by a Lender, the Federal Funds Effective Rate for such periodday for the first three days and, thereafter, the interest rate applicable to the relevant Loan or (y) in the case of payment by the Borrowers, the interest rate applicable to the relevant Loan.

Non-Receipt of Funds by the Administrative Agent. Unless the Administrative Agent shall have been notified by received notice from a Lender or the Borrower (in such capacity, the "PAYOR"“Payor”) prior to the date on which such Lender is to make payment to the Administrative Agent of the proceeds of an Advance a Loan to be made by it hereunder or the Borrower is to make a payment to the Administrative Agent for the account of one or more of the Lenders, as the case may be (such payment being herein called the "REQUIRED PAYMENT"“Required Payment”), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Administrative Agent, the Administrative Agent may assume that the Required Payment has been made and may, in reliance upon such assumption (but shall not be required to), make the amount thereof available to the intended recipient on such date and, if the Payor has not in fact made the Required Payment to the Administrative Agent, the recipient of such payment shall, on demand, return repay to the Administrative Agent the amount made available to it together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by the Administrative Agent until the date the Administrative Agent recovers such amount at a rate per annum equal to (i) when the recipient is a Lender, the Federal Funds Rate for such periodday, or (ii) when the recipient is the Borrower, the rate of interest applicable to such Loan.