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

Non-Receipt of Funds by the Agent. Unless the Agent shall have been notified by a Bank or the Borrower (the “Payor”) prior to the time upon which such Bank is to make payment to the Agent of the proceeds of a Loan (including a Revolving Loan used for the purpose of refunding a Swing Line Loan) to be made by it hereunder or the Borrower is to make a payment to the Agent for the account of one or more of the Banks, 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 Agent, the 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 Agent, the recipient of such payment shall, on demand, repay to the 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 Agent until the date the Agent recovers such amount at a rate per annum equal to the Federal Funds Rate for such day (when the recipient is a Bank) or equal to the rate of interest applicable to such Loan (when the recipient is the Borrower).

Non-Receipt of Funds by the Agent. Unless the Agent shall have been notified by a Bank Lender or the a Borrower (either one as appropriate being the “"Payor”") prior to the time upon date on which such Bank Lender is to make payment hereunder to the Agent of the proceeds of a Loan (including or a Revolving Loan used for the purpose of refunding a Swing Line Loan) to be made by it hereunder or the Borrower is to make a payment to the Agent for the account of one or more of the BanksAgent, as the case may be (either such payment being herein called the “a "Required Payment”"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Agent, the 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 Agent, the recipient of such payment (and, if such recipient is a Borrower and the Payor Lender fails to pay the amount thereof to the Agent forthwith upon demand), the Borrowers shall, on demand, repay to the Agent the amount made available to it together with interest thereon in respect of each day during for the period commencing on from the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate per annum equal to the average daily Federal Funds Rate for such day (when the recipient is a Bank) or equal to the rate of interest applicable to such Loan (when the recipient is the Borrower)period.

Non-Receipt of Funds by the Agent. Unless the applicable Borrower or a Lender, as the case may be, notifies the Agent shall have been notified by a Bank or the Borrower (the “Payor”) prior to the time upon date (or, in the case of a Lender with respect to a Revolving Floating Rate Advance under Section 2.11, prior to the time) on which such Bank it is scheduled to make payment to the Agent of (i) in the case of a Lender, the proceeds of a Loan or (including ii) in the case of a Revolving Loan used for the purpose of refunding a Swing Line Loan) to be made by it hereunder or the Borrower is to make Borrower, a payment of principal, interest or fees to the Agent for the account of one or more of the Banks, as the case may be (such payment being herein called the “Required Payment”), which notice shall be effective upon receiptLenders, that the Payor it does not intend to make the Required Payment to the Agentsuch payment, the Agent may assume that the Required Payment such payment has been made and made. The 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 such Borrower, if as the Payor case may be, has not in fact made the Required Payment such payment to the Agent, the recipient of such payment shall, on demanddemand by the Agent, repay to the Agent the amount so 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 Agent until the date the 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 day (when for the recipient is a Bank) or equal first three days and, thereafter, the interest rate applicable to the relevant Loan or (y) in the case of payment by a Borrower, the interest rate of interest applicable to such Loan (when the recipient is the Borrower)relevant Loan.

Non-Receipt of Funds by the Agent. Unless the Domestic Borrower, or a Lender, as the case may be, notifies the Applicable Agent shall have been notified by a Bank or the Borrower (the “Payor”) prior to the time upon date on which such Bank it is scheduled to make payment to the Applicable Agent of (i) in the case of a Lender, the proceeds of a Loan or (including a Revolving Loan used for ii) in the purpose case of refunding a Swing Line Loan) to be made by it hereunder or the Borrower is to make Borrower, a payment of principal, interest or fees to the Applicable Agent for the account of one the Lenders, that it does not intend to make such payment, the Applicable Agent may assume that such payment has been made. The Applicable Agent may, but shall not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or more of the Bankssuch Borrower, as the case may be (such payment being herein called the “Required Payment”)be, which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Agent, the 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 such payment to the Applicable Agent, the recipient of such payment shall, on demanddemand by the Applicable Agent, repay to the Applicable Agent the amount so 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 Applicable Agent until the date the Applicable 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 day (when for the recipient is a Bank) or equal first three days and, thereafter, the interest rate applicable to the relevant Loan or (y) in the case of payment by the Borrower, the interest rate of interest applicable to such Loan (when the recipient is the Borrower)relevant Loan.

Non-Receipt of Funds by the Agent. Unless the Agent shall have been notified by a Bank Lender or the Borrower Borrowers (either one as appropriate being the “"Payor”") prior to the time upon date on which such Bank Lender is to make payment hereunder to the Agent of the proceeds of a Loan (including a Revolving Loan used for the purpose of refunding a Swing Line Loan) to be made by it hereunder or the Borrower Borrowers is to make a payment to the Agent for the account of one or more of the BanksAgent, as the case may be (either such payment being herein called the “a "Required Payment”"), which notice shall be effective upon receipt, that the Payor does not intend to make the Required Payment to the Agent, the 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 Agent, the recipient of such payment (and, if such recipient is a Borrower and the Payor Lender fails to pay the amount thereof to the Agent forthwith upon demand) such Borrower shall, on demand, repay to the Agent the amount made available to it together with interest thereon in respect of each day during for the period commencing on from the date such amount was so made available by the Agent until the date the Agent recovers such amount at a rate per annum equal to the average daily Federal Funds Rate for such day (when the recipient is a Bank) or equal to the rate of interest applicable to such Loan (when the recipient is the Borrower)period.

Non-Receipt of Funds by the Agent. Unless the Borrower or any Borrowing Subsidiary or a Lender, as the case may be, notifies the Agent shall have been notified by a Bank or the Borrower (the “Payor”) prior to the time upon date on which such Bank it is scheduled to make payment to the Agent of (i) in the case of a Lender, the proceeds of a Loan or Advance or (including a Revolving Loan used for ii) in the purpose case of refunding a Swing Line Loan) to be made by it hereunder or the Borrower is to make or any Borrowing Subsidiary, a payment of principal, interest or Fees to the Agent for the account of one or more of the Banks, as the case may be (such payment being herein called the “Required Payment”), which notice shall be effective upon receiptLenders, that the Payor it does not intend to make the Required Payment to the Agentsuch payment, the Agent may assume that the Required Payment such payment has been made and made. The 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 the Borrower or any Borrowing Subsidiary, if as the Payor case may be, has not in fact made the Required Payment such payment to the Agent, the recipient of such payment shall, on demanddemand by the Agent, repay to the Agent the amount so 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 Agent until the date the Agent recovers such amount at a rate per annum equal to (i) in the case of payment due from a Lender, the Federal Funds Effective Rate for such day (when for the recipient is a Bank) or equal first three days and, thereafter, at the interest rate applicable to the relevant Loan, or (ii) in the case of payment due from the Borrower or any Borrowing Subsidiary, the interest rate of interest applicable to such Loan (when the recipient is the Borrower)relevant Loan.