Common use of Payments to the Administrative Agent Clause in Contracts

Payments to the Administrative Agent. A payment by the Borrower to the Administrative Agent hereunder or any of the other Loan Documents for the account of any Lender shall constitute a payment to such Lender. The Administrative Agent agrees promptly to distribute to each Lender such Lender’s pro rata share of payments received by the Administrative Agent for the account of the Lenders except as otherwise expressly provided herein or in any of the other Loan Documents.

Payments to the Administrative Agent. A payment by the Borrower to the Administrative Agent hereunder or any of the other Loan Documents for the account of any Lender or the Issuing Bank shall constitute a payment to such LenderLender or the Issuing Bank, as the case may be. The Administrative Agent agrees promptly to distribute to each Lender and the Issuing Bank such Lender’s and the Issuing Bank’s pro rata share of payments received by the Administrative Agent for the account of the Lenders or the Issuing Bank, as the case may be, except as otherwise expressly provided herein or in any of the other Loan Documents.