Common use of Advances by Agent Clause in Contracts

Advances by Agent. Unless the officers of the Agent responsible for administering this Credit Agreement shall have been notified in writing by a Bank prior to the date of any Disbursement that such Bank will not make the amount which would constitute its pro rata share of such Disbursement available to the Agent on the date of such Loan, the Agent may (but shall not be required to) assume that such Bank has made such amount available to the Agent on the date of such Loan and the Agent, in reliance upon such assumption, may make available to the Borrower a corresponding amount. If such pro rata share is made available to the Agent on a date after the date of such Disbursement, such Bank shall pay to the Agent on demand an amount equal to the product of (i) during each day included in the period referred to in (iii) below, the Federal Funds Rate during each day included in such period, multiplied by (ii) the amount of such Bank's pro rata share of such Disbursement, multiplied by (iii) a fraction, the numerator of which is the number of days that elapse from and including the date of such Loan to the date on which such pro rata share of such Disbursement shall become immediately available to the Agent and the denominator of which is 360. A statement of the Agent submitted to such Bank with respect to any amounts owing under this Section 9.8 shall be prima facie evidence as to the amount owed by such Bank to the Agent. If such Bank's pro rata share is not in fact made available to the Agent by such Bank within three (3) Business Days of such borrowing date, the Agent shall be entitled to recover such amount with interest thereon at the rate per annum equal to the Base Rate during such period, on demand, from such Bank.

Advances by Agent. Unless The Agent may (unless earlier notified to the officers of the Agent responsible for administering this Credit Agreement shall have been notified in writing contrary by a any Bank by 12:00 noon (New York time) one (1) Business Day prior to any Drawdown Date) assume that each Bank has made available (or will before the date of any Disbursement that such Bank will not make the amount which would constitute its pro rata share end of such Disbursement available Business Day make available) to the Agent on the date amount of such LoanBank's Line Percentage with respect to the Loans to be made on such Drawdown Date, and the Agent may (but shall not be required to) assume that such Bank has made such amount available to the Agent on the date of such Loan and the Agent), in reliance upon such assumption, may make available to the Borrower a corresponding amount. If any Bank makes such pro rata share is made amount available to the Agent on a date after the date of such DisbursementDrawdown Date, such Bank shall pay to the Agent on demand an amount equal to the product of (i) during each day included in the average, computed for the period referred to in clause (iii) below, of the Federal Funds Rate weighted average annual interest rate paid by the Agent for federal funds acquired by the Agent, during each day included in such period, multiplied by period times (ii) the amount of equal to such Bank's pro rata share Line Percentage of such DisbursementLoan, multiplied by times (iii) a fraction, the numerator of which is the number of days that elapse from and including the date of such Loan Drawdown Date to but not including the date on which the amount equal to such pro rata share Bank's Line Percentage of such Disbursement Loans shall become immediately available to the Agent Agent, and the denominator of which is 360365. A statement of the Agent submitted to such Bank with respect to any amounts owing under this Section 9.8 paragraph shall be prima facie evidence as of the amount due and owing to the amount owed Agent by such Bank to the AgentBank. If such Bank's pro rata share amount is not in fact made available to the Agent by such Bank within three (3) Business Days of such borrowing dateDrawdown Date, the Agent shall be entitled to recover such amount from the Borrower, with interest thereon at the applicable rate per annum equal to the Base Rate during such period, on demand, from such Bankannum.

Advances by Agent. Unless The Agent may, unless notified to the officers of the Agent responsible for administering this Credit Agreement shall have been notified in writing contrary by a any Bank prior to the date of any Disbursement that such Bank will not make the amount which would constitute its pro rata share of such Disbursement available to the Agent on the date of such Loana Drawdown Date, the Agent may (but shall not be required to) assume that such Bank has made such amount available to the Agent on such Drawdown Date the date amount of such Loan Bank's Commitment Percentage of the Loans requested to be made on such Drawdown Date, and the AgentAgent may (but it shall not be required to), in reliance upon such assumption, may make available to the Borrower a corresponding amount. If such pro rata share is made any Bank makes available to the Agent such amount on a date after the date of such DisbursementDrawdown Date, such Bank shall pay to the Agent on demand an amount equal to the product of (i) during each day included in the average computed for the period referred to in clause (iii) below, of the Federal Funds Rate weighted average interest rate paid by the Agent for federal funds acquired by the Agent during each day included in such period, multiplied by TIMES (ii) the amount of such Bank's pro rata share Commitment Percentage of such DisbursementLoans, multiplied by TIMES (iii) a fraction, the numerator of which is the number of days that elapse from and including the date of such Loan Drawdown Date to the date on which such pro rata share the amount of such Disbursement Bank's Commitment Percentage of such Loans shall become immediately available to the Agent Agent, and the denominator of which is 360365. A statement of the Agent submitted to such Bank with respect to any amounts owing under this Section 9.8 paragraph shall be prima facie PRIMA FACIE evidence as of the amount due and owing to the amount owed Agent by such Bank to the AgentBank. If the amount of such Bank's pro rata share Commitment Percentage of such Loans is not in fact made available to the Agent by such Bank within three (3) Business Days of such borrowing date, the Agent shall be entitled to recover such amount with interest thereon at the rate per annum equal to the Base Rate during such period, on demand, from such Bank.three

Advances by Agent. Unless the officers of the Agent responsible for administering this Credit Agreement shall have been notified in writing by a Bank prior to the date of any Disbursement that such Bank will not make the amount which would constitute its pro rata share of such Disbursement available to the Agent on the date of such Loan, the Agent may (but shall not be required to) assume that such Bank has made such amount available to the Agent on the date of such Loan and the Agent, in reliance upon such assumption, may make available to the Borrower a corresponding amount. If such pro rata share is made available to the Agent on a date after the date of such Disbursement, such Bank shall pay to the Agent on demand an amount equal to the product of (i) during each day included in the period referred to in (iii) below, the Federal Funds Rate during each day included in such period, multiplied by (ii) the amount of such Bank's pro rata share of such Disbursement, multiplied by (iii) a fraction, the numerator of which is the number of days that elapse from and including the date of such Loan to the date on which such pro rata share of such Disbursement shall become immediately available to the Agent and the denominator of which is 360. A statement of the Agent submitted to such Bank with respect to any amounts owing under this Section 9.8 shall be prima facie evidence as to the amount owed by such Bank to the Agent. If such Bank's pro rata share is not in fact made available to the Agent by such Bank within three (3) Business Days of such borrowing dateBorrowing Date, the Agent shall be entitled to recover such amount with interest thereon at the rate per annum equal to the Base Rate during such period, on demand, from such Bank.