Common use of Distribution of Interest Payments by Issuing Lender Clause in Contracts

Distribution of Interest Payments by Issuing Lender. Promptly upon receipt by Issuing Lender of any payment of interest pursuant to Section 3.3D(i) with respect to a drawing under a Letter of Credit issued by it, in the event Issuing Lender shall have been reimbursed by other Lenders pursuant to Section 3.3C(i) for all or any portion of such drawing, Issuing Lender shall distribute to each other Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such drawing such other Lender’s proportionate share (based on the amount reimbursed to the Issuing Lender pursuant to Section 3.3C(i)) of any interest received by Issuing Lender in respect of that portion of such drawing so reimbursed by other Lenders for the period from the date on which Issuing Lender was so reimbursed by other Lenders to and including the date on which such portion of such drawing is reimbursed by Borrower. Any such distribution shall be made by Issuing Lender within five (5) Business Days of its receipt of such payment from Borrower to a Lender at its primary address set forth below its name on the appropriate signature page hereof or at such other address as such Lender may request.

Distribution of Interest Payments by Issuing Lender. Promptly upon receipt by Issuing Lender of any payment of interest pursuant to Section 3.3D(i) with respect to a drawing under a Letter of Credit issued by it, in the event Issuing Lender shall have been reimbursed by other Lenders pursuant to Section 3.3C(i) for all or any portion of such drawing, Issuing Lender shall distribute to each other Lender which has paid all amounts payable by it under Section 3.3C(i) with respect to such drawing such other Lender’s 's proportionate share (based on the amount reimbursed to the Issuing Lender pursuant to Section 3.3C(i)) of any interest received by Issuing Lender in respect of that portion of such drawing so reimbursed by other Lenders for the period from the date on which Issuing Lender was so reimbursed by other Lenders to and including the date on which such portion of such drawing is reimbursed by Borrower. Any such distribution shall be made by Issuing Lender within five (5) Business Days of its receipt of such payment from Borrower to a Lender at its primary address set forth below its name on the appropriate signature page hereof or at such other address as such Lender may request.