Common use of Distributions by Agent Clause in Contracts

Distributions by Agent. Unless Agent receives notice from ---------------------- Borrower prior to the date on which any payment is due to the Lenders that Borrower will not make such payment in full as and when required, Agent may assume that Borrower has made such payment in full to Agent on such date in immediately available funds and Agent may (but shall not be so required, unless Agent actually receives such payment by 11:00 a.m. (San Francisco time), on such date), in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower has not made such payment in full to Agent, each Lender shall repay to Agent, promptly on demand, such amount distributed to such Lender (provided, however, that if such Lender shall not make such funds available within one (1) Business Day of Agent's demand, interest shall accrue on such funds and shall be payable by such Lender at the Base Rate for each day from and after the date such amount is distributed to such Lender until (but not including) the date repaid).