Common use of Failure to Make Funds Available Clause in Contracts

Failure to Make Funds Available. The Agent may, unless ------------------------------- notified to the contrary by any Settling Bank prior to a Settlement Date, assume that such Settling Bank has made or will make available to the Agent on such Settlement Date the amount of such Settling Bank's Settlement Amount, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the Borrower a corresponding amount. If any Settling Bank makes available to the Agent such amount on a date after such Settlement Date, such Settling Bank shall pay to the Agent on demand an amount equal to the product of (i) the average computed for the period referred to in clause (iii)

Failure to Make Funds Available. The Agent may, unless ------------------------------- notified to the contrary by any Settling Bank Lender prior to a Settlement Date, assume that such Settling Bank Lender has made or will make available to the Agent on such Settlement Date the amount of such Settling BankLender's Settlement Amount, and the Agent may (but it shall not be required to), in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. If any Settling Bank Lender makes available to the Agent such amount on a date after such Settlement Date, such Settling Bank Lender shall pay to the Agent on demand an amount equal to the product of (i) the average computed for the period referred to in clause (iii)) below, of the weighted average interest rate paid by the Agent for federal funds acquired by the Agent during each day included in such 36 -29-