Common use of Payments by Agent Clause in Contracts

Payments by Agent. (1) For greater certainty, the following provisions will apply to any and all payments made by the Agent to the Lenders hereunder: (a) the Agent will be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the Borrower; (b) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by the Borrower under this Agreement, then the Agent will have no obligation to remit to each Lender any amount other than such Lender’s Proportionate Share of that amount which is the amount actually received by the Agent; (c) if any Lender advances more or less than its Proportionate Share of an Advance, such Lender’s entitlement to such payment will be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d) the Agent acting reasonably and in good faith will, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination will, in the absence of manifest error, be binding and conclusive; (e) upon request, the Agent will deliver a statement detailing any of the payments to the Lenders referred to herein; and (f) all payments by the Agent to a Lender hereunder will be made to such Lender at its address set forth in the signature pages on this Agreement or on the applicable Assignment Agreement unless notice to the contrary is received by the Agent from such Lender.

Payments by Agent. (1) 4.27.1 For greater certainty, the following provisions will shall apply to any and all payments made by the Agent to the Lenders hereunder: : (a) the Agent will shall be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until an amount in respect of such payment has been received by the Agent from the Borrower; ; (b) if the Agent receives less than the full amount of any payment of principal, interest, fees or other amount owing by the Borrower under this Agreement, then the Agent will shall have no obligation to remit to each Lender any amount other than such Lender’s Proportionate Share Applicable Percentage of that amount which is the amount actually received by the Agent; (c) if 4.27.2 Unless the Agent has received notice from the Borrower before the date on which any payment is due to the Agent for the account of any Lender advances more or less than its Proportionate Share of an Advance, that the Borrower will not make such Lender’s entitlement to such payment will be increased or reduced, as the case may be, in proportion to the amount actually advanced by such Lender; (d) the Agent acting reasonably and in good faith will, after consultation with the Lenders in the case of any dispute, determine in all cases the amount of all payments to which each Lender is entitled and such determination will, in the absence of manifest error, be binding and conclusive; (e) upon requestpayment, the Agent will deliver a statement detailing any may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute the amount due to the Lenders. In that event, if the Borrower has not in fact made such payment, then each of the payments Lenders severally agrees to repay to the Lenders referred Agent forthwith on demand the amount so distributed to herein; and (f) all payments such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent, at a rate determined by the Agent to a Lender hereunder will be made to such Lender at its address set forth in the signature pages accordance with prevailing banking industry practice on this Agreement or on the applicable Assignment Agreement unless notice to the contrary is received by the Agent from such Lenderinterbank compensation.