Common use of Payments by the Agent Clause in Contracts

Payments by the Agent. The provisions of this Section 7.06 shall apply to any payment made by the Agent to the Lenders under this Agreement: (a) The Agent shall have no obligation to make any payment to any Lender until a corresponding amount in respect of that payment has been received by the Agent from the Borrower; if the Agent receives any amount less than the full amount of any payment to be made by the Borrower under this Agreement, the Agent shall have no obligation to remit any amounts to the Lenders in excess of the amount actually received by the Agent. (b) If any Lender advances more or less than its Applicable Percentage of the Credit Facility, then such Lender's entitlement to a share of any payment on account of the Advance shall be increased or decreased, as the case may be, in proportion to the amount actually advanced by such Lender. (c) The Agent, acting reasonably and in good faith after consultation with the Lenders in the case of any dispute, shall determine in all cases the amount of all payments to which each Lender is entitled and that determination shall be binding and conclusive, absent manifest error. (d) On request, the Agent shall deliver to the Lenders a statement detailing any of the payments made by it to the Lenders under this Agreement. (e) Unless the Borrower provides notice to the Agent, in writing, not less than one Business Day before the date on which any payment hereunder is due to the Agent for the account of the Lenders, the Agent may assume that the Borrower will be making its payment as required hereunder and may, in reliance upon such assumption, distribute such amount to the Lenders. If the Agent does distribute funds to the Lenders in reliance on such assumption and the Borrower does not, in fact, make such payment to the Agent on the relevant date, then each Lender severally agrees to repay to the Agent, immediately on demand, the amount distributed to the Lender, together with interest on such amount at a rate per annum determined by the Agent in accordance with prevailing banking industry rules on interbank settlements.

Payments by the Agent. The (1) For greater certainty, the following provisions of this Section 7.06 shall apply to any payment and all payments made by the Agent to the Lenders under this Agreementhereunder: (a) The the Agent shall have be under no obligation to make any payment (whether in respect of principal, interest, fees or otherwise) to any Lender until a corresponding an amount in respect of that such payment has been received by the Agent from the Borrower; ; (b) if the Agent receives any amount less than the full amount of any payment to be made of principal, interest, fees or other amount owing by the Borrower under this Agreement, then subject to Section 8.02 the Agent shall have no obligation to remit to each Lender any amounts to the Lenders in excess amount other than such Lender's Proportionate Share of that amount which is the amount actually received by the Agent.; (bc) If if any Lender advances more or less than its Applicable Percentage Proportionate Share of the Credit FacilityFacilities, then such Lender's entitlement to a share of any such payment on account of the Advance shall be increased or decreasedreduced, as the case may be, in proportion to the amount actually advanced by such Lender.; (cd) The Agent, the Agent acting reasonably and in good faith shall, after consultation with the Lenders in the case of any dispute, shall determine in all cases the amount of all payments to which each Lender is entitled and that such determination shall shall, in the absence of manifest error, be binding and conclusive, absent manifest error.; (de) On the Agent shall be entitled to round any Lender's Proportionate Share of mandatory, voluntary or scheduled repayments to the nearest $1,000; (f) upon request, the Agent shall deliver to the Lenders a statement detailing any of the payments made by it to the Lenders under referred to herein; and (g) all payments by the Agent to a Lender hereunder shall be made to such Lender at its address set forth in the signature pages on this AgreementAgreement or on the applicable Assignment and Assumption unless notice to the contrary is received by the Agent from such Lender. (e2) Unless the Agent has actual knowledge that the Borrower provides notice to the Agent, in writing, has not less than one Business Day before the date on which any made or will not make a payment hereunder is due to the Agent for value on the account date in respect of which the LendersBorrower has notified the Agent that the payment will be made and except to the extent that the Agent has received notice under Section 8.02, the Agent may shall be entitled to assume that such payment has been or will be received from the Borrower will when due and the Agent may (but shall not be making its payment as required hereunder and mayobliged to), in reliance upon such assumption, distribute such amount to pay the LendersLenders corresponding amounts. If the Agent does distribute funds to the Lenders in reliance on such assumption and payment by the Borrower does not, is in fact, make such payment to fact not received by the Agent on the relevant date, then each Lender severally agrees to repay required date and the Agent has made available corresponding amounts to the Agent, immediately on demandLenders, the amount distributed to Borrower shall, without limiting its other obligations under this Agreement, indemnify the LenderAgent against any and all liabilities, together with interest obligations, losses (other than loss of profit), damages, penalties, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on such amount at a rate per annum determined or incurred by the Agent as a result. A certificate of the Agent with respect to any amount owing by the Borrower under this Section shall be prima facie evidence of the amount owing in accordance with prevailing banking industry rules on interbank settlementsthe absence of manifest error.

Payments by the Agent. The provisions of this Section 7.06 7.03 shall apply to any payment made by the Agent to the Lenders under this Agreement: (a) The Agent shall have no obligation to make any payment to any Lender until a corresponding amount in respect of that payment has been received by the Agent from the Borrower; if the Agent receives any amount less than the full amount of any payment to be made by the Borrower under this Agreement, the Agent shall have no obligation to remit any amounts to the Lenders in excess of the amount actually received by the Agent. (b) If any Lender advances more or less than its Applicable Percentage of the Credit Facility, then such Lender's entitlement to a share of any payment on account of the Advance shall be increased or decreased, as the case may be, in proportion to the amount actually advanced by such Lender. (c) The Agent, acting reasonably and in good faith after consultation with the Lenders in the case of any dispute, shall determine in all cases the amount of all payments to which each Lender is entitled and that determination shall be binding and conclusive, absent manifest error. (d) On request, the Agent shall deliver to the Lenders a statement detailing any of the payments made by it to the Lenders under this Agreement. (e) Unless the Borrower provides notice to the Agent, in writing, not less than one Business Day before the date on which any payment hereunder is due to the Agent for the account of the Lenders, the Agent may assume that the Borrower will be making its payment as required hereunder and may, in reliance upon such assumption, distribute such amount to the Lenders. If the Agent does distribute funds to the Lenders in reliance on such assumption and the Borrower does not, in fact, make such payment to the Agent on the relevant date, then each Lender severally agrees to repay to the Agent, immediately on demand, the amount distributed to the Lender, together with interest on such amount at a rate per annum determined by the Agent in accordance with prevailing banking industry rules on interbank settlements.

Payments by the Agent. The provisions of this Section 7.06 7.03 shall apply to any payment made by the Agent to the Lenders under this Agreement: (a) The Agent shall have no obligation to make any payment to any Lender until a corresponding amount in respect of that payment has been received by the Agent from the Borrower; if the Agent receives any amount less than the full amount of any payment to be made by the Borrower under this Agreement, the Agent shall have no obligation to remit any amounts to the Lenders in excess of the amount actually received by the Agent. (b) If any Lender advances more or less than its Applicable Percentage of the Credit FacilityLoan, then such LenderL▇▇▇▇▇'s entitlement to a share of any payment on account of the Advance shall be increased or decreased, as the case may be, in proportion to the amount actually advanced by such Lender. (c) The Agent, acting reasonably and in good faith after consultation with the Lenders in the case of any dispute, shall determine in all cases the amount of all payments to which each Lender is entitled and that determination shall be binding and conclusive, absent manifest error. (d) On request, the Agent shall deliver to the Lenders a statement detailing any of the payments made by it to the Lenders under this Agreement. (e) Unless the Borrower provides notice to the Agent, in writing, not less than one Business Day before the date on which any payment hereunder is due to the Agent for the account of the Lenders, the Agent may assume that the Borrower will be making its payment as required hereunder and may, in reliance upon such assumption, distribute such amount to the Lenders. If the Agent does distribute funds to the Lenders in reliance on such assumption and the Borrower does not, in fact, make such payment to the Agent on the relevant date, then each Lender severally agrees to repay to the Agent, immediately on demand, the amount distributed to the Lender, together with interest on such amount at a rate per annum determined by the Agent in accordance with prevailing banking industry rules on interbank settlements.

Payments by the Agent. The provisions of this Section 7.06 shall apply to any payment made by the Agent to the Lenders under this Agreement: (a) The Agent shall have no obligation to make any payment to any Lender until a corresponding amount in respect of that payment has been received by the Agent from the Borrower; if the Agent receives any amount less than the full amount of any payment to be made by the Borrower under this Agreement, the Agent shall have no obligation to remit any amounts to the Lenders in excess of the amount actually received by the Agent. (b) If any Lender advances more or less than its Applicable Percentage of the Credit Facility, then such Lender's ’s entitlement to a share of any payment on account of the Advance shall be increased or decreased, as the case may be, in proportion to the amount actually advanced by such Lender. (c) The Agent, acting reasonably and in good faith after consultation with the Lenders in the case of any dispute, shall determine in all cases the amount of all payments to which each Lender is entitled and that determination shall be binding and conclusive, absent manifest error. (d) On request, the Agent shall deliver to the Lenders a statement detailing any of the payments made by it to the Lenders under this Agreement. (e) Unless the Borrower provides notice to the Agent, in writing, not less than one Business Day before the date on which any payment hereunder is due to the Agent for the account of the Lenders, the Agent may assume that the Borrower will be making its payment as required hereunder and may, in reliance upon such assumption, distribute such amount to the Lenders. If the Agent does distribute funds to the Lenders in reliance on such assumption and the Borrower does not, in fact, make such payment to the Agent on the relevant date, then each Lender severally agrees to repay to the Agent, immediately on demand, the amount distributed to the Lender, together with interest on such amount at a rate per annum determined by the Agent in accordance with prevailing banking industry rules on interbank settlements.