Permitted Assumptions by Agent Sample Clauses

The 'Permitted Assumptions by Agent' clause defines the specific assumptions an agent is allowed to make when performing their duties under an agreement. Typically, this clause outlines the factual or procedural matters the agent can presume to be true without independent verification, such as the accuracy of information provided by the principal or the authority of counterparties. By clearly stating these permitted assumptions, the clause helps streamline the agent's responsibilities and reduces the risk of liability for relying on certain representations, ultimately ensuring efficiency and clarity in the agent's decision-making process.
Permitted Assumptions by Agent. (a) Unless the Agent shall have received notice from a Lender prior to 12:00 noon (Philadelphia time) on the date of any RC Loan that such Lender will not make available to the Agent such Lender's ratable portion of such Loan, the Agent may assume that such Lender has made or will make such portion available to the Agent on the date of such Loan. The Agent may in its sole discretion and in reliance upon such assumption make available to the Borrower on such date a corresponding amount. If a Lender has not or does not make available to the Agent the full amount on the day of the advance, the Agent may advance such corresponding amount and such Lender agrees to repay to the Agent on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid by such Lender to the Agent at the Federal Funds Rate provided, however, that if such Lender shall fail to make available to the Agent -------- the full amount of such Lender's share of the advance within two (2) Business Days of the date it shall have received notice from the Agent that its share of the advance has not been received, interest shall accrue (from such second Business Day after notice is received) at a rate equal to the rate payable by the Borrower on the corresponding Loan. (b) If such Lender shall reimburse the Agent for an amount advanced by the Agent pursuant to the preceding paragraph (a), such amount shall constitute such Lender's portion of the applicable Loans for purposes of this Agreement. If such Lender does not reimburse such corresponding amount immediately upon the Agent's demand therefor, interest shall be payable as set forth in paragraph (a). The failure of any Lender to fund its portion of any Loans shall not relieve any other Lender of its obligation, if any, hereunder to fund its respective portion of the Loans on the funding date, but no Lender shall be responsible for any such failure of any other Lender. (c) If the Agent advances any funds pursuant to this Subsection 2.3.5 in respect of another Lender's Commitment and whether or not the relevant Lender thereafter reimburses the Agent, any contractual interest payable on such amount by the Borrower hereunder for the period commencing on the date such amount was made available by the Agent until the date the relevant Lender reimbursed the Agent shall be payable to the Agent and not such Lender and, in addition, such Lender...
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Permitted Assumptions by Agent. Unless the Agent shall have received notice from a Lender prior to 12:30 p.m. Philadelphia time on the requested Funding Date of any Loan that such Lender will not make available to the Agent such Lender's Pro Rata Share of such Loan, the Agent may assume that such Lender has made or will make its Pro Rata Share available to the Agent on the requested Funding Date of such Loan. The Agent may in its discretion and in reliance upon such assumption make available to the Borrower on such date a corresponding amount.
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Permitted Assumptions by Agent. (a) Unless the Agent shall have received notice from a Lender prior to 12:00 noon (Philadelphia time) on the date of any Loan that such Lender will not make available to the Agent such Lender's ratable portion of such Loan, the Agent may assume that such Lender has made or will make such portion available to the Agent on the date of such Loan. The Agent may in its sole discretion and in reliance upon such assumption make available to the Borrower on such date a corresponding amount. If a Lender has not or does not make available to the Agent the full amount on the day of the advance, the Agent may advance such corresponding amount and such Lender agrees to repay to the Agent on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid by such Lender to the Agent at the Federal Funds Rate provided, however, that if such Lender shall fail to make available to the Agent the full amount of such Lender's share of the advance within two (2) Business Days of the date it shall have received notice from the Agent that its share of the advance has not been received, interest shall accrue (from such second Business Day after notice is received) at a rate equal to the rate payable by the Borrower on the corresponding Loan. (b) If such Lender shall reimburse the Agent for an amount advanced by the Agent pursuant to the preceding paragraph (a), such amount shall constitute such Lender's portion of the applicable Loans for purposes of this Agreement. If such Lender does not reimburse such corresponding amount immediately upon the Agent's demand therefor, the Agent shall notify the Borrower and the Borrower shall immediately pay such corresponding amount to the Agent, with interest at the applicable rate hereunder. The failure of any Lender to fund its portion of any Loans shall not relieve any other Lender of its obligation, if any, hereunder to fund its respective portion of the Loans on the funding date, but no Lender shall be responsible for any such failure of any other Lender. (c) If the Agent advances any funds pursuant to this Subsection 2.4.5 in respect of another Lender's Commitment and whether or not the relevant Lender thereafter reimburses the Agent, any contractual interest payable on such amount by the Borrower hereunder for the period commencing on the date such amount was made available by the Agent until the date the relevant Lender reimbu...
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Permitted Assumptions by Agent. (A) of the Loan Agreement shall be and is hereby amended to read, in its entirety, as follows:
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Related to Permitted Assumptions by Agent

  • Definitions and Assumptions For purposes of this Agreement: (i) the terms “excess parachute payment” and “parachute payments” shall have the meanings assigned to them in Section 280G of the Code, and such “parachute payments” shall be valued as provided therein; (ii) present value shall be calculated in accordance with Section 280G(d)(4) of the Code; (iii) the term “Base Period Income” means an amount equal to Executive’s “annualized includible compensation for the base period” as defined in Section 280G(d)(1) of the Code; (iv) “Agreement Benefits” shall mean the payments and benefits to be paid or provided pursuant to this Agreement; (v) for purposes of the opinion of the National Advisor, the value of any noncash benefits or any deferred payment or benefit shall be determined by the Company’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code, which determination shall be evidenced in a certificate of such auditors addressed to the Company and Executive; and (vi) Executive shall be deemed to pay federal income tax and employment taxes at the highest marginal rate of federal income and employment taxation, and state and local income taxes at the highest marginal rate of taxation in the state or locality of Executive’s domicile (determined in both cases in the calendar year in which the Date of Termination occurs or the notice described in Section 4.5(b) above is given, whichever is earlier), net of the maximum reduction in federal income taxes that may be obtained from the deduction of such state and local taxes.

  • Acceptance and Assumption Assignee hereby accepts the foregoing assignment and further hereby assumes and agrees to perform, from and after January 1, 2002, all duties, obligations and responsibilities of the property manager arising under the Agreement.

  • Payoffs and Assumptions The Seller shall provide to the Purchaser, or its designee, copies of all assumption and payoff statements generated by the Seller on the related Mortgage Loans from the related Cut-off Date to the related Transfer Date.

  • Assignment and Assumption of Contracts Two (2) counterpart originals of the Assignment and Assumption of Contracts, duly executed by Buyer.

  • Assignment and Assumption Consent Effective as of the First Amendment Effective Date, for agreed consideration, ▇▇▇ hereby irrevocably sells and assigns to MBL, and MBL hereby irrevocably purchases and assumes all rights and obligations in its capacity as Lender under the LC Reimbursement Agreement and other Credit Documents, including, without limitation, all of MBL’s rights and obligations with respect to the Collateral and Intercreditor Agreement and the Security Documents (as defined in the Collateral and Intercreditor Agreement, and such Security Documents together with the Collateral and Intercreditor Agreement are referred to herein as the “Security Documents”) (the “Lender Assignment”). Effective as of the First Amendment Effective Date and in accordance with Section 7.9 of the LC Reimbursement Agreement, the Account Party hereby consents to the Lender Assignment.