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This excerpt taken from the CVS 8-K filed Mar 23, 2007. “Swing Line Participation
Amount”).
19 Each Lender shall
also
be liable for an amount equal to the product of its Commitment Percentage and
any amounts paid by the Borrower pursuant to this Section that are subsequently
rescinded or avoided, or must otherwise be restored or returned. Such
liabilities shall be unconditional and without regard to the occurrence of
any
Default or Event of Default or the compliance by the Borrower with any of its
obligations under the Loan Documents.
(d) In furtherance
of Section 2.2(c), upon
each receipt by a Lender of notice from the Administrative Agent, such Lender
shall promptly make available to the Administrative Agent for the account of
the
Swing Line Lender its Swing Line Participation Amount at the office of the
Administrative Agent specified in Section 11.2, in lawful money of the United
States and in immediately available funds. The Administrative Agent shall
deliver the payments made by each Lender pursuant to the immediately preceding
sentence to the Swing Line Lender promptly upon receipt thereof in like funds
as
received. Each Lender hereby indemnifies and agrees to hold harmless the
Administrative Agent and the Swing Line Lender from and against any and all
losses, liabilities (including liabilities for penalties), actions, suits,
judgments, demands, costs and expenses resulting from any failure on the part
of
such Lender to pay, or from any delay in paying, the Administrative Agent any
amount such Lender is required by notice from the Administrative Agent to pay
in
accordance with this Section (except in respect of losses, liabilities or other
obligations suffered by the Administrative Agent or the Swing Line Lender,
as
the case may be, resulting from the gross negligence or willful misconduct
of
the Administrative Agent or the Swing Line Lender, as the case may be), and
such
Lender shall pay interest to the Administrative Agent for the account of the
Swing Line Lender from the date such amount was due until paid in full, on
the
unpaid portion thereof, at a rate of interest per annum, whether before or
after
judgment, equal to (i) from the date such amount was due until the third day
therefrom, the Federal Funds Effective Rate, and (ii) thereafter, the Federal
Funds Effective Rate plus
2%, payable upon
demand by the Swing Line Lender. The Administrative Agent shall distribute
such
interest payments to the Swing Line Lender upon receipt thereof in like funds
as
received.
(e) Whenever the
Administrative Agent is
reimbursed by the Borrower for the account of the Swing Line Lender for any
payment in connection with Swing Line Loans and such payment relates to an
amount previously paid by a Lender pursuant to this Section, the Administrative
Agent will promptly remit such payment to such Lender.
2.3 |
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