DIRECT CREDITOR OF THE
BORROWER IN THE AMOUNT OF SUCH PARTICIPATION.
40
SECTION 4.02.
PRESUMPTION OF PAYMENT BY THE BORROWER.
UNLESS THE
ADMINISTRATIVE AGENT SHALL HAVE RECEIVED NOTICE FROM THE BORROWER PRIOR TO THE
DATE ON WHICH ANY PAYMENT IS DUE TO THE ADMINISTRATIVE AGENT FOR THE ACCOUNT OF
THE LENDERS OR THE ISSUING BANK THAT THE BORROWER WILL NOT MAKE SUCH PAYMENT,
THE ADMINISTRATIVE AGENT MAY ASSUME THAT THE BORROWER HAS MADE SUCH PAYMENT ON
SUCH DATE IN ACCORDANCE HEREWITH AND MAY, IN RELIANCE UPON SUCH ASSUMPTION,
DISTRIBUTE TO THE LENDERS OR THE ISSUING BANK, AS THE CASE MAY BE, THE AMOUNT
DUE.
IN SUCH EVENT, IF THE BORROWER HAS NOT IN FACT MADE SUCH PAYMENT, THEN
EACH OF THE LENDERS OR THE ISSUING BANK, AS THE CASE MAY BE, SEVERALLY AGREES TO
REPAY TO THE ADMINISTRATIVE AGENT FORTHWITH ON DEMAND THE AMOUNT SO DISTRIBUTED
TO SUCH LENDER OR ISSUING BANK 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 ADMINISTRATIVE AGENT, AT THE GREATER OF THE FEDERAL FUNDS
EFFECTIVE RATE AND A RATE DETERMINED BY THE ADMINISTRATIVE AGENT IN ACCORDANCE
WITH BANKING INDUSTRY RULES ON INTERBANK COMPENSATION.
SECTION 4.03.
CERTAIN DEDUCTIONS BY THE ADMINISTRATIVE AGENT.
IF ANY
LENDER SHALL FAIL TO MAKE ANY PAYMENT REQUIRED TO BE MADE BY IT PURSUANT TO
SECTION 2.05(A), SECTION 2.08(D), SECTION 2.08(E) OR SECTION 4.02 THEN THE
ADMINISTRATIVE AGENT MAY, IN ITS DISCRETION (NOTWITHSTANDING ANY CONTRARY
PROVISION HEREOF), APPLY ANY AMOUNTS THEREAFTER RECEIVED BY THE ADMINISTRATIVE
AGENT FOR THE ACCOUNT OF SUCH LENDER TO SATISFY SUCH LENDER'S OBLIGATIONS UNDER
SUCH SECTIONS UNTIL ALL SUCH UNSATISFIED OBLIGATIONS ARE FULLY PAID.
SECTION 4.04.
DISPOSITION OF PROCEEDS.
THE SECURITY INSTRUMENTS
CONTAIN AN ASSIGNMENT BY THE BORROWER AND/OR THE GUARANTORS UNTO AND IN FAVOR OF
THE ADMINISTRATIVE AGENT FOR THE BENEFIT OF THE LENDERS OF ALL OF THE BORROWER'S
OR EACH GUARANTOR'S INTEREST IN AND TO PRODUCTION AND ALL PROCEEDS ATTRIBUTABLE
THERETO WHICH MAY BE PRODUCED FROM OR ALLOCATED TO THE MORTGAGED PROPERTY.
THE
SECURITY INSTRUMENTS FURTHER PROVIDE IN GENERAL FOR THE APPLICATION OF SUCH
PROCEEDS TO THE SATISFACTION OF THE INDEBTEDNESS AND OTHER OBLIGATIONS DESCRIBED
THEREIN AND SECURED THEREBY.
NOTWITHSTANDING THE ASSIGNMENT CONTAINED IN SUCH
SECURITY INSTRUMENTS, UNTIL THE OCCURRENCE OF AN EVENT OF DEFAULT, (A) THE
ADMINISTRATIVE AGENT AND THE LENDERS AGREE THAT THEY WILL NEITHER NOTIFY THE
PURCHASER OR PURCHASERS OF SUCH PRODUCTION NOR TAKE ANY OTHER ACTION TO CAUSE
SUCH PROCEEDS TO BE REMITTED TO THE ADMINISTRATIVE AGENT OR THE LENDERS, BUT THE
LENDERS WILL INSTEAD PERMIT SUCH PROCEEDS TO BE PAID TO THE BORROWER AND ITS
SUBSIDIARIES AND (B) THE LENDERS HEREBY AUTHORIZE THE ADMINISTRATIVE AGENT TO
TAKE SUCH ACTIONS AS MAY BE NECESSARY TO CAUSE SUCH PROCEEDS TO BE PAID TO THE
BORROWER AND/OR SUCH SUBSIDIARIES.
ARTICLE V
Increased Costs; Break Funding Payments; Taxes; Illegality
SECTION 5.01.
INCREASED COSTS.
(A)
EURODOLLAR CHANGES IN LAW.
IF ANY CHANGE IN LAW SHALL:
(I)
IMPOSE,