Common use of Advances Automatic; Participations Clause in Contracts

Advances Automatic; Participations. (i) In the event that any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed automatically to constitute a Revolving Loan to the Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has occurred or is continuing and notwithstanding the Borrower’s failure to satisfy the conditions precedent set forth in Article IV. Each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation in accordance with this Agreement. The failure of any Revolving Lender to make available its Pro Rata Share of any such Revolving Loan under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that any Revolving Lender shall make When Agent makes any payment on or pursuant to any Letter of Credit Obligation or Eligible Trade L/C Obligation, such payment shall then be deemed automatically to constitute a Revolving Loan Swing Line Advance to the extent of Swing Line Availability (and if Swing Line Availability is zero, a Revolving Credit Advance) to Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has shall have occurred or is and be continuing and notwithstanding the Borrower’s failure to satisfy the conditions precedent set forth in Article IV. Each Section 2 of this Agreement, and, in the case of a Revolving Credit Advance, each Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this Agreement. The failure of any Revolving Lender to make available to Agent for Agent’s own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit or Eligible Trade L/C shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed automatically to constitute a US Revolving Loan to Credit Advance or a European Revolving Credit Advance (as the Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)case may be) under this Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has occurred or and is continuing and notwithstanding the any Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed automatically to constitute a Revolving Loan Credit Advance to the applicable Borrower (not taking into account under SECTION 1.1(a) of the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has shall have occurred or is and be continuing and notwithstanding the any Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each SECTION 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed automatically to constitute a Revolving Loan Credit Advance (which would extinguish the corresponding Letter of Credit Obligations) to Borrower under SECTION 1.1(a) of the Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has shall have occurred or is and be continuing and notwithstanding the Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each SECTION 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or ---------------------------------- any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed deemed, unless reimbursed on demand by Borrowers, automatically to constitute a Revolving Loan to Credit Advance under Section ------- 1.1(a) of the Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has ------ shall have occurred or is and be continuing and notwithstanding the any Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each Revolving Section 2, and each Lender --------- shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not 108 relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed automatically to constitute a Revolving Loan Credit Advance to the applicable Borrower (not taking into account under SECTION 1.1(a) of the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has shall have occurred or is and be continuing and notwithstanding the any Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each SECTION 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit ObligationObligation (including without limitation any Letter of Credit Obligation relating to a Letter of Credit issued pursuant to the Existing Credit Agreement), such payment shall then be deemed automatically to constitute a Revolving Loan to Credit Advance under Section 1.1(a) of the Borrower (not taking into account the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has occurred or and is continuing and notwithstanding the Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall then be deemed automatically to constitute a European Revolving Loan Credit Advance to the European Borrower (not taking into account under SECTION 1.1(a) of the limitation on the maximum amount of cash borrowings set forth in Section 1.01(a)) under this Agreement regardless of whether a Default or Event of Default has occurred or and is continuing and notwithstanding the any Borrower’s 's failure to satisfy the conditions precedent set forth in Article IV. Each SECTION 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share of each Letter of Credit Obligation thereof in accordance with this the Agreement. The failure of any Revolving Lender to make available to Agent for Agent's own account its Pro Rata Share of any such European Revolving Loan Credit Advance or payment by Agent under or in respect of a Letter of Credit shall not relieve any other Revolving Lender of its obligation hereunder to make available to Agent its Pro Rata Share thereof, but no Revolving Lender shall be responsible for the failure of any other Revolving Lender to make available such other Revolving Lender’s 's Pro Rata Share of any such payment.