Common use of Advances Automatic; Participations Clause in Contracts

Advances Automatic; Participations. In the event that any L/C Issuer shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Revolving Credit Advance to Borrower under Section 1.1(a) regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Revolving Credit Advance or payment by Administrative 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 Administrative 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 L/C Issuer Tranche A Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Tranche A Revolving Credit Advance to Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has shall have occurred and is be continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Tranche A Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Tranche A Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Tranche A Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of Credit shall not relieve any other Tranche A Revolving Lender of its obligation hereunder to make available to Administrative Agent its Pro Rata Share thereof, but no Tranche A Revolving Lender shall be responsible for the failure of any other Tranche A Revolving Lender to make available such other Tranche A Revolving Lender's Pro Rata Share of any such payment.

Advances Automatic; Participations. In the event that Agent or any L/C Issuer Tranche A Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Tranche A Revolving Credit Advance to Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Tranche A Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Tranche A Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Tranche A Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of Credit shall not relieve any other Tranche A Revolving Lender of its obligation hereunder to make available to Administrative Agent its Pro Rata Share thereof, but no Tranche A Revolving Lender shall be responsible for the failure of any other Tranche A Revolving Lender to make available such other Tranche A Revolving Lender's Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any L/C Issuer Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has shall have occurred and is be continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of 152 Credit (other than the Litigation L/C) shall not relieve any other Revolving Lender of its obligation hereunder to make available to Administrative 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. In the event that Agent or any L/C Issuer Tranche A Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Tranche A Revolving Credit Advance to the applicable Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding any Borrower's ’s failure to satisfy the conditions precedent set forth in Section 2, and each Tranche A Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Tranche A Revolving Lender to make available to Administrative Agent for Administrative Agent's ’s own account its Pro Rata Share of any such Tranche A Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of Credit shall not relieve any other Tranche A Revolving Lender of its obligation hereunder to make available to Administrative Agent its Pro Rata Share thereof, but no Tranche A Revolving Lender shall be responsible for the failure of any other Tranche A Revolving Lender to make available such other Tranche A Revolving Lender's ’s Pro Rata Share of any such payment.

Advances Automatic; Participations. (i) In the event that Agent or any L/C Issuer Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has shall have occurred and is be continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of Credit (other than the Litigation L/C) shall not relieve any other Revolving Lender of its obligation hereunder to make available to Administrative Agent its Pro Rata Share thereof, but no Revolving Lender shall 109 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. In the event that Administrative Agent or any L/C Issuer Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has shall have occurred and is be continuing and notwithstanding any Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Revolving Credit Advance or payment by Administrative 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 Administrative 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. In the event that Agent or any L/C Issuer Tranche A Revolving Lender shall make any payment on or pursuant to any Letter of Credit Obligation, such payment shall be deemed to be drawn under Revolving Loan Letters of Credit for so long as there are any Revolving Loan Letters of Credit and thereafter shall be deemed to be drafts drawn under Synthetic Loan Letters of Credit, and in either case shall then be deemed automatically to constitute a Tranche A Revolving Credit Advance to Borrower under Section 1.1(a) of the Agreement regardless of whether a Default or Event of Default has shall have occurred and is be continuing and notwithstanding Borrower's failure to satisfy the conditions precedent set forth in Section 2, and each Tranche A Revolving Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement. The failure of any Tranche A Revolving Lender to make available to Administrative Agent for Administrative Agent's own account its Pro Rata Share of any such Tranche A Revolving Credit Advance or payment by Administrative Agent under or in respect of a Letter of Credit shall not relieve any other Tranche A Revolving Lender of its obligation hereunder to make available to Administrative Agent its Pro Rata Share thereof, but no Tranche A Revolving Lender shall be responsible for the failure of any other Tranche A Revolving Lender to make available such other Tranche A Revolving Lender's Pro Rata Share of any such payment.