Bank Participation. Each Bank severally agrees to participate with the LC Bank in the extension of credit arising from the issuance of the Letters of Credit in an amount equal to such Bank's Proportionate Share of the Stated Amount of each Letter of Credit, and the issuance of a Letter of Credit shall be deemed a confirmation to the LC Bank of such participation in such amount. The LC Bank may request the Banks to pay to the LC Bank their respective Proportionate Shares of all or any portion of any Drawing Payment made or to be made by the LC Bank under any Letter of Credit by contacting each Bank and Administrative Agent telephonically (promptly confirmed in writing) at any time after the LC Bank has received notice of or request for such Drawing Payment, and specifying the amount of such Drawing Payment, such Bank's Proportionate Share thereof, and the date on which such Drawing Payment is to be made or was made; provided, however, that the LC Bank shall not request the Banks to make any payment under this Section 2.2.8 in connection with any portion of a Drawing Payment for which the LC Bank has been reimbursed by Borrower (unless such reimbursement has been thereafter rescinded or recovered by Borrower). Upon receipt of any such request for payment from the LC Bank, each Bank shall pay to the LC Bank such Bank's Proportionate Share of the unreimbursed portion of such Drawing Payment, together with interest thereon at a per annum rate equal to the Federal Funds Rate, as in effect from time to time, from the date of such Drawing Payment to the date on which such Bank makes payment. Each Bank's obligation to make each such payment to the LC Bank shall be absolute, unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including the occurrence or continuation of any Borrower Inchoate Default or Borrower Event of Default, or the failure of any other Bank to make any payment under this Section 2.2.8, and each Bank further agrees that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.
Bank Participation. A maximum of three (3) days may be donated per year. Donations are irrevocable and must be in the employee’s full day equivalent, whatever their classification. Those employees donating days must submit a signed donation form to payroll. In the event the Bank is depleted and a specific need for additional days arises during the course of the school year, any classified employee who presently has five or more days of earned and unused sick leave, who had not previously participated, may donate to the Bank and become a member of the Bank.
Bank Participation. At the election of the Hedge Bank party to any Interest Rate Agreement, the Banks and the Lender Groups may participate in such Interest Rate Agreement and the Hedge Transactions thereunder in proportion to (i) in the case of the Banks, their respective Proportionate Shares and (ii) in the case of a Lender Group, such Lender Group's Proportionate Share, by means of a risk sharing agreement in form and substance reasonably satisfactory to the participating Banks and Lender Groups, provided that if the lending office of any such Bank or any applicable Lender Group Member is in the State of New York, such Bank or such Lender Group Member may designate another branch to enter into such risk sharing agreement.
Bank Participation. On the date a Swingline Loan is made by the Swingline Lender (including, without limitation, any Swingline Loan that is an Overadvance Loan made in accordance with clause (ii) immediately above), the Swingline Lender shall be deemed without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Swingline Lender a risk participation to the extent of such Bank's Applicable Percentage in the Swingline Loan so made, such participation to be funded in accordance with clause (c) of this Section 2.03.
Bank Participation. Upon the issuance of a Letter of Credit, each Bank shall be deemed to have purchased a participation therein from the applicable LC Issuer in an amount equal to its Commitment Percentage of the amount of such Letter of Credit.
Bank Participation. On the date a Swingline Loan is made by the Swingline Bank, the Swingline Bank shall be deemed, without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Swingline Bank, a risk participation to the extent of such Bank’s Commitment Percentage in the Swingline Loan so made, such participation to be funded in accordance with clause (b) of this Section 2.8.
Bank Participation. Each Bank severally agrees with Issuing Bank to participate in the extension of credit arising from the issuance of Letters of Credit by Issuing Bank in an amount equal to such Bank's Proportionate Share of the Stated Amount of the Letters of Credit from time to time issued by Issuing Bank, and the issuance of any Letter of Credit shall be deemed a confirmation by each Bank of such participation in such amount. Issuing Bank may request the Banks to pay to Issuing Bank all or any portion of any Drawing Payment made or to be made by Issuing Bank under any Letters of Credit (up to each such Bank's Proportionate
Bank Participation. 55 5.23 Alternative Thermal Host Action Plan . . . . . . . . . . . . . . . . . . . . . . . 55 5.24
Bank Participation. At the election of Agent, the Banks may participate in the Interest Rate Agreements and Hedge Transactions thereunder in proportion to their respective Proportionate Shares by means of a risk sharing agreement in form and substance satisfactory to such Banks, provided, that if any such Bank's Lending office is in the State of New York, such Bank may designate another branch to enter into such risk sharing agreement.
