Benefit of Certain Provisions. The Company agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 in respect of its participating interest in amounts owing under this Agreement and the Notes to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement and the Notes; provided, that each Bank shall retain the right of setoff provided in Section 9.05 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.05, agrees to share with each Bank, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 as if each Participant were a Bank. The Company further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d), 2.11, 2.12 and 2.18 to the same extent as if it were a Bank and had acquired its interest by assignment pursuant to Section 9.03; provided, that (a) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d), 2.11, 2.12 or 2.18 than the Bank who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the Company, and (b) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 to the same extent as if it were a Bank.
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Samples: 364 Day Credit Agreement (Donnelley R R & Sons Co), 364 Day Credit Agreement (Donnelley R R & Sons Co)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 14.15(a) in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the Notes; providedLoan Documents, provided that each Bank Lender shall retain the right of setoff provided in Section 9.05 14.15(a) with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.0514.15(a), agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 14.15(b) as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)4.1, 2.114.2, 2.12 4.4 and 2.18 4.5 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; provided13.3, provided that (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d)Section 4.1, 2.114.2, 2.12 4.4 or 2.18 4.5 than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 4.5 to the same extent as if it were a Bank.Lender
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (First Industrial Realty Trust Inc)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff and recoupment provided in Section 9.05 11.1 in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the Notes; providedLoan Documents, provided that each Bank Lender shall retain the right of setoff and recoupment provided in Section 9.05 11.1 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff and recoupment provided in Section 9.0511.1, agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoffsetoff and recoupment, such amounts to be shared in accordance with Section 2.15 11.2 as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)3.1, 2.113.2, 2.12 3.4 and 2.18 3.5 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; provided12.3, provided that (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d)Section 3.1, 2.11, 2.12 3.2 or 2.18 3.5 than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 3.5 to the same extent as if it were a BankLender.
Appears in 1 contract
Samples: Credit Agreement (Ual Corp /De/)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 14.15(a) in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the Notes; providedLoan Documents, provided that each Bank Lender shall retain the right of setoff provided in Section 9.05 14.15(a) with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.0514.15(a), agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 14.15(b) as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)4.1, 2.114.2, 2.12 4.4 and 2.18 4.5 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; provided13.3, provided that (ai) a Participant shall not be entitled to 106 receive any greater payment under Sections 2.02(d)Section 4.1, 2.114.2, 2.12 4.4 or 2.18 4.5 than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 4.5 to the same extent as if it were a BankLender.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (First Industrial Lp)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 Subsection 5.5 in respect of its participating interest in amounts owing under this Agreement and the Notes Financing Agreements to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the Notes; providedFinancing Agreements, that provided that, each Bank Lender shall retain the right of setoff provided in Section 9.05 Subsection 5.5 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.05Subsection 5.5, agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 Subsection 2.12 as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)Subsections 2.10, 2.112.15, 2.12 2.16(D) and 2.18 2.17 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; providedSubsection 11.3, that provided that, (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d)Subsection 2.10, 2.112.15, 2.12 2.16(D) or 2.18 2.17 than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America U.S. or any State state thereof agrees to comply with the provisions of Section 2.18 Subsection 2.10 to the same extent as if it were a BankLender.
Appears in 1 contract
Benefit of Certain Provisions. The Company Borrower agrees that each Participant which has been identified as such to the Borrower in writing shall be deemed to have the right of setoff provided in Section 9.05 11.1 in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the NotesLoan Documents; provided, that each Bank Lender shall retain the right of setoff provided in Section 9.05 11.1 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.0511.1, agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 11.2 as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)3.1, 2.113.2, 2.12 3.4 and 2.18 3.5 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; provided12.3, provided that (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d)Section 3.1, 2.11, 2.12 3.2 or 2.18 3.5 than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 3.5 to the same extent as if it were a BankLender.
Appears in 1 contract
Samples: Credit Agreement (Aon Corp)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 11 in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement and the Notes; providedLoan Documents, provided that each Bank shall retain the right of setoff provided in Section 9.05 11 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.0511, agrees to share with each Bank, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 11 as if each Participant were a Bank. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d), 2.11, 2.12 and 2.18 13 to the same extent as if it were a Bank and had acquired its interest by assignment pursuant to Section 9.03; provided17.1.3, provided that (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d), 2.11, 2.12 or 2.18 Section 13 than the Bank who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the Company, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of the first sentence of Section 2.18 17.6 to the same extent as if it were a BankBank hereunder.
Appears in 1 contract
Samples: Third Amended and Restated Credit Agreement (NVR Inc)
Benefit of Certain Provisions. The Company Borrower agrees that each Participant shall be deemed to have the right of setoff set-off provided in Section 9.05 10.16 in respect of its participating interest in amounts owing under this Agreement and the Notes Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Bank Lender under this Agreement and the Notes; providedLoan Documents, provided that each Bank Lender shall retain the right of setoff set-off provided in Section 9.05 10.16 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff set-off provided in Section 9.0510.16, agrees to share with each BankLender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 2.04 (d) or Section 9.01, as applicable, as if each Participant were a BankLender. The Company Borrower further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d)2.03, 2.112.07, 2.12 3.02, 3.03 and 2.18 9.01 to the same extent as if it were a Bank Lender and had acquired its interest by assignment pursuant to Section 9.03; provided12.02, provided that (ai) a Participant shall not be entitled to receive any greater payment under Sections 2.02(d), 2.11, 2.12 or 2.18 other than the Bank Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the CompanyBorrower, and (bii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 3.03 to the same extent as if it were a BankLender.
Appears in 1 contract
Samples: Credit Agreement (Franklin Credit Holding Corp/De/)
Benefit of Certain Provisions. The Company agrees that each Participant shall be deemed to have the right of setoff provided in Section 9.05 in respect of its participating interest in amounts owing under this Agreement and the Notes to the same extent as if the amount of its participating interest were owing directly to it as a Bank under this Agreement and the Notes; provided, that each Bank shall retain the right of setoff provided in Section 9.05 with respect to the amount of participating interests sold to each Participant to the extent not applied by such Participant. The Banks agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 9.05, agrees to share with each Bank, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 2.15 as if each Participant were a Bank. The Company further agrees that each Participant shall be entitled to the benefits of Sections 2.02(d), 2.11, 2.12 and 2.18 to the same extent as if it were a Bank and had acquired its interest by assignment pursuant to Section 9.03; provided, that (a) a Participant shall not be entitled to receive any greater payment under Sections Section 2.02(d), 2.11, 2.12 or 2.18 than the Bank who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such interest to such Participant is made with the prior written consent of the Company, and (b) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of Section 2.18 to the same extent as if it were a Bank.
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