Common use of Funding Through the Sale of Participation Clause in Contracts

Funding Through the Sale of Participation. The Borrower acknowledges that the Bank may fund all or any part of the Letter of Credit Obligations by sales of participation to various participants and agrees that the Bank may, in invoking its rights under this ARTICLE V, demand and receive payment for reasonable costs and other amounts incurred by, or allocable to, any such participant, or take other action arising from circumstances applicable to any such participant, to the same extent that such participant could demand and receive payments, or take other action, under this ARTICLE V or if such participant were the Bank under this Agreement except that no participant’s claims for payment of costs and other amounts under this Article V shall exceed the amount which the Bank would have received had the Bank not sold a participation to such participant.

Funding Through the Sale of Participation. The Borrower acknowledges that the Bank may fund all or any part of the Letter of Credit Obligations Loans by sales of participation to various participants and agrees that the Bank may, in invoking its rights under this ARTICLE VArticle V or under Section 2.6, demand and receive payment for reasonable costs and other amounts incurred by, or allocable to, any such participant, or take other action arising from circumstances applicable to any such participant, to the same extent that such participant could demand and receive payments, or take other action, under this ARTICLE Article V or under Section 3.1(a) if such participant were the Bank under this Agreement except that no participant’s claims for payment of costs and other amounts under this Article V or Section 3.1(a) shall exceed the amount which the Bank would have received had the Bank not sold a participation to such participant.

Funding Through the Sale of Participation. The Subject only to the provisions of Section 12.5, the Borrower acknowledges that the each Bank may fund all or any part of the Letter of Credit Obligations Loans by sales of participation to various participants and agrees that the each Bank may, in invoking its rights under this ARTICLE VArticle V or under Section 2.6, demand and receive payment for reasonable costs and other amounts incurred by, or allocable to, any such participant, or take other action arising from circumstances applicable to any such participant, to the same extent that such participant could demand and receive payments, or take other action, under this ARTICLE Article V or under Section 2.6 if such participant were the Bank under this Agreement except that no participant’s 's claims for payment of costs and other amounts under this Article V or Section 2.6 shall exceed the amount which the such Bank would have received had the such Bank not sold a participation to such participant.

Funding Through the Sale of Participation. The Borrower acknowledges that the Bank may fund all or any part of the Loans or the Letter of Credit Obligations by sales of participation to various participants and agrees that the Bank may, in invoking its rights under this ARTICLE Article V, demand and receive payment for reasonable costs and other amounts incurred by, or allocable to, any such participant, or take other action arising from circumstances applicable to any such participant, to the same extent that such participant could demand and receive payments, or take other action, under this ARTICLE Article V or if such participant were the Bank under this Agreement except that no participant’s claims for payment of costs and other amounts under this Article V shall exceed the amount which the Bank would have received had the Bank not sold a participation to such participant.