L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c)), such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 5 contracts
Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk risk, an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent Agent, for the account of the applicable Issuing Lender, upon demand, demand at the Administrative Agent’s Funding Office (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 5 contracts
Samples: Credit Agreement (Tw Telecom Inc.), Amendment and Restatement Agreement (Tw Telecom Inc.), Credit Agreement (Time Warner Telecom Inc)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 5 contracts
Samples: Credit Agreement (M & F Worldwide Corp), Credit Agreement (National Waterworks Inc), Credit Agreement (M & F Worldwide Corp)
L/C Participations. (a) Each The U.S. Issuing Lender irrevocably agrees to grant and hereby grants to each U.S. L/C Participant, and, to induce the U.S. Issuing Lenders Lender to issue their respective U.S. Letters of CreditCredit hereunder, each U.S. L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the U.S. Issuing Lender, on the terms and conditions set forth below, for such U.S. L/C Participant’s own account and risk an undivided interest equal to such U.S. L/C Participant’s Commitment U.S. Revolving Credit Percentage in such the U.S. Issuing Lender’s obligations and rights under and in respect of each U.S. Letter of Credit issued by it hereunder and the amount of each draft paid by such the U.S. Issuing Lender thereunder. Each U.S. L/C Participant unconditionally and irrevocably agrees with the U.S. Issuing Lender that, if a draft is paid under any U.S. Letter of Credit for which an the U.S. Issuing Lender is not indefeasibly reimbursed in cash in full by the U.S. Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such U.S. L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable U.S. Issuing Lender, upon demand, Lender an amount equal to such U.S. L/C Participant’s Commitment U.S. Revolving Credit Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the U.S. Issuing Lender.
Appears in 4 contracts
Samples: Credit Agreement (Cedar Fair L P), Credit Agreement (Cedar Fair L P), Credit Agreement (Cedar Fair L P)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Revolving Credit Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Issuing Lender through the Administrative Agent (or the Administrative Agent shall apply Cash Collateral provided for this purpose) upon demand at the account of the applicable Issuing Lender, upon demand, Administrative Agent’s address for notices specified herein an amount equal to such L/C Participant’s Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 4 contracts
Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursedreimbursed (and the Administrative Agent may apply Cash Collateral provided for this purpose).
Appears in 3 contracts
Samples: Credit Agreement (National Financial Partners Corp), Credit Agreement (National Financial Partners Corp), Credit Agreement (National Financial Partners Corp)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Revolving Credit Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft drawing paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft drawing is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Issuing Lender through the Administrative Agent (or the Administrative Agent shall apply Cash Collateral provided for this purpose) upon demand at the account of the applicable Issuing Lender, upon demand, Administrative Agent’s address for notices specified herein an amount equal to such L/C Participant’s Revolving Credit Commitment Percentage of the amount of such draftdrawing, or any part thereof, that is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)
L/C Participations. (a) Each Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Bank that, if a draft is paid under any Letter of Credit for which an such Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent such Issuing Bank upon demand at such Issuing Bank's address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each such Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the such Issuing Lender upon demand made through Administrative Agent for at the account of the applicable Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (CalAtlantic Group, Inc.), Credit Agreement (Standard Pacific Corp /De/), Credit Agreement (Standard Pacific Corp /De/)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees (subject to clause (a) of the proviso to the initial sentence of Section 2.1 hereof) to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to the Dollar Equivalent of such L/C Participant’s 's Revolving Credit Commitment Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower through a Revolving Credit Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall (subject to clause (a) of the proviso to the initial sentence of Section 2.1 hereof) pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to the Dollar Equivalent of such L/C Participant’s 's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (Paravant Inc), Credit Agreement (Paravant Inc), Credit Agreement (DRS Technologies Inc)
L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid under any Letter of Credit for which an the Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent Issuing Bank upon first demand at the Issuing Bank's address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (Cogentrix Delaware Holdings Inc), Credit Agreement (Cogentrix Energy Inc), Credit Agreement (Cogentrix Energy Inc)
L/C Participations. (ai) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage Pro Rata Share in such each Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower through a Revolving Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Percentage Pro Rata Share of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (Salesforce, Inc.), Credit Agreement (SALESFORCE.COM, Inc.), Credit Agreement (Salesforce Com Inc)
L/C Participations. (ai) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage Pro Rata Share in such each Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower through a Revolving Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s address for notices specified herein the Administrative Agent for the account Dollar Equivalent of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s Commitment Percentage Pro Rata Share of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 3 contracts
Samples: Credit Agreement (RXO, Inc.), Credit Agreement (GXO Logistics, Inc.), Credit Agreement (XPO Logistics, Inc.)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably Participant, subject to Section 2.7 irrevocably, absolutely and unconditionally agrees to accept and purchase and hereby accepts and purchases from each such Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk risk, an undivided participation interest in such Issuing Lender's obligations and rights under each Letter of Credit issued by such Issuing Lender hereunder and the amounts paid by such Issuing Lender thereunder or in connection therewith equal to such L/C Participant’s Commitment 's Stated Percentage in for such Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees Credit; provided that, if with respect to each Lender (other than a draft is paid under any Declining Lender), and after giving effect to such Lender's Stated Percentage of such Letter of Credit for which an Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Credit, such L/C Participant shall pay to the Administrative Agent for the account Lender's Extensions of the applicable Issuing Credit do not exceed such Lender, upon demand, an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed's Maximum Credit Limit.
Appears in 2 contracts
Samples: Uncommitted Credit Agreement (Aegean Marine Petroleum Network Inc.), Uncommitted Credit Agreement (Aegean Marine Petroleum Network Inc.)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderLenders, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such each Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such each Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral or which is not converted to ABR Loans pursuant to Sections 5.1(a) and 10.2(c))Section 3.7 of this Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Joinder Agreement (Agl Resources Inc), Credit Agreement (Agl Resources Inc)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (National Financial Partners Corp), Credit Agreement (National Financial Partners Corp)
L/C Participations. (a) a. Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c)), such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va)
L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Revolver Commitment Percentage in such the Issuing LenderBank’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid under any Letter of Credit for which an the Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower through a Revolver Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent Issuing Bank upon demand at the Issuing Bank’s address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s Revolver Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Atlas Pipeline Partners Lp), Credit and Term Loan Agreement (Atlas Pipeline Holdings, L.P.)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower HCLP in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, ’s address for notices specified herein an amount in Dollars equal to such L/C Participant’s Commitment Percentage of the amount of the Dollar Equivalent of such draftdraft (calculated on the date such draft is paid by the Issuing Lender), or any part thereof, that which is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Hanover Compressor Co /), Credit Agreement (Hanover Compressor Co /)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower Borrowers in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Interstate Bakeries Corp/De/), Credit Agreement (Interstate Bakeries Corp/De/)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment US$ Revolving Percentage in such each Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender upon demand at such Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment US$ Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Church & Dwight Co Inc /De/), Credit Agreement (Church & Dwight Co Inc /De/)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c)), such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Letter of Credit Agreement (Dominion Resources Inc /Va/), Letter of Credit Agreement (Consolidated Natural Gas Co/Va)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such each Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender upon demand at such Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Church & Dwight Co Inc /De/), Credit Agreement (Church & Dwight Co Inc /De/)
L/C Participations. (a) Each Issuing The L/C Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders L/C Lender to issue their respective cause Letters of CreditCredit to be issued hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing the L/C Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such Issuing the L/C Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunderthereunder (which shall include the L/C Lender’s obligation to reimburse such applicable Issuing Lender for the amount of such drawing). Each L/C Participant unconditionally and irrevocably agrees with the L/C Lender that, if a draft is paid under any Letter of Credit for which an Issuing the L/C Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable Issuing Lender, upon demand, L/C Lender an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the L/C Lender.
Appears in 2 contracts
Samples: Credit Agreement (IAA Acquisition Corp.), Credit Agreement (Insurance Auto Auctions, Inc)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such each Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an the relevant Issuing Lender is not indefeasibly reimbursed in cash in full by the relevant Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 2 contracts
Samples: Credit Agreement (Domtar CORP), Credit Agreement (Domtar CORP)
L/C Participations. (ai) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage Pro Rata Share in such each Issuing LenderLxxxxx’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which an such Issuing Lender Lxxxxx is not indefeasibly reimbursed in cash in full by the Borrower through a Revolving Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lxxxxx’s address for notices specified herein the Administrative Agent for the account Dollar Equivalent of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s Commitment Percentage Pro Rata Share of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 1 contract
Samples: Credit Agreement (RXO, Inc.)
L/C Participations. (ai) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage Pro Rata Share in such each Issuing LenderLxxxxx’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower through a Revolving Loan or otherwise in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender’s address for notices specified herein the Administrative Agent for the account Dollar Equivalent of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s Commitment Percentage Pro Rata Share of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each The Company and each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower Company in accordance with the terms of this Credit Agreement Agreement, (notwithstanding delivery i) if such draft is paid in a Foreign Currency, such amount shall be converted into Dollars at the Exchange Rate then in effect as determined by the Administrative Agent (and such amount shall thereafter be denominated in Dollars for all purposes of cash collateral pursuant to Sections 5.1(athis Agreement) and 10.2(c)), (ii) such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draftdraft (after giving effect to the conversion provided in clause (i) above), or any part thereof, that is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower HCC in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount in Dollars equal to such L/C Participant’s 's Commitment Percentage of the amount of the Dollar Equivalent of such draftdraft (calculated on the date such draft is paid by the Issuing Lender), or any part thereof, that which is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
Samples: Credit Agreement (American Pharmaceutical Partners Inc /Ca/)
L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk risk, an undivided interest equal to such L/C Participant’s 's Revolving Credit Commitment Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid under any Letter of Credit for which an the Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms teens of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent Issuing Bank upon demand at the Issuing Bank's address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s 's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Bank to issue their respective Letters of Credit (including Existing Letters of Credit) hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk risk, an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid or other payment made by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid or any payment is otherwise made under any Letter of Credit (including any Existing Letter of Credit) for which an the Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))or the Application, as the case may be, such L/C Participant shall pay to the Administrative Agent for Issuing Bank upon demand at the account of the applicable Issuing Lender, upon demand, Payment Office an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draftdraft or payment, or any part thereof, that which is not so reimbursed.
Appears in 1 contract
Samples: Credit Agreement (Audiovox Corp)
L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Bank to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Aggregate Exposure Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Bank that, if a draft is paid under any Letter of Credit for which an the Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent Issuing Bank upon demand at the Issuing Bank's address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s Commitment 's Aggregate Exposure Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant or in the event that any reimbursement received by the Issuing Lender shall be required to Sections 5.1(a) and 10.2(c)be returned by it at any time), such L/C Participant shall pay to the Administrative Agent Issuing Lender upon demand at the Issuing Xxxxxx’s address for the account of the applicable Issuing Lender, upon demand, notices specified herein an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.93
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
Samples: Credit Agreement (National Financial Partners Corp)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable Issuing Lender, upon demand, an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The U.S. Issuing Lender irrevocably agrees to grant and hereby grants to each U.S. L/C Participant, and, to induce the U.S. Issuing Lenders Lender to issue their respective U.S. Letters of CreditCredit hereunder, each U.S. L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the U.S. Issuing Lender, on the terms and conditions set forth below, for such U.S. L/C Participant’s 's own account and risk an undivided interest equal to such U.S. L/C Participant’s Commitment 's U.S. Revolving Credit Percentage in such the U.S. Issuing Lender’s 's obligations and rights under and in respect of each U.S. Letter of Credit issued by it hereunder and the amount of each draft paid by such the U.S. Issuing Lender thereunder. Each U.S. L/C Participant unconditionally and irrevocably agrees with the U.S. Issuing Lender that, if a draft is paid under any U.S. Letter of Credit for which an the U.S. Issuing Lender is not indefeasibly reimbursed in cash in full by the U.S. Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such U.S. L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable U.S. Issuing Lender, upon demand, Lender an amount equal to such U.S. L/C Participant’s Commitment 's U.S. Revolving Credit Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the U.S. Issuing Lender.
Appears in 1 contract
Samples: Credit Agreement (Cedar Fair L P)
L/C Participations. (a) Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the each Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each such Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which an such Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account of the applicable such Issuing Lender upon demand at such Issuing Lender, upon demand, ’s address for notices specified herein an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
Samples: Revolving Credit Agreement (Dominion Energy Midstream Partners, LP)
L/C Participations. (a) Each Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the such Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s own account and risk risk, an undivided interest equal to such L/C Participant’s Commitment Pro Rata Percentage in such the Issuing LenderBank’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with such Issuing Bank that, if a draft is paid under any Letter of Credit for which an such Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower applicable Account Party in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Bank (through the General Administrative Agent for the account of the applicable Issuing Lender, Agent) upon demand, demand an amount equal to such L/C Participant’s Commitment Pro Rata Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed, in the US/UK Committed Currency of such draft.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Reebok International LTD)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower Borrowers in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable Issuing Lender, upon demand, Lender an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the Issuing Lender.
Appears in 1 contract
Samples: Credit Agreement (American Real Estate Partners L P)
L/C Participations. (a) Each Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the such Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with such Issuing Bank that, if a draft is paid under any Letter of Credit for which an such Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower Borrowers in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Bank (through the Administrative Agent for the account of the applicable Issuing Lender, Agent) upon demand, demand an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.
Appears in 1 contract
Samples: Credit Agreement (Advanced Communication Systems Inc)
L/C Participations. (a) Each Issuing Lender Bank irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the such Issuing Lenders Bank to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s 's Commitment Percentage in such the Issuing Lender’s Bank's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with such Issuing Bank that, if a draft is paid under any Letter of Credit for which an such Issuing Lender Bank is not indefeasibly reimbursed in cash in full by the Borrower applicable Account Party in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to such Issuing Bank (through the Administrative Agent for the account of the applicable Issuing Lender, Agent) upon demand, demand an amount equal to such L/C Participant’s 's Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed, in the Committed Currency of such draft.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Reebok International LTD)
L/C Participations. (avi) Each Issuing The L/C Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders L/C Lender to issue their respective cause Letters of CreditCredit to be issued hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing the L/C Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Revolving Percentage in such Issuing the L/C Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by the Issuing Bank thereunder (which shall include the L/C Lender’s obligation to reimburse such applicable Issuing Lender thereunderBank for the amount of such drawing). Each L/C Participant unconditionally and irrevocably agrees with the L/C Lender that, if a draft is paid under any Letter of Credit for which an Issuing the L/C Lender is not indefeasibly reimbursed in cash in full by the Borrower Borrowers in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable Issuing Lender, upon demand, L/C Lender an amount equal to such L/C Participant’s Commitment Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the L/C Lender.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Revolving Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s own account and risk an undivided interest equal to such L/C Participant’s Commitment Percentage in such the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for the account upon demand of the applicable Issuing Lender, upon demand, Lender an amount equal to such L/C Participant’s Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. The Administrative Agent shall promptly forward such amounts to the Issuing Lender.
Appears in 1 contract
Samples: Credit Agreement (American Real Estate Partners L P)
L/C Participations. (a) Each The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce the Issuing Lenders Lender to issue their respective Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant’s 's own account and risk an undivided interest equal to such L/C Participant’s Commitment 's Three-Year Revolving Percentage in such the Issuing Lender’s 's obligations and rights under and in respect of each Letter of Credit issued by it and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which an the Issuing Lender is not indefeasibly reimbursed in cash in full by the Borrower Company in accordance with the terms of this Credit Agreement (notwithstanding delivery of cash collateral pursuant to Sections 5.1(a) and 10.2(c))Agreement, such L/C Participant shall pay to the Administrative Agent for Issuing Lender upon demand at the account of the applicable Issuing Lender, upon demand, 's address for notices specified herein an amount equal to such L/C Participant’s Commitment 's Three-Year Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.
Appears in 1 contract