Common use of LC Participations Clause in Contracts

LC Participations. (a) The Issuing Lender irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s own account and risk an undivided interest equal to such LC Participant’s Revolving Percentage in the Issuing Lender’s obligations and rights under each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the Issuing Lender upon demand at the Administrative Agent’s address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such LC Participant’s Revolving Percentage of the relevant LC Disbursement (or, in the case of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof), or any part thereof, that is not so reimbursed.

LC Participations. (a) The Each Issuing Lender irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the each Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the such Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s own account and risk an undivided interest equal to such LC Participant’s Revolving Percentage in the such Issuing Lender’s obligations and rights under each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued by such Issuing Lender hereunder and the amount of each draft paid by the such Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the each Issuing Lender that, if a draft is paid under any Letter of Credit for which the applicable Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the such Issuing Lender upon demand at the Administrative Agent’s address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the such Issuing Lender) an amount equal to such LC Participant’s Revolving Percentage of the relevant LC Disbursement (or, in the case of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof), or any part thereof, that is not so reimbursed.

LC Participations. (ai) The Issuing Lender Bank irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the Issuing Lender Bank to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing LenderBank, on the terms and conditions hereinafter stated, for such LC Participant’s own account and risk an undivided interest equal to such LC Participant’s Revolving Credit Lender’s Pro Rata Percentage in the Issuing LenderBank’s obligations and rights under and in respect of each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender Bank thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender Bank that, if a draft is paid under any Letter of Credit for which the Issuing Lender Bank is not reimbursed in full by the Borrower Borrowers in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the Issuing Lender Bank upon demand at the Administrative AgentIssuing Bank’s address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such LC Participant’s Revolving Credit Lender’s Pro Rata Percentage of the relevant LC Disbursement (or, in the case amount of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof)such draft, or any part thereof, that is not so reimbursed.

LC Participations. (ai) The Issuing Lender irrevocably agrees Immediately upon each LC Issuance, the LC Issuer of such Letter of Credit shall be deemed to grant have sold and hereby grants transferred to each Lender with a Revolving Commitment, and each such Lender (each an “LC Participant, and, ”) shall be deemed irrevocably and unconditionally to induce the Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept have purchased and purchase and hereby accepts and purchases received from the Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s own account and risk Issuer, without recourse or warranty, an undivided interest equal and participation (an “LC Participation”), to the extent of such LC ParticipantLender’s Revolving Facility Percentage of the Stated Amount of such Letter of Credit in the Issuing Lender’s obligations and rights under each effect at such time of issuance, in such Letter of Credit (including, for the avoidance of doubt, any portion the Existing Letters of an Existing Credit), each substitute Letter of Credit deemed to Credit, each drawing made thereunder, the obligations of any LC Obligor under this Agreement with respect thereto (although LC Fees relating thereto shall be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay payable directly to the Administrative Agent for the account of the Issuing Lender upon demand at Lenders as provided in Section 2.11 and the Administrative Agent’s address for notices specified herein (and thereafter the Administrative Agent LC Participants shall promptly pay have no right to the Issuing Lender) an amount equal to such LC Participant’s Revolving Percentage receive any portion of any fees of the relevant nature contemplated by Section 2.11(c) or Section 2.11(e)), the obligations of any LC Disbursement Obligor under any LC Documents pertaining thereto, and any security for, or guaranty pertaining to, any of the foregoing. (or, in the case of an Alternative Currency ii) In determining whether to pay under any Letter of Credit, an LC Issuer shall not have any obligation relative to the Dollar Equivalent thereof)LC Participants other than to determine that any documents required to be delivered under such Letter of Credit have been delivered and that they appear to comply on their face with the requirements of such Letter of Credit. Any action taken or omitted to be taken by an LC Issuer under or in connection with any Letter of Credit, if taken or omitted in the absence of gross negligence or willful misconduct, shall not create for such LC Issuer any part thereof, that is not so reimbursedresulting liability.

LC Participations. (a) The Issuing Lender irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s 's own account and risk an undivided interest equal to such LC Participant’s 's Revolving Percentage or LC/MD Percentage, as the case may be, in the Issuing Lender’s 's obligations and rights under each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the Issuing Lender upon demand at the Administrative Agent’s Issuing Lender's address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such LC Participant’s 's Revolving Percentage or LC/MD Percentage, as the case may be, of the relevant LC Disbursement (or, in the case amount of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof)such draft, or any part thereof, that is not so reimbursedreimbursed (which payments shall constitute LC/MD Reimbursement Loans to the extent contemplated by Section 3.5).

LC Participations. (a) The Issuing Lender irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s 's own account and risk an undivided interest equal to such LC Participant’s 's Revolving Percentage in the Issuing Lender’s 's obligations and rights under each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the Issuing Lender upon demand at the Administrative Agent’s 's address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such LC Participant’s 's Revolving Percentage of the relevant LC Disbursement (or, in the case amount of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof)such draft, or any part thereof, that is not so reimbursed.

LC Participations. (a) The Issuing Lender irrevocably agrees to grant and hereby grants to each LC Participant, and, to induce the Issuing Lender to issue Letters of Credit hereunder, each LC Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions hereinafter stated, for such LC Participant’s 's own account and risk an undivided interest equal to such LC Participant’s 's Revolving Percentage in the Issuing Lender’s 's obligations and rights under each Letter of Credit (including, for the avoidance of doubt, any portion of an Existing Letter of Credit deemed to be a Letter of Credit in accordance with Section 3.1 and as indicated on Schedule 1.1) issued hereunder and the amount of each draft paid by the Issuing Lender thereunder. Each LC Participant unconditionally and irrevocably agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such LC Participant shall pay to the Administrative Agent for the account of the Issuing Lender upon demand at the Administrative Agent’s Issuing Lender's address for notices specified herein (and thereafter the Administrative Agent shall promptly pay to the Issuing Lender) an amount equal to such LC Participant’s 's Revolving Percentage of the relevant LC Disbursement (or, in the case amount of an Alternative Currency Letter of Credit, the Dollar Equivalent thereof)such draft, or any part thereof, that is not so reimbursed.