Common use of Lenders’ Obligations Unconditional Clause in Contracts

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstances: (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iii) or 1.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate for the first two Business Days and at the Index Rate thereafter.

Appears in 3 contracts

Samples: Assignment Agreement (Wilsons the Leather Experts Inc), Credit Agreement (Wilsons the Leather Experts Inc), Credit Agreement (Wilsons the Leather Experts Inc)

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Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstancescircumstance, including: (A) any setoff, counterclaim, recoupment, defense or other right which that such Revolving Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased purchased; or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to Agent or the Swing Line Lender Lender, as applicable, the amount required pursuant to Section Sections 1.1(c)(iii) or 1.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Revolving Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Rate thereafter.

Appears in 2 contracts

Samples: Credit Agreement (Western Digital Corp), Credit Agreement (Western Digital Corp)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii2.1(c)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv2.1(c)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstances: circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased purchased; or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to Agent or the Swing Line Lender Lender, as applicable, the amount required pursuant to Section 1.1(c)(iii2.1(c)(iii) or 1.1(c)(iv2.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Base Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Finlay Enterprises Inc /De)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances Working Capital Loans in accordance with Section 1.1(c)(iii2.1(c)(ii) and to purchase participating interests in accordance with Section 1.1(c)(iv2.1(c)(iii) above shall be absolute and unconditional and shall not be affected by any of the following circumstances: circumstance, including, without limitation, (A) any setoffset-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, any Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Event of Default or Unmatured Event of Default; (C) any adverse change in the condition (financial or otherwise) of any Borrower or any other Person; (D) any breach of this Agreement by any Borrower or any other Person; (E) any inability of any Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (DF) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iii2.1(c)(ii) or 1.1(c)(iv)(iii) above, as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate for the first two Business Days and at the Index Rate thereafter.interest

Appears in 1 contract

Samples: Credit Agreement (Natg Holdings LLC)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iiiSECTION 1.1(B)(III) and to purchase participating interests in accordance with Section 1.1(c)(ivSECTION 1.1(B)(IV) shall be absolute and unconditional and shall not be affected by any of the following circumstances: (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iiiSECTION 1.1(B)(III) or 1.1(c)(iv1.1(B)(IV), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate for the first two Business Days and at the Index Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Lenders’ Obligations Unconditional. Each Revolving ---------------------------------- Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii------- 1.1(b)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv----------- ------- 1.1(b)(iv) shall be absolute and unconditional and shall not be affected by any ---------- of the following circumstances: (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iii1.1(b)(iii) or 1.1(c)(iv1.1(b)(iv), as the case may be, the Swing ------------------- ---------- Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate for the first two Business Days and at the Index Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii1.1(b)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv1.1(b)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstancescircumstance, including: (A) any setoff, counterclaim, recoupment, defense or other right which that such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased purchased; or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to Agent or the Swing Line Lender Lender, as applicable, the amount required pursuant to Section 1.1(c)(iiiSections 1.1(b)(iii) or 1.1(c)(iv1.1(b)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Western Digital Corp)

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Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iiiSECTION 1.1(b)(iii) and to purchase participating interests in accordance with Section 1.1(c)(ivSECTION 1.1(b)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstances: circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to Agent or the Swing Line Lender Lender, as applicable, the amount required pursuant to Section SECTION 1.1(c)(iii) or 1.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Rawlings Sporting Goods Co Inc)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii2.1(c)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv2.1(c)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstances: circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower Borrowers or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower Borrowers to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased purchased; or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to Agent or the Swing Line Lender Lender, as applicable, the amount required pursuant to Section 1.1(c)(iii2.1(c)(iii) or 1.1(c)(iv2.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Base Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Finlay Enterprises Inc /De)

Lenders’ Obligations Unconditional. Each Revolving Lender's ’s obligation to make Revolving Credit Advances in accordance with Section 1.1(c)(iii) and to purchase participating interests in accordance with Section 1.1(c)(iv) shall be absolute and unconditional and shall not be affected by any of the following circumstances: (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) any inability of Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such participating interest is to be purchased or (D) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iii) or 1.1(c)(iv), as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate for the first two Business Days and at the Index Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Wilsons the Leather Experts Inc)

Lenders’ Obligations Unconditional. Each Revolving Lender's obligation to make Revolving Credit Advances Loans in accordance with Section 1.1(c)(iii2.1(b)(ii) and to purchase participating interests in accordance with Section 1.1(c)(iv2.1(b)(iii) above shall be absolute and unconditional and shall not be affected by any of the following circumstances: circumstance, including, without limitation, (A) any setoffset-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Company, any Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Event of Default or Unmatured Event of Default; (C) any adverse change in the condition (financial or otherwise) of the Company, any Borrower or any other Person; (D) any breach of this Agreement by the Company, any Borrower or any other Person; (E) any inability of the Company or any Borrower to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which such Revolving Loan is to be made or such participating interest is to be purchased purchased; or (DF) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. If any Revolving Lender does not make available to the Swing Line Lender the amount required pursuant to Section 1.1(c)(iii2.1(b)(ii) or 1.1(c)(iv)(iii) above, as the case may be, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender, together with interest thereon for each day from the date of non-payment until such amount is paid in full at the federal funds rate Federal Funds Rate for the first two Business Days and at the Index Base Rate thereafter.

Appears in 1 contract

Samples: Credit Agreement (Glatfelter P H Co)

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