Common use of Lenders’ Obligations Clause in Contracts

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender (to the extent Administrative Lender is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) on demand for such Lender's Specified Percentage of each draw paid by Administrative Lender under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 5 contracts

Samples: Credit Agreement (Itc Deltacom Inc), Credit Agreement (Itc Deltacom Inc), Credit Agreement (Pinnacle Holdings Inc)

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Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender Issuing Bank (to the extent Administrative Lender Issuing Bank is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) on demand for such Lender's Specified Percentage of each draw paid by Administrative Lender Issuing Bank under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Effective Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 3 contracts

Samples: Credit Agreement (Northland Cable Properties Six LTD Partnership), Credit Agreement (Northland Cable Properties Six LTD Partnership), Credit Agreement (Northland Cable Television Inc)

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender Agent (to the extent Administrative Lender Agent is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) on demand for such Lender's Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Effective Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 2 contracts

Samples: Credit Agreement (General Communication Inc), Credit Agreement (Gci Inc)

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender (to the extent Administrative Lender is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) Agent on demand for such Lender's Foreign Revolver Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of CreditCredit (or if such Letter of Credit is denominated in a currency other than Dollars, the Dollar equivalent of such currency). All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 2 contracts

Samples: Credit Agreement (Pacific Gateway Exchange Inc), Credit Agreement (Pacific Gateway Exchange Inc)

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender Agent (to the extent Administrative Lender Agent is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) on demand for such Lender's Revolver B Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the First Maturity Date and shall survive termination of any Loan Papers.

Appears in 2 contracts

Samples: Credit Agreement (Pinnacle Holdings Inc), Credit Agreement (Pinnacle Holdings Inc)

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Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender Agent (to the extent Administrative Lender Agent is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) on demand for such Lender's Revolver Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section with respect to Letters of Credit issued in accordance with the terms of this Agreement shall continue after the First Maturity Date and shall survive the termination of any Loan Papers, but only to the extent that any such Lender has not reimbursed the Administrative Agent prior to such date in accordance with the terms hereof.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Holdings Inc)

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender (to the extent Administrative Lender is not otherwise reimbursed by the Borrower in accordance with Section 3.03(a) hereof) Agent on demand for such Lender's Revolver Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of CreditCredit (or if such Letter of Credit is denominated in a currency other than Dollars, the Dollar equivalent of such currency). All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 1 contract

Samples: Credit Agreement (Pacific Gateway Exchange Inc)

Lenders’ Obligations. Each Lender agrees, unconditionally and irrevocably to reimburse Administrative Lender Agent (to the extent Administrative Lender Agent is not otherwise reimbursed by the Borrower Company in accordance with Section 3.03(a) hereof) on demand for such Lender's Specified Percentage of each draw paid by Administrative Lender Agent under any Letter of Credit. All amounts payable by any Lender under this subsection shall include interest thereon at the Federal Funds Effective Rate, from the date of the applicable draw to the date of reimbursement by such Lender. No Lender shall be liable for the performance or nonperformance of the obligations of any other Lender under this Section. The obligations of the Lenders under this Section shall continue after the Maturity Date and shall survive termination of any Loan Papers.

Appears in 1 contract

Samples: Credit Agreement (General Communication Inc)

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