Liquidity Facilities. Each Conduit Lender party hereto hereby represents that (i) pursuant to the Liquidity Agreement, such Conduit Lender has obtained a Liquidity Commitment from its Liquidity Provider(s) in an amount equal to 102% of the greater of (A) its Commitment from time to time in effect hereunder, and (B) its Percentage of the Aggregate Principal outstanding from time to time hereunder, and (ii) while the Liquidity Provider(s) may not be obligated to pay par for a Loan that is transferred to it pursuant to the Liquidity Agreement, the only condition precedent to any Liquidity Provider(s) obligation to pay the agreed-upon price thereunder is the absence of an Event of Bankruptcy with respect to such Conduit Lender.
Appears in 5 contracts
Samples: Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc), Credit and Security Agreement (Martin Marietta Materials Inc)
