Common use of Nature of Obligations of Lenders to Make Loans Clause in Contracts

Nature of Obligations of Lenders to Make Loans. The obligations of Lenders under this Agreement to make the Loans are several and are not joint or joint and several. All Revolving Credit Advances shall be made from the Lenders PRO RATA on the basis of their Percentage Commitment. It is understood that no Lender shall be responsible for any default by any other Lender in its obligation to make or support Loans hereunder and that each Lender shall be obligated to make or support the Loans provided to be made or supported by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder.

Nature of Obligations of Lenders to Make Loans. The obligations of Lenders under this Agreement to make the Loans are several and are not joint or joint and several. All Revolving Credit Advances shall be made from the Lenders PRO RATA pro rata on the basis of their Percentage CommitmentCommitment Percentage. It is understood that no Lender shall be responsible for any default by any other Lender in its obligation to make or support Loans hereunder and that each Lender shall be obligated to make or support the Loans provided to be made or supported by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder.