Common use of Obligation of Lenders Clause in Contracts

Obligation of Lenders. The obligation of each Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such Lender’s Ratable Share of the aggregate Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is Issued, and each Syndicated Letter of Credit shall expressly so provide; provided that each Fronting Bank shall be severally (and not jointly) liable for its Ratable Share of the Stated Amount of such Syndicated Letter of Credit plus the Ratable Share of each Non-NAIC Lender for which it is fronting pursuant to Section 3.1(i). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(b) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability of any Lender under any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignment, as the case may be. The failure of any Lender to make any L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other Lender of its corresponding obligation, if any, hereunder to do so on such date, but no Lender shall be responsible for the failure of any other Lender to make its L/C Disbursement in respect of any Syndicated Letter of Credit.

Obligation of Lenders. The obligation of each Lender any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LenderLC Issuer’s Ratable Share Applicable Percentage of the aggregate Stated Amount stated amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is Issued, issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide; provided that . Absent the prior written consent of each Fronting Bank shall be severally (and not jointly) liable for its Ratable Share of the Stated Amount of such LC Issuer, no Syndicated Letter of Credit plus may be issued that would vary the Ratable Share several and not joint nature of each Non-NAIC Lender for which it is fronting pursuant to the obligations of the LC Issuers thereunder as provided in this Section 3.1(i3.1(c). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(b) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability of any Lender under any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignment, as the case may be. The failure of any Lender LC Issuer to make any L/C LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other Lender LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no Lender LC Issuer shall be responsible for the failure of any other Lender LC Issuer to make its L/C LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Account Party under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of each Lender any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LenderLC Issuer’s Ratable Share Applicable Percentage of the aggregate Stated Amount undrawn amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is Issued, and each Syndicated Letter of Credit shall expressly so provide; provided that . Absent the prior written consent of each Fronting Bank shall be severally (and not jointly) liable for its Ratable Share of the Stated Amount of such LC Issuer, no Syndicated Letter of Credit plus may be issued that would vary the Ratable Share several and not joint nature of each Non-NAIC Lender for which it is fronting pursuant to Section 3.1(ithe obligations of the LC Issuers thereunder as provided in this SECTION 3.02(c). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(b) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability of any Lender under any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignment, as the case may be. The failure of any Lender LC Issuer to make any L/C LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other Lender LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no Lender LC Issuer shall be responsible for the failure of any other Lender LC Issuer to make its L/C LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to SECTION 11.06 or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of each any Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such Issuing Lender’s Ratable Share of the aggregate Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is Issued, Issued (subject to any amendments to such Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide; provided that . Absent the prior written consent of each Fronting Bank shall be severally (and not jointly) liable for its Ratable Share of the Stated Amount of such Syndicated Issuing Lender, no Letter of Credit plus may be Issued that would vary the Ratable Share several and not joint nature of each Non-NAIC Lender for which it is fronting pursuant to the obligations of the Issuing Lenders thereunder as provided in this Section 3.1(i2.01(c). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(b) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability of any Lender under any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignment, as the case may be. The failure of any Issuing Lender to make any L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no Issuing Lender shall be responsible for the failure of any other Issuing Lender to make its L/C Disbursement in respect of any Syndicated Letter of Credit. In connection with any change in Commitments pursuant to Section 10.06 or any other event or circumstance resulting in a change in the Ratable Shares of the Lenders, the L/C Agent, the assigning Lender and the Borrower shall use commercially reasonable efforts to obtain the consent of Xxxxx'x and have each outstanding Letter of Credit amended or replaced to reflect the new Ratable Shares of the applicable Issuing Lenders effective concurrently with or, to the extent agreed to in writing by the L/C Agent, the assigning Lender and the assignee, promptly following the effective date of such change. Until a Letter of Credit has been so amended or replaced with the consent of Xxxxx'x, the Issuing Lenders (both before and after giving effect to the change in Ratable Shares) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Letter of Credit (including each drawing made thereunder and the obligations of the Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Ratable Shares.

Obligation of Lenders. The obligation of each any Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such Issuing Lender’s Ratable Share 's pro rata share (based on the percentage of the aggregate Tranche 1 Commitments or Tranche 2 Commitments, as applicable, represented by such Xxxxxx's Tranche 1 Commitment or Tranche 2 Commitment, as applicable) of the aggregate Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is Issued, issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide; provided that . Absent the prior written consent of each Fronting Bank shall be severally (and not jointly) liable for its Ratable Share of the Stated Amount of such Issuing Lender, no Syndicated Letter of Credit plus may be issued that would vary the Ratable Share several and not joint nature of each Non-NAIC Lender for which it is fronting pursuant to the obligations of the Issuing Lenders thereunder as provided in this Section 3.1(i3.3(b). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(b) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability of any Lender under any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignment, as the case may be. The failure of any Issuing Lender to make any L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no Issuing Lender shall be responsible for the failure of any other Issuing Lender to make its L/C Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in 8470562v6 24740.00061 Commitments pursuant to Section 2.20 or 2.21, the L/C Agent shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new pro rata shares of the applicable Lenders in accordance with their applicable Commitments. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Commitments) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the Borrowers under this Agreement with respect thereto and any Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Commitments.

Obligation of Lenders. The obligation of In the event any Unreimbursed Amount exists, then LC Issuer shall so notify Administrative Agent, which, in turn, shall promptly notify each Lender of the Unreimbursed Amount and such Lender’s Commitment Percentage thereof. Each Lender shall promptly and unconditionally make available to Administrative Agent (for the account of LC Issuer) in immediately available funds such Lender’s Commitment Percentage of such unpaid reimbursement obligation, which funds shall be paid to Administrative Agent on or before the close of business on the Business Day on which such notice was given by Administrative Agent to Lenders (if given prior to 1:00 p.m., Dallas, Texas time) or on the next succeeding Business Day (if notice was given after 1:00 p.m., Dallas, Texas time). All such amounts payable by any such Lender shall include interest thereon accruing at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by LC Issuer in accordance with banking industry rules on interbank compensation from the day the applicable draft is paid by LC Issuer to (but not including) the date such amount is paid by such Lender to Administrative Agent. Until each Lender funds its participation pursuant to this Section 2.2(e) to reimburse LC Issuer for any amount drawn under any Syndicated Letter Existing LC, interest in respect of Credit such Lender’s Commitment Percentage of such amount shall be several and not joint and shall be solely for the account of LC Issuer; provided that, once a Lender funds its participation (together with any interest owed with respect thereto) in an amount equal accordance with this Section 2.2(e), then interest with respect to such Lender’s Ratable Share Commitment Percentage of the aggregate Stated Unreimbursed Amount shall accrue for the account of such Syndicated Letter Lender from the date such funding from such Lender was due hereunder. The obligations of Credit at Lenders to make payments to Administrative Agent (for the time such Syndicated Letter account of Credit is Issued, and each Syndicated Letter of Credit shall expressly so provide; provided that each Fronting Bank LC Issuer) with respect to Existing LCs shall be severally (irrevocable and not jointlysubject to any qualification or exception whatsoever (other than the gross negligence or willful misconduct of LC Issuer) liable for its Ratable Share and shall be made in accordance with the terms and conditions of this Agreement under all circumstances, including any of the Stated Amount following circumstances: (i) any lack of such Syndicated Letter validity or enforceability of Credit plus this Agreement or any of the Ratable Share of each Non-NAIC Lender for which it is fronting pursuant to Section 3.1(i). No increase of Commitments under Section 2.19, assignment of Commitments under Section 2.18 or 11.6(bLoan Documents; (ii) or reallocation of Credit Exposure under Section 2.20 shall change or affect the liability existence of any claim, setoff, defense, or other right which such Lender under may have at any outstanding Syndicated Letter of Credit until such Syndicated Letter of Credit is amended giving effect to such increase or assignmenttime against a beneficiary named in an Existing LC, as the case may be. The failure any transferee of any Lender Existing LC (or any Person for whom any such transferee may be acting), LC Issuer, any Lender, or any other Person, whether in connection with this Agreement, any Existing LC, the transactions contemplated herein, or any unrelated transactions (including any underlying transaction between Borrower and the beneficiary named in any such Existing LC); (iii) any draft, certificate, or any other document presented under the Existing LC proving to make be forged, fraudulent, invalid, or insufficient in any L/C Disbursement respect or any statement therein being untrue or inaccurate in respect any respect; and (iv) the occurrence of any Syndicated Letter Default or Event of Credit on any date shall not relieve any other Lender of its corresponding obligation, if any, hereunder to do so on such date, but no Lender shall be responsible for the failure of any other Lender to make its L/C Disbursement in respect of any Syndicated Letter of CreditDefault.