Common use of Obligations Absolute; Failure to Fund Pro Rata Share Clause in Contracts

Obligations Absolute; Failure to Fund Pro Rata Share. The obligations of a Bank to fund its Pro Rata Share in accordance with the terms hereof shall be absolute, unconditional, and irrevocable and shall be performed strictly in accordance with the terms of the Loan Documents under all circumstances whatsoever, including the following circumstances: (a) any lack of validity of any Loan Document; (b) the occurrence of any Event of Default; (c) the existence of any claim, set-off, counterclaim, defense, or other right which such Bank, the Borrowers or any other Person may have; (d) the occurrence of any event that has or could reasonably be expected to have a Material Adverse Effect on the financial conditions or operation of any Bank and its subsidiaries; (e) the failure of any condition to an Advance or the issuance of a Letter of Credit under this Agreement to be satisfied; (f) the fact that after giving effect to the funding of the Pro Rata Share of the Outstanding Revolving Advances may exceed the Borrowing Base; or (g) any other circumstance whatsoever, whether or not similar to any of the foregoing. In the event the Defaulting Bank fails to furnish the Agent at the time called for a Request for Advance or Protective Advance with immediately available funds equal to its Commitment amount of such Request for Advance, the Agent or any other Bank shall have the right (but, between the Defaulting Bank on the one hand, and the Agent and any other Bank on the other hand, not the obligation) to advance such funds on behalf of the Defaulting Bank and any funds so advanced shall constitute a loan to the Defaulting Bank bearing interest at four percent (4%) in excess of the interest rate then payable by the Borrowers under the Loan from the date advanced by the Agent or other Bank and shall be due and payable by the Required Bank to the Agent or other Bank upon demand. The Agent shall be entitled to offset against any and all sums to be paid to such Defaulting Bank hereunder the amount due the Issuer or other Bank under this paragraph.

Obligations Absolute; Failure to Fund Pro Rata Share. The obligations of a Bank to fund its Pro Rata Share in accordance with the terms hereof shall be absolute, unconditional, and irrevocable and shall be performed strictly in accordance with the terms of the Loan Documents under all circumstances whatsoever, including the following circumstances: (a) any lack of validity of any Loan Document; (b) the occurrence of any Event of Default; (c) the existence of any claim, set-off, counterclaim, defense, or other right which such Bank, the Borrowers Borrower or any other Person may have; (d) the occurrence of any event that has or could reasonably be expected to have a Material Adverse Effect on the financial conditions or operation of any Bank and its subsidiaries; (e) the failure of any condition to an Advance or the issuance of a Letter of Credit under this Agreement to be satisfied; (f) the fact that after giving effect to the funding of the Pro Rata Share of the Outstanding Revolving Advances may exceed the Borrowing Base; or (g) 0 any other circumstance whatsoever, whether or not similar to any of the foregoing. In the event the Defaulting Bank fails to furnish the Agent at the time called for a Request for Advance or Protective Advance with immediately available funds equal to its Commitment amount of such Request for Advance, the Agent or any other Bank shall have the right (but, between the Defaulting Bank on the one hand, and the Agent and any other Bank on the other hand, not the obligation) to advance such funds on behalf of the Defaulting Bank and any funds so advanced shall constitute a loan to the Defaulting Bank bearing interest at four percent (4%) in excess of the interest rate then payable by the Borrowers Borrower under the Loan from the date advanced by the Agent or other Bank and shall be due and payable by the Required Bank to the Agent or other Bank upon demand. The Agent shall be entitled to offset against any and all sums to be paid to such Defaulting Bank hereunder the amount due the Issuer or other Bank under this paragraph.

Obligations Absolute; Failure to Fund Pro Rata Share. The obligations of a Bank to fund its Pro Rata Share in accordance with the terms hereof shall be absolute, unconditional, and irrevocable and shall be performed strictly in accordance with the terms of the Loan Documents under all circumstances whatsoever, including the following circumstances: (a) any lack of validity of any Loan Document; (b) the occurrence of any Event of Default; (c) the existence of any claim, set-off, counterclaim, defense, or other right which such Bank, the Borrowers Borrower or any other Person may have; (d) the occurrence of any event that has or could reasonably be expected to have a Material Adverse Effect on the financial conditions or operation of any Bank and its subsidiaries; (e) the failure of any condition to an Advance or the issuance of a Letter of Credit under this Agreement to be satisfied; (f) the fact that after giving effect to the funding of the Pro Rata Share of the Outstanding Revolving Advances may exceed the Borrowing Base; or (g) any other circumstance whatsoever, whether or not similar to any of the foregoing. In the event the Defaulting Bank fails to furnish the Agent at the time called for a Request for Advance or Protective Advance with immediately available funds equal to its Commitment amount of such Request for Advance, the Agent or any other Bank shall have the right (but, between the Defaulting Bank on the one hand, and the Agent and any other Bank on the other hand, not the obligation) to advance such funds on behalf of the Defaulting Bank and any funds so advanced shall constitute a loan to the Defaulting Bank bearing interest at four percent (4%) in excess of the interest rate then payable by the Borrowers Borrower under the Loan from the date advanced by the Agent or other Bank and shall be due and payable by the Required Bank to the Agent or other Bank upon demand. The Agent shall be entitled to offset against any and all sums to be paid to such Defaulting Bank hereunder the amount due the Issuer or other Bank under this paragraph.

Obligations Absolute; Failure to Fund Pro Rata Share. The obligations of a Bank to fund its Pro Rata Share in accordance with the terms hereof shall be absolute, unconditional, and irrevocable and shall be performed strictly in accordance with the terms of the Loan Documents under all circumstances whatsoever, including the following circumstances: (a) any lack of validity of any Loan Document; (b) the occurrence of any Event of Default; (c) the existence of any claim, set-off, counterclaim, defense, or other right which such Bank, the Borrowers Borrower or any other Person may have; (d) the occurrence of any event that has or could reasonably be expected to have a Material Adverse Effect on the financial conditions or operation of any Bank and its subsidiaries; (e) the failure of any condition to an Advance or the issuance of a Letter of Credit under this Agreement to be satisfied; (ft) the fact that after giving effect to the funding of the Pro Rata Share of the Outstanding Revolving Advances may exceed the Borrowing Base; or (g) any other circumstance whatsoever, whether or not similar to any of the foregoing. In the event the Defaulting Bank fails to furnish the Agent at the time called for a Request for Advance or Protective Advance with immediately available funds equal to its Commitment amount of such Request for Advance, the Agent or any other Bank shall have the right (but, between the Defaulting Bank on the one hand, and the Agent and any other Bank on the other hand, not the obligation) to advance such funds on behalf of the Defaulting Bank and any funds so advanced shall constitute a loan to the Defaulting Bank bearing interest at four percent (4%) in excess of the interest rate then payable by the Borrowers Borrower under the Loan from the date advanced by the Agent or other Bank and shall be due and payable by the Required Bank to the Agent or other Bank upon demand. The Agent shall be entitled to offset against any and all sums to be paid to such Defaulting Bank hereunder the amount due the Issuer or other Bank under this paragraph.