Common use of Participation Commitment Clause in Contracts

Participation Commitment. Immediately upon the issuance of each Letter of Credit by an LC Issuer (or an amendment to a Letter of Credit increasing the Stated Amount thereof), the Committed Lenders of each Lender Group shall be deemed to, and hereby irrevocably and unconditionally agree to, purchase from such LC Issuer, a participation in such Letter of Credit (as it may be so amended) and each drawing thereunder in an amount equal to their respective Lender Group Percentages of the Stated Amount of such Letter of Credit and the amount of such drawing, respectively. Such participations in such LC Credit Extensions by each Committed Lender shall constitute an agreement by such Committed Lender to make a Loan under Section 2.02 only in the event that (i) the related Letter of Credit is subsequently drawn upon and (ii) the Conduit Lenders in its Lender Group do not fund the Lender Group Percentage of a Reimbursement Borrowing in connection with such draw. In the event any Letter of Credit expires or is surrendered to the applicable LC Issuer in accordance with its terms without being drawn (in whole or in part) then, in such event, the foregoing obligation of the Committed Lenders to make such Loan in respect of such Letter of Credit shall expire to the extent of the face amount thereof which has expired or been so surrendered.

Participation Commitment. Immediately upon the issuance of each Letter of Credit by an LC L/C Issuer (or an amendment to a Letter of Credit increasing the Stated Amount thereof), the each Committed Lenders of each Lender Group Purchaser shall be deemed to, and hereby irrevocably and unconditionally agree agrees to, purchase from such LC L/C Issuer, a participation in such Letter of Credit (as it may be so amended) and each drawing thereunder in an amount equal to their respective Lender Group Percentages such Committed Purchaser’s Pro Rata Share of the Stated Amount of such Letter of Credit and the amount of such drawing, respectively. Such participations in such LC Credit Extensions L/C Purchases by each Committed Lender Purchaser shall constitute an agreement by such Committed Lender Purchaser to make a Loan an Incremental Purchase under Section 2.02 only 1.2 in the event that (i) the related Letter of Credit is subsequently drawn upon and (ii) the Conduit Lenders Seller otherwise fails to fulfill its Reimbursement Obligations in its Lender Group do not fund the Lender Group Percentage respect of a Reimbursement Borrowing such draw at such time in connection with such drawaccordance herewith. In the event any Letter of Credit expires or is surrendered to the applicable LC L/C Issuer in accordance with its terms without being drawn (in whole or in part) then, in such event, the foregoing obligation of the Committed Lenders Purchasers to make such Loan Incremental Purchase in respect of such Letter of Credit shall expire to the extent of the face amount thereof which has expired or been so surrendered.

Participation Commitment. Immediately upon the issuance of each Letter of Credit by an LC L/C Issuer (or an amendment to a Letter of Credit increasing the Stated Amount thereof), the each Committed Lenders of each Lender Group Purchaser shall be deemed to, and hereby irrevocably and unconditionally agree agrees to, purchase from such LC L/C Issuer, a participation in such Letter of Credit (as it may be so amended) and each drawing thereunder in an amount equal to their respective Lender Group Percentages such Committed Purchaser’s Pro Rata Share of the Stated Amount of such Letter of Credit and the amount of such drawing, respectively. Such participations in such LC Credit Extensions L/C Purchases by each Committed Lender Purchaser shall constitute an agreement by such Committed Lender Purchaser to make a Loan an Incremental Purchase under Section 2.02 only 1.2 in the event that (i) the related Letter of Credit is subsequently drawn upon and (ii) the Conduit Lenders Seller otherwise fails to fulfill its Reimbursement Obligations in its Lender Group do not fund the Lender Group Percentage respect of a Reimbursement Borrowing such draw at such time in connection with such drawaccordance herewith. In the event any Letter of Credit expires or is surrendered to the applicable LC L/C Issuer in accordance with its terms without being drawn (in whole or in part) then, in such event, the foregoing obligation of the Committed Lenders Purchasers to make such Loan Incremental Purchase in respect of such Letter of Credit shall expire to the extent of the face amount thereof which has expired or been so surrendered; provided, that it is understood that in the event of a drawing under a Letter of Credit which the Seller fails to reimburse, the applicable Purchasers shall make funds available to the related L/C Issuer pursuant to the terms of Section 1.5(f)(ii).