Participation in Fees and Collateral; Relationship Sample Clauses

Participation in Fees and Collateral; Relationship. Agent shall pay each Participating Bank its Pro Rata Share of each Trade Letter of Credit Fee and Standby Letter of Credit Fee. This fee shall be due and payable promptly, after such Fee is paid to Agent, in arrears on each Quarterly Date. The relationship between Letter of Credit Issuing Bank (in its capacity as seller of a Participation pursuant to this Article IV) and each Participating Bank (in its capacity as purchaser of a Participation pursuant to this Article IV) is and shall be that of a purchaser and seller of a property interest and not a creditor-debtor relationship or joint venture. Letter of Credit Issuing Bank (in its capacity as seller of a Participation pursuant to this Article IV) shall owe each Participating Bank (in its capacity as purchaser of a Participation pursuant to this Article IV) no duty except as specifically set forth in this Article IV.
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Participation in Fees and Collateral; Relationship. Chase shall pay each Participating Bank its Pro Rata Share of each Trade Letter of Credit Fee and Standby Letter of Credit Fee. This fee shall be due and payable promptly, after such Fee is paid to Chase in arrears on each Quarterly Date. The relationship between Chase (in its capacity as seller) of Participation pursuant to this Article IV) and each Participating Bank (in its capacity as purchaser of a Participation pursuant to this Article IV) is and shall be that of a purchaser and seller of a property interest and not a creditor-debtor relationship or joint venture. Chase (in its capacity as seller of a Participation pursuant to this Article IV) shall owe each Participating Bank (in its capacity as purchaser of Participation pursuant to this Article IV) no duty except as specifically set forth in this Article IV.
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Participation in Fees and Collateral; Relationship. Each Participating Bank will be entitled to receive its Pro Rata Share of Trade Letter of Credit Fees paid by the Borrower to Chase. Each Participating Bank will be entitled to receive its Pro Rata Share of Standby Letter of Credit Fees paid by the Borrower to Chase. Each Participating Banks share of such Fees will be remitted by Chase to such Participating Bank promptly after Chase receives payment of such fees from the Borrower. Each Participating Bank will not be entitled to receive any of the letter of credit fronting fee or other customary fees or charges charged by Chase on a Letter of Credit. In addition to the foregoing, each Participating Bank hereby purchases, and Chase hereby sells to each Participating Bank, an undivided fractional interest equal to such Participating Bank's Pro Rata Share in the Collateral and all the other Loan Documents, as well as all additional security specifically assigned to Chase to secure the Letters of Credit. The relationship between Chase (in its capacity as seller of Participations pursuant to this Article V) and each Participating Bank (in its capacity as purchaser of Participations pursuant to this Article V) is and shall be that of a purchaser and seller of a property interest and not a creditor-debtor relationship or joint venture. Chase (in its capacity as seller of Participations pursuant to this Article V) shall owe each Participating Bank (in its capacity as purchaser of Participations pursuant to this Article V) no duty except as specifically set forth in this Article V.
Sample 1
Participation in Fees and Collateral; Relationship. Each Participating Lender will be entitled to receive a share of the Letter of Credit Fee, at the time each payment of the Letter of Credit Fee is paid by the Borrower pursuant to Section 3.03, equal to the total of (1) such Letter of Credit Fee multiplied by seven eighths of one percent (.875%) multiplied by (2) its Share (determined at the time such Fee is payable to the Issuing Bank pursuant to Section 3.03). Agent shall pay the Issuing Bank and each Participating Lender the portion of the Letter of Credit Fee to which it is entitled within three (3) Business Days of receipt by Agent of such Fee. In addition to the foregoing, each Participating Lender hereby purchases, and the Issuing Bank hereby sells to each Participating Lender, an undivided fractional participation interest equal to such Participating Lender's Share in the Collateral and any Cash Collateral and all the other Loan Documents, as well as all additional security specifically assigned to the Issuing Bank to secure the Letters of Credit. The relationship between the Issuing Bank (in its capacity as seller of Participations pursuant to this Article IV) and each Participating Lender (in its capacity as purchaser of Participations pursuant to this Article IV) is and shall be that of a purchaser and seller of a property interest and not a creditor-debtor relationship or joint venture. The Issuing Bank (in its capacity as seller of Participations pursuant to this Article IV) shall owe each Participating Lender (in its capacity as purchaser of Participations pursuant to this Article IV) no duty except as specifically set forth in this Article IV.
Sample 1
Participation in Fees and Collateral; Relationship. Each Lender will be entitled to receive only the portions of the five-sixteenths of one percent (5/16%) drawing fee for each Letter of Credit paid by the Borrowers to Chase for the account of the Lenders referred to in Section 3.03. Chase shall pay each Lender its share of each Letter of Credit Fee, in arrears promptly after the end of each month. In addition to the foregoing, each Lender hereby purchases, and Chase hereby sells to each Lender, an undivided fractional interest equal to such Lender's Pro Rata Share in the Facility Documents, as well as all additional security specifically assigned to Chase to secure the Letters of Credit, and the Letters of Indemnity, as the case may be. The relationship between Chase (in its capacity as seller of Participations pursuant to this Article 5) and each Lender (in its capacity as purchaser of Participations pursuant to this Article 5) is and shall be that of a purchaser and seller of a property interest and not a creditor-debtor relationship or joint venture. Chase (in its capacity as seller of Participations pursuant to this Article 5) shall owe each Lender (in its capacity as purchaser of Participations pursuant to this Article 5) no duty except as specifically set forth in this Article 5.
Sample 1

Related to Participation in Fees and Collateral; Relationship

  • Participation in Retirement, Medical and Other Plans The Executive shall participate in any plan that the Company maintains for the benefit of its employees if the plan relates to (i) pension, profit-sharing, or other retirement benefits, (ii) medical insurance or the reimbursement of medical or dependent care expenses, or (iii) other group benefits, including disability and life insurance plans.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Participation in Benefit Plans During the Term hereof, Executive shall be entitled to participate in any group insurance, hospitalization, medical, dental, health, accident, disability, or similar plan or program of the Company now existing or established hereafter to the extent that he is eligible under the general provisions thereof. The Company may, in its sole discretion and from time to time, amend, eliminate, or establish additional benefit programs as it deems appropriate. Executive shall also participate in all standard fringe benefits offered by the Company to its salaried executives.

  • Participation in Plans Notwithstanding any other provision of this Agreement, the Executive shall have the right to participate in any and all of the plans or programs made available by the Company (or it subsidiaries, divisions or affiliates) to, or for the benefit of, executives (including the annual stock option and restricted stock grant programs) or employees in general, on a basis consistent with other senior executives.

  • Nature of Participation and Reimbursement Obligations Each Lender’s obligation in accordance with this Agreement to make the Revolving Advances or Participation Advances as a result of a drawing under a Letter of Credit, and the obligations of Borrowers to reimburse Agent upon a draw under a Letter of Credit, shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Section 2.16 under all circumstances, including the following circumstances:

  • No Participation in Management No Limited Partner (other than a General Partner if it has acquired an interest of a Limited Partner) shall take part in the management of the Partnership’s business, transact any business in the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership.

  • Reimbursement and Participations (a) The Borrower hereby unconditionally agrees to pay to the Issuing Bank immediately on demand at the Principal Office all amounts required to pay all drafts drawn or purporting to be drawn under the Letters of Credit and all reasonable expenses incurred by the Issuing Bank in connection with the Letters of Credit, and in any event and without demand to place in possession of the Issuing Bank (which shall include Advances under the Revolving Credit Facility if permitted by SECTION 2.1 and Swing Line Loans if permitted by SECTION 2.4) sufficient funds to pay all debts and liabilities arising under any Letter of Credit. The Issuing Bank agrees to give the Borrower prompt notice of any request for a draw under a Letter of Credit. The Issuing Bank may charge any account the Borrower may have with it for any and all amounts the Issuing Bank pays under a Letter of Credit, plus charges and reasonable expenses as from time to time agreed to by the Issuing Bank and the Borrower; provided that to the extent permitted by SECTION 2.1(c)(iii) and SECTION 2.4, amounts shall be paid pursuant to Advances under the Revolving Credit Facility or, if the Borrower shall elect, by Swing Line Loans. The Borrower agrees to pay the Issuing Bank interest on any Reimbursement Obligations not paid when due hereunder at the Default Rate.

  • Obligations of the Employer Upon Termination The following provisions describe the obligations of the Employer to the Executive under this Agreement upon termination of employment. However, except as explicitly provided in this Agreement, nothing in this Agreement shall limit or otherwise adversely affect any rights which the Executive may have under applicable law, under any other agreement with the Employer or any of its affiliates or subsidiaries, or under any compensation or benefit plan, program, policy or practice of the Employer or any of its affiliates or subsidiaries.

  • Participation in Future Financing (a) From the date hereof until the date that is the 12 month anniversary of the Effective Date, upon any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (a “Subsequent Financing”), each Purchaser shall have the right to participate in up to an amount of the Subsequent Financing equal to 100% of the Subsequent Financing (the “Participation Maximum”) on the same terms, conditions and price provided for in the Subsequent Financing.

  • Lenders’ Participation in Letters of Credit Immediately upon the issuance by the Issuing Lender of any Letter of Credit each Lender shall be deemed to have irrevocably and unconditionally purchased and received from the Issuing Lender, without recourse or warranty, an undivided interest and participation to the extent of such Lender’s Commitment Percentage of the liability of the Issuing Lender with respect to such Letter of Credit and each Lender thereby shall absolutely, unconditionally and irrevocably assume, as primary obligor and not as surety, and shall be unconditionally obligated to the Issuing Lender to pay and discharge when due, such Lender’s Commitment Percentage of the Issuing Lender’s liability under such Letter of Credit. In addition, upon the making of each payment by a Lender to the Agent for the account of the Issuing Lender in respect of any Letter of Credit pursuant to Section 2.3(j), such Lender shall, automatically and without any further action on the part of the Agent, the Issuing Lender or such Lender, acquire (i) a participation in an amount equal to such payment in the Reimbursement Obligation owing to the Issuing Lender by the Borrower in respect of such Letter of Credit and (ii) a participation in a percentage equal to such Lender’s Commitment Percentage in any interest or other amounts payable by the Borrower in respect of such Reimbursement Obligation (other than the Fees payable to the Issuing Lender pursuant to Section 3.6(b)(ii)).

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