Common use of Participation in Fees and Collateral; Relationship Clause in Contracts

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.

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 (other than the Letter of Credit Issuance Fee). This These fee shall be due and payable promptly, after such Fee is Fees are 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.