Common use of Participation Obligations Unconditional Clause in Contracts

Participation Obligations Unconditional. (a) Each Lender's obligation to make Base Rate Committed Loans pursuant to Section 2.20 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Company or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of the Company or any other Person; (d) any breach of this Agreement or any other Loan Document by the Company or any other Lender; (e) any inability of the Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 2 contracts

Samples: Credit Agreement (Truserv Corp), Credit Agreement (Truserv Corp)

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Participation Obligations Unconditional. (a) Each Lender's obligation to make Base Rate Committed Loans pursuant to Section 2.20 2.15 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 2.16 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Company or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of the Company or any other Person; (d) any breach of this Agreement or any other Loan Document by the Company or any other Lender; (e) any inability of the Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Truserv Corp)

Participation Obligations Unconditional. (a1) Each LenderBank's obligation to make Base Rate Committed Loans pursuant to Section 2.20 2.16 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 2.17 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (ai) any set-off, counterclaim, recoupment, defense or other right which such Lender Bank may have against the Swing Line LenderBank, the Company or any other Person for any reason whatsoever; (bii) the occurrence or continuance of an Event of Default or Unmatured Event of Default; (ciii) any adverse change in the condition (financial or otherwise) of the Company or any other Person; (div) any breach of this Agreement or any other Loan Document by the Company or any other LenderPerson; (ev) any inability of the Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any such Loan is to be refunded made or any participation interest therein is to be purchased; or (fvi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Dreyers Grand Ice Cream Inc)

Participation Obligations Unconditional. (a) Each LenderBank's obligation to make Base Rate Committed Loans pursuant to Section 2.20 2.16 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 2.17 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (ai) any set-off, counterclaim, recoupment, defense or other right which such Lender Bank may have against the Swing Line LenderBank, the Company or any other Person for any reason whatsoever; (bii) the occurrence or continuance of an a Default or Event of Default; (ciii) any adverse change in the condition (financial or otherwise) of the Company or any other Person; (div) any breach of this Agreement or any other Loan Document by the Company or any other LenderPerson; (ev) any inability of the Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any such Loan is to be refunded made or any participation interest therein is to be purchased; or (fvi) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Dreyers Grand Ice Cream Holdings Inc)

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Participation Obligations Unconditional. (a) Each Lender's obligation to make Base Rate Committed Revolving Loans pursuant to Section 2.20 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Company any Loan Party or any other Person for any reason whatsoever; (b) the occurrence or continuance of an Event of Default; (c) any adverse change in the condition (financial or otherwise) of the Company any Loan Party or any other Person; (d) any breach of this Agreement or any other Loan Document by the Company any Loan Party or any other Lender; (e) any inability of the Company any Loan Party to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any Loan is to be refunded or any participation interest therein is to be purchased; or (f) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Culligan Water Technologies Inc)

Participation Obligations Unconditional. (a) a Each Lender's obligation to make Base Rate Committed Loans pursuant to Section 2.20 2.18 and/or to purchase participation interests in Swing Line Loans pursuant to Section 2.21 2.19 shall be absolute and unconditional and shall not be affected by any circumstance whatsoever, including (a) i any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Company or any other Person for any reason whatsoever; (b) ii the occurrence or continuance of an Event of Default or Unmatured Event of Default; (c) iii any adverse change in the condition (financial or otherwise) otherwise of the Company or any other Person; (d) iv any breach of this Agreement or any other Loan Document by the Company or any other LenderPerson; (e) v any inability of the Company to satisfy the conditions precedent to borrowing set forth in this Agreement on the date upon which any such Loan is to be refunded made or any participation interest therein is to be purchased; or (f) vi any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

Appears in 1 contract

Samples: Long Term Credit Agreement (Tenneco Packaging Inc)

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