Common use of Participation Obligations Unconditional Clause in Contracts

Participation Obligations Unconditional. (a) Each U.S. Bank's --------------------------------------- obligation to make available to the U.S. Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 shall be absolute and unconditional and shall not be ------------- affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Security Agreement (United Rentals North America Inc)

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Participation Obligations Unconditional. (a) Each U.S. Bank's --------------------------------------- obligation to make available to the U.S. Administrative Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 SECTION 2.4.3 shall be absolute and unconditional and shall not be ------------- affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Credit Agreement (U S Plastic Lumber Corp)

Participation Obligations Unconditional. (a) Each U.S. Bank's --------------------------------------- obligation to make available to the U.S. Administrative Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 2.4.3 shall be absolute and unconditional and shall not be ------------- affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments (provided that such termination occurred after the making of such Swing Line Loans) or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Synagro Technologies Inc)

Participation Obligations Unconditional. (a) Each U.S. Bank's --------------------------------------- obligation to make available to the U.S. Administrative Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 SECTION 2.4.3 shall be absolute and unconditional and shall not be ------------- affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

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Participation Obligations Unconditional. (a) Each U.S. Revolving Bank's --------------------------------------- obligation to make available to the U.S. Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 2.4.3 shall be absolute and unconditional and shall not be ------------- affected by ------------- any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Revolving Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereofSubsidiary, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

Participation Obligations Unconditional. (a) Each U.S. Bank's obligation --------------------------------------- obligation to make available to the U.S. Agent for the account of the Swing Line Bank the amount of its participation interest in all Swing Line Loans as provided in Section 2.5.3 ------- 2.4.3 shall be absolute and unconditional and shall not be ------------- affected by any ----- circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right which such U.S. Bank may have against the Swing Line Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Company or any Subsidiary thereofSubsidiary, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

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