Common use of Participation of Banks Clause in Contracts

Participation of Banks. Each such payment made by a Bank shall be treated as the purchase by such Bank of a participating interest in the Borrower's Reimbursement Obligation under Section 4.2 in an amount equal to such payment. Each Bank shall share in accordance with its participating interest in any interest which accrues pursuant to Section 4.2.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Republic Engineered Steels Inc), Revolving Credit Agreement (Rti Capital Corp)

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Participation of Banks. Each such payment made by a Bank shall be treated as the purchase by such Bank of a participating interest in the Borrower's Reimbursement Obligation under Section 4.2 ss.3.2 in an amount equal to such payment. Each Bank shall share in accordance with its participating interest in any interest which accrues pursuant to Section 4.2ss.3.2.

Appears in 1 contract

Samples: Revolving Credit Agreement (Provant Inc)

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Participation of Banks. Each such payment made by a Bank shall be treated as the purchase by such Bank of a participating interest in the Borrower's Borrowers' Reimbursement Obligation under Section 4.2 5.2 in an amount equal to such payment. Each Bank shall share in accordance with its participating interest in any interest which accrues pursuant to Section 4.25.2.

Appears in 1 contract

Samples: Credit Agreement (Sensormatic Electronics Corp)

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