Common use of Participation of Lenders Clause in Contracts

Participation of Lenders. A. BASIS OF PARTICIPATION ---------------------- Subject to the provisions of this Agreement, each Lender will participate in each Advance in the proportion which its Commitment as at the Drawdown Date bears to the undrawn portion of the Total Commitments of all Lenders as at such date. None of the Lenders is obliged to participate in an Advance to the extent that to do so would result in the amount outstanding to it under the Facility exceeding its Commitment in respect of the Facility. B. LENDING OFFICE -------------- 1. Each Lender will participate in each Advance as aforesaid through its Lending Office. 2. If any Lender changes any Lending Office, that Lender agrees to notify the Agent and the Borrower promptly of such change and, until it does so, the Agent and the Borrower shall be entitled to assume that no such change has taken place.