Common use of Payment Obligation of Multicurrency Tranche Revolving Credit Lenders Clause in Contracts

Payment Obligation of Multicurrency Tranche Revolving Credit Lenders. Each Multicurrency Tranche Revolving Credit Lender severally agrees to pay to the Administrative Agent, for the account of the applicable Issuing Bank, on demand or upon notice in accordance with subsection (e) above, in immediately available funds in Dollars the amount of such Multicurrency Tranche Revolving Credit Lender’s Multicurrency Tranche Revolving Credit Commitment Percentage of each Drawing paid by such Issuing Bank under each Letter of Credit to the extent such amount is not reimbursed by the applicable Borrower pursuant to subsection (d); provided, however, that in respect of any Drawing under any Letter of Credit, the maximum amount that any Multicurrency Tranche Revolving Credit Lender shall be required to fund, whether as a Base Rate Loan or as a participation, shall not exceed such Multicurrency Tranche Revolving Credit Lender’s Multicurrency Tranche Revolving Credit Commitment Percentage of such Drawing except as otherwise provided in Section 3.9.(d)(ii). If the notice referenced in the second sentence of subsection (e) above is received by a Multicurrency Tranche Revolving Credit Lender not later than 12:00 noon New York City time, then such Multicurrency Tranche Revolving Credit Lender shall make such payment available to the Administrative Agent not later than 2:00 p.m. New York City time on the date of demand therefor; otherwise, such payment shall be made available to the Administrative Agent not later than 1:00 p.m. New York City time on the next succeeding Business Day. Each Multicurrency Tranche Revolving Credit Lender’s obligation to make such payments to the Administrative Agent under this subsection, whether as a Base Rate Loan or as a participation, and the Administrative Agent’s right to receive the same for the account of the applicable Issuing Bank, shall be absolute, irrevocable and unconditional and shall not be affected in any way by any circumstance whatsoever, including, without limitation, (i) the failure of any other Multicurrency Tranche Revolving Credit Lender to make its payment under this subsection, (ii) the financial condition of the Company or any other Loan Party, (iii) the existence of any Default or Event of Default, including any Event of Default described in Section 11.1.(e) or (f) , (iv) the termination of the Revolving Credit Commitments or (v) the delivery of Cash Collateral in respect of any Extended Letter of Credit. Each such payment to the Administrative Agent for the account of such Issuing Bank shall be made without any offset, abatement, withholding or deduction whatsoever.