Common use of Reimbursement by US Lenders Clause in Contracts

Reimbursement by US Lenders. To the extent that US Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a)(i) or (b)(i) of this Section 14.03 to be paid by it to the Administrative Agent (or any sub-agent thereof), the Arranger, any Swingline Lender or any Related Party of any of the foregoing, each US Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Swingline Lender or such Related Party, as the case may be, such US Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party); provided that (i) the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or 115 any such sub-agent), such Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or such Swingline Lender in connection with such capacity and (ii) such indemnity for such Swingline Lender shall not include losses incurred by such Swingline Lender due to one or more US Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.20(d) (it being understood that this proviso shall not affect such Swingline Lender’s rights against any US Defaulting Lender). The obligations of the US Lenders under this paragraph (c) are subject to the provisions of Section 2.17. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total US Revolving Exposure and unused US Commitments at the time.

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

AutoNDA by SimpleDocs

Reimbursement by US Lenders. To the extent that US Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a)(i) or (b)(i) of this Section 14.03 to be paid by it to the Administrative Agent (or any sub-agent thereof), the any Issuing Bank, any Arranger, any Swingline Lender or any Related Party of any of the foregoing, each US Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Bank, Arranger, Swingline Lender or such Related Party, as the case may be, such US Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party); provided that (i) with respect to such unpaid amounts owed to any Issuing Bank or Swingline Lender solely in its capacity as such, only the US Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such US Lenders’ US Pro Rata Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), (ii) the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or 115 any such sub-agent), such any Issuing Bank, any Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) ), such Issuing Bank or such Swingline Lender in connection with such capacity and (iiiii) such indemnity for such Swingline Lender shall not include losses incurred by such Swingline Lender due to one or more US Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.20(d) (it being understood that this proviso shall not affect such Swingline Lender’s rights against any US Defaulting Lender). The obligations of the US Lenders under this paragraph (c) are subject to the provisions of Section 2.17. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total US Revolving Exposure and unused US Commitments at the time.

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

Reimbursement by US Lenders. To the extent that US Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a)(i) or (b)(i) of this Section 14.03 to be paid by it to the Administrative Agent, the US Collateral Agent (or any sub-agent thereof), the any US Issuing Bank, any Arranger, any Swingline Lender or any Related Party of any of the foregoing, each US Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Bank, Arranger, Swingline Lender or such Related Party, as the case may be, such US Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party); provided that with respect to such unpaid amounts owed to any US Issuing Bank or Swingline Lender solely in its capacity as such, only the US Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such US Lenders’ US Pro Rata Percentage (i) determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or 115 any such sub-agent), such any US Issuing Bank, any Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) ), such US Issuing Bank or such Swingline Lender in connection with such capacity and (ii) such indemnity for such Swingline Lender shall not include losses incurred by such Swingline Lender due to one or more US Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.20(d) (it being understood that this proviso shall not affect such Swingline Lender’s rights against any US Defaulting Lender). The obligations of the US Lenders under this paragraph (c) are subject to the provisions of Section 2.17. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total US Revolving Exposure and unused US Commitments at the time.. 190

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

Reimbursement by US Lenders. To the extent that US Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a)(i) or (b)(i) of this Section 14.03 to be paid by it to the Administrative Agent (or any sub-agent thereof), the any Issuing Bank, any Arranger, any Swingline Lender or any Related Party of any of the foregoing, each US Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Bank, Arranger, Swingline Lender or such Related Party, as the case may be, such US Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party); provided that (i) with respect to such unpaid amounts owed to any Issuing Bank or Swingline Lender solely in its capacity as such, only the US Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such US Lenders’ US Pro Rata Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), (ii) the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or 115 any such sub-agent), such any Issuing Bank, any Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) ), such Issuing Bank or such Swingline Lender in connection with such capacity and (iiiii) such indemnity for such Swingline Lender shall not include losses incurred by such Swingline Lender due to one or more US Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.20(d) (it being understood that this proviso shall not affect such Swingline Lender’s rights against any US Defaulting Lender). The obligations of the US Lenders under this paragraph (c) are subject to the provisions of Section 2.17. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total US Revolving Exposure and unused US Commitments at the time.. 139

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

AutoNDA by SimpleDocs

Reimbursement by US Lenders. To the extent that US Borrower for any reason fails to indefeasibly pay any amount required under paragraph (a)(i) or (b)(i) of this Section 14.03 to be paid by it to the Administrative Agent (or any sub-agent thereof), the any US Issuing Bank, any Arranger, any Swingline Lender or any Related Party of any of the foregoing, each US Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Issuing Bank, Arranger, Swingline Lender or such Related Party, as the case may be, such US Lender’s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount (such indemnity shall be effective whether or not the related losses, claims, damages, liabilities and related expenses are incurred or asserted by any party hereto or any third party); provided that (i) with respect to such unpaid amounts owed to any US Issuing Bank or Swingline Lender solely in its capacity as such, only the US Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such US Lenders’ US Pro Rata Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), (ii) the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or 115 any such sub-agent), such any US Issuing Bank, any Swingline Lender in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) ), such US Issuing Bank or such Swingline Lender in connection with such capacity and (iiiii) such indemnity for such Swingline Lender shall not include losses incurred by such Swingline Lender due to one or more US Lenders defaulting in their obligations to purchase participations of Swingline Exposure under Section 2.20(d) (it being understood that this proviso shall not affect such Swingline Lender’s rights against any US Defaulting Lender). The obligations of the US Lenders under this paragraph (c) are subject to the provisions of Section 2.17. For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total US Revolving Exposure and unused US Commitments at the time.

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

Time is Money Join Law Insider Premium to draft better contracts faster.