Common use of Revolving Credit Advances Automatic; Participations Clause in Contracts

Revolving Credit Advances Automatic; Participations. (i) In the event that Agent or any Lender shall make any payment on or pursuant to any Letter of Credit Obligation incurred for the benefit of a U.S. Borrower, regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding any Borrower’s failure to satisfy the conditions precedent set forth in Section 2, such payment shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable U.S. Borrower under Section 1.1(a) of the Agreement in Dollars in an amount equal to the Dollar Equivalent of such payment as of the date thereof, and each Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement.

Revolving Credit Advances Automatic; Participations. (i) In the event that the Administrative Agent or any Lender shall make any payment on or pursuant to any Letter of Credit Obligation incurred for the benefit of a U.S. Domestic Borrower, regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding any Borrower’s failure to satisfy the conditions precedent set forth in Section 2, such payment shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable U.S. Domestic Borrower under Section 1.1(a) of the Agreement in Dollars in an amount equal to the Dollar Equivalent of such payment as of the date thereof, and each Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement.

Revolving Credit Advances Automatic; Participations. (i) In the event that Agent or any Lender shall make any payment on or pursuant to any Letter of Credit Obligation incurred for the benefit of a U.S. Domestic Borrower, regardless of whether a Default or Event of Default has occurred and is continuing and notwithstanding any Borrower’s failure to satisfy the conditions precedent set forth in Section 2, such payment shall then be deemed automatically to constitute a Revolving Credit Advance to the applicable U.S. Domestic Borrower under Section 1.1(a) of the Agreement in Dollars in an amount equal to the Dollar Equivalent of such payment as of the date thereof, and each Lender shall be obligated to pay its Pro Rata Share thereof in accordance with the Agreement.