Common use of Rights and Obligations of a Lender on a Participation Clause in Contracts

Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, and such Lender shall continue to perform fully all of its obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender and such Participant relating thereto.

Appears in 2 contracts

Samples: Credit Agreement (Ovintiv Inc.), Credit Agreement (Encana Corp)

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Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, and such Lender shall continue to perform fully all of its obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender Xxxxxx and such Participant relating thereto.

Appears in 1 contract

Samples: Credit Agreement (Ovintiv Inc.)

Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s 's Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, Agreement and such Lender shall continue to perform fully all of its their obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s 's rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender and Xxxxxx in favour of any such Participant relating thereto.

Appears in 1 contract

Samples: Credit Agreement (PRECISION DRILLING Corp)

Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, Agreement and such Lender shall continue to perform fully all of its their obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender and in favour of any such Participant relating thereto.

Appears in 1 contract

Samples: Credit Agreement (Precision Diversified Oilfield Services Corp.)

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Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s 's Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, Agreement and such Lender shall continue to perform fully all of its their obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s 's rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender and in favour of any such Participant relating thereto.

Appears in 1 contract

Samples: Credit Agreement (PRECISION DRILLING Corp)

Rights and Obligations of a Lender on a Participation. Notwithstanding anything herein to the contrary, the sale by a Lender of a Participation to a Participant shall not affect the Lender’s 's Proportion of such Lender nor otherwise alter the obligations of such Lender to the Borrower pursuant to this Agreement, and such Lender shall continue to perform fully all of its obligations to the Borrower under this Agreement pursuant to the terms hereof, regardless of any failure to perform by any Participant or any other term, condition or event relating to any Participation. Any Participant’s 's rights against such Lender and obligations in favour of such Lender in respect of such Participation shall be those set forth in any agreement executed by such Lender and such Participant relating thereto.

Appears in 1 contract

Samples: Credit Agreement (Ovintiv Inc.)

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