Common use of Satisfaction of Lender Funding Obligations Clause in Contracts

Satisfaction of Lender Funding Obligations. Each Borrower and the Deposit Issuing Bank acknowledges and agrees that, notwithstanding any other provision contained herein, the deposit by each Deposit Lender in the Deposit Account on the Effective Date of funds equal to its Deposit Commitment will fully discharge the obligation of such Lender to fund Deposit Loans by such Lender pursuant to Section 2.02(a) and to reimburse such Lender’s Deposit Percentage of LC Disbursements in respect of Deposit Letters of Credit that are not reimbursed by the applicable Borrower pursuant to Section 2.04(d) or (e), and that no other or further payments shall be required to be made by any Deposit Lender in respect of any such funding or reimbursement obligations.