Settlement Among Lenders. Upon the making of each payment by a Lender to the Agent pursuant to Section 2.16.5 above in respect of any Letter of Credit, such Lender shall, automatically and without any further action on the part of the Agent or such Lender, acquire (i) a participation in any amount equal to such payment in the Reimbursement Obligation owing to the Agent by Borrowers under this Agreement and under the Letter of Credit Documents relating to such Letter of Credit and (ii) a participation in a percentage equal to such Lender’s Pro Rata Share in any interest or other amounts payable by Borrowers under such Letter of Credit Documents and the other Credit Documents in respect of such Reimbursement Obligation. Upon receipt by the Agent from or for the account of Borrowers of any payment in respect of any Reimbursement Obligation or any such interest or other amount (including by way of set-off or application of proceeds of any collateral security) the Agent shall promptly pay to each Lender who shall have previously assumed a participation in such payment under clause (ii) above, such Lender’s Pro Rata Share of such payment, each such payment by the Agent to be made in the same money and funds in which received by the Agent. In the event any payment received by the Agent and so paid to Lenders is rescinded or must otherwise be returned by the Agent, each Lender shall, upon the request of the Agent, repay to the Agent the amount of such payment paid to such Lender, with interest at the rate specified in Section 2.16.10.
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