Common use of Sharing of Letter of Credit Payments Clause in Contracts

Sharing of Letter of Credit Payments. In the event that FCC makes a payment under any Letter of Credit Guarantee and shall not have been repaid such amount pursuant to SECTION 3.6, then the Borrowers shall be deemed to have requested a Base Rate Revolving Credit Loan in the amount of such payment and, notwithstanding the occurrence or continuance of a Default or Event of Default at the time of such payment, each Lender shall be absolutely obligated to make its Ratable Share of such Loan available to the Administrative Agent for disbursement as provided by SECTION 2.2(b) or to purchase a participation in the payment made by FCC under any such Letter of Credit Guarantee.

Sharing of Letter of Credit Payments. In the event that FCC makes a payment under any Letter of Credit Guarantee and shall not have been repaid such amount pursuant to SECTION Section 3.6, then the Borrowers shall be deemed to have requested a Base Rate Revolving Credit Loan in the amount of such payment and, notwithstanding the occurrence or continuance of a Default or Event of Default at the time of such payment, each Lender shall be absolutely obligated to make its Ratable Share of such Loan available to the Administrative Agent for disbursement as provided by SECTION Section 2.2(b) or to purchase a participation in the payment made by FCC under any such Letter of Credit Guarantee.

Sharing of Letter of Credit Payments. In the event that FCC makes a payment under any Letter of Credit Guarantee and shall not have been repaid such amount pursuant to SECTION 3.6Section 2A, then the Borrowers shall be deemed to have requested a Base Rate Revolving Credit Loan in the amount of such payment and, notwithstanding the occurrence or continuance of a Default or Event of Default at the time of such payment, each Lender shall be absolutely obligated to make its Ratable Share ratable portion of such Loan available to the Administrative Agent for disbursement as provided by SECTION Section 2.2(b) or to purchase a participation in the payment made by FCC under any such Letter of Credit Guarantee.

Sharing of Letter of Credit Payments. In the event that FCC makes a payment under any Letter of Credit Guarantee and shall not have been repaid such amount pursuant to SECTION 3.6, then the Borrowers shall be deemed to have requested a Base Rate Revolving Credit Loan in the amount of such payment and, notwithstanding the occurrence or continuance of a Default or Event of Default at the time of such payment, each Lender shall be absolutely obligated to make its Ratable Proportionate Share of such Loan available to the Administrative Agent for disbursement as provided by SECTION 2.2(b2.2(B) or to purchase a participation in the payment made by FCC under any such Letter of Credit Guarantee.