Common use of Purchase of Participations Clause in Contracts

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 7 contracts

Samples: Loan and Security Agreement (Sweetheart Holdings Inc \De\), Loan and Security Agreement (United States Leather Inc /Wi/), Loan and Security Agreement (United States Leather Inc /Wi/)

AutoNDA by SimpleDocs

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d)1.2.4, each Lender (sometimes referred to herein as a “Participating Lender”) shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in equal to such Lender’s Pro Rata share of the face amount of such Letter of Credit or the Credit Support provided through the Agent to such issuer the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, including all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 2 contracts

Samples: Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Integrated Electrical Services Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d)this SECTION 2.2, each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 2 contracts

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc), Loan and Security Agreement (Gantos Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with this Section 2.4(d)2.4, each Lender under the Standard Line shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 2 contracts

Samples: Loan and Security Agreement (Fao Inc), Loan and Security Agreement (Right Start Inc /Ca)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d2.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Merisel Inc /De/)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d), each Revolving Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Revolving Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Administrative Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Foamex International Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with this Section 2.4(d)2.2, each Tranche A Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Tranche A Lender's Pro Tranche A Pro-Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Thomaston Mills Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d), each US Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such US Lender's ’s Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Administrative Agent to the Letter of Credit Issuer, if not a Lender, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower US Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Mobile Storage Group Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Administrative Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Kforce Com Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d2.3(c), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warrantywarranty to the Agent or issuer, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not a Bank Products Provider, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Salton Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(dSECTION 1.4(D), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Applica Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section SECTION 2.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Guaranty and Security Agreement (Riddell Sports Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section SECTION 2.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Agent, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d), each Revolving Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Revolving Lender's ’s Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Administrative Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Manufacturers Services LTD)

Purchase of Participations. Immediately upon issuance -------------------------- of any Letter of Credit in accordance with this Section 2.4(d)2.2, each Lender shall ----------- be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Leslies Poolmart Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's ’s Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the applicable Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Manhattan Bagel Co Inc)

Purchase of Participations. Immediately upon -------------------------- issuance of any Letter of Credit in accordance with Section 2.4(d1.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Coorstek Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with this Section 2.4(d)2.2, each Lender under the Standard Line shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Right Start Inc /Ca)

AutoNDA by SimpleDocs

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d2.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, including all obligations of the Borrower for whose account such Letter of Credit was issued with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Phar Mor Inc)

Purchase of Participations. Immediately upon issuance of any -------------------------- Letter of Credit in accordance with Section 2.4(d), each Lender shall be deemed -------------- to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Agent, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(dSECTION 2.3(C), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Trademark Security Agreement (Trend Lines Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d)2.2, each Lender that has a Revolving Credit Commitment shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (General Datacomm Industries Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d1.4(d) (Issuance of Letters of Credit), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Bank, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Weston Roy F Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(dSECTION 1.4(D), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount Credit Support provided through the Agent to the Letter of Credit Issuer, if not the Agent, in connection with the issuance of such Letter of Credit Support (including, without limitation, including all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Credit Agreement (Packaged Ice Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit for the account of a Borrower in accordance with Section 2.4(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the such Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(d2.3(d), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower Borrowers with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Metals Inc /De/)

Purchase of Participations. Immediately upon issuance of any -------------------------- Letter of Credit in accordance with Section 2.4(d)this Section, each Lender to the extent of its Participation in the Revolving Credit Facility pursuant to which such Letter of Credit has been issued shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the such Letter of Credit or the Credit Support provided through the Agent to such issuer in connection with the issuance of such Letter of CreditSupport, equal to such Lender's Pro Rata Share of Participation in the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the applicable Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan Agreement (Intertan Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit in accordance with Section 2.4(dSECTION 2.4(D), each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the applicable Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Waxman Industries Inc)

Purchase of Participations. Immediately upon issuance of any Letter of Credit (including, without limitation, outstanding Rollover Letters of Credit) in accordance with this Section 2.4(d)2.2, each Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation in the Letter of Credit credit support or the Credit Support enhancement provided through the Agent to such issuer in connection with the issuance of such Letter of Credit, equal to such Lender's Pro Rata Share of the face amount of such Letter of Credit or the amount of such Credit Support (including, without limitation, all obligations of the Borrower with respect thereto, and any security therefor or guaranty pertaining thereto).

Appears in 1 contract

Samples: Loan and Security Agreement (Petsec Energy Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.