Each Participant Sample Clauses

Each Participant. The original Participants, and each other Participant from time to time, by its acceptance of a Loan Certificate, represents and warrants that:
Each Participant by executing this Agreement or purchasing a participation interest pursuant to Section 11.6, hereby irrevocably authorizes the Issuer to issue Letters of Credit, to pay the amount of any draft presented under a Letter of Credit upon presentation of documents which, upon their face, conform to the terms of such Letter of Credit, to receive from the Applicants (or the Guarantors on behalf of the Applicants) reimbursement for Drawings on Letters of Credit, to receive from the Applicants (or the Guarantors on behalf of the Applicants) payment of all Fees, charges and interest, and to take such action on its behalf under the provisions of this Agreement and to exercise such powers and to perform such duties hereunder as are specifically delegated to or required of the Issuer by the terms hereof and thereof, together with such powers as are reasonably incidental thereto.
Each Participant subject to Section 6.11 shall have the right at any time to give written instructions to the Committee designating primary and contingent Beneficiaries to receive any benefit provided by the Plan or changing a Beneficiary designation. The Participant may also give written instructions as to the method of payment of benefits to his Beneficiary (such instructions will be followed to the extent Sections 6.5, 6.6 and 6.8 are not violated). Upon receipt of such written instructions from the Participant, the Committee shall take steps necessary to effectuate such designation or change of Beneficiary. A Participant's Beneficiary designation shall not be effective over the Participant's spouse's community property interest in the Plan unless the Participant's spouse consents or consented to such designation.