Immediately upon the issuance or amendment of any Letter of Credit Accommodation. each Lender shall be deemed to have irrevocably and unconditionally purchased and received, without recourse or warranty, an undivided interest and participation to the extent of such Lender's Pro Rata Share of the liability with respect to such Letter of Credit Accommodation (including, without limitation, all Obligations with respect thereto).
Appears in 3 contracts
Samples: Loan and Security Agreement (Anchor Glass Container Corp /New), Loan and Security Agreement (Charming Shoppes Inc), Loan and Security Agreement (Huffy Corp)
Immediately upon the issuance or amendment of any Letter of Credit Accommodation. each Revolving Lender shall be deemed to have irrevocably and unconditionally purchased and received, without recourse or warranty, an undivided interest and participation to the extent of such Revolving Lender's Pro Rata Share with respect to Revolving Loans of the liability with respect to such Letter of Credit Accommodation (including, without limitation, all Obligations with respect thereto).
Appears in 1 contract
Samples: Loan and Security Agreement (Delco Remy International Inc)
