Common use of Obligation of Lenders Clause in Contracts

Obligation of Lenders. Each Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such Class made by the Lenders ratably in accordance with their respective Commitments of such Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 5 contracts

Samples: Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp)

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Obligation of Lenders. Each Syndicated Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such Class made by the Lenders ratably in accordance with their respective Commitments of such Class. Each Competitive Loan shall be made in accordance with the procedures set forth in Section 2.05. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments and Competitive Bids of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 3 contracts

Samples: Credit Agreement (Sprint Nextel Corp), Credit Agreement (Sprint Nextel Corp), Credit Agreement (Sprint Nextel Corp)

Obligation of Lenders. Each Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of such the applicable Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Nextel International Inc)

Obligation of Lenders. Each Loan of a particular Class shall be made as part of a --------------------- Borrowing consisting of Loans of such the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of such the applicable Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the -------- Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Hearst Argyle Television Inc)

Obligation of Lenders. Each Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such Class made by the Lenders ratably in accordance with their respective Commitments of such Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Guarantee and Security Agreement (Nextel Communications Inc)

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Obligation of Lenders. Each Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such Class the same Type made by the Lenders ratably in accordance with their respective Commitments of such ClassCommitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Hearst Argyle Television Inc)

Obligation of Lenders. Each Loan of a particular Class shall be made as part of a Borrowing consisting of Loans of such Class made by the Lenders ratably in accordance with their respective Commitments of such Class. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided PROVIDED that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Nextel Communications Inc)

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