Common use of Obligation of Lenders Clause in Contracts

Obligation of Lenders. The obligation of any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage of the aggregate stated amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC Issuer, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers thereunder as provided in this Section 3.1(c). The failure of any LC Issuer to make any LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer shall be responsible for the failure of any other LC Issuer to make its LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Account Party under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage of the aggregate stated undrawn amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC Issuer, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers thereunder as provided in this Section 3.1(cSECTION 3.02(c). The failure of any LC Issuer to make any LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer shall be responsible for the failure of any other LC Issuer to make its LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) SECTION 11.06 or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Account Party Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of any LC Issuer Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC IssuerIssuing Lender’s Applicable Percentage Ratable Share of the aggregate stated amount Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued Issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC IssuerIssuing Lender, no Syndicated Letter of Credit may be issued Issued that would vary the several and not joint nature of the obligations of the LC Issuers Issuing Lenders thereunder as provided in this Section 3.1(c2.01(c). The failure of any LC Issuer Issuing Lender to make any LC L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer Issuing Lender shall be responsible for the failure of any other LC Issuer Issuing Lender to make its LC L/C Disbursement in respect of any Syndicated Letter of Credit. Concurrently In connection with or promptly following any change in Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) 10.06 or any other event or circumstance resulting in a change in the Applicable Percentages Ratable Shares of the Lenders, the LC Administrator L/C Agent, the assigning Lender and the Borrower shall amend or replace use commercially reasonable efforts to obtain the consent of Xxxxx'x and have each outstanding Syndicated Letter of Credit amended or replaced to reflect the new Applicable Percentages Ratable Shares of the Lendersapplicable Issuing Lenders effective concurrently with or, to the extent agreed to in writing by the L/C Agent, the assigning Lender and the assignee, promptly following the effective date of such change. Until a Syndicated Letter of Credit has been so amended or replacedreplaced with the consent of Xxxxx'x, the Issuing Lenders (both before and after giving effect to the change in Applicable PercentagesRatable Shares) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Account Party Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable PercentagesRatable Shares.

Obligation of Lenders. The obligation of In the event any Unreimbursed Amount exists, then LC Issuer shall so notify Administrative Agent, which, in turn, shall promptly notify each Lender of the Unreimbursed Amount and such Lender’s Commitment Percentage thereof. Each Lender shall promptly and unconditionally make available to Administrative Agent (for the account of LC Issuer) in immediately available funds such Lender’s Commitment Percentage of such unpaid reimbursement obligation, which funds shall be paid to Administrative Agent on or before the close of business on the Business Day on which such notice was given by Administrative Agent to Lenders (if given prior to 1:00 p.m., Dallas, Texas time) or on the next succeeding Business Day (if notice was given after 1:00 p.m., Dallas, Texas time). All such amounts payable by any such Lender shall include interest thereon accruing at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by LC Issuer in accordance with banking industry rules on interbank compensation from the day the applicable draft is paid by LC Issuer to (but not including) the date such amount is paid by such Lender to Administrative Agent. Until each Lender funds its participation pursuant to this Section 2.2(e) to reimburse LC Issuer for any amount drawn under any Syndicated Letter Existing LC, interest in respect of Credit such Lender’s Commitment Percentage of such amount shall be several solely for the account of LC Issuer; provided that, once a Lender funds its participation (together with any interest owed with respect thereto) in accordance with this Section 2.2(e), then interest with respect to such Lender’s Commitment Percentage of the Unreimbursed Amount shall accrue for the account of such Lender from the date such funding from such Lender was due hereunder. The obligations of Lenders to make payments to Administrative Agent (for the account of LC Issuer) with respect to Existing LCs shall be irrevocable and not joint subject to any qualification or exception whatsoever (other than the gross negligence or willful misconduct of LC Issuer) and shall be made in accordance with the terms and conditions of this Agreement under all circumstances, including any of the following circumstances: (i) any lack of validity or enforceability of this Agreement or any of the Loan Documents; (ii) the existence of any claim, setoff, defense, or other right which such Lender may have at any time against a beneficiary named in an amount equal to Existing LC, any transferee of any Existing LC (or any Person for whom any such LC Issuer’s Applicable Percentage of the aggregate stated amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each transferee may be acting), LC Issuer, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers thereunder as provided in this Section 3.1(c). The failure of any LC Issuer to make any LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer of its corresponding obligationLender, if any, hereunder to do so on such date, but no LC Issuer shall be responsible for the failure of any other LC Issuer to make its LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) or any other event or circumstance resulting Person, whether in a change in the Applicable Percentages of the Lendersconnection with this Agreement, any Existing LC, the LC Administrator shall amend transactions contemplated herein, or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit any unrelated transactions (including each drawing made thereunder any underlying transaction between Borrower and the obligations beneficiary named in any such Existing LC); (iii) any draft, certificate, or any other document presented under the Existing LC proving to be forged, fraudulent, invalid, or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; and (iv) the occurrence of the applicable Account Party under this Agreement with respect thereto and any Cash Collateral Default or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable PercentagesEvent of Default.

Obligation of Lenders. The obligation of any LC Issuer Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage Issuing Lender's pro rata share (based on the percentage of the aggregate stated amount Tranche 1 Commitments or Tranche 2 Commitments, as applicable, represented by such Xxxxxx's Tranche 1 Commitment or Tranche 2 Commitment, as applicable) of the aggregate Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC IssuerIssuing Lender, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers Issuing Lenders thereunder as provided in this Section 3.1(c3.3(b). The failure of any LC Issuer Issuing Lender to make any LC L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer Issuing Lender shall be responsible for the failure of any other LC Issuer Issuing Lender to make its LC L/C Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in 8470562v6 24740.00061 57 Commitments pursuant to Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) 2.20 or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders2.21, the LC Administrator L/C Agent shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages pro rata shares of the Lendersapplicable Lenders in accordance with their applicable Commitments. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable PercentagesCommitments) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Account Party Borrowers under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable PercentagesCommitments.