Participations, Drawings and Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Bank with a Revolving Commitment shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Issuing Bank a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Revolving Commitment Percentage of such Bank multiplied by (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively.
Participations, Drawings and Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each RL Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the respective Issuing Lender a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Revolving Commitment Percentage of such RL Lender times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively. For purposes of Section 2.10(a), each issuance of a Letter of Credit shall be deemed to utilize the Revolving Commitment of each RL Lender by an amount equal to the amount of such participation.
Participations, Drawings and Reimbursements. (i) Immediately upon the issuance of each Letter of Credit, each Lender (other than the Issuing Lender) shall be deemed to, and hereby agrees to, have irrevocably purchased from the Issuing Lender a participation in such Letter of Credit and each drawing thereunder in a percentage equal to the Revolving Credit Commitment Percentage of such Lender.
Participations, Drawings and Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable Issuing Bank a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Pro Rata Share of such Lender, as the same may be adjusted from time to time hereunder, times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively. The amount of each Lender’s participation in each Letter of Credit shall be automatically adjusted from time to time in accordance with such Lender’s Pro Rata Share at such time and shall, for each Lender, be automatically reduced to zero on the date of such Lender’s applicable scheduled Commitment Termination Date. For purposes of Section 2.01, each issuance of a Letter of Credit shall be deemed to utilize the Commitment of each Lender by an amount equal to the amount of such participation.
Participations, Drawings and Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable Issuing Lender a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Commitment Percentage of such Lender times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively. For purposes of Section 2.10(a), each issuance of a Letter of Credit shall be deemed to utilize the Revolving Commitment of each Lender by an amount equal to the amount of such participation.
Participations, Drawings and Reimbursements. (i) Immediately upon the issuance of each Letter of Credit, each Lender (other than the Issuing Lender) shall be deemed to, and hereby agrees to, have irrevocably purchased from the Issuing Lender a participation in such Letter of Credit and each drawing thereunder in a percentage equal to the Revolving Credit Commitment Percentage of such Lender. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, EACH SUCH LENDER ACKNOWLEDGES AND AGREES THAT LETTERS OF CREDIT MAY BE ISSUED WITH EXPIRATION DATES AFTER OCTOBER 1, 2007, OR ANY OTHER ADVANCE MATURITY DATE. EACH SUCH LENDER ACKNOWLEDGES AND IRREVOCABLY AGREES THAT ITS PARTICIPATING INTEREST APPLIES TO SUCH LETTERS OF CREDIT BOTH BEFORE AND AFTER THE ADVANCE MATURITY DATE INCLUDING, WITHOUT LIMITATION, DURING THE PERIOD FOLLOWING THE ADVANCE MATURITY DATE.
Participations, Drawings and Reimbursements. (a) As of the Closing Date, the Existing Letters of Credit will be deemed for all purposes Letters of Credit Issued and outstanding under this Article III, and will be governed by applications and agreements pertaining thereto and by this Agreement (which shall control in the event of a conflict). Each Bank (other than the Issuing Bank) shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Issuing Bank on the Closing Date a participation in such Letters of Credit and each drawing thereunder in an amount equal to the product of (i) the Commitment Percentage of the Bank, times (ii) the face amount of such Letters of Credit. For purposes of subsection 3.01 (a), the Existing Letters of Credit shall be deemed to utilize the Revolving Commitment of each Bank (other than the Issuing Bank) by an amount equal to the amount of such participation and to utilize the Revolving Commitment of the Issuing Bank by an amount equal to the face amount of such Letters of Credit less the aggregate amount of such participations.
Participations, Drawings and Reimbursements. (a) Participations of Lenders in Additional Letters of Credit. Immediately upon the issuance of each Letter of Credit, the Issuing Lender shall be deemed irrevocably to have sold and transferred to each Lender without recourse or warranty, and each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase and accept from the Issuing Lender, for such Lender’s own account and risk, an undivided interest and a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Pro Rata Share of such Lender, times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively. For purposes of Section 3.01(a), each issuance of a Letter of Credit shall be deemed to utilize the Revolving Commitment of each Lender by an amount equal to the amount of such participation.
Participations, Drawings and Reimbursements. (a) Immediately upon the Issuance of each Letter of Credit (or, in the case of the Existing Letters of Credit, on the Closing Date) each Revolving Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable LC Issuer a participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) such Lender's Revolver Pro Rata Share times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively.
Participations, Drawings and Reimbursements. (a) Immediately upon the issuance of each Letter of Credit, the Issuing Bank shall be deemed irrevocably to have sold and transferred to each Bank without recourse or warranty, and each Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase and accept from the Issuing Bank, for such Bank's own account and risk, an undivided interest and participation in such Letter of Credit and each drawing thereunder in an amount equal to the product of (i) the Applicable Percentage of such Bank, times (ii) the maximum amount available to be drawn under such Letter of Credit and the amount of such drawing, respectively. For purposes of subsection 2.10(a), each issuance of a Letter of Credit shall be deemed to utilize the Commitment of each Bank by an amount equal to the amount of such participation.
