Purchase of Participations by Lenders. Each Lender shall be deemed to have irrevocably and unconditionally purchased and received from the Issuing Bank, without recourse or warranty and without any further action on the part of any party, an undivided interest and participation to the extent of such Lender's Percentage in all Letter of Credit Liabilities as to each Letter of Credit and any security therefor or guarantee relating thereto.
Appears in 7 contracts
Samples: Credit Agreement (America Service Group Inc /De), Credit Agreement (Cti Inc /Tn), Credit Agreement (Cti Molecular Imaging Inc)