Repudiation of Obligation to Participate Sample Clauses

Repudiation of Obligation to Participate. If the Bank shall at any time determine that any Lender has repudiated, for any reason and howsoever expressed, or has breached any of its material obligations under this Agreement (such Lender herein called a "Defaulting Lender"), the Bank may, in its sole discretion and notwithstanding anything to the contrary contained in this Agreement, temporarily or permanently reduce the amount of the Total Commitment by an amount equal to such Defaulting Lender's Commitment; provided, however, that (i) no such reduction shall have the effect of terminating, reducing, or altering the terms of the Letter of Credit with respect to Commercial Paper Notes outstanding at the time, and (ii) no such reduction of the Total Commitment shall be effective until notice thereof has been given to the Company and to the Depositary and the Lessee. If the Bank proposes to reduce the Total Commitment as provided in this Section 3.02, it shall give the Company not less than 90 days' notice of the amount and the effective date of the proposed reduction. During the period from the giving of such notice to 45 days before said effective date the Bank shall use its best efforts to arrange for the other Lenders or any other bank or banks to assume the Commitment of the Defaulting Lender. Not later than 45 days before the effective date of such reduction the Bank shall advise the Company either that it has arranged for such assumption of the Defaulting Lender's Commitment and that the Total Commitment will not be reduced or that the Total Commitment will be reduced pursuant to the notice previously given (specifying an amount of reduction no greater than the amount specified in said notice). Thereupon, the Total Commitment shall be reduced to the extent specified in said notice, but in no event to an amount less than the sum of (i) the aggregate Face Amount of outstanding Commercial Paper Notes plus (ii) the aggregate outstanding principal amount of all Loans plus (iii) the aggregate amount of all unreimbursed LOC Payments. Such reduction shall remain in effect until further written notice from the Bank to the Company and the Depositary.
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Related to Repudiation of Obligation to Participate

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Affirmation of Obligations Each of the Credit Parties hereby acknowledges, agrees and affirms (a) its obligations under the Credit Agreement and the other Loan Documents, including, without limitation, its guaranty obligations thereunder, (b) that such guaranty shall apply to the Obligations in accordance with the terms thereof, (c) the grant of the security interest in all of its assets pursuant to the Loan Documents and (d) that such liens and security interests created and granted are valid and continuing and secure the Obligations in accordance with the terms thereof.

  • Ratification of Obligations Except as specifically modified herein, the Indenture and the Notes are in all respects ratified and confirmed (mutatis mutandis) and shall remain in full force and effect in accordance with their terms.

  • Reaffirmation of Obligations Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents.

  • Payment of Obligation 44 8.2 Covenants......................................................................................44 8.3

  • Relation to Subordination Provisions Interest Drawings under the Liquidity Facilities and withdrawals from the Cash Collateral Accounts, in each case, in respect of interest on the Certificates of any Class, will be distributed to the Trustee for such Class of Certificates, notwithstanding Sections 2.01(b) and 3.02.

  • Liability; Provisions that Survive Termination If this Agreement is terminated pursuant to this Article VII, such termination shall be without liability of any party hereto to any other party hereto except as provided in Section 9.02 and for the Company’s obligations in respect of all prior Issuance Notices, and provided further that in any case the provisions of Article VI, Article VIII and Article IX shall survive termination of this Agreement without limitation.

  • Guaranty of Obligation Guarantor hereby irrevocably and unconditionally guarantees to Lender and its successors and assigns the payment and performance of the Guaranteed Obligations as and when the same shall be due and payable, whether by lapse of time, by acceleration of maturity or otherwise. Guarantor hereby irrevocably and unconditionally covenants and agrees that it is liable for the Guaranteed Obligations as a primary obligor.

  • Delegation of Obligations The Asset Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Issuer and the Servicer.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

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