SALE OF RISK PARTICIPATIONS. Agent agrees to sell to Lenders, and upon issuance of any Letter of Credit hereunder each Lender shall be deemed to have unconditionally and irrevocably purchased from Agent, an undivided risk participation in such Letter of Credit in proportion to such Lender's Pro Rata Share.
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Samples: Credit Agreement (Flow International Corp), Credit Agreement (Flow International Corp), Credit Agreement (Flow International Corp)
SALE OF RISK PARTICIPATIONS. Agent agrees to sell to Lenderseach Lender (including itself), and upon issuance of any each Lender severally agrees to unconditionally and irrevocably purchase from Agent, Letter of Credit hereunder each Lender shall be deemed to have unconditionally and irrevocably purchased from Agent, an undivided risk participation in such Risk Participations. Each Letter of Credit Risk Participation sold hereunder shall be sold to Lenders in fractional amounts in proportion to such Lender's their Revolving Loan Pro Rata ShareShares.
Appears in 2 contracts
Samples: Loan Agreement (Northwest Pipe Co), Loan Agreement (Northwest Pipe Co)
SALE OF RISK PARTICIPATIONS. The Agent agrees to sell to the Lenders, and upon issuance of any Letter of Credit hereunder each Lender shall be deemed to have unconditionally and irrevocably purchased from the Agent, an undivided risk participation in such Letter of Credit in proportion to such Lender's Pro Rata Share.
Appears in 2 contracts
Samples: Credit Agreement (Cavanaughs Hospitality Corp), Credit Agreement (Westcoast Hospitality Corp)
SALE OF RISK PARTICIPATIONS. Agent agrees to sell to Lenders, and upon issuance of any Letter of Credit hereunder each Lender shall be deemed to have unconditionally and irrevocably purchased from Agent, an undivided risk participation in such Letter of Credit Credit, including each Existing Letter of Credit, in proportion to such Lender's ’s Pro Rata Share.
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