Examples of Commitment Proportion in a sentence
Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent its Commitment Proportion of the payment then due from the Company, in the same manner as provided in Section 3.11 with respect to Loans made by such Lender (and Section 3.11 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Lender the amounts so received by it from the Lenders.
The amount which each Lender shall be required to contribute to a LIBOR Advance shall be an amount equal to such Lender's Commitment Proportion of such LIBOR Advance; provided, however, that if -------- ------- the amount of a Lender's Commitment is reduced in accordance with the terms hereof after the Agent has received the LIBOR Advance Request for such LIBOR Advance, then such Lender's participation in such LIBOR Advance, and the amount of such LIBOR Advance, shall be reduced accordingly.
In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Lender, such Lender’s Commitment Proportion of each LC Disbursement made by the Issuing Lender and not reimbursed by the Company on the date due as provided in paragraph (e) of this Section, or of any reimbursement payment required to be refunded to the Company for any reason.
By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the Issuing Lender or the Lenders, the Issuing Lender hereby grants to each Lender, and each Lender hereby acquires from the Issuing Lender, a participation in such Letter of Credit equal to such Lender’s Commitment Proportion of the aggregate amount available to be drawn under such Letter of Credit.
If the Company fails to make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Company in respect thereof and such Lender’s Commitment Proportion thereof.