Common use of L/C Participations Clause in Contracts

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of Credit, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth below, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such Issuing Lender's obligations and rights under and in respect of each Letter of Credit and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (American Pharmaceutical Partners Inc /Ca/)

AutoNDA by SimpleDocs

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's ’s Revolving Percentage in such each Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's ’s address for notices specified herein an amount equal to such L/C Participant's ’s Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Hilfiger Tommy Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by the Issuing Lender hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit issued by the Issuing Lender for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (CSC Parent Corp)

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's ’s LC/Swing Line Revolving Percentage in such each Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued by such Issuing Lender hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's ’s address for notices specified herein an amount equal to such L/C Participant's ’s LC/Swing Line Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Six Flags Entertainment Corp)

L/C Participations. (a) Each Issuing Lender Bank irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender Bank to issue Letters of CreditCredit hereunder, each L/C Participant unconditionally and irrevocably agrees to accept and purchase and hereby accepts and purchases from each such Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk risk, an undivided interest in such Issuing Bank’s obligations and rights under each Letter of Credit issued by such Issuing Bank hereunder in an amount equal to the product of such L/C Participant's ’s Revolving Commitment Percentage in such Issuing Lender's obligations and rights under and in respect of each Letter of Credit and Multicurrency Tranche Revolving Commitments times the amount of each draft paid by such Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender Bank that, if a draft is paid under any Letter of Credit issued by such Issuing Bank for which such Issuing Lender Bank is not reimbursed in full by the Borrower Company in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender Bank upon demand at such Issuing Lender's address for notices specified herein Bank’s Issuing Office an amount equal to such L/C Participant's ’s Revolving Commitment Percentage in respect of Multicurrency Tranche Revolving Commitments of the amount of such draft, or any part thereof, that which is not so reimbursedreimbursed in the Currency in which payment of such draft was made and in immediately available funds.

Appears in 1 contract

Samples: Multi Currency Credit Agreement (Harman International Industries Inc /De/)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Time Warner Telecom Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Commitment Percentage (determined on the date of issuance of the relevant Letter of Credit) in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this AgreementSection 3.5(a), such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Raci Holding Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's ’s Revolving Credit Percentage in such the Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's ’s address for notices specified herein an amount equal to such L/C Participant's ’s Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Forrester Research, Inc.)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the relevant Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Details Capital Corp)

L/C Participations. (a) Each Issuing Lender Issuer irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, Participant and, to induce each Issuing Lender such Issuer to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lendersuch Issuer, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Commitment Percentage from time to time in effect in such Issuing LenderIssuer's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such Issuing Lender Issuer thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender Issuer that, if a draft is paid under any Letter of Credit for which such Issuing Lender Issuer is not reimbursed in full by the Borrower Borrowers in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender Issuer upon demand at such Issuing LenderIssuer's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed; provided that, if such demand is made prior to 10:00 a.m. on a Business Day, such L/C Participant shall make such payment to such Issuer prior to the end of such Business Day and otherwise such L/C Participant shall make such payment on the next succeeding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Auxilio Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters the Letter of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each the Letter of Credit and the amount of each draft paid by such the Issuing Lender thereunder. Each 40 35 L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any the Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Fpa Medical Management Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Facility B Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Kimco Realty Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Account Party in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Agent Agreement (Exide Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such the Issuing Lender's Lender obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Lifepoint Hospitals Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees to ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Account Party in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Exide Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Company in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Dii Group Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with 58 the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Nebraska Book Co)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue the Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage (determined based on such L/C Participant's Commitment Percentage of the Commitment) in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed; provided, that such L/C Participant shall not be required to fund its Commitment Percentage of the amount of such draft if such funding arises as a result of the Issuing Lender's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Corestaff Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft or other demand for payment paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if the Issuing Lender notifies it that a draft is or other demand for payment has been paid under any Letter of Credit for which such the Issuing Lender is has not been reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draftdraft or other demand for payment, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Kimco Realty Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Borrowers in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursedreimbursed and such payments shall thereafter be reflected as Extensions of Credit of the Lenders on the books and records of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Cca Prison Realty Trust)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with 58 53 the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (NBC Acquisition Corp)

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Multicurrency Percentage in such each Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by such Issuing Lender hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the relevant Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Multicurrency Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Premier Parks Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Packard in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.so

Appears in 1 contract

Samples: Credit Agreement (Packard Bioscience Co)

L/C Participations. (a) Each Effective on the Issuance Date in respect of each Letter of Credit, the Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C ParticipantLender (other than such Issuing Lender), and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant Lender irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C ParticipantLender's own account and risk an undivided interest equal to such L/C ParticipantLender's Revolving Credit Percentage in such of the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant Lender unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant Lender shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C ParticipantLender's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Safety Kleen Corp/)

L/C Participations. (ai) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage ’s Pro Rata Share in such the Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower through an Advance or otherwise in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's ’s address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage ’s Pro Rata Share of the amount of such draft, or any part thereof, that which is not so reimbursed. Any such reimbursement by the L/C Participants of the Issuing Lender shall be deemed to be an Advance requested by the Borrower pursuant to Section 2.8(e).

Appears in 1 contract

Samples: Loan Agreement (Jarden Corp)

L/C Participations. (a) Each Issuing Lender irrevocably agrees to ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such each Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Hilfiger Tommy Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth below, Lender for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender (notwithstanding any Default, Event of Default, non-satisfaction of conditions set forth in Article V or any other circumstances whatsoever) that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Borrowers in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Global Imaging Systems Inc)

AutoNDA by SimpleDocs

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, and to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Guess Inc Et Al/Ca/)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/L/ C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Birch Telecom Inc /Mo

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage (a calculation of which shall be provided by the Administrative Agent) of the amount of such draft, or any part thereof, that which is not so reimbursed.. Any demand by the Issuing Lender may be made through the Administrative Agent. 49 44

Appears in 1 contract

Samples: Credit Agreement (Salton Maxim Housewares Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving DIP Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving DIP Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Imperial Sugar Co /New/

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage (determined on the date of issuance of the relevant Letter of Credit) in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreementsubsection 3.5(a), such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Securities Purchase Agreement (RBX Corp)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C ParticipantPartici pant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursedreimbursed and such payments shall thereafter be reflected as Extensions of Credit of the Lenders on the books and records of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Corrections Corporation of America)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such the L/C Participant's own account and risk an undivided interest equal to such the L/C Participant's Revolving Credit Commitment Percentage from time to time in effect in such Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by such Issuing Lender hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit issued by the Issuing Lender for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's then Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.which

Appears in 1 contract

Samples: Revolving Credit Agreement (Advanced Fibre Communications Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving 52 Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Day International Group Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's ’s Revolving Percentage in such the Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit issued for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, Agreement such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's ’s address for notices specified herein an amount equal to such L/C Participant's ’s Revolving Percentage of the amount of such draft, or any part thereof, that is not so reimbursedreimbursed (whether or not the conditions to borrowing set forth in Section 5.2 are satisfied).

Appears in 1 contract

Samples: Credit Agreement (Tenneco Inc)

L/C Participations. (a) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the relevant Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Ddi Corp)

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Percentage in such each Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by such Issuing Lender hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Percentage of the amount of such draft, or any part thereof, that is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Infonet Services Corp)

L/C Participations. (a) 3.4.1 Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each such Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each such Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk risk, an undivided interest equal to such L/C Participant's Revolving Three Year Facility Commitment Percentage in such Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit for which such Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Three Year Facility Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Pittston Co)

L/C Participations. (a) Each Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the relevant Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an 52 47 undivided interest equal to such L/C Participant's US$ Revolving Credit Percentage in such Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by such Issuing Lender and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the Parent Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's US$ Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (International Home Foods Inc)

L/C Participations. (a1) Each The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Commitment Percentage in such the Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower Borrowers in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's address for notices specified herein an amount equal to such L/C Participant's Revolving Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Wilmar Industries Inc)

L/C Participations. (a) Each (a) The Issuing Lender irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing Lender, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's ’s own account and risk an undivided interest equal to such L/C Participant's ’s Revolving Credit Percentage in such the Issuing Lender's ’s obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender that, if a draft is paid under any Letter of Credit for which such the Issuing Lender is not reimbursed in full by the Borrower in accordance with the terms of this Agreement, such L/C Participant shall pay to such the Issuing Lender upon demand at such the Issuing Lender's Xxxxxx’s address for notices specified herein an amount equal to such L/C Participant's ’s Revolving Credit Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Forrester Research, Inc.)

L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender Bank to continue to hold outstanding Existing Letters of Credit and to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Revolving Credit Commitment Percentage in such the Issuing LenderBank's obligations and rights under and in respect of each Letter of Credit issued hereunder (including, without limitation, each Existing Letter of Credit) and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender Bank that, if a draft is paid under any Letter of Credit for which such the Issuing Lender Bank is not reimbursed in full by the Borrower Parent in accordance with the terms of this AgreementAgreement otherwise than as a result of the gross negligence or willful misconduct of the Issuing Bank, such L/C Participant shall pay to such the Issuing Lender Bank upon demand at such the Issuing LenderBank's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Sybron International Corp)

L/C Participations. (a) Each The Issuing Lender Bank irrevocably agrees ------------------ to grant and hereby grants to each L/C Participant, and, to induce each the Issuing Lender Bank to issue Letters of CreditCredit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each the Issuing LenderBank, on the terms and conditions set forth belowhereinafter stated, for such L/C Participant's own account and risk risk, an undivided interest equal to such L/C Participant's Revolving Credit Commitment Percentage in such the Issuing LenderBank's obligations and rights under and in respect of each Letter of Credit issued hereunder and the amount of each draft paid by such the Issuing Lender Bank thereunder. Each L/C Participant unconditionally and irrevocably agrees with each the Issuing Lender Bank that, if a draft is paid under any Letter of Credit for which such the Issuing Lender Bank is not reimbursed in full by the Borrower in accordance with the terms teens of this Agreement, such L/C Participant shall pay to such the Issuing Lender Bank upon demand at such the Issuing LenderBank's address for notices specified herein an amount equal to such L/C Participant's Revolving Credit Commitment Percentage of the amount of such draft, or any part thereof, that which is not so reimbursed.

Appears in 1 contract

Samples: Credit Agreement (Diversified Food Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.