Common use of Obligation of Lenders Clause in Contracts

Obligation of Lenders. The obligation of any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage of the aggregate undrawn amount of such Syndicated Letter of Credit and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC Issuer, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers thereunder as provided in this SECTION 3.02(c). The failure of any LC Issuer to make any LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer shall be responsible for the failure of any other LC Issuer to make its LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to SECTION 11.06 or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of any LC Issuer under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage of the aggregate undrawn stated amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC Issuer, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers thereunder as provided in this SECTION 3.02(cSection 3.1(c). The failure of any LC Issuer to make any LC Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer shall be responsible for the failure of any other LC Issuer to make its LC Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in Commitments pursuant to SECTION 11.06 Section 11.6 (to the extent agreed to between the assigning Lender and the assignee) or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders, the LC Administrator shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages of the Lenders. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable Percentages) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Borrower Account Party under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable Percentages.

Obligation of Lenders. The obligation of any LC Issuer Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC Issuer’s Applicable Percentage Issuing Lender's pro rata share (based on the percentage of the aggregate undrawn amount Tranche 1 Commitments or Tranche 2 Commitments, as applicable, represented by such Xxxxxx's Tranche 1 Commitment or Tranche 2 Commitment, as applicable) of the aggregate Stated Amount of such Syndicated Letter of Credit at the time such Syndicated Letter of Credit is issued (subject to any amendments to such Syndicated Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC IssuerIssuing Lender, no Syndicated Letter of Credit may be issued that would vary the several and not joint nature of the obligations of the LC Issuers Issuing Lenders thereunder as provided in this SECTION 3.02(cSection 3.3(b). The failure of any LC Issuer Issuing Lender to make any LC L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer Issuing Lender shall be responsible for the failure of any other LC Issuer Issuing Lender to make its LC L/C Disbursement in respect of any Syndicated Letter of Credit. Concurrently with or promptly following any change in 8470562v6 24740.00061 57 Commitments pursuant to SECTION 11.06 Section 2.20 or any other event or circumstance resulting in a change in the Applicable Percentages of the Lenders2.21, the LC Administrator L/C Agent shall amend or replace each outstanding Syndicated Letter of Credit to reflect the new Applicable Percentages pro rata shares of the Lendersapplicable Lenders in accordance with their applicable Commitments. Until a Syndicated Letter of Credit has been so amended or replaced, the Lenders (both before and after giving effect to the change in Applicable PercentagesCommitments) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Borrower Borrowers under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable PercentagesCommitments.

Obligation of Lenders. The obligation of any LC Issuer Issuing Lender under any Syndicated Letter of Credit shall be several and not joint and shall be in an amount equal to such LC IssuerIssuing Lender’s Applicable Percentage Ratable Share of the aggregate undrawn amount Stated Amount of such Syndicated Letter of Credit at the time such Letter of Credit is Issued (subject to any amendments to such Letter of Credit expressly permitted hereunder) and each Syndicated Letter of Credit shall expressly so provide. Absent the prior written consent of each LC IssuerIssuing Lender, no Syndicated Letter of Credit may be issued Issued that would vary the several and not joint nature of the obligations of the LC Issuers Issuing Lenders thereunder as provided in this SECTION 3.02(cSection 2.01(c). The failure of any LC Issuer Issuing Lender to make any LC L/C Disbursement in respect of any Syndicated Letter of Credit on any date shall not relieve any other LC Issuer Issuing Lender of its corresponding obligation, if any, hereunder to do so on such date, but no LC Issuer Issuing Lender shall be responsible for the failure of any other LC Issuer Issuing Lender to make its LC L/C Disbursement in respect of any Syndicated Letter of Credit. Concurrently In connection with or promptly following any change in Commitments pursuant to SECTION 11.06 Section 10.06 or any other event or circumstance resulting in a change in the Applicable Percentages Ratable Shares of the Lenders, the LC Administrator L/C Agent, the assigning Lender and the Borrower shall amend or replace use commercially reasonable efforts to obtain the consent of Xxxxx'x and have each outstanding Syndicated Letter of Credit amended or replaced to reflect the new Applicable Percentages Ratable Shares of the Lendersapplicable Issuing Lenders effective concurrently with or, to the extent agreed to in writing by the L/C Agent, the assigning Lender and the assignee, promptly following the effective date of such change. Until a Syndicated Letter of Credit has been so amended or replacedreplaced with the consent of Xxxxx'x, the Issuing Lenders (both before and after giving effect to the change in Applicable PercentagesRatable Shares) shall be deemed to have irrevocably and unconditionally sold and purchased participations in such Syndicated Letter of Credit (including each drawing made thereunder and the obligations of the applicable Borrower under this Agreement with respect thereto and any Cash Collateral or other security therefor or guaranty pertaining thereto) as necessary to give effect to the change in Applicable PercentagesRatable Shares.