Common use of Other Lenders' Participation Clause in Contracts

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant hereto, and without further action, each Lender (other than the Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation and any Reimbursement Obligation with respect thereto), and such Lender shall, to the extent of its Revolving Loan Commitment Percentage, be responsible for reimbursing promptly (and in any event within one Business Day) the Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower in accordance with Section 2.6.3. In addition, such Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Lender has reimbursed the Issuer for a Disbursement as required by this Section, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower or otherwise) in respect of such Disbursement.

Appears in 2 contracts

Samples: Credit Agreement (KSL Recreation Group Inc), Credit Agreement (KSL Recreation Group Inc)

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Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant heretoCredit, and without further action, each Revolving Loan Lender (other than the Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation Liability and any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loan Commitment PercentageLoans, be responsible for reimbursing promptly (and in any event within one Business Day) Day the Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower Borrowers in accordance with Section 2.6.32.6.3 or which have been required to be returned or disgorged by the Issuer to the Administrative Agent. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower Borrowers or otherwise) in respect of such Disbursement.

Appears in 2 contracts

Samples: Credit Agreement (Chesapeake Corp /Va/), Credit Agreement (Chesapeake Corp /Va/)

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant heretoCredit, and without further action, each Revolving Loan Lender (other than the Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving LoansLoan Percentage, a participation interest in such Letter of Credit (including the Contingent Obligation Liability and any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its Revolving Loan Commitment Percentage, be responsible for reimbursing promptly (and in any event reimburse the Issuer within one Business Day) the Issuer Day following receipt of a notice pursuant to this Section for Reimbursement Obligations which have not been reimbursed by the Borrower Borrowers in accordance with Section 2.6.3. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving LoansLoan Percentage, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the any Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower Borrowers or otherwise) in respect of such Disbursement.

Appears in 2 contracts

Samples: Credit Agreement (Sabre Industries, Inc.), Credit Agreement (Sabre Industries, Inc.)

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant heretoCredit, and without further action, each Revolving Loan Lender (other than the such Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation Liability and any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loan Commitment PercentageLoans, be responsible for reimbursing promptly (and in any event within one Business Day) Day the Issuer for Reimbursement Obligations which have not been reimbursed by the applicable Borrower in accordance with Section 2.6.3. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the an Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the any Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the such Borrower or otherwise) in respect of such Disbursement.

Appears in 1 contract

Samples: Credit Agreement (WRC Media Inc)

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the an Issuer pursuant hereto, and without further action, each Revolving Loan Lender (other than the such Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation Liability and any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loan Commitment PercentageLoans, be responsible for reimbursing promptly (and in any event within one Business Day) the applicable Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower in accordance with Section 2.6.3. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the an Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the any Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower or otherwise) in respect of such Disbursement.

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

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Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant hereto, and without further action, each Lender (other than the Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation and any Reimbursement Obligation with respect thereto), and such Lender shall, to the extent of its Revolving Loan Commitment Percentage, be responsible for reimbursing promptly (and in any event within one Business Day) the Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower in accordance with Section 2.6.3. In addition, such Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance and processing fees and other charges payable to the Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Lender has reimbursed the Issuer for a Disbursement as required by this Section, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower or otherwise) in respect of such Disbursement.

Appears in 1 contract

Samples: Credit Agreement (Strategic Hotel Capital Inc)

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the an Issuer pursuant hereto, and without further action, each Revolving Loan Lender (other than the such Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make Revolving Loans, a participation interest in such Letter of Credit (including the Contingent Obligation Guarantee and any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loan Commitment PercentageLoans, be responsible for reimbursing promptly (and in any event within one Business Day) the Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower in accordance with Section 2.6.3. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make Revolving Loans, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the an Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the any Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower or otherwise) in respect of such Disbursement.

Appears in 1 contract

Samples: Credit Agreement (United Auto Group Inc)

Other Lenders' Participation. Upon the issuance of each Letter of Credit issued by the Issuer pursuant heretoCredit, and without further action, each applicable Revolving Loan Lender (other than the Issuer) that has a Revolving Loan Commitment shall be deemed to have irrevocably purchased, to the extent of its Percentage to make applicable Revolving LoansLoan Percentage, a participation interest in such Letter of Credit (including the Contingent Obligation Liability of such Issuer and the right to receive any Reimbursement Obligation with respect thereto), and such Revolving Loan Lender shall, to the extent of its applicable Revolving Loan Commitment Percentage, be responsible for reimbursing promptly (and in any event the applicable Currency) within one Business Day) Day after receipt of a request therefor, the Issuer for Reimbursement Obligations which have not been reimbursed by the Borrower Borrowers in accordance with Section 2.6.3. In addition, such Revolving Loan Lender shall, to the extent of its Percentage to make applicable Revolving LoansLoan Percentage, be entitled to receive a ratable portion of the Letter of Credit fees payable pursuant to Section 3.3.3 with respect to each Letter of Credit (other than the issuance fees payable to the Issuer of such Letter of Credit pursuant to the last sentence of Section 3.3.3) and of interest payable pursuant to Section 3.2 with respect to any Reimbursement Obligation. To the extent that any Revolving Loan Lender has reimbursed the any Issuer for a Disbursement as required by this SectionDisbursement, such Lender shall be entitled to receive its ratable portion of any amounts subsequently received (from the Borrower Borrowers or otherwise) in respect of such Disbursement.

Appears in 1 contract

Samples: Credit Agreement (3055854 Nova Scotia Co)

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