Common use of Participating Interests Clause in Contracts

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Existing Letter of Credit, effective on the Restatement Date, and in the case of each Letter of Credit issued in accordance with the terms hereof on or after the Restatement Date, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender in respect of such Letter of Credit agrees to allot, and does allot, to each other U.S. Revolving Lender with a Revolving Credit CommitmentLender, and each such U.S. Revolving Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such U.S. Revolving Lender’s 's U.S. Revolving Credit Commitment Percentage. On the date that any Participating purchasing Lender becomes a party to this Agreement in accordance with subsection 11.617.6, Participating Interests in any outstanding Letter of Credit held by the U.S. Revolving Lender from which such Participating purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating purchasing Lender and such transferor U.S. Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b8.4(b) resulting solely from the such Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Letter of Credit, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender agrees to allot, allot and does allot, allot to each other Revolving Lender with a Revolving Credit CommitmentLender, and each such Lender severally and irrevocably agrees to take and does take, take a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s 's pro rata share of the Letter of Credit Obligations (calculated based on its Revolving Credit Commitment Percentage). On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6Section 12.05, Participating Interests in any outstanding Letter of Credit held by the Revolving transferor Lender from which such Participating transferee Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating transferee Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof Credit, and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder thereunder, is absolute, irrevocable and unconditional and shall not be affected by any circumstances whatsoever, including, without limitation, the occurrence and continuance of any Default or Event of Default, and that each such payment shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of made without any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence offset, abatement, withholding or willful misconductother reduction whatsoever.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence or willful misconduct.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s 's Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Existing Letter of Credit, effective on the Closing Date, and in the case of each Letter of Credit issued in accordance with the terms hereof on or after the Closing Date, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender in respect of such Letter of Credit agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentU.S. Lender, and each such U.S. Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such U.S. Lender’s 's U.S. Revolving Credit Commitment Percentage. On the date that any Participating Purchasing Lender becomes a party to this Agreement in accordance with subsection 11.618.6, Participating Interests in any outstanding Letter of Credit held by the Revolving U.S. Lender from which such Participating Purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating Purchasing Lender and such transferor Revolving U.S. Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the 66 59 payment of any amount under subsection 3.4(b9.4(b) resulting solely from the such Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Existing Letter of Credit, effective on the Closing Date, and in the case of each Letter of Credit issued in accordance with the terms hereof on or after the Closing Date, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender in respect of such Letter of Credit agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentU.S. Lender, and each such U.S. Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such U.S. Lender’s 's U.S. Revolving Credit Commitment Percentage. On the date that any Participating purchasing Lender becomes a party to this Agreement in accordance with subsection 11.617.6, Participating Interests in any outstanding Letter of Credit held by the Revolving U.S. Lender from which such Participating purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating purchasing Lender and such transferor Revolving U.S. Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b8.4(b) resulting solely from the such Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that ​ provided, that, no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence or willful misconduct.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender Xxxxxx agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such LenderXxxxxx’s Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that provided, that, no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence or willful misconduct.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)Credit, the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentLender, and each such Revolving Credit Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Revolving Credit Lender’s 's Revolving Credit Commitment Percentage. On the date that any Participating Purchasing Lender becomes a party to this Agreement in accordance with subsection 11.614.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Credit Lender from which such Participating Purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating Purchasing Lender and such transferor Revolving Credit Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided PROVIDED that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b5.4(b) resulting solely from the Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit Commitment, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that provided, that, no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b) resulting solely from the Issuing Lender’s gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Existing Letter of Credit, effective on the Closing Date, and in the case of each Letter of Credit issued in accordance with the terms hereof on or after the Closing Date, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender in respect of such Letter of Credit agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentU.S. Lender, and each such U.S. Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such U.S. Lender’s 's U.S. Revolving Credit Commitment Percentage. On the date that any Participating Purchasing Lender becomes a party to this Agreement in accordance with subsection 11.618.6, Participating Interests in any outstanding Letter of Credit held by the Revolving U.S. Lender from which such Participating Purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating Purchasing Lender and such transferor Revolving U.S. Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b9.4(b) resulting solely from the such Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective In the case of each Existing Letter of Credit, effective on the Closing Date, and in the case of each Letter of Credit issued in accordance with the terms hereof on or after the Closing Date, effective as of the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof)thereof, the Issuing Lender in respect of such Letter of Credit agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentU.S. Lender, and each such U.S. Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such U.S. Lender’s 's U.S. Revolving Credit Commitment Percentage. On the date that any Participating Purchasing Lender becomes a party to this Agreement in accordance with subsection 11.618.6, Participating Interests in any outstanding Letter of Credit held by the Revolving U.S. Lender from which such Participating Purchasing Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating Purchasing Lender and such transferor Revolving U.S. Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be 70 63 irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b9.4(b) resulting solely from the such Issuing Lender’s 's gross negligence or willful misconduct.

Participating Interests. Effective as of the date hereof (in the case of outstanding Letters of Credit on such date) or the date of the issuance of each Letter of Credit (in the case of a Letter of Credit issued after the date hereof), the Issuing Lender agrees to allot, and does allot, to each other Revolving Lender with a Revolving Credit CommitmentLender, and each such Lender severally and irrevocably agrees to take and does take, a Participating Interest in such Letter of Credit and the related Letter of Credit Application in a percentage equal to such Lender’s 's Revolving Credit Commitment Percentage. On the date that any Participating Lender becomes a party to this Agreement in accordance with subsection 11.613.6, Participating Interests in any outstanding Letter of Credit held by the Revolving Lender from which such Participating Lender acquired its interest hereunder shall be proportionately reallocated reallotted between such Participating Lender and such transferor Revolving Lender. Each Participating Lender hereby agrees that its obligation to participate in each Letter of Credit issued in accordance with the terms hereof and to pay or to reimburse the Issuing Lender in respect of such Letter of Credit for its participating share of the drafts drawn thereunder shall be irrevocable and unconditional; provided that no Participating Lender shall be liable for the payment of any amount under subsection 3.4(b4.4(b) resulting solely from the Issuing Lender’s 's gross negligence or willful misconduct.