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Participations
Participations contract clause examples

each Incremental Lender in respect of such increase will automatically and without further act be deemed to have assumed a portion of each Revolving Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding # participations hereunder in Letters of Credit and # participations hereunder in Swingline Loans held by each Lender (including each such Incremental

each Revolving [[Lender:Organization]] immediately prior to such increase will automatically and without further act be deemed to have assigned to each [[Lender:Organization]] providing a portion of such increase (each an “Incremental Revolving Facility [[Lender:Organization]]”), and each such Incremental Revolving Facility [[Lender:Organization]] will automatically and without further act be deemed to have assumed, a portion of such Revolving [[Lender:Organization]]’s participations hereunder in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding # participations hereunder in Letters of Credit and # participations hereunder in Swing Line Loans held by each Revolving [[Lender:Organization]] will equal the percentage of the aggregate Revolving Commitments of all Lenders represented by such Revolving [[Lender:Organization]]’s Revolving Commitments; and

On the Incremental Facility Closing Date, pursuant to [Section 2.20(c)] of the Credit Agreement, each Revolving Credit Lender (other than Incremental Revolving Lenders, in their capacity as such) immediately prior to the increase in Revolving Credit Commitments provided by this Agreement will automatically and without further act be deemed to have assigned to each Incremental Revolving Lender providing an Incremental Revolving Commitment, and each such Incremental Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender’s participations under the Credit Agreement in outstanding Letters of Credit such that, after giving effect to the Incremental Revolving Commitments and each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations under the Credit Agreement in Letters of Credit held by each Revolving Credit Lender (including each Incremental Revolving Lender) will equal such Revolving Credit Lender’s Applicable Percentage.

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