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Participations
Participations contract clause examples

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason, including after the 1">Revolving Credit Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 3">Revolving Commitments.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank 3">thereof or5"> any of the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 7">respective7">applicable Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 9">amendment9">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 11">Revolving Commitments.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of 1">the respective1">such Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 3">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.3">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 5">amendment5">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving 7">Commitments.7">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any reason, including after the 1">Revolving Credit Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 3">Revolving Commitments.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank or the Revolving Lenders, 3">such3">the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from 5">such5">the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 7">respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by 9">such9">the Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 11">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.11">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 13">amendment13">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving 15">Commitments.15">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Lenders, such Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of 1">the respective1">such Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by such Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 3">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.3">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 5">amendment5">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Revolving 7">Commitments.7">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank or the Revolving Lenders, 3">such3">the Issuing Bank hereby grants to each 5">Revolving Lender,5">Lender with respect to a Letter of Credit, and each7"> applicable Revolving Lender hereby acquires from 9">such9">the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 11">respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by 13">such13">the Issuing Bank and not reimbursed by the15"> applicable Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the 17">applicable Borrower for any 19">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.19">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 21">amendment21">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 23">Revolving Commitments.23">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank or the Revolving Lenders, 3">such3">the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from 5">such5">the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 7">respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by 9">such9">the Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 11">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.11">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 13">amendment13">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 15">Revolving Commitments.15">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank or the Revolving Lenders, 3">such3">the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from 5">such5">the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 7">respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by 9">such9">the Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 11">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.11">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 13">amendment13">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 15">Revolving Commitments.15">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the 1">applicable Issuing Bank or the Revolving Lenders, 3">such3">the Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from 5">such5">the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the 7">respective Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by 9">such9">the Issuing Bank and not reimbursed by the Borrower on the date due as provided in paragraph # of this Section, or of any reimbursement payment required to be refunded to the Borrower for any 11">reason, including after the Maturity Date. Each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.11">reason. Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any 13">amendment13">amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the 15">Revolving Commitments.15">Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

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