Equalization. If any Bank receives any payment or makes any application on account of its Letter of Credit Participating Interest, such Bank shall forthwith pay over to the Issuing Bank, in Dollars and in like kind of funds received or applied by it the amount in excess of such Bank's ratable share of the amount so received or applied.
Appears in 3 contracts
Sources: Letter of Credit Facility and Reimbursement Agreement (Xl Capital LTD), Letter of Credit Facility and Reimbursement Agreement (Alleghany Corp /De), Letter of Credit Facility and Reimbursement Agreement (Xl Capital LTD)
Equalization. If any Bank receives any payment or makes any ------------ application on account of its Letter of Credit Participating Interest, such Bank shall forthwith pay over to the Issuing Bank, in Dollars and in like kind of funds received or applied by it the amount in excess of such Bank's ratable share of the amount so received or applied.
Appears in 1 contract
Sources: Letter of Credit Facility and Reimbursement Agreement (Xl Capital LTD)
Equalization. If any Bank receives any payment or makes any application on account of its Letter of Credit Participating Interest, such Bank shall forthwith pay over to the relevant Issuing Bank, in Dollars and in like kind of funds received or applied by it the amount in excess of such Bank's ratable share of the amount so received or applied.
Appears in 1 contract
Sources: Credit Agreement (C Cor Net Corp)
Equalization. If any Bank receives any payment or makes any application on account of its Letter of Credit Participating Interest, such Bank shall forthwith pay over to the Issuing Bank, in Dollars and in like kind of funds received or applied by it the amount in excess of such Bank's ratable share of the amount so received or applied.in
Appears in 1 contract
Equalization. If any Bank receives any payment or makes any application on account of its Letter of Credit Participating Interest, such Bank shall forthwith pay over to the Issuing Bank, in Dollars and in like kind of funds received or applied by it it, the amount in excess of such Bank's ratable Pro Rata share of the amount so received or applied.
Appears in 1 contract
Equalization. If any Bank receives any payment or makes any ------------ application on account of its Letter of Credit Participating InterestInterest in a Letter of Credit, such Bank shall forthwith pay over to the Issuing Bank, Bank of such Letter of Credit in Dollars and in like kind of funds received or applied by it the amount in excess of such Bank's ratable share of the amount so received or applied.
Appears in 1 contract