Common use of Participation Obligations Unconditional Clause in Contracts

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any Swing Line Loan as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 4 contracts

Sources: Credit Agreement (MIDDLEBY Corp), Credit Agreement (MIDDLEBY Corp), Credit Agreement (Middleby Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 4 contracts

Sources: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Participation Obligations Unconditional. (a) Each Revolving LenderBank’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 2 contracts

Sources: Credit Agreement (Regal Beloit Corp), Credit Agreement (Tetra Tech Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s Bank's obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 2 contracts

Sources: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 2 contracts

Sources: Credit Agreement (Middleby Corp), Credit Agreement (Middleby Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any Swing Line Loan as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereofSubsidiary, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (American Italian Pasta Co)

Participation Obligations Unconditional. (a) Each Facility A Revolving Lender’s obligation to make available to the Administrative Agent for the account of the applicable Swing Line Lender the amount of its participation interest in any all of such Swing Line Loan Lender’s Swing Line Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Facility A Revolving Lender may have against the such Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Facility A Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the applicable Swing Line Lender of such Swing Line Loan, the such Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Cupertino Electric Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Middleby Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s Bank's obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)

Participation Obligations Unconditional. (a1) Each Facility A Revolving Lender’s obligation to make available to the Administrative Agent for the account of the applicable Swing Line Lender the amount of its participation interest in any all of such Swing Line Loan Lender’s Swing Line Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Facility A Revolving Lender may have against the such Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (ba) Notwithstanding the provisions of clause (a) above, no Facility A Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the applicable Swing Line Lender of such Swing Line Loan, the such Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any Swing Line Loan as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereofSubsidiary, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (American Italian Pasta Co)

Participation Obligations Unconditional. (a) Each Revolving LenderBank’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause subsection (a) above, no Revolving Lender Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)

Participation Obligations Unconditional. (ai) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 2.5(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (iA) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (iiB) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iiiC) any adverse change in the condition (financial or otherwise) of the Parent Borrower or any Subsidiary thereof, (ivD) any termination of the Commitments or (vE) any other circumstance, happening or event whatsoever. (bii) Notwithstanding the provisions of clause (ai) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, if (A) at a reasonable time prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan or (B) at the time of the making of such Swing Line Loan, the Swing Line Lender had actual knowledge of any default in the payment of any principal, interest or fees to be paid to the Administrative Agent for the account of the applicable Lenders.

Appears in 1 contract

Sources: Credit Agreement (Fidelity National Financial Inc /De/)

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any Swing Line Loan as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Middleby Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s 's obligation to make available to the Administrative Agent for the account of the Swing Line Issuing Lender the amount of its participation interest in any Swing Line Loan all Letters of Credit as provided in Section 2.4.3 2.3.5 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Issuing Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan Letter of Credit if, prior to the making issuance by the Swing Line Issuing Lender of such Swing Line LoanLetter of Credit, the Swing Line Issuing Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making issuance of such Swing Line Loan Letter of Credit were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making issuance of such Swing Line LoanLetter of Credit.

Appears in 1 contract

Sources: Credit Agreement (Cupertino Electric Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s Bank's --------------------------------------- obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by ------------- any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereofSubsidiary, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender ---------- Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (United Road Services Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-offsetoff, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Borrower or any Subsidiary thereof, (iv) any termination of the Revolving Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender of such Swing Line Loan, the Swing Line Lender received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Patriot National, Inc.)

Participation Obligations Unconditional. (a1) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender Lenders the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the any Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (ba) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Lenders of such Swing Line Loan, the such Swing Line Lender Lenders received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)

Participation Obligations Unconditional. (a) Each Revolving Lender’s Bank's obligation to make available to the Administrative Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Revolving Commitments (provided that such termination occurred after the making of such Swing Line Loans) or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender Bank shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Synagro Technologies Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s U.S. Bank's --------------------------------------- obligation to make available to the Administrative U.S. Agent for the account of the Swing Line Lender Bank the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 2.5.3 shall be absolute and unconditional and shall not be ------------- affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender U.S. Bank may have against the Swing Line Lender Bank or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender U.S. Bank shall be required to purchase a participation interest in any Swing Line Loan if, if (i) prior to the making by the Swing Line Lender Bank of such Swing Line Loan, the Swing Line Lender Bank received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan or (ii) at the time of the making of such Swing Line Loan, the Swing Line Bank had knowledge of any default in the payment of any principal, interest or fees to be paid to either Agent for the account of the applicable Banks.

Appears in 1 contract

Sources: Credit Agreement (United Rentals North America Inc)

Participation Obligations Unconditional. (a) Each Revolving Lender’s obligation to make available to the Administrative Agent for the account of the Swing Line Lender Lenders the amount of its participation interest in any all Swing Line Loan Loans as provided in Section 2.4.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any set-off, counterclaim, recoupment, defense or other right that which such Revolving Lender may have against the any Swing Line Lender or any other Person, (ii) the occurrence or continuance of an Event of Default or Unmatured Event of Default, (iii) any adverse change in the condition (financial or otherwise) of the Parent Company or any Subsidiary thereof, (iv) any termination of the Commitments or (v) any other circumstance, happening or event whatsoever. (b) Notwithstanding the provisions of clause (a) above, no Revolving Lender shall be required to purchase a participation interest in any Swing Line Loan if, prior to the making by the Swing Line Lender Lenders of such Swing Line Loan, the such Swing Line Lender Lenders received written notice from such Revolving Lender specifying that one or more of the conditions precedent to the making of such Swing Line Loan were not satisfied and, in fact, such conditions precedent were not satisfied at the time of the making of such Swing Line Loan.

Appears in 1 contract

Sources: Credit Agreement (Regal Beloit Corp)