Tranche B. Upon the date of the issuance of the Tranche B Letter of Credit, the Issuing Lender shall be deemed to have sold to each other Tranche B Lender and each other Tranche B Lender shall have been deemed to have purchased from the Issuing Lender a participation in the related Letter of Credit Obligations equal to such Tranche B Lender’s Tranche B Commitment and such sale and purchase shall otherwise be in accordance with the terms of this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc)