Common use of Administration; Reimbursement by Banks Clause in Contracts

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company and each other Bank as to the amount to be paid by such Issuer as a result of such demand and the proposed payment date (the “Letter of Credit Payment Date”). The responsibility of any Issuer to the Company and each Bank shall be only to determine that the documents delivered under each applicable Letter of Credit in connection with a demand for payment are in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Bank shall be unconditionally and irrevocably obligated, without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse such Issuer on demand for (i) such Bank’s Pro Rata Share of the amount of each payment made by such Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company pursuant to Section 2.16(f) below, plus (ii) interest on the foregoing amount, for each day from the date of the applicable payment by such Issuer to the date on which such Issuer is reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum equal to the Federal Funds Effective Rate or, beginning on third Business Day after demand for such amount by such Issuer, the rate applicable to Floating Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company Borrower and each other Facility A Bank as to the amount to be paid by such the LC Issuer as a result of such demand and the proposed payment date (the “Letter of Credit "LC Payment Date”"). The responsibility of any the LC Issuer to the Company Borrower and each Bank shall be only to determine that the documents (including, without limitation, each demand for payment) delivered under each applicable Letter of Credit in connection with a demand for payment are such presentment shall be in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Facility A Bank shall be unconditionally and irrevocably obligated, liable without regard to the occurrence of any Default or Event of Default or any condition precedent whatsoever, to reimburse such the LC Issuer on demand for (i) such Bank’s Pro Rata Share 's Facility A Percentage of the amount of each payment made by such the LC Issuer under each Letter of Credit (whether such payment is made before, on or after the Commitment Termination Date) to the extent such amount is not reimbursed by the Company Borrower pursuant to Section 2.16(f) below2.21(F), plus (ii) interest on the foregoing amountamount to be reimbursed by such Bank, for each day from the date of the applicable payment by LC Issuer's demand for such Issuer reimbursement to the date on which such Issuer is Bank pays the amount to be reimbursed by such Bank for its Pro Rata Share thereofit, at a rate of interest per annum equal to the Federal Funds Effective Rate orfor the first three days and, beginning on third Business Day after demand for such amount by such Issuerthereafter, at a rate of interest equal to the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company and each other Bank as to the amount to be paid by such Issuer as a result of such demand and the proposed payment date (the “Letter of Credit Payment Date”)demand. The responsibility of any Issuer to the Company and each Bank shall be only to determine that the documents delivered under each applicable Letter of Credit in connection with a demand for payment are in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Bank shall be unconditionally and irrevocably obligated, without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse such Issuer on demand for (i1) such Bank’s Pro Rata Share of the amount of each payment made by such Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company pursuant to Section 2.16(f) below, plus (ii1) interest on the foregoing amount, for each day from the date of the applicable payment by such Issuer to the date on which such Issuer is reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum equal to the Federal Funds Effective Rate or, beginning on the third Business Day after demand for such amount by such Issuer, the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company and each other Bank as to the amount to be paid by such Issuer as a result of such demand and the proposed payment date (the “Letter of Credit Payment Date”)demand. The responsibility of any Issuer to the Company and each Bank shall be only to determine that the documents delivered under each applicable Letter of Credit in connection with a demand for payment are in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such IssuerIssuer (as determined in a final non-appealable judgment by a court of competent jurisdiction), each Bank shall be unconditionally and irrevocably obligated, without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse such Issuer on demand for (i) such Bank’s Pro Rata Share of the amount of each payment made by such Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company pursuant to Section 2.16(f) below, plus (ii) interest on the foregoing amount, for each day from the date of the applicable payment by such Issuer to the date on which such Issuer is reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum equal to the Federal Funds Effective Rate or, beginning on the third Business Day after demand for such amount by such Issuer, the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company Borrower and each other Facility A Bank as to the amount to be paid by such the LC Issuer as a result of such demand and the proposed payment date (the “Letter of Credit "LC Payment Date”"). The responsibility of any the LC Issuer to the Company Borrower and each Bank shall be only to determine that the documents (including, without limitation, each demand for payment) delivered under each applicable Letter of Credit in connection with a demand for payment are such presentment shall be in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Facility A Bank shall be unconditionally and irrevocably obligated, liable without regard to the occurrence of any Default or Event of Default or any condition precedent whatsoever, to reimburse such the LC Issuer on demand for (i) such Bank’s Pro Rata Share 's Facility A Percentage of the amount of each payment made by such the LC Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company Borrower pursuant to Section 2.16(f) below2.20(F), plus (ii) interest on the foregoing amountamount to be reimbursed by such Bank, for each day from the date of the applicable payment by LC Issuer's demand for such Issuer reimbursement to the date on which such Issuer is Bank pays the amount to be reimbursed by such Bank for its Pro Rata Share thereofit, at a rate of interest per annum equal to the Federal Funds Effective Rate orfor the first three days and, beginning on third Business Day after demand for such amount by such Issuerthereafter, at a rate of interest equal to the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company and each other Bank as to the amount to be paid by such Issuer as a result of such demand and the proposed payment date (the “Letter of Credit Payment Date”)demand. The responsibility of any Issuer to the Company and each Bank shall 709152408 03173762 be only to determine that the documents delivered under each applicable Letter of Credit in connection with a demand for payment are in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Bank shall be unconditionally and irrevocably obligated, without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse such Issuer on demand for (i) such Bank’s Pro Rata Share of the amount of each payment made by such Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company pursuant to Section 2.16(f) below, plus (ii) interest on the foregoing amount, for each day from the date of the applicable payment by such Issuer to the date on which such Issuer is reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum equal to the Federal Funds Effective Rate or, beginning on the third Business Day after demand for such amount by such Issuer, the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Banks. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Company and each other Bank as to the amount to be paid by such Issuer as a result of such demand and the proposed payment date (the “Letter of Credit Payment Date”)demand. The responsibility of any Issuer to the Company and each Bank shall be only to determine that the documents delivered under each applicable Letter of Credit in connection with a demand for payment are in conformity in all material respects with such Letter of Credit. Each Issuer shall endeavor to exercise the same care in its issuance and administration of Letters of Credit as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by such Issuer, each Bank shall be unconditionally and irrevocably obligated, without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse such Issuer on demand for (i) such Bank’s Pro Rata Share of the amount of each payment made by such Issuer under each Letter of Credit to the extent such amount is not reimbursed by the Company pursuant to Section 2.16(f) below, plus (ii) interest on the foregoing amount, for each day from the date of the applicable payment by such Issuer to the date on which such Issuer is reimbursed by such Bank for its Pro Rata Share thereof, at a rate per annum equal to the Federal Funds Effective Rate or, beginning on the third Business Day after demand for such amount by such Issuer, the rate applicable to Floating Base Rate Advances.