Common use of Administration; Reimbursement by Xxxxxxx Clause in Contracts

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity with such Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below, plus (ii) interest on the foregoing amount to be reimbursed by such Xxxxxx, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business Day) to the date on which such Lender pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate Advances.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the "“LC Payment Date"”). The responsibility of the LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity with such Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such Lender'’s Pro Rata Share of the amount of each payment made by the LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the LC Issuer'’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate Advances.. 36

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under any Facility LC from the beneficiary of such Facility LC, the LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 negligence, bad faith or willful misconduct by the LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.19(f) below and there are not funds available in the Facility LC Collateral Account to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 10:00 a.m. (Chicago timePacific Standard Time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, it at a rate the greater of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at and a rate of interest equal to determined by the rate applicable to Floating Rate AdvancesAdministrative Agent in accordance with banking industry rules on interbank compensation.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the applicable LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower Borrowers and each other Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the applicable LC Issuer to the Borrower Borrowers and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the any LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the each LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower Borrowers pursuant to Section 2.20.6 below2.19(g) below and there are not funds available in the Facility LC Collateral Account to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the any LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago Central time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, it at a rate the greater of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at and a rate of interest equal to determined by the rate applicable to Floating Rate AdvancesAdministrative Agent in accordance with banking industry rules on interbank compensation.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under any Facility LC from the beneficiary of such Facility LC, the applicable LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Revolving Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Honor Date”). The responsibility of the each LC Issuer to the Borrower and each Revolving Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the any LC Issuer, each Revolving Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the such LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.19(f) below and there are not funds available in the Facility LC Collateral Account to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three (3) days and, thereafter, at a rate of interest equal to the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under any Facility LC from the beneficiary of such Facility LC, the relevant LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”)date. The responsibility of the relevant LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the such LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the such LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.19(f) below and there is no Cash Collateral available to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the such LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago New York City time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, it at a rate the greater of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at and a rate of interest equal to determined by the rate applicable to Floating Rate AdvancesAdministrative Agent in accordance with banking industry rules on interbank compensation.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the applicable LC Issuer shall notify the Administrative Designated Agent and the Administrative Designated Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the each LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the such LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the such LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.19(f) below and there are not funds available in the Facility LC Collateral Account to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the such LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago Eastern time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three (3) days and, thereafter, at a rate of interest equal to the rate applicable to Floating Base Rate Advances.. 4887-5363-3879v24887-5363-3879v.5

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the LC Issuer, each Lender shall be unconditionally and irrevocably liable liable, without regard to the occurrence of the Commitment Termination Date or the Final Termination Date, the occurrence of any Event of Default or Unmatured Event of Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such LenderXxxxxx’s Pro Rata Share of the amount of each payment made by the LC Issuer under each any Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.16.6, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) A.M. on such dateday, from the next succeeding Business Day) to the date on which such Lender pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate AdvancesBase Rate.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the LC Issuer, each Lender shall be unconditionally and irrevocably liable liable, without regard to the occurrence of the Commitment Termination Date or the Final Termination Date, the occurrence of any Event of Default or Unmatured Event of Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such LenderXxxxxx’s Pro Rata Share of the amount of each payment made by the LC Issuer under each any Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.16.6, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) A.M. on such dateday, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate AdvancesBase Rate.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the applicable LC Issuer shall notify the Administrative Designated Agent and the Administrative Designated Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the each LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs 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 the such LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Event of Default or any condition precedent whatsoever, to reimburse the such LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 below2.19(f) below and there are not funds available in the Facility LC Collateral Account to cover the same, plus (ii) interest on the foregoing amount to be reimbursed by such XxxxxxLender, for each day from the date of the such LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago Eastern time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three (3) days and, thereafter, at a rate of interest equal to the rate applicable to Floating Base Rate Advances.

Administration; Reimbursement by Xxxxxxx. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the applicable LC Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid by the such LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the such LC Issuer to the Borrower and each Lender shall be only to determine that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in substantial conformity in all material respects with such Facility LC. The Each LC Issuer shall endeavor to exercise the same care in the issuance and administration of the Facility LCs issued by such LC Issuer 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 the LC Issuer, each Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Default or any condition precedent whatsoever, whatsoever to reimburse the such LC Issuer on demand for (i) such Lender’s Pro Rata Share of the amount of each payment made by the such LC Issuer under each Facility LC issued by such LC Issuer to the extent such amount is not reimbursed by the Borrower pursuant to Section 2.20.6 2.16(e) below, plus (ii) interest on the foregoing amount to be reimbursed by such Xxxxxx, for each day from the date of the such LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago New York City time) on such date, from the next succeeding Business Day) to the date on which such Lender Xxxxxx pays the amount to be reimbursed by it, at a rate of interest per annum equal to the Federal Funds Effective Rate for the first three days and, thereafter, at a rate of interest equal to the rate applicable to Floating Rate Adjusted Term SOFR Advances.