Common use of Binding Effect of Committed Loan Notices Clause in Contracts

Binding Effect of Committed Loan Notices. Each Committed Loan Notice for a Drawing shall be irrevocable and binding on TCCI. In the case of any proposed Drawing, TCCI shall indemnify each Tranche B Lender (absent any gross negligence by the Tranche B Lender) against any loss, cost or expense incurred by such Tranche B Lender as a result of any failure to fulfill on or before the date specified in the Committed Loan Notice for such Drawing the applicable conditions set forth in Section 4.2, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Tranche B Lender to fund the Drawing Purchase Price to be paid by such Tranche B Lender for Drafts when, as a result of such failure, such Drafts are not issued on such date (but, in any event, excluding any loss of profit and the Drawing Fee applicable to such Drafts).

Binding Effect of Committed Loan Notices. Each Committed Loan Notice for a Drawing shall be irrevocable and binding on TCCI. In the case of any proposed Drawing, TCCI shall indemnify each Tranche B C Lender (absent any gross negligence by the Tranche B C Lender) against any loss, cost or expense incurred by such Tranche B C Lender as a result of any failure to fulfill on or before the date specified in the Committed Loan Notice for such Drawing the applicable conditions set forth in Section 4.2, including, without limitation, any loss, cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Tranche B C Lender to fund the Drawing Purchase Price to be paid by such Tranche B C Lender for Drafts when, as a result of such failure, such Drafts are not issued on such date (but, in any event, excluding any loss of profit and the Drawing Fee applicable to such Drafts).