Common use of Deemed Disbursements Clause in Contracts

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower of its obligations under this Section, following the occurrence and during the continuation of any other Event of Default, (a) the Letter of Credit Stated Amount shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the Letter of Issuer (notwithstanding that such amount may not in fact have been paid or disbursed); and (b) the Borrower shall be immediately obligated to reimburse the Letter of Credit Issuer for the amount deemed to have been so paid or disbursed by the Letter of Credit Issuer. Amounts payable by the Borrower pursuant to this Section shall be deposited in immediately available funds with the Administrative Agent and held as collateral security for the Letter of Credit Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Administrative Agent shall return to the Borrower all amounts then on deposit with the Administrative Agent pursuant to this Section which have not been applied to the satisfaction of the Letter of Credit Reimbursement Obligations.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under clauses (a) through (d) of Section 8.1.9 or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower Borrowers of its obligations under this Section, following the occurrence and during the continuation of any other Event of Default, (a) the Letter aggregate Stated Amount of all Letters of Credit Stated Amount shall, without demand upon or notice to the any Borrower or any other Person, be deemed to have been paid or disbursed by the Letter of Issuer Issuers (notwithstanding that such amount may not in fact have been paid or disbursed); and (b) the each Borrower shall be immediately obligated to reimburse the Letter of Credit Issuer for the amount deemed to have been so paid or disbursed by the Letter of Credit such Issuer. Amounts payable by the Borrower Borrowers pursuant to this Section shall be deposited in immediately available funds with the Administrative Collateral Agent and held as collateral security for the Letter of Credit Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Administrative Collateral Agent shall return to the Borrower Borrowers all amounts then on deposit with the Administrative Collateral Agent pursuant to this Section which have not been applied to the satisfaction of the Letter of Credit Reimbursement Obligations.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower of its obligations under this Section, following the occurrence and during the continuation of any other Event of Default, (a) the Letter aggregate Stated Amount of all Letters of Credit Stated Amount shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the Letter Issuer of Issuer such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed); and (b) the Borrower shall be immediately obligated to reimburse deposit with the Letter of Credit Issuer for the amount deemed to have been so paid or disbursed by the Letter of Credit Issuer. Amounts payable by the Borrower pursuant to this Section shall be deposited in immediately available funds with the Administrative Agent and held as collateral security for the Letter of Credit Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Administrative Agent shall return to the Borrower all amounts then on deposit with the Administrative Agent pursuant to this Section which have not been applied to the satisfaction of the Letter actual Reimbursement Obligations not arising by operation of Credit Reimbursement Obligationsthis Section 2.6.4.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower Company of its obligations under this Section, following the occurrence and during the continuation of any other Event of Default, (a) the Letter aggregate Stated Amount of all Letters of Credit Stated Amount shall, without demand upon or notice to the Borrower Company or any other Person, be deemed to have been paid or disbursed by the Letter Issuers of Issuer such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed); and (b) the Borrower Company shall be immediately obligated to reimburse the Letter of Credit Issuer Issuers for the amount deemed to have been so paid or disbursed by the Letter of Credit Issuersuch Issuers. Amounts payable by the Borrower Company pursuant to this Section shall be deposited in immediately available funds with the Administrative Agent and held as collateral security for the Letter of Credit Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Administrative Agent shall return to the Borrower Company all amounts then on deposit with the Administrative Agent pursuant to this Section which have not been applied to the satisfaction of the Letter of Credit Reimbursement Obligations.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower Account Party of its obligations under this Section, Section following the occurrence and during the continuation of any other Event of Default, (a) the Letter aggregate Stated Amount of all Letters of Credit Stated Amount shall, without demand upon or notice to the Borrower Account Party or any other Person, be deemed to have been paid or disbursed by the Letter Issuer of Issuer such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed); and (b) the Borrower Account Party shall be immediately obligated to reimburse the Letter of Credit Issuer for the amount deemed to have been so paid or disbursed by the Letter of Credit Issuer. Amounts payable by the Borrower Account Party pursuant to this Section shall be deposited in immediately available funds with the Administrative Agent and held as collateral security for the Letter of Credit Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived the Administrative Agent shall return to the Borrower Account Party all amounts then on deposit with the Administrative Agent pursuant to this Section which have not been applied to the satisfaction of the Letter of Credit Reimbursement Obligations.