Common use of Deemed Disbursements Clause in Contracts

Deemed Disbursements. Upon the occurrence and during the continuation of any 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, at any time following the occurrence and during the continuation of any other Event of Default, (i) the aggregate Stated Amount of all Letters of Credit shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the applicable Issuers of such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed), and (ii) the Borrower shall be immediately obligated to deposit with the Administrative Agent the amount deemed to have been so paid or disbursed by the Issuers. 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 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 actual Reimbursement Obligations not arising by operation of this Section 2.6.4.

Deemed Disbursements. Upon the occurrence and during the continuation of any Default under Section 8.1.9 or, with respect to the Parent or the Borrower or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower of its obligations under this Section, at any time following the occurrence and during the continuation of any other Event of Default, (i) the aggregate Stated Amount of all Letters of Credit shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the applicable Issuers of such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed), and (ii) the Borrower shall be immediately obligated to deposit with reimburse the Administrative Agent Issuers for the amount deemed to have been so paid or disbursed by the such Issuers. 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 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 actual the Reimbursement Obligations not arising by operation of this Section 2.6.4Obligations.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or, 9.1(i) or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) Lender to the Borrower of its obligations under this Section, at any time Section following the occurrence and during the continuation of any other Event of Default, (i) : the aggregate Stated Amount of all Letters of Credit shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the applicable Issuers of such Letters of Credit Lender (notwithstanding that such amount may not in fact have been paid or disbursed), ; and (ii) the Borrower shall be immediately obligated to deposit with reimburse the Administrative Agent Lender for the amount deemed to have been so paid or disbursed by the Issuersdisbursed. Amounts payable by the Borrower pursuant to this Section shall be deposited in immediately available funds with the Administrative Agent Lender and held as collateral security for the Reimbursement Obligations and all other Obligations. When all Defaults Events of Default giving rise to the deemed disbursements under this Section have been cured or waived waived, the Administrative Agent shall Lender shall, if no other Events of Default is then existing, return to the Borrower all amounts then on deposit with the Administrative Agent Lender pursuant to this Section which have not been applied to the satisfaction of actual the Reimbursement Obligations not arising by operation of this Section 2.6.4and/or all other Obligations.

Deemed Disbursements. Upon the occurrence and during the continuation of any Event of Default under Section 8.1.9 or, or upon notification by the Administrative Agent (acting at the direction of the Required Lenders) to the Borrower of its obligations under this Section, at any time following the occurrence and during the continuation of any other Event of Default, (i) the aggregate Stated Amount an amount equal to that portion of all Letters of Credit Outstandings attributable to the then aggregate amount which is undrawn and available under all Letters of Credit issued and outstanding shall, without demand upon or notice to the Borrower or any other Person, be deemed to have been paid or disbursed by the applicable Issuers of such Letters of Credit (notwithstanding that such amount may not in fact have been paid or disbursed), and (ii) the Borrower shall be immediately obligated to deposit with reimburse the Administrative Agent Issuers for the amount deemed to have been so paid or disbursed by the such Issuers. Amounts payable by the Borrower pursuant to this Section shall be deposited in cash in immediately available funds with the Administrative Agent and held as collateral security for the Reimbursement Obligations. When all Defaults giving rise to the deemed disbursements under this Section have been cured or waived 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 actual the Reimbursement Obligations not arising by operation of this Section 2.6.4Obligations.