Common use of Disbursements Clause in Contracts

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers hereby acknowledge and agree that they shall be obligated, jointly and severally, to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor).

Appears in 3 contracts

Samples: Credit Agreement (Chesapeake Corp /Va/), Credit Agreement (Chesapeake Corp /Va/), Credit Agreement (Chesapeake Corp /Va/)

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Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to clause (a) of Section 3.2 3.2.1 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 3 contracts

Samples: Credit Agreement (Kansas City Southern), Credit Agreement (Kansas City Southern De Mexico, S.A. De C.V.), Credit Agreement (Kansas City Southern De Mexico, S.A. De C.V.)

Disbursements. The Issuer will notify the U.S. Borrower Representative and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 p.m. (noon) on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of CreditApplication, the Borrowers theeach Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (hereunder, whether issued for the account party on such Letter of Credit is any thea Borrower or a Subsidiary Guarantor)any Obligor.

Appears in 3 contracts

Samples: Credit Agreement, Credit Agreement (Parametric Sound Corp), Credit Agreement (Parametric Sound Corp)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. a.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 2 contracts

Samples: Credit Agreement (Stillwater Mining Co /De/), Credit Agreement (United Auto Group Inc)

Disbursements. The Each Issuer of a Letter of Credit hereunder will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any such Letter of Credit issued by the IssuerCredit, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the such Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. Not later than 12:00 noon on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the such Issuer, for all amounts which the such Issuer has disbursed under such Letter of CreditCredit in good faith, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Alternate Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the each Issuer upon each Disbursement by such Issuer of a Letter of CreditCredit made by such Issuer in good faith, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 2 contracts

Samples: Credit Agreement (Associated Materials Inc), Credit Agreement (Associated Materials Inc)

Disbursements. The An Issuer will notify the U.S. applicable Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 p.m. on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with plus the then Applicable Margin for Revolving such Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Revolving Loan Borrower (in respect of Revolving Letters of Credit) and each Borrower (in respect of Synthetic Letters of Credit) hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Swift Holdings Corp.), Credit Agreement (Swift Holdings Corp.)

Disbursements. The Issuer will notify the U.S. Administrative Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. (New York time) on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, Credit together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 hereof for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Winn Dixie Stores Inc), Credit Agreement (Winn Dixie Stores Inc)

Disbursements. The An Issuer will notify the U.S. Borrower Borrowers and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative AgentAgent (which may be financed by a Revolving Loan or Swing Line Loan), for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to clause (a) of Section 3.2 3.2.1 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, obligated jointly and severally, severally to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Sabre Industries, Inc.), Credit Agreement (Sabre Industries, Inc.)

Disbursements. The An Issuer will notify the U.S. applicable Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 p.m. on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with plus the then Applicable Margin for Revolving such Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Revolving Loan Borrower (in respect of Revolving Letters of Credit) and each Borrower (in respect of Synthetic Letters of Credit) hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Swift Transportation Co Inc), Credit Agreement (Swift Transportation Co Inc)

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. Not later than 12:00 noon on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of CreditCredit in good faith, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of CreditCredit made by the Issuer in good faith, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Global Power Equipment Group Inc/), Credit Agreement (Global Power Equipment Group Inc/)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m., Charlotte time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 3.3 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

Disbursements. The Issuer will notify the U.S. Borrower KIL and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment Disbursement to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 5:00 p.m., New York City time, on the first Business Day following the Disbursement Date, the Borrowers will (or any one of them) reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of CreditCredit (in the currency in which such Disbursement was made), together with interest thereon (in the currency in which such Disbursement was made) at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, severally obligated to reimburse the Issuer upon each Disbursement of a Letter of CreditCredit (including Letters of Credit issued for the account of the other Borrowers or a Guarantor), and it each Borrower shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any such Borrower or a Subsidiary Guarantor).

Appears in 2 contracts

Samples: Credit Agreement (Kerzner International Employment Services LTD), Credit Agreement (Kerzner International LTD)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:30 p.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Graphic Packaging Corp)

Disbursements. The An Issuer will notify the U.S. Borrower Company and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this AgreementCredit, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. New York time on the first Business Day following the Disbursement Date, the Borrowers Company will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for U.S. Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Company hereby acknowledge acknowledges and agree agrees that they it is the account party with respect to such Letter of Credit and it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Railamerica Inc /De)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Security Agreement (Titan Corp)

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers hereby acknowledge and agree that they shall be obligated, jointly and severally, to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Corp /Va/)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 SECTION 3.3 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Credit Agreement (Titan Corp)

Disbursements. The Issuer will notify the U.S. Borrower and ------------- the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a ------------------ "Disbursement"). Subject to the terms and provisions of such Letter of Credit ------------- and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 noon, New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date ----------- through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor)hereunder.

Appears in 1 contract

Samples: Credit Agreement (Primestar Inc)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section SECTION 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Commemorative Brands Inc)

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon (not counting the date of reimbursement made in accordance with Section 4.7) at a rate per annum equal to the rate per annum then in effect for Base Rate Term Loans (with the then Applicable Margin for Revolving Term Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Marvel Enterprises Inc)

Disbursements. The Issuer will notify the U.S. Administrative Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. (New York time) on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, Credit together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Disbursements. The An Issuer will notify the U.S. Borrower and the ------------- Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a ------------------ "Disbursement"). Subject to the terms and provisions of such Letter of Credit ------------- and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. a.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for ----------- the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Credit Agreement (Stillwater Mining Co /De/)

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. a.m., Atlanta, Georgia time, on the first fourth Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon on the terms set forth herein for each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor)hereunder.

Appears in 1 contract

Samples: Credit Agreement (Medaphis Corp)

Disbursements. The An Issuer will notify the U.S. Borrower ACT and the Canadian Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. a.m., Montréal time, on the first third Business Day following the Disbursement Date, the Borrowers agree that they will reimburse the Canadian Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Floating Rate Loans (with the then Applicable Margin for applicable Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantoranother Obligor).

Appears in 1 contract

Samples: Credit Agreement (3055854 Nova Scotia Co)

Disbursements. The Issuer will notify the U.S. Administrative Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, Credit together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this AgreementCredit, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. (New York City time) on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Base Rate Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursementreimbursement is due (and thereafter, at such rate plus 2.0%). Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor)hereunder.

Appears in 1 contract

Samples: Credit Agreement (Hecla Mining Co/De/)

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Disbursements. The Each Issuer will notify the U.S. Borrower SIHL and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. a.m., New York City time, on the first Business Day following the Disbursement Date, the Borrowers will (or any one of them) reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Base Rate Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, severally obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of CreditCredit (including Letters of Credit issued for the account of the other Borrowers or a Guarantor), and it each Borrower shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any such Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Revolving Credit Agreement (Sun International Hotels LTD)

Disbursements. The Issuer will notify the U.S. Administrative Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such 35 Xxxx-Xxxxx Amended and Restated Credit Agreement payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Disbursements. The applicable Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorGuarantor (other than UAS)).

Appears in 1 contract

Samples: Credit Agreement (North Shore Agency Inc)

Disbursements. The Issuer will notify the U.S. Borrower and the ------------- Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement ------------ Date") such payment shall be made (each such payment, a "Disbursement"). ---- ------------ Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 noon, New York City time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such ----------- reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor)hereunder.

Appears in 1 contract

Samples: Credit Agreement (Tci Satellite Entertainment Inc)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 noon, New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorRestricted Subsidiary).

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

Disbursements. The An Issuer will notify the U.S. Borrower Company and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers Company will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for U.S. Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Company hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower the Company or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Railamerica Inc /De)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this AgreementCredit, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Credit Agreement (Stillwater Mining Co /De/)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Patent Security Agreement (United Surgical Partners International Inc)

Disbursements. The Issuer will notify the U.S. Borrower Borrowers and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 noon, New York time, on the first Business Day following the Disbursement Date, the Borrowers will agree to jointly and severally reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, severally obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any a Borrower or a Subsidiary GuarantorRestricted Subsidiary).

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section SECTION 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Credit Agreement (Titan Corp)

Disbursements. The Issuer will notify the U.S. applicable Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the applicable Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (United Surgical Partners International Inc)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m. on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (CTC Communications Group Inc)

Disbursements. The An Issuer will notify the U.S. applicable Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. on the first Business Day following the Disbursement Date, the Borrowers applicable Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section SECTION 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers each Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the applicable Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (United Surgical Partners Holdings Inc)

Disbursements. The An Issuer will notify the U.S. Borrower Company and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement DateDISBURSEMENT DATE") such payment shall be made (each such payment, a "DisbursementDISBURSEMENT"). Subject to the terms and provisions of such Letter of Credit and this AgreementCredit, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. New York time on the first Business Day following the Disbursement Date, the Borrowers Company will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for U.S. Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Company hereby acknowledge acknowledges and agree agrees that they it is the account party with respect to such Letter of Credit and it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any Borrower or a Subsidiary Guarantor).

Appears in 1 contract

Samples: Credit Agreement (Railamerica Inc /De)

Disbursements. The An Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the such Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the applicable Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 1:00 p.m., New York time, on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the applicable Issuer, for all amounts which the such Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 3.3 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of Credit, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the applicable Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (whether the account party on such Letter of Credit is any the Borrower or a Subsidiary GuarantorSubsidiary).

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Titan Corp)

Disbursements. The Issuer will notify the U.S. Borrower and the Administrative Agent promptly of the presentment for payment of any Letter of Credit issued by the Issuer, together with notice of the date (the "Disbursement Date") such payment shall be made (each such payment, a "Disbursement"). Subject to the terms and provisions of such Letter of Credit and this Agreement, the Issuer shall make such payment to the beneficiary (or its designee) of such Letter of Credit. Prior to 11:00 a.m. 12:00 p.m. (noon) on the first Business Day following the Disbursement Date, the Borrowers Borrower will reimburse the Administrative Agent, for the account of the Issuer, for all amounts which the Issuer has disbursed under such Letter of Credit, together with interest thereon at a rate per annum equal to the rate per annum then in effect for Base Rate Loans (with the then Applicable Margin for Revolving Loans accruing on such amount) pursuant to Section 3.2 for the period from the Disbursement Date through the date of such reimbursement. Without limiting in any way the foregoing and notwithstanding anything to the contrary contained herein or in any separate application for any Letter of CreditApplication, the Borrowers Borrower hereby acknowledge acknowledges and agree agrees that they it shall be obligated, jointly and severally, obligated to reimburse the Issuer upon each Disbursement of a Letter of Credit, and it shall be deemed to be the obligor for purposes of each such Letter of Credit issued hereunder (hereunder, whether issued for the account party on such Letter of Credit is any the Borrower or a Subsidiary Guarantor)any Obligor.

Appears in 1 contract

Samples: Credit Agreement (Parametric Sound Corp)

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