Common use of Drawing and Reimbursement Clause in Contracts

Drawing and Reimbursement. The payment by the Issuing Bank of a Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership in the amount of such payment. In the event that a Drawing is not repaid by the Partnership by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) to the Partnership, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such Drawing, for application to repay the Issuing Bank, and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR Loan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR Loan for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Tenaska Georgia Partners Lp)

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Drawing and Reimbursement. The payment by the Issuing Bank of a the Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership Company in the amount of such payment. In the event that a the Drawing is not repaid by the Partnership Company by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) loan to the PartnershipCompany, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such the Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such the Drawing, for application to repay the Issuing BankBank (such loan by a Bank to be referred to as a "CP LOC Loan"), and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR Loanloan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR CP LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR CP LOC Loan for all purposes of under this Agreement.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Aes Ironwood LLC)

Drawing and Reimbursement. (a) The payment by the Issuing Bank of a Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership Company in the amount of such payment. In the event that a Drawing is not repaid by the Partnership Company by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) loan to the PartnershipCompany, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such Drawing, for application to repay the Issuing BankBank (each such loan by a Bank to be referred to as a "DSR LOC Loan"), and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR LOC Loan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR LOC Loan for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Aes Ironwood LLC)

Drawing and Reimbursement. (a) The payment by the Issuing Bank of a Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership in the amount of such payment. In the event that a Drawing is not repaid by the Partnership by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) loan to the Partnership, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such Drawing, for application to repay the Issuing Bank (each such loan by a Bank, which shall be either a PPA LOC Loan or a PPA Term Loan, to be referred to as a "PPA LOAN"), and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR PPA Loan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR PPA LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR PPA Loan (either a PPA LOC Loan or a PPA Term Loan, as applicable) for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Tenaska Georgia Partners Lp)

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Drawing and Reimbursement. (a) The payment by the Issuing Bank of a Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership Company in the amount of such payment. In the event that a Drawing is not repaid by the Partnership Company by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) loan to the PartnershipCompany, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such Drawing, for application to repay the Issuing BankBank (each such loan by a Bank to be referred to as a "DSR LOC LOAN"), and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR LOC Loan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR LOC Loan for all purposes of this Agreement.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Aes Red Oak LLC)

Drawing and Reimbursement. The payment by the Issuing Bank of a Drawing shall constitute the making by the Issuing Bank of a loan to the Partnership Company in the amount of such payment. In the event that a Drawing is not repaid by the Partnership Company by 10:00 a.m. (New York City time), on the day of such Drawing, the Agent shall promptly notify each other Bank. Each such Bank (including the Issuing Bank in its capacity as a Bank) shall, on the day of such notification, make a DSR Loan (either a DSR LOC Loan or a DSR Term Loan) loan to the PartnershipCompany, which shall be used to repay the applicable portion of the Issuing Bank's loan with respect to such Drawing, in an amount equal to the amount of such Bank's Percentage Interest in such the Drawing, for application to repay the Issuing BankBank (such loan by a Bank to be referred to as a "PPA LOC LOAN"), and shall deliver to the Agent for the Issuing Bank's account, on the day of such notification and in immediately available funds, the amount of such DSR Loanloan. In the event that any Bank fails to make available to the Agent for the account of the Issuing Bank the amount of such DSR PPA LOC Loan, the Issuing Bank shall be entitled to recover such amount on demand from such Bank together with interest thereon at the Federal Funds Rate and until such reimbursement is made, the unreimbursed amount of the Issuing Bank's loan shall be deemed to be a DSR PPA LOC Loan for all purposes of under this Agreement.

Appears in 1 contract

Samples: Power Purchase Agreement (Aes Red Oak LLC)

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