Common use of Drawing and Reimbursement Clause in Contracts

Drawing and Reimbursement. (a) The Borrower will reimburse the Issuing Bank for the amount of each draft presented under a Letter of Credit and paid by the Issuing Bank and any taxes, fees, charges or other costs or expenses reasonably incurred by the Issuing Bank in connection with such payment. Each such reimbursement shall be effected by a Reference Rate Advance from the Issuing Bank in accordance with Section 2.10(b). The Issuing Bank will notify the Borrower promptly of each payment by the Issuing Bank of a draft presented under a Letter of Credit.

Drawing and Reimbursement. (a) The Borrower will reimburse the each Issuing Bank for the amount of each draft presented under a Letter of Credit and paid by the such Issuing Bank and any taxes, fees, charges or other costs or expenses reasonably incurred by the such Issuing Bank in connection with such payment. Each such reimbursement shall be effected by a Reference Rate Advance from the such Issuing Bank in accordance with Section 2.10(b). The Each Issuing Bank will notify the Borrower promptly of each payment by the such Issuing Bank of a draft presented under a Letter of Credit.