Effect of Honor of L/C's. The Borrowers shall reimburse the Administrative Agent for the amount of any honoring of any L/C. Any such honoring which is not so reimbursed on the Business Day when so honored shall constitute a Revolving Credit Loan.
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Samples: Loan Agreement (Dynamics Research Corp), Loan Agreement (Dynamics Research Corp)
Effect of Honor of L/C's. The Borrowers Borrower shall reimburse the Administrative Agent Lender --------------- -------- for the amount of any honoring of any L/C. Any such honoring which is not so reimbursed on the Business Day when so honored shall constitute a Revolving Credit Loan.
Appears in 1 contract
Samples: Loan and Security Agreement (Number Nine Visual Technology Corp)
Effect of Honor of L/C's. The Borrowers shall reimburse the Administrative Agent Lender for the amount of any honoring of any L/C. Any such honoring which is not so reimbursed on the Business Day when so honored shall constitute a Revolving Credit Loan.
Appears in 1 contract
Effect of Honor of L/C's. The Borrowers Borrower shall reimburse the Administrative Agent Lender for the amount of any honoring of any honored L/C. Any such honoring which is not so reimbursed on the Business Day when so honored shall constitute a Revolving Credit Loanan Advance.
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