FAILURE TO REIMBURSE DRAWINGS Sample Clauses

FAILURE TO REIMBURSE DRAWINGS. In the event that the applicable Letter of Credit Obligor or, if the applicable Letter of Credit Obligor is not the Borrower, the Borrower fails to make a timely reimbursement, together with any interest thereon, to the Administrative Agent on the date of any drawing on a Letter of Credit, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan to be made to such Letter of Credit Obligor if such Letter of Credit Obligor is the Borrower or, if such Letter of Credit Obligor is not the Borrower, to the Borrower, in an aggregate amount equal to the amount reimbursable to the Designated Letter of Credit Issuer plus any interest thereon. The Administrative Agent shall disburse all such loan proceeds directly to the Designated Letter of Credit Issuer to satisfy the aforesaid reimbursement liability. The obligations of the Lenders to the Administrative Agent under this Section 2.11(f) are in addition to and not in limitation of the obligations of the Lenders under Section 12 of this Agreement. In the event that the obligation of the Lenders to make a Revolving Credit Loan pursuant to this Section 2.11(f) cannot be satisfied by the Lenders because any of the events contemplated by Section 9.13 (to the extent within the scope of clause (c) through (f) of the definition of "Financial Impairment") hereof shall have occurred with respect to the Borrower, or one or more of the Lenders shall determine that such Lenders are otherwise legally prohibited from making such a Revolving Credit Loan, each Lender (other than the applicable Designated Letter of Credit Issuer) or each such Lender so prohibited (other than the Designated Letter of Credit Issuer), as the case may be, shall be obligated to consummate the purchase, on the date the Revolving Credit Loan would have been made pursuant to this Section (e), of its undivided participating interest in the outstanding unpaid reimbursement obligation owing to the Designated Letter of Credit Issuer in an amount equal to the Revolving Credit Loan that such Lender would otherwise have been obligated to fund. On the purchase date, each Lender or each such Lender so prohibited shall pay to the Administrative Agent, for the benefit of the Designated Letter of Credit Issuer, in immediately available funds, at the account of the Administrative Agent maintained at the Payment Office of the Administrative Agent not later than the time such Lender would have been obligated to fund such Revolving Credit...
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FAILURE TO REIMBURSE DRAWINGS. In the event that the applicable Letter of Credit Obligor (or the Borrower guarantying the reimbursement obligation of such Letter of Credit Obligor) fails to make a timely reimbursement, together with any interest thereon, to the Administrative Agent or the Designated European Administrative Agent, as the case may be, on the date of any drawing on a Letter of Credit, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan to be made to such Letter of Credit Obligor if 30 40 such Letter of Credit Obligor is a Borrower or, if such Letter of Credit Obligor is not a Borrower, to the Borrower which is guarantying the reimbursement obligation of such Letter of Credit Obligor, in an aggregate amount equal to the amount reimbursable to the applicable Designated Letter of Credit Issuer plus any interest thereon (the Administrative Agent having determined in the case of any payment by a Designated Letter of Credit Issuer made in an Alternate Currency the equivalent thereof in Dollars). The Administrative Agent or such Designated European Administrative Agent, as the case may be, shall disburse all such loan proceeds directly to the Designated Letter of Credit Issuer to satisfy the aforesaid reimbursement liability. The obligations of the Banks to the Administrative Agent and such Designated European Administrative Agent under this Section 2.12 are in addition to and not in limitation of the obligations of the Banks under Section 11 of this Agreement. In the event that the obligation of the Banks to make a Revolving Credit Loan pursuant to this Section 2.12(f) cannot be satisfied by the Banks because any of the events specified in Section 8.14 shall have occurred with respect to the Borrower for whose account the Letter of Credit has been issued (or which is guarantying the reimbursement obligations of the Letter of Credit Obligor for whose account the Letter of Credit was issued) or one or more of the Banks shall determine that such Banks are legally prohibited from making such a Revolving Credit Loan, each Bank (other than the applicable Designated Letter of Credit Issuer) or each such Bank so prohibited (other than the applicable Designated Letter of Credit Issuer), as the case may be, shall be obligated to purchase on the date the Revolving Credit Loan would have been made pursuant to this Section (e) an undivided participating interest in the outstanding unpaid reimbursement obligation owing to such Designated Letter of Cred...
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Related to FAILURE TO REIMBURSE DRAWINGS

  • Duty to Reimburse Dimensional If, at any time, the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount for such class of shares of the Portfolio, the Fund, on behalf of the Portfolio, shall reimburse Dimensional for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount. There shall be no obligation of the Fund, on behalf of the Portfolio, to reimburse Dimensional for fees waived or expenses previously assumed by Dimensional more than thirty-six (36) months prior to the date of such reimbursement.

  • Settlement without Consent if Failure to Reimburse If at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section 6(a)(ii) effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.

  • Interest Drawings If on any Distribution Date, after giving effect to the subordination provisions of this Agreement, the Subordination Agent shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class A Certificates or the Class B Certificates (at the Stated Interest Rate for such Class of Certificates) (other than any amount of interest which was due and payable on the Class A Certificates or the Class B Certificates on such Distribution Date but which remains unpaid due to the failure of the Depositary to pay any amount of accrued interest on the Deposits on such Distribution Date), then, prior to 12:30 p.m. (New York City time) on such Distribution Date, (i) the Subordination Agent shall request a drawing (each such drawing, an “Interest Drawing”) under the Liquidity Facility with respect to such Class of Certificates in an amount equal to the lesser of (x) an amount sufficient to pay the amount of such accrued interest (at the applicable Stated Interest Rate for such Class of Certificates) and (y) the Available Amount under such Liquidity Facility, and shall pay such amount to the Trustee with respect to such Class of Certificates in payment of such accrued interest.

  • Tenant’s Reimbursement Except as may be specifically provided to the contrary in this Lease, Tenant shall pay to Landlord, upon delivery by Landlord to Tenant of statements therefor: (i) sums equal to expenditures reasonably made and obligations incurred by Landlord in connection with the remedying by Landlord of Tenant’s defaults pursuant to the provisions of Section 26.1; (ii) sums equal to all losses, costs, liabilities, damages and expenses referred to in Article 10 of this Lease; and (iii) sums equal to all expenditures made and obligations incurred by Landlord in collecting or attempting to collect the Rent or in enforcing or attempting to enforce any rights of Landlord under this Lease or pursuant to law, including, without limitation, all reasonable legal fees and other amounts so expended. Tenant’s obligations under this Section 26.2 shall survive the expiration or sooner termination of the Lease Term.

  • Non-Extension Drawings If the Liquidity Facility is scheduled to expire on a date (the “Stated Expiration Date”) prior to the date that is 15 days after the Final Maturity Date with respect to the ACS Group Loans, then, no earlier than the 60th day and no later than the 30th day prior to the applicable Stated Expiration Date then in effect, the Administrative Agent shall request that the Liquidity Facility Provider extend the Stated Expiration Date until the earlier of (i) the date which is 15 days after the Final Maturity Date with respect to the ACS Group Loans and (ii) the date that is immediately preceding the 364th day occurring after the Stated Expiration Date then in effect (unless the obligations of the Liquidity Facility Provider under the Liquidity Facility are earlier terminated in accordance with the Liquidity Facility). If on or before the date which is 10 days prior to the Stated Expiration Date, (A) the Liquidity Facility shall not have been replaced in accordance with Section 3.10(d) hereof or (B) the Liquidity Facility Provider fails irrevocably and unconditionally to advise the Administrative Agent that such Stated Expiration Date then in effect shall be so extended (whether or not the Administrative Agent has in fact requested an extension), the Administrative Agent shall immediately, in accordance with the terms of the Liquidity Facility (a “Non-Extended Facility”), request a drawing under such Liquidity Facility (such drawing, a “Non-Extension Drawing”) for the Available Amount thereunder. Amounts drawn pursuant to a Non-Extension Drawing shall be deposited into the Liquidity Facility Reserve Account.

  • Final Working Drawings After the Final Space Plan has been approved by Landlord, Tenant shall supply the Engineers with a complete listing of standard and non-standard equipment and specifications, including, without limitation, B.T.U. calculations, electrical requirements and special electrical receptacle requirements for the Premises, to enable the Engineers and the Architect to complete the “Final Working Drawings” (as that term is defined below) in the manner as set forth below. Upon the approval of the Final Space Plan by Landlord and Tenant, Tenant shall promptly cause the Architect and the Engineers to complete the architectural and engineering drawings for the Premises, and Architect shall compile a fully coordinated set of architectural, structural, mechanical, electrical and plumbing working drawings in a form which is complete to allow subcontractors to bid on the work and to obtain all EXHIBIT B applicable permits (collectively, the “Final Working Drawings”) and shall submit the same to Landlord for Landlord’s approval. Tenant shall supply Landlord with four (4) copies signed by Tenant of such Final Working Drawings. Landlord shall advise Tenant within five (5) business days after Landlord’s receipt of all of the Final Working Drawings, either (i) approve the Final Working Drawings, (ii) approve the Final Working Drawings subject to specified conditions, which conditions must be stated in a reasonably clear and complete manner, and shall only be conditions reasonably intended to address a potential Design Problem, or (iii) disapprove and return the Construction Drawings to Tenant with requested revisions; provided, however, Landlord shall only disapprove such Final Working Drawings to the extent of a Design Problem. If Landlord disapproves the Final Working Drawings, Tenant may resubmit the Final Working Drawings to Landlord at any time, and Landlord shall approve or disapprove the resubmitted Final Working Drawings, based upon the criteria set forth in this Section 3.3, within three (3) business days after Landlord receives such resubmitted Final Working Drawings. Such procedure shall be repeated until the Final Working Drawings are approved.

  • Working Drawings Not later than 15 business days following the approval of the TI Design Drawings by Landlord, Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction Drawings”), which TI Construction Drawings shall be prepared substantially in accordance with the TI Design Drawings. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements. Landlord shall deliver its written comments on the TI Construction Drawings to Tenant not later than 10 business days after Landlord’s receipt of the same; provided, however, that Landlord may not disapprove any matter that is consistent with the TI Design Drawings. Tenant and the TI Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Landlord how Tenant proposes to respond to such comments. Any disputes in connection with such comments shall be resolved in accordance with Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the TI Design Drawings, Landlord shall approve the TI Construction Drawings submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 4 below, Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of the TI Permit (as defined in Section 3(a) below).

  • Identification of Workout-Delayed Reimbursement Amounts If any Advance made with respect to any Mortgage Loan on or before the date on which such Mortgage Loan becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected Mortgage Loan, together with (to the extent theretofore accrued and unpaid) Advance Interest thereon, is not pursuant to the operation of the provisions of Section 3.05(a)(I) reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan becomes a Corrected Mortgage Loan (or, but for the making of three monthly payments under its modified terms, would constitute a Mortgage Loan that is a Corrected Mortgage Loan), such Advance, together with such Advance Interest, shall constitute a “Workout-Delayed Reimbursement Amount” to the extent that such amount has not been determined to constitute a Nonrecoverable Advance. All references herein to “Workout-Delayed Reimbursement Amount” shall be construed always to mean the related Advance and (to the extent theretofore accrued and unpaid) any Advance Interest thereon, together with (to the extent it remains unpaid) any further Advance Interest that accrues on the unreimbursed portion of such Advance from time to time in accordance with the other provisions of this Agreement. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine that such amount instead constitutes a Nonrecoverable Advance.

  • Reimbursement of Legal Expenses The Company shall promptly reimburse Executive for all reasonable legal fees incurred by Executive in connection with the preparation, negotiation and execution of this Agreement and ancillary documents.

  • Loss Reimbursement Subadviser shall reimburse the Account for any material error to the Fund's net asset value caused by Subadviser's breach of its standard of care, as set forth in the following sentence that is a direct cause of a delay in the accurate daily pricing of the Fund. In managing the Account, Subadviser shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.

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