Common use of Funding of Drawings Clause in Contracts

Funding of Drawings. Upon receipt from the beneficiary of any ------------------- Letter of Credit of any demand for payment or other drawing under such Letter of Credit, the Fronting Bank shall promptly so notify Administrative Agent and Administrative Agent shall promptly so notify Borrower and each Lender that holds a Revolving Commitment as to the amount to be paid as a result of such demand or drawing and the respective payment date. Not later than 2:00 p.m. on the applicable payment date if Borrower has not reimbursed the Fronting Bank for the amount paid as a result of such demand or drawing, each Lender will make available to Administrative Agent, at the Principal Office, in immediately available funds, an amount equal to such Lender's Commitment Percentage (calculated based only on the Revolving Commitments) of the amount to be paid as a result of such demand or drawing which has not been reimbursed even if the conditions to a Loan under Article 8 hereof have not been satisfied and Administrative Agent shall --------- promptly pay such amounts to the Fronting Bank.

Funding of Drawings. Upon receipt from the beneficiary of any ------------------- Letter of Credit of any demand for payment or other drawing under such Letter of Credit, the Fronting Bank shall promptly so notify the Administrative Agent and the Administrative Agent shall promptly so notify the Borrower and each Lender that holds a Revolving Commitment as to the amount to be paid as a result of such demand or drawing and the respective payment date. Not later than 2:00 p.m. on the applicable payment date if the Borrower has not reimbursed the Fronting Bank for the amount paid as a result of such demand or drawing, each Lender will make available to the Administrative Agent, at the Principal Office, in immediately available funds, an amount equal to such Lender's Commitment Percentage (calculated based only on the Revolving Commitments) of the amount to be paid as a result of such demand or drawing which has not been reimbursed even if the conditions to a Loan under Article 8 hereof --------- have not been satisfied and the Administrative Agent shall --------- promptly pay such amounts to the Fronting Bank.

Funding of Drawings. Upon receipt from the beneficiary of any ------------------- Letter of Credit of any demand for payment or other drawing under such Letter of Credit, the Fronting Bank shall promptly so notify the Administrative Agent and the Administrative Agent shall promptly so notify the Borrower and each Lender that holds a Revolving Commitment as to the amount to be paid as a result of such demand or drawing and the respective payment date. Not later than 2:00 p.m. on the applicable payment date if the Borrower has not reimbursed the Fronting Bank for the amount paid as a result of such demand or drawing, each Lender will make available to the Administrative Agent, at the Principal Office, in immediately available funds, an amount equal to such Lender's Commitment Percentage (calculated based only on the Revolving CommitmentsCommitments only) of the amount to be paid as a result of such demand or drawing which has not been reimbursed even if the conditions to a Loan under Article 8 7 hereof have not been satisfied and the Administrative Agent shall --------- promptly pay such amounts to the Fronting Bank.