Common use of Funding of Participations Clause in Contracts

Funding of Participations. Upon any drawing under any Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), such requesting Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and such Lender's Pro Rata Share thereof. In such event, such Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Commitments and the conditions set forth in SECTION 4.02 (other than the delivery of a Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon any drawing under any Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit Borrowers and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), such requesting Borrower the Borrowers shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such Borrower fails the Borrowers fail to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and such Lender's Pro Rata Revolving Proportionate Share thereof. In such event, such Borrower the Borrowers shall be deemed to have requested a Revolving Loan Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 2.01 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Commitments Total Revolving Loan Commitment and the conditions set forth in SECTION 4.02 3.02 (other than the delivery of a Revolving Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i2.03(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED PROVIDED, that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon any drawing under any Letter of Credit, the L/C Issuer shall notify the Borrower that requested and the issuance Administrative Agent of the amount to be paid by the L/C Issuer as a result of such drawing and the date on which payment is to be made by the L/C Issuer to the beneficiary of such Letter of Credit and in respect of such drawing; provided, however, that in the Administrative Agent thereofcase of Commercial Letters of Credit, subsequent notification by routine methods shall be deemed sufficient notice. Not later than 11:00 a.m., New York time, on the date of any payment by the L/C Issuer under a Letter of Credit (each such datedate of payment, an "HONOR DATE"“Honor Date”), such requesting the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing, which may be effected through the debiting of one or more deposit accounts maintained with the Administrative Agent. If such the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"“Unreimbursed Amount”), and the amount of such Revolving Lender's Pro Rata Share thereof’s L/C Risk Participation with respect thereto. In such event, such the Borrower shall be deemed to have requested a Revolving Loan Borrowing of Base Rate Loans to be disbursed on the Business Day following the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 Section 2.01 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Commitments Total Revolving Loan Commitment and the conditions set forth in SECTION 4.02 Section 3.02 (other than the delivery of a Notice of Loan NoticeBorrowing for Revolving Loans). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.02(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED provided, that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon any drawing under any Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), such requesting the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and such Lender's Pro Rata Share thereof. In such event, such the Borrower shall be deemed to have requested a Borrowing under the Revolver Facility of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 2.03 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Commitments Aggregate Revolving Commitment and the conditions set forth in SECTION 4.02 4.03 (other than the delivery of a Loan Borrowing Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i2.14(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under any such Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), such requesting the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and the amount of such Lender's Pro Rata Share Working Capital Loan Commitment Percentage thereof. In such event, such the Borrower shall be deemed to have requested a Working Capital Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Working Capital Commitments and the conditions set forth in SECTION 4.02 SECTIONS 5.02 and 5.03 (other than the delivery of a Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i2.05(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under any such Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATEHonor Date"), such requesting the Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNTUnreimbursed Amount"), and the amount of such Lender's Pro Rata Share Applicable Percentage thereof. In such event, such the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in SECTION Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION Section 2.04(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under any such Letter of Credit, the applicable L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, a.m. on the date of any payment by the applicable L/C Issuer under a Letter of Credit (each such date, an "HONOR DATEHonor Date"), such requesting the Borrower shall reimburse the applicable L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such the Borrower fails to so reimburse the applicable L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNTUnreimbursed Amount"), and the amount of such Lender's Pro Rata Share thereof. In such event, such the Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in SECTION Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the applicable L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.03(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under any such Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), such requesting Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and the amount of such Lender's Pro Rata Share Applicable Percentage thereof. In such event, such Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in SECTION 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i2.03(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.

Funding of Participations. Upon receipt from the beneficiary of any Letter of Credit of any notice of drawing under any such Letter of Credit, the L/C Issuer shall notify the Borrower that requested the issuance of such Letter of Credit and the Administrative Agent thereof. Not later than 11:00 a.m., New York time, on the date of any payment by the L/C Issuer under a Letter of Credit (or if the notice of drawing on such Letter of Credit is given after 11:00 a.m., then not later than 11:00 a.m. on the next succeeding Business Day after the date of any payment by such L/C Issuer under a Letter of Credit) (each such date, an "HONOR DATEHonor Date"), such requesting Borrower shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If such Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNTUnreimbursed Amount"), and the amount of such Lender's Pro Rata Share thereof. In such event, such Borrower shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in SECTION Section 2.02 for the principal amount of Base Rate Committed Loans, but subject to the amount of the unutilized portion of the Aggregate Commitments and the conditions set forth in SECTION Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.03(c)(i) may be given by telephone if immediately confirmed in writing; PROVIDED provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.