Funding of Participations. Upon any drawing under any Letter of Credit, the applicable L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than 12:00 noon, New York time, on the date of any payment by such L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such 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 Share thereof. In such event, the Borrower shall be deemed to have requested a Revolving 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 combined Revolving Loan Commitments. Any notice given by an 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.
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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 Issuing Lender shall notify the Borrower and the Administrative Agent thereof. Not later than 12:00 noon, New York time, 11:00 a.m. on the date of any payment by such L/C Issuer the Issuing Lender under a Letter of Credit (each such date, an "“HONOR DATE"”), the Borrower shall reimburse such L/C Issuer the Issuing Lender through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such L/C Issuer the Issuing Lender 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 the amount of such Lender's Pro Rata Share thereof’s pro rata share thereof (based on the respective Revolving Commitment Percentage of such Lender). In such event, the Borrower shall be deemed to have requested a Revolving Borrowing Loan advance comprised 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 Section 2.1 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the combined Revolving Loan CommitmentsCommitted Amount and the conditions set forth in Section 5.2 (other than the delivery of a Notice of Borrowing). Any notice given by an L/C Issuer the Issuing Lender or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.2(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.
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Funding of Participations. Upon any drawing under any Letter of Credit, the applicable L/C Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than 12:00 noon11:00 a.m., New York time, on the date of any payment by such the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), the Borrower shall reimburse such the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such 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 Share thereof. In such event, the Borrower shall be deemed to have requested a Revolving 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 2.03 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the combined Revolving Aggregate Commitments and the conditions set forth in SECTION 4.03 (other than the delivery of a Loan CommitmentsNotice). Any notice given by an 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.
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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 and the Administrative Agent thereof. Not later than 12:00 noon, New York time, 11:00 a.m. on the date of any payment by such L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"“Honor Date”), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower Xxxxxxxx fails to so reimburse such 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 Lender's Pro Rata Share ’s Applicable Percentage thereof. In such event, the Borrower shall be deemed to have requested a Revolving 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 combined Revolving Loan CommitmentsCommitments and the conditions set forth in Section 5.2 (other than the delivery of a Borrowing Request). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.2(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.
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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 and the Administrative Agent thereof. Not later than 12:00 noon, New York time, 11:00 a.m. on the date of any payment by such the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"“Honor Date”), the Borrower shall reimburse such the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such 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 Lender's Pro Rata Share ’s Applicable Percentage thereof. In such event, the Borrower shall be deemed to have requested a Revolving 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 combined Revolving Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan CommitmentsNotice). Any notice given by an 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.
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Samples: Credit Agreement
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 and the Administrative Agent thereof. Not later than 12:00 noon, New York time, 11:00 a.m. on the date of any payment by such the L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"), the Borrower shall reimburse such the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such the L/C Issuer by such time, Borrower shall be deemed to have incurred from the Administrative Agent shall promptly notify each Revolving Lender of the Honor Date, L/C Issuer an L/C Borrowing in the amount of the unreimbursed drawing (the "UNREIMBURSED AMOUNT"), and such Lender's Pro Rata Share thereof. In such event, the Borrower ) which L/C Borrowing shall be deemed to have requested a Revolving Borrowing due and payable on demand (together with interest) and shall bear interest at the Default Rate. Agent shall promptly notify each Lender of Base Rate Loans to be disbursed on the Honor Date in an amount equal to Date, 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 combined Revolving Loan Commitmentssuch Lender's Applicable Percentage thereof. Any notice given by an the L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(i2.01(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.
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Samples: Letter of Credit and Reimbursement Agreement (Maine & Maritimes Corp)
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 applicable L/C Issuer shall notify the Borrower and the Administrative Agent thereof. The applicable L/C Issuer shall notify the Borrower of the amount of the drawing promptly following the determination thereof, and in any event no later than 9:00 a.m. on the Honor Date (as hereafter defined). Not later than 12:00 noon, New York time, 11:00 a.m. on the date of any payment by such the applicable L/C Issuer under a Letter of Credit (each such date, an "HONOR DATE"“Honor Date”), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such the applicable L/C Issuer by such time, such L/C Issuer shall promptly notify the Administrative Agent, whereupon 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 ’s Pro Rata Share thereof. In such event, the Borrower shall be deemed to have requested a Revolving 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 combined Aggregate Revolving Loan CommitmentsCommitted Amount or the conditions set forth in Section 5.02. Any notice given by an 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.
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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 applicable L/C Issuer Agent shall notify the Borrower and the Administrative Agent Lenders thereof. Not later than 12:00 noon11:00 a.m., New York time, on the date of any payment by such L/C Issuer Agent under a Letter of Credit (each such date, an "HONOR DATEHonor Date"), the Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse such L/C Issuer Agent by such time, the Administrative Agent shall promptly notify each Revolving 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, the Borrower shall be deemed to have requested a Revolving 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 combined Revolving Aggregate Commitments and the conditions set forth in Section 4.2 (other than the delivery of a Committed Loan CommitmentsNotice). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this SECTION 2.04(c)(iSection 2.3(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.
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