Common use of Letter of Credit Reimbursement Payments Clause in Contracts

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Bank, on the day on which the Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Bank relative thereto. Unless the Company shall have made such payment to the Bank on such day, upon each such payment by the Bank, the Bank shall be deemed to have disbursed to the Company, and the Company shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate in an amount equal to the amount so paid by the Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company under this Section 3.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (i) The Company Each Borrower agrees to pay to the BankAgent for the benefit of the Banks, on the day on which the Issuing Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Issuing Bank relative thereto. Unless the Company a Borrower shall have made such payment to the Bank Agent on such day, upon each such payment by the Issuing Bank, subject to Section 3.3(a)(ii), the Issuing Bank shall be deemed to have disbursed to the Companysuch Borrower, and the Company such Borrower shall be deemed to have elected to satisfy its reimbursement obligation by, by requesting a Revolving Credit Loan bearing interest at the Floating Rate for the account of the Banks in an amount equal to the amount so paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall Loans shall, subject to Section 3.3(a)(ii), be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company Borrower under this Section 3.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (aa)(i) (i) The Company Each Borrower agrees to pay to the BankBanks, on the day on which the Issuing Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Issuing Bank relative thereto. Unless the Company a Borrower shall have made such payment to the Bank Agent on such day, upon each such payment by the Issuing Bank, subject to Section 3.3(a)(ii), the Issuing Bank shall be deemed to have disbursed to the Companysuch Borrower, and the Company such Borrower shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate for the account of the Banks in an amount equal to the amount so paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall shall, subject to Section 3.3(a)(ii), be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company Borrower under this Section 3.3 shall be deemed satisfied; provided, . however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Bank, NBD on the day on which the Bank shall honor NBD honors a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Bank NBD in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Bank relative NBD relating thereto. Unless the Company shall have made such payment to the Bank has been made on such day, upon each such payment by the Bankpayment, the Bank NBD shall be deemed to have disbursed to the Company, and the Company shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit New Facility Loan made on such day bearing interest at the Floating Rate applicable rate in an amount equal to the amount so paid by under the Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit The New Facility Loan shall be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any New Facility Loan set forth in Article II hereof III and, to the extent of the Revolving Credit New Facility Loan so disbursed, the Company's reimbursement obligation of the Company under this Section 3.3 shall be deemed satisfied; provided, howeverPROVIDED, HOWEVER, that nothing disbursing a New Facility Loan in this Section 3.3 spite of the failure to satisfy any conditions for disbursement shall be deemed to not constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwiseDefault.

Letter of Credit Reimbursement Payments. (a) (i) The Company Each Borrower agrees to pay to the BankBanks, on the day on which the Issuing Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Issuing Bank relative thereto. Unless the Company a Borrower shall have made such payment to the Bank Agent on such day, upon each such payment by the Issuing Bank, subject to Section 3.3(a)(ii), the Issuing Bank shall be deemed to have disbursed to the Companysuch Borrower, and the Company such Borrower shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate for the account of the Banks in an amount equal to the amount so paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall shall, subject to Section 3.3(a)(ii), be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company Borrower under this Section 3.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Bank, on the day on which the Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Bank relative thereto. Unless the Company shall have made such payment to the Bank on such day, upon each such payment by the Bank, the Bank shall be deemed to have disbursed to the Company, and the Company shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Alternate Base Rate for the account of the Bank in an amount equal to the amount so paid by the Bank in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II Section 3 hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company under this Section 3.3 4.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 4.3 shall be -------- ------- deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (i) The Company Borrower agrees to pay to the BankLenders, on the day on which the Bank Administrative Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Bank Administrative Agent in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Bank Administrative Agent relative thereto. Unless the Company Borrower shall have made such payment to the Bank Lenders on such day, upon each such payment by the BankAdministrative Agent, the Bank -30- 108 Administrative Agent shall be deemed to have disbursed to the CompanyBorrower, and the Company Borrower shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate for the account of the Lenders in an amount equal to the amount so paid by the Bank Administrative Agent in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company Borrower under this Section 3.3 shall be deemed satisfied; providedPROVIDED, howeverHOWEVER, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the of any conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (ia)(i) The Company agrees to pay to the Administrative Agent (for the account of the Issuing Bank, ) on the day on which the Issuing Bank shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit and all expenses paid or incurred by the Issuing Bank relative related thereto. Unless the Company shall have made such payment to the Issuing Bank on such day, upon each such payment by the Issuing Bank, the Bank Banks shall be deemed to have disbursed to the Company, and the Company shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate in an amount equal to the amount so paid by the Issuing Bank in respect of such draft or other demand under such Letter of Credit. Such The amount of such Revolving Credit Loan shall be disbursed notwithstanding any failure made available by the Banks to satisfy any conditions the Administrative Agent (for disbursement the benefit of any Loan set forth the Issuing Bank) in Article II hereof accordance with Section 2.4(b). The participation of each Bank in the relevant Letter of Credit shall be deemed to be reduced by the amount made available by such Bank and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company under this Section 3.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.

Letter of Credit Reimbursement Payments. (a) (ia)(i) The Company agrees to pay to the BankAdministrative Agent on behalf of the Banks, on the day on which the Bank Administrative Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, an amount equal to the amount paid by the Bank Administrative Agent in respect of such draft or other demand under such Letter of Credit and all reasonable expenses paid or incurred by the Bank Administrative Agent relative thereto. Unless the Company shall have made such payment to the Bank Banks on such day, or unless the Company shall have requested conversion of any such Loan pursuant to the provisions of Section 2.4 or Section 2.7, upon each such payment by the BankAdministrative Agent, the Bank Administrative Agent shall be deemed to have disbursed to the Company, and the Company shall be deemed to have elected to satisfy its reimbursement obligation by, a Revolving Credit Loan bearing interest at the Floating Rate for the account of the Banks in an amount equal to the amount so paid by the Bank Administrative Agent in respect of such draft or other demand under such Letter of Credit. Such Revolving Credit Loan shall be disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Loan set forth in Article II hereof and, to the extent of the Revolving Credit Loan so disbursed, the reimbursement obligation of the Company under this Section 3.3 shall be deemed satisfied; provided, however, that nothing in this Section 3.3 shall be deemed to constitute a waiver of any Default or Event of Default caused by the failure to the conditions for disbursement or otherwise.