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 Agent, not later than 1:00 p.m. Chicago time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing Letter of Credit, an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "Reimbursement Amount"). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Company's reimbursement obligation and liability for expenses relative thereto; provided that the failure of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless the Company shall have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Lenders, the Adjusted Corporate Base Rate Loans comprising such Adjusted Corporate Base Rate Borrowing, and each Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Agentrespective L/C Issuer, not later than 1:00 p.m. Chicago Detroit time on the date on which the Agent such L/C Issuer shall honor a draft or other demand for payment presented or made under any Letter of Credit, or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing such Letter of Credit, an amount equal to the amount paid by the Agent such L/C Issuer in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One such L/C Issuer relative thereto (the "Reimbursement Amount"). The Agent L/C Issuer which issued the relevant Letter of Credit shall, on the date of each demand for payment under any Letter of Credit issued by the Agentsuch L/C Issuer, give the Company notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Company's reimbursement obligation and liability for expenses relative thereto; provided that the failure of the Agent or Bank One such L/C Issuer to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless the Company shall have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, such L/C Issuer on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Creditsuch L/C Issuer, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Prime Rate Borrowing in an amount equal to the amount so paid by the Agent such L/C Issuer in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent such L/C Issuer shall be deemed to have disbursed to the Company, for the account of the Revolving Credit Lenders, the Adjusted Corporate Base Prime Rate Loans comprising such Adjusted Corporate Base Prime Rate Borrowing, and each Revolving Credit Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Prime Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, such L/C Issuer in accordance with this Agreement. Such Adjusted Corporate Base Prime Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Prime Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Agent, not later than 1:00 p.m. Chicago Detroit time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing such Letter of Credit, an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "Reimbursement Amount"). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Company's reimbursement obligation and liability for expenses relative thereto; provided that the failure of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless the Company shall have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, Agent on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Prime Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Credit Lenders, the Adjusted Corporate Base Prime Rate Loans comprising such Adjusted Corporate Base Prime Rate Borrowing, and each Revolving Credit Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Prime Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Prime Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Prime Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company Each Borrower agrees to pay to the Agent, not later than 1:00 p.m. Chicago local time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any a Letter of Credit, Credit issued for the account of such Borrower (or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing Letter Business Day after receipt by such Borrower from the Agent of Creditthe notice referred to in the next sentence, if later), an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "Reimbursement Amount"). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company such Borrower notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Companysuch Borrower's reimbursement obligation and liability for expenses relative thereto; provided that . In the failure case of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless Company, if the Company shall not have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, Agent on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base a Floating Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Credit Lenders, the Adjusted Corporate Base Floating Rate Loans comprising such Adjusted Corporate Base Floating Rate Borrowing, and each Revolving Credit Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Floating Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Floating Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Floating Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company Each Borrower agrees to pay to the Agent, not later than 1:00 p.m. Chicago local time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any a Letter of Credit, Credit issued for the account of such Borrower (or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing Letter Business Day after receipt by such Borrower from the Agent of Creditthe notice referred to in the next sentence, if later), an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "Reimbursement Amount"). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company such Borrower notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Companysuch Borrower's reimbursement obligation and liability for expenses relative thereto; provided that . In the failure case of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless Company, if the Company shall not have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, Agent on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Floating Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Lenders, the Adjusted Corporate Base Floating Rate Loans comprising such Adjusted Corporate Base Floating Rate Borrowing, and each Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Floating Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Floating Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Floating Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Agent, not later than 1:00 p.m. Chicago time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing such Letter of Credit, an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "Reimbursement Amount"). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Company's reimbursement obligation and liability for expenses relative thereto; provided that the failure of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless the Company shall have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, Agent on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Lenders, the Adjusted Corporate Base Rate Loans comprising such Adjusted Corporate Base Rate Borrowing, and each Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.

Letter of Credit Reimbursement Payments. (a) (i) The Company agrees to pay to the Agent, not later than 1:00 p.m. Chicago time on the date on which the Agent shall honor a draft or other demand for payment presented or made under any Letter of Credit, or shall pay to Bank One not later than 1:00 p.m. Chicago time on the date on which Bank One shall honor a draft or other demand for payment presented or made under any Existing Letter of Credit, an amount equal to the amount paid by the Agent in respect of such draft or other demand under any such Letter of Credit or by Bank One in respect of such draft or other demand under any such Existing Letter of Credit, and all reasonable expenses paid or incurred by the Agent or Bank One relative thereto (the "“Reimbursement Amount"”). The Agent shall, on the date of each demand for payment under any Letter of Credit issued by the Agent, give the Company notice thereof and Bank One shall, on the date of each demand for payment under any Existing Letter of Credit, give the Agent and the Company notice thereof and, in each case, of the amount of the Company's ’s reimbursement obligation and liability for expenses relative thereto; provided that the failure of the Agent or Bank One to give any such notice shall not affect the reimbursement and other obligations of the Company under this Section 3.3. Unless the Company shall have made such payment to the Agent, or to Bank One with respect to any Existing Letter of Credit, on such day, upon each such payment by the Agent, or by Bank One with respect to any Existing Letter of Credit, the Company shall be deemed to have elected to satisfy its reimbursement obligation by an Adjusted Corporate Base Rate Borrowing in an amount equal to the amount so paid by the Agent in respect of such draft or other demand under such Letter of Credit, or by Bank One in respect of any Existing Letter of Credit, and the Agent shall be deemed to have disbursed to the Company, for the account of the Revolving Lenders, the Adjusted Corporate Base Rate Loans comprising such Adjusted Corporate Base Rate Borrowing, and each Lender holding a Revolving Commitment shall make its share of each such Adjusted Corporate Base Rate Borrowing available to the Agent for its own account or, to the extent of any payment made by Bank One with respect to any Existing Letters of Credit, for the account of Bank One, in accordance with this Agreement. Such Adjusted Corporate Base Rate Loans shall be deemed disbursed notwithstanding any failure to satisfy any conditions for disbursement of any Revolving Credit Loan and, to the extent of the Adjusted Corporate Base Rate Loans so disbursed, the reimbursement obligation of the Company with respect to such Letter of Credit or Existing Letter of Credit under this subsection (a)(i) shall be deemed satisfied.