Method of Reimbursement. The Borrower shall reimburse the Fronting Bank for each Drawing under any Letter of Credit pursuant to subsection (g) above in the following manner: (i) the Borrower shall immediately reimburse the Fronting Bank in the manner described in Section 4.01; or (ii) if (A) the Borrower has not reimbursed the Fronting Bank pursuant to clause (i) above, (B) the applicable conditions to the making of a Contract Advance set forth in Articles II, III and V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, the Borrower may reimburse the Fronting Bank for such Drawing with the proceeds of a Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Contract Borrowing requesting a Eurodollar Rate Advance has been given in accordance with Section 3.01 three Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.
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Samples: Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System), Credit Agreement (Northeast Utilities System)
Method of Reimbursement. The Borrower shall reimburse the Fronting Bank for each Drawing under any Letter of Credit pursuant to subsection (g) above in the following manner:
(i) the Borrower shall immediately reimburse the Fronting Bank in the manner described in Section 4.012.14; or
(ii) if (A) the Borrower has not reimbursed the Fronting Bank pursuant to clause (i) above, (B) the applicable conditions to the making of a Contract Advance Borrowing set forth in Articles II, II and III and V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, the Borrower may reimburse the Fronting Bank for such Drawing with the proceeds of a an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Contract Borrowing requesting a Eurodollar Rate Advance has been given in accordance with Section 3.01 2.02 three Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.
Appears in 2 contracts
Samples: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Jersey Central Power & Light Co)
Method of Reimbursement. The Borrower shall reimburse the Fronting Bank for each Drawing under any Letter of Credit pursuant to subsection (gf) above in the following manner:
(i) the Borrower shall immediately reimburse the Fronting Bank in the manner described in Section 4.01; or
(ii) if (A) the Borrower has not reimbursed the Fronting Bank pursuant to clause (i) above, (B) the applicable conditions to the making of a Contract an Advance set forth in Articles II, III and V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, the Borrower may reimburse the Fronting Bank for such Drawing with the proceeds of a Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Contract Borrowing requesting a Eurodollar Rate Advance has been given in accordance with Section 3.01 three Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.
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Method of Reimbursement. The Borrower shall reimburse the Fronting Bank for each Drawing under any Letter of Credit pursuant to subsection (gf) above in the following manner:
(i) the Borrower shall immediately reimburse the Fronting Bank in the manner described in Section 4.01; or
(ii) if (A) the Borrower has not reimbursed the Fronting Bank pursuant to clause (i) above, (B) the applicable conditions to the making of a Contract an Advance set forth in Articles II, III and V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, the Borrower may reimburse the Fronting Bank for such Drawing with the proceeds of a Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) above have been satisfied and a Notice of Contract Borrowing requesting a Eurodollar Rate Advance has been given in accordance with Section 3.01 three Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.
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Samples: Credit Agreement (Western Massachusetts Electric Co)
Method of Reimbursement. The Borrower shall reimburse the Fronting Bank for each Drawing under any Letter of Credit pursuant to subsection (gf) above in the following manner:
(i) the Borrower shall immediately reimburse the Fronting Bank in the manner described in Section 4.01; or
(ii) if (A) the Borrower has not reimbursed the Fronting Bank pursuant to clause (i) above, (B) the applicable conditions to the making of a Contract Advance set forth in Articles II, III and V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, the Borrower may reimburse the Fronting Bank for such Drawing with the proceeds of a Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Contract Borrowing requesting a Eurodollar Rate Advance has been given in accordance with Section 3.01 three Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.
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