Common use of Payment of Amounts Drawn Under Letters of Credit Clause in Contracts

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Bank shall notify the Agent, which shall notify the Borrower of such draw, not later than 11:00 A.M. Boston time on the Business Day immediately prior to the date on which the Issuing Bank intends to honor such drawing. The Borrower will be deemed to have concurrently given a Notice of Borrowing to the Agent for Revolving Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 hereof and the other terms and conditions of Borrowings contained herein, the Revolving Lenders shall be obligated to, on the date of such drawing, make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Agent to reimburse the Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower shall be obligated to and shall reimburse the Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 hereof.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Bank shall notify the Agent, which shall notify the Borrower of such draw, not later than 11:00 A.M. Boston New York City time on the Business Day immediately prior to the date on which the Issuing Bank intends to honor such drawing. The Borrower will be deemed to have concurrently given a Notice of Borrowing to the Agent for Revolving Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 5 hereof and the other terms and conditions of Borrowings contained herein, the Revolving Lenders shall be obligated to, on the date of such drawing, make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Agent to reimburse the Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower shall be obligated to and shall reimburse the Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 4.1 hereof.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Issuing Bank shall notify the Agent, which shall notify the Borrower of such draw, not later than 11:00 A.M. Boston time on the Business Day immediately prior to the date on which the Issuing Bank intends to honor such drawing. The Borrower will be deemed to have concurrently given a Notice of Borrowing to the Agent for Revolving Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 5 hereof and the other terms and conditions of Borrowings contained herein, the Revolving Lenders shall be obligated to, on the date of such drawing, make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Agent to reimburse the Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower shall be obligated to and shall reimburse the Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 4.1 hereof.

Payment of Amounts Drawn Under Letters of Credit. In the event ------------------------------------------------ of any drawing under any Letter of Credit by the beneficiary thereof, the applicable Issuing Bank shall notify the Administrative Agent, which shall notify the Borrower Company of such draw, not later than 11:00 A.M. Boston time A.M., New York City time, on the Business Day immediately prior to the date day on which the Issuing Bank intends to honor such drawing. The Borrower Unless the Company shall, at the time of such drawing, have posted funds with such Issuing Bank sufficient to reimburse such drawing in full in Cash, the Company will be deemed to have concurrently given a Notice of Borrowing to the Administrative Agent for Revolving Prime Rate Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 hereof 5 and the other terms of and conditions of Borrowings to Borrowing contained herein, the Revolving Lenders Banks shall be obligated toobligated, on the date of such drawing, to make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Agent to reimburse the applicable Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the such Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower Company shall be obligated to and shall reimburse the such Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 hereof4.01 of this Agreement.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the applicable Issuing Bank shall notify the Administrative Agent, which shall notify the Borrower Company of such draw, not later than 11:00 A.M. Boston time A.M., New York City time, on the Business Day immediately prior to the date day on which the Issuing Bank intends to honor such drawing. The Borrower Unless the Company shall, at the time of such drawing, have posted funds with such Issuing Bank sufficient to reimburse such drawing in full in Cash, the Company will be deemed to have concurrently given a Notice of Borrowing to the Administrative Agent for Revolving Prime Rate Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 hereof 5 and the other terms of and conditions of Borrowings to Borrowing contained herein, the Revolving Lenders Banks shall be obligated toobligated, on the date of such drawing, to make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Agent to reimburse the applicable Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the such Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower Company shall be obligated to and shall reimburse the such Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 hereof4.01 of this Agreement.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the applicable Issuing Bank shall notify the Administrative Agent, which shall notify the Borrower Company of such draw, not later than 11:00 A.M. Boston time a.m. (New York City time), on the Business Day immediately prior to the date day on which the Issuing Bank intends to honor such drawing. The Borrower Unless the Company shall, at the time of such drawing, have posted funds with such Issuing Bank sufficient to reimburse such drawing in full in Cash, the Company will be deemed to have concurrently given a Notice of Borrowing to the Administrative Agent for Revolving Prime Rate Loans in the amount of and at the time of such drawing. Subject to satisfaction or waiver of the applicable conditions specified in Article 6 hereof 5 and the other terms of and conditions of Borrowings to Borrowing contained herein, the Revolving Lenders Tranche 2 Banks shall be obligated toobligated, on the date of such drawingdrawing is honored, to make Revolving Loans in the amount of such drawing, the proceeds of which shall be applied directly by the Administrative Agent to reimburse the applicable Issuing Bank for the amount of such drawing or payment. If for any reason, proceeds of such Revolving Loans are not received by the such Issuing Bank on such date in an amount equal to the amount of such drawing, the Borrower Company shall be obligated to and shall reimburse the such Issuing Bank, on the Business Day (under the laws of the jurisdiction of the Issuing Bank) immediately following the date of such drawing, in an amount in immediately available funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 5.1 hereof4.01 of this Agreement.