Payment of Drafts. At such time as a Letter of Credit Issuer makes any payment on a draft presented or accepted under a Letter of Credit, the Borrower will on demand pay to such Letter of Credit Issuer in immediately available funds the amount of such payment. Unless the Borrower shall otherwise pay to the Letter of Credit Issuer the amount required by the foregoing sentence, such amount shall be considered a loan under Section 2.1.1 to the Borrower and part of the Revolving Loan.
Appears in 3 contracts
Samples: Credit Agreement (Ameripath Inc), Credit Agreement (Ameripath Inc), Credit Agreement (Ameripath Inc)
Payment of Drafts. At such time as a Letter of Credit Issuer makes any payment on a draft presented or accepted under a Letter of Credit, the Borrower will on demand pay to such Letter of Credit Issuer in immediately available funds the amount of such payment. Unless the Borrower shall otherwise pay to the Letter of Credit Issuer the amount required by the foregoing sentence, such amount shall be considered a loan under Section 2.1.1 to the Borrower 2.2.1 and part of the Revolving Working Capital Loan.
Appears in 3 contracts
Samples: Credit Agreement (Energy Transfer Partners Lp), Credit Agreement (Heritage Propane Partners L P), Credit Agreement (Heritage Propane Partners L P)
