Payments Pursuant to Letters of Credit and Letters of Guarantee. The Borrower shall forthwith reimburse CIBC for any payment made by it pursuant to a letter of credit or letter of guarantee issued under the Facility either by: (a) payment thereof in full; or (b) utilization of another Availment; or (c) a combination of payment and utilization of another Availment.
Appears in 3 contracts
Samples: Financing Commitment (Carbon Energy Corp), Financing Commitment (Carbon Energy Corp), Financing Commitment (Evergreen Resources Inc)
Payments Pursuant to Letters of Credit and Letters of Guarantee. The Borrower shall forthwith reimburse CIBC for any payment made by it pursuant to a letter of credit or letter of guarantee issued under the Facility either by:
(ai) payment thereof in full; or
(bii) utilization of another Availment; or
(ciii) a combination of payment and utilization of another Availment.
Appears in 1 contract
