Common use of Payments; Reimbursement Obligations Clause in Contracts

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Agent and the Servicing Agent shall promptly notify the Borrower and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse such Issuing Bank for any amounts paid by such Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due from the Borrower on the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. (New York time) on any date, on the next succeeding Business Day); provided that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on Company any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation Reimbursement Obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation Reimbursement Obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “"Payment Date”"). The Borrower shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower and each other Bank Lender as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Agent and the Servicing Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on Company any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower Subject to subsection (d)(vi) below, the Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due from the Borrower Company on the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. (New York time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i) or clause (ii) on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Agent and the Servicing Agent shall promptly notify the Borrower and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due from the Borrower on the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. (New York time) on any date, on the next succeeding Business Day); provided that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on Company any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. 10:00 a.m. (New York City time) on any date, on the next succeeding Business Day); provided and provided, further that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i‎(i) or clause (ii‎(ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation Reimbursement Obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation Reimbursement Obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank Lender shall notify the Servicing Agent and the Servicing Agent shall promptly notify the Borrower Company and each other Bank Lender as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the applicable Issuing Bank Lender (the “Payment Date”). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the applicable Issuing Bank Lender for any amounts paid by such Issuing Bank Lender upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due from on the Borrower on Domestic Business Day following the date of receipt by it the Company of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. it prior to 10:00 a.m. (New York City time) on any such date, or on the next succeeding second Domestic Business Day)Day following such date if such notice is received after 10:00 a.m. (New York City time) on such date; and provided that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower and each other Bank Lender as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower after 1:00 P.M. 9:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); provided further that if and to the extent any such reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Agent and the Servicing Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower on Company any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i‎(i) or clause (ii‎(ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.

Payments; Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the applicable Issuing Bank shall notify the Servicing Administrative Agent and the Servicing Administrative Agent shall promptly notify the Borrower Company and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by such the Issuing Bank (the “Payment Date”"PAYMENT DATE"). The Borrower Company shall be irrevocably and unconditionally obligated to reimburse such the Issuing Bank for any amounts paid by such the Issuing Bank upon any drawing under any Letter of Credit, without presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; PROVIDED that no such payment shall be due from the Borrower on Company any earlier than the date of receipt by it of notice from the applicable Issuing Bank of its obligation to make such payment (or, if such notice is received by the Borrower Company after 1:00 P.M. 10:00 A.M. (New York City time) on any date, on the next succeeding Business Day); provided and PROVIDED FURTHER that if and to the extent any such reimbursement is not made by the Borrower Company in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the BorrowerCompany), such reimbursement obligation Reimbursement Obligation shall bear interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation Reimbursement Obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day.