Reimbursement and Other Payments Sample Clauses
Reimbursement and Other Payments. (a) The Borrowers, jointly and severally, hereby agree to pay to the Agent, for the ratable accounts of the Lenders, on the date on which the Agent shall be required to pay any draft presented under any Letter of Credit, a sum (the "Reimbursement Amount") equal to: (i) the amount so paid under such Letter of Credit, plus (ii) interest on any amount remaining unpaid by the Borrowers to the Lenders under clause (i) from and including the date on which such amount becomes payable pursuant to clause (i) until payment in full, payable on demand, at a per annum rate of interest equal to the rate applicable to Revolving Credit Advances. If the Borrowers shall fail to pay to the Agent the Reimbursement Amount on the date on which the Agent shall be required to pay any draft presented under any Letter of Credit, the Agent shall, to the extent the Borrowers have availability to request a Revolving Credit Advance, consider such failure to be a request for a Revolving Credit Advance in the amount of the Reimbursement Amount. In the event any such Loan is made pursuant to this Section 1.17.4(a), the Agent shall notify each Lender of such Lender's Revolving Loan Commitment of such Loan, and such Lender shall make available promptly to the Agent the corresponding amount of such Loan, all in accordance with Section 1.1(a) hereof. The Borrowers, jointly and severally, agree that the Agent may make any such Loan, and each Lender agrees to deliver such Lender's Revolving Loan Commitment of such Loan, even if the making of such Loan causes the outstanding balance of all Loans to exceed the limits set forth in Section 1.1(a) hereof, and the Borrowers further agree that the making of such Loan by the Agent in excess of the limits set forth in Section 1.1(a) hereof shall constitute an automatic Default hereunder, entitling the Agent and the Lenders to exercise all rights and remedies available to them under the Lender Documents and applicable law.
(b) The Borrowers shall, jointly and severally, quarterly in arrears on the last day of each calendar quarter for the calendar quarter ending on such date, pay a fee (in each case, a "Letter of Credit Commission Fee") to the Agent in respect of each Letter of Credit issued, extended or renewed at the request of the Borrowers equal to the face amount determined daily of each Letter of Credit multiplied by the Letter of Credit Commission Fee Rate per annum. The Agent shall, in turn, remit to each Lender its pro rata portion of such Lette...
Reimbursement and Other Payments. (a) The LOC Bank hereby agrees to pay to the Confirming Bank the following amounts:
(i) when a draw is made under the Confirmation:
(A) immediately after such drawing under the Confirmation, a sum (and interest thereon as provided in subsection (iii) below) equal to the amount drawn under the Confirmation in reimbursement of the Confirming Bank for such draw; and
(B) in connection with each drawing on the Confirmation, a drawing fee of $250 for each such drawing (and interest thereon as provided in subsection (iii) below);
(ii) immediately after any transfer or amendment of the Confirmation in accordance with its terms, a fee equal to $1,500 (and interest thereon as provided in subsection (iii) below);
(iii) on the date hereof, an origination fee of $100;
(iv) interest on any and all amounts not paid by LOC Bank when due hereunder, for each day from the date such amounts become due until the date on which payment in full is made, after as well as before judgment, shall be payable on demand, at a fluctuating interest rate per annum calculated on the basis of the actual number of days elapsed over a year of 360 days, equal to the Base Rate plus three percent (3.0%); provided that such fluctuating interest rate shall in no event be higher (with respect to each amount due and payable hereunder, from the date such amount is due and payable until the date such amount is paid in full) than the maximum rate permitted by applicable law;
(v) a nonrefundable letter of credit fee with respect to the Confirmation payable in advance (A) on the Issuance Date (for the period from, but not including, the Issuance Date to, and including, the Expiration Date) and (B) thereafter on each Expiration Date (for the extension period from, but not including, the existing Expiration Date to, and including, the new Expiration Date), which fee shall be calculated by multiplying the Confirmation Amount on the date of such fee is due, by a rate of 18 basis points (0.18%) per annum (the “Fee Percentage”), calculated on the basis of the actual number of days elapsed over a year of three hundred sixty (360) days for the number of days in the applicable period; provided, however, in the event that the rating on the Federal Farm Credit Banks Consolidated Systemwide Bonds is downgraded to a rating below “A” by Standard & Poor’s Ratings Group (or any comparable rating, if, at such time, Federal Farm Credit Banks Consolidated Systemwide Bonds are not rated by Standard & Poor’s Ratings Group), t...
Reimbursement and Other Payments. The Borrowers agree to pay to Bank immediately upon demand of Bank (i) at the time when Bank shall pay any draft presented under any Letter of Credit, a sum equal to the amount so paid under such Letter of Credit, plus (ii) interest at the Default Rate on any amount remaining unpaid by the Borrowers to Bank under clause (i) above from such time until payment in full. If Bank is reimbursed for any draw under a Letter of Credit on the same day such draw is honored by Bank, no interest shall accrue on the reimbursement obligations arising from such draw.
Reimbursement and Other Payments. (a) The Borrower hereby agrees to reimburse or pay to the Bank (to the extent not already paid) immediately and on the same Business Day on which the Bank shall be required to pay any draft presented under the Letter of Credit with respect to any Drawing a sum equal to (i) the amount paid by the Bank under the Letter of Credit and (ii) the amount of any taxes, fees, charges or other costs and expenses incurred by the Bank in connection with any payment made by the Bank under or with respect to the Letter of Credit. Notwithstanding the provisions of the immediately preceding sentence, in the event that any draw under the Letter of Credit is a Remarketing Draw, outside the control of the Borrower and such event is not an Event of Default, the Bank agrees that the Borrower will not be obliged to repay any such amounts drawn down until the earlier to occur of (i) demand upon the occurrence of an Event of Default, (ii) upon receipt of the proceeds from the resale of Bonds acquired under the Remarketing Draw or (iii) the Letter of Credit Termination Date. Interest shall accrue on all such amounts drawn down at the rate of the Base Rate plus one hundred (100) basis points and shall be paid monthly in arrears on the first Business Day of each month. In the event that the Bonds remain nonmarketable for longer than 180 days, interest shall accrue on all such amounts at the rate of the Base Rate plus one hundred and fifty (150) basis points and shall be paid monthly in arrears on the first Business Day of each month.
(b) Whenever an Event of Default shall have occurred under this Agreement, the Bank shall have the option to increase the rate of interest on the unpaid principal to the Default Rate, and if it does so, the Borrower agrees to pay interest on the unpaid principal at a rate per annum equal to the Default Rate. The Borrower also agrees that if the entire amount of any Obligation hereunder is not paid in full within ten (10) days of the date when due, the Borrower shall pay to the Bank a late fee equal to thirty-five dollars ($35.00).
(c) If after the date of issuance of the Letter of Credit, any change in any law or regulation or in the interpretation thereof by any court or administrative or governmental authority charged with the administration thereof shall impose, modify or deem applicable any reserve, special deposit or similar requirement which would impose on the Bank any additional costs (i) generally upon the issuance or maintenance of so called le...
Reimbursement and Other Payments. The Company hereby agrees to pay or cause to be paid to the Agent:
2.10.5.1 a sum equal to each amount drawn under the Letters of Credit by an Interest Draft, on the same Business Day that such amount is so drawn after such draw is honored by the Agent;
2.10.5.2 a sum equal to each amount drawn against the Interest Portion of the Letter of Credit Amounts by a Tender Draft (a) in the case of any such amount drawn on an Interest Payment Date (as defined in the Indenture) of the Bonds being purchased with the proceeds of such Tender Draft, the same Business Day that such amount is so drawn after such draw is honored by the Agent, and (b) in all other cases, on the first to occur of (i) the first Business Day of the first calendar month following the calendar month in which such amount is so drawn, (ii) the date on which the Bonds purchased with the proceeds of such Tender Draft are remarketed by the Remarketing Agent and the proceeds thereof delivered to the Trustee, (iii) the date on which the Bonds purchased with the proceeds of such Tender Draft are redeemed or otherwise paid in full, or (iv) the date the Liquidity Period terminates;
2.10.5.3 a sum equal to each amount drawn against the Principal Portion of the Letter of Credit Amounts by a Tender Draft (for the purpose of this subparagraph 2.10.5.3 the "Principal Draft Amount") payable as follows:
Reimbursement and Other Payments. The Borrower shall pay to the Bank: --------------------------------
(a) on or before 3:00 P.M., EST, but after the honoring of a draw by the Bank, on the date that any amount is drawn under the Letter of Credit, a sum equal to such amount so drawn under the Letter of Credit;
(b) on demand, interest on any and all amounts remaining unpaid by the Borrower when due hereunder from the date such amounts become due until payment thereof in full, at a fluctuating interest rate per annum equal at all times to the lesser of (i) the Prime Rate plus two percent (2%) or (ii) the highest lawful rate permitted by applicable law;
(c) on demand, any and all reasonable expenses incurred by the Bank in enforcing any rights under this Agreement and the Bond Documents; and
(d) on demand all charges, commissions, costs and expenses set forth in Sections 4.4, 4.5 and 4.9 hereof.
Reimbursement and Other Payments. Except as otherwise provided in Section 3.3 below, the Borrower shall pay to the Bank:
(a) on or before 4:00 P.M. (Charlotte, North Carolina time) on the date that any amount is drawn under the Letter of Credit, (so long as the Borrower receives notice of the amount of such draw by 11:00 a.m. Charlotte time on the date of such draw) a sum (together with interest on such sum from the date such amount is drawn until the same is paid, at the rate per annum provided in clause (b) of this Section 3.2) equal to such amount so drawn under the Letter of Credit plus, to the extent permitted by applicable law, any and all reasonable charges and expenses which the Bank may pay or incur relative to the Letter of Credit;
(b) on demand, interest on any and all amounts remaining unpaid by the Borrower when due hereunder from the date such amounts become due until payment thereof in full, at a fluctuating interest rate per annum equal at all times to the lesser of the Prime Rate plus two percent (2%) or the highest lawful rate permitted by applicable law;
(c) on demand, any and all reasonable expenses incurred by the Bank in enforcing any rights under this Agreement and the Guaranty; and
(d) on demand, all charges, commissions, costs and expenses set forth in Sections 3.4, 3.5 and 3.9 hereof.
Reimbursement and Other Payments. Borrower agrees to pay to Bank immediately upon demand of Bank (i) at the time when Bank shall pay any draft presented under any Letter of Credit, a sum equal to the amount so paid under such Letter of Credit, plus (ii) interest at the Default Rate on any amount remaining unpaid by Borrower to Bank under clause (i) above from such time until payment in full. Notwithstanding the foregoing, so long as the conditions for Advances set forth in Section 5.2 are satisfied, and unless otherwise elected by Borrower to the contrary, each drawing under a Letter of Credit may be reimbursed by the making of a Line of Credit Loan Advance in an amount equal to such drawing.
Reimbursement and Other Payments. (a) The Company agrees to reimburse the Bank on demand in immediately available funds for each payment made by the Bank pursuant to a Credit or a draft honored by the Bank under such Credit and for each amount otherwise due to the Bank hereunder.
(b) The Company shall pay to the Bank interest on any and all amounts unpaid by the Company when due hereunder (in the case of amounts in respect of interest, to the maximum extent permitted by law) for each day from the date such amounts become due until payment in full, payable on demand, at a fluctuating interest rate per annum (computed on the basis of a year of 360 days for the actual number of days elapsed) equal to the higher of (i) the rate publicly announced by the Bank from time to time as its base rate or prime rate and (ii) the federal funds rate plus 0.5% per annum (not to exceed the Bank's base or prime rate plus 0.5% per annum).
(c) The Company will pay to the Bank a non-refundable annual commission with respect to the Credits as may be agreed upon in writing between the Bank and the Company, payable as provided therein.
(d) All payments by the Company to the Bank hereunder shall be made in lawful currency of the United States and in immediately available funds, without any set-off, counterclaim or deduction whatsoever, at the Bank's principal New York office, which at the date hereof is located at Xxx Xxxxx Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Loan Administration Department, no later than 2:00 p.m. New York City time, on the due date thereof. Whenever any payment hereunder shall be due on
Reimbursement and Other Payments. Borrower agrees to pay to the Agent immediately upon demand of the Agent or the Issuing Lender for reimbursement to the Issuing Lender (i) at the time when the Issuing Lender shall pay any draft presented under any Letter of Credit, a sum equal to the amount so paid under such Letter of Credit, plus (ii) interest at the Default Rate on any amount remaining unpaid by Borrower to the Issuing Lender under clause (i) above from such time until payment in full.