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Common use of Reimbursement and Participations Clause in Contracts

Reimbursement and Participations. (a) Reimbursement by Borrowers. Each Matured LC Obligation shall constitute a loan by Agent to Borrowers. Borrowers hereby promise to pay to Agent, or to Agent's order, on demand, the full amount of each Matured LC Obligation, together with interest thereon at the Late Payment Rate.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp /Ok/)

Reimbursement and Participations. (a) Reimbursement by Borrowersthe Company. Each Matured LC Obligation shall constitute a loan by Agent LC Issuer to Borrowersthe Company. Borrowers hereby promise The Company promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, unless funded under Section 2.11(b) hereof, together with interest thereon at the Late Payment Post-Default Rate.

Appears in 1 contract

Samples: Credit Agreement (Plains Resources Inc)

Reimbursement and Participations. (a) Reimbursement by BorrowersBorrower. Each Matured LC Obligation shall constitute ------------------------- a loan by Agent LC Issuer to BorrowersBorrower. Borrowers hereby promise Borrower promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, together with interest thereon at the Late Payment RateDefault Rate applicable to Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Key Production Co Inc)

Reimbursement and Participations. (a) Reimbursement by BorrowersBorrower. Each Matured LC Obligation shall ------------------------- constitute a loan by Agent LC Issuer to BorrowersBorrower. Borrowers hereby promise Borrower promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, together with interest thereon at the Late Payment RateDefault Rate applicable to Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Inland Resources Inc)

Reimbursement and Participations. (a) Reimbursement by Borrowersthe Company. Each Matured LC Obligation shall ---------------------------- constitute a loan by Agent LC Issuer to Borrowersthe Company. Borrowers hereby promise The Company promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, unless funded under Section 2.11(b) hereof, together with interest thereon at the Late Payment Post-Default Rate.

Appears in 1 contract

Samples: Credit Agreement (Plains Resources Inc)

Reimbursement and Participations. (a) Reimbursement by BorrowersBorrower. Each Matured LC Obligation shall constitute ------------------------- a loan by Agent LC Issuer to BorrowersBorrower. Borrowers hereby promise Borrower promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, together with interest thereon (i) at the Late Payment RateBase Rate to and including the second Business Day after the Matured LC Obligation is incurred and (ii) at the Default Rate on each day thereafter.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Reimbursement and Participations. (a) Reimbursement by BorrowersBorrower. Each Matured LC Obligation shall ------------------------- constitute a loan by Agent LC Issuer to BorrowersBorrower. Borrowers hereby promise Borrower promises to pay to AgentLC Issuer, or to AgentLC Issuer's order, on demand, the full amount of each Matured LC Obligation, together with interest thereon (i) at the Late Payment RateBase Rate to and including the second Business Day after the Matured LC Obligation is incurred and (ii) at the Default Rate on each day thereafter.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)