Common use of REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT Clause in Contracts

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Safeway Inc)

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REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender Administrative Agent has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender Administrative Agent shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative AgentCompany, and Company shall reimburse such Issuing Lender Administrative Agent on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "Reimbursement Date") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 8:30 A.M. (New York Pacific time) on the date of such drawing that Company intends to reimburse such Issuing Lender Administrative Agent for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender Administrative Agent for the amount of such drawing; and provided, further that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender Administrative Agent on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing LenderAdministrative Agent, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Safeway Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawingdrawing (whether or not Company is the account party under such Letter of Credit); provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 12:00 Noon (New York City time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing (it being understood, however, that such deemed Notice of Borrowing shall not be deemed to Domestic Administrative be a representation of Company that the representations and warranties contained in the Loan Documents are true, correct and complete in all material respects on and as of the date of such deemed Notice of Borrowing) to Agent requesting Domestic Revolving Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Revolving Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, provided further that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Revolving Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Revolving Lender resulting from the failure of such Domestic Revolving Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Bay Area Warehouse Stores Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. As soon as reasonably practical after the beneficiary of a Letter of Credit attempts to make a drawing under such Letter of Credit, the Issuing Lender of such Letter of Credit shall use reasonable efforts to notify Company thereof; PROVIDED, that the failure to provide such notice shall not in any way affect Company's obligation to reimburse such Issuing Lender in accordance with this subsection 3.3 nor shall such Issuing Lender incur any liability to Company as a result of such failure. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian a currency other than Dollars, shall be calculated in Dollar Equivalents as of by reference to the Reimbursement Dateapplicable Exchange Rate) and in same day funds equal to the amount of such drawingdrawing (whether or not Company is the account party under such Letter of Credit); provided PROVIDED that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 12:00 noon (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian a currency other than Dollars, shall be calculated by reference to the amount drawn in Canadian Dollars converted into Dollar Equivalentsapplicable Exchange Rate) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders having Revolving Loan Commitments shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and providedPROVIDED, further FURTHER that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender having a Revolving Loan Commitment from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Bell & Howell Operating Co)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "Reimbursement Date") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement DateEquivalents) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 12:00 Noon (New York time) on the date of such drawing is honored that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Working Capital Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Working Capital Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn calculated in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Working Capital Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Working Capital Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Working Capital Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Working Capital Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Working Capital Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Hines Holdings Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an If Issuing Lender Bank has determined to honor a request for drawing under a Letter of Credit issued by it, such Issuing Lender Bank shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender Bank on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "Reimbursement Date") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (iy) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender Bank (if Agent is not Issuing Bank) prior to 11:00 10:00 a.m. (New York California time) on the date of such 41. drawing that Company intends to reimburse such Issuing Lender Bank for the amount of such drawing with funds other than the proceeds of Working Capital Loans, Company shall be deemed to have given a timely Notice notice of Borrowing borrowing to Domestic Administrative Agent requesting Domestic Lenders Banks to make Loans that are Domestic Base Rate Working Capital Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing drawing, and (iiz) subject to satisfaction or waiver of the conditions specified in subsection 6.2BSection 5.2, Domestic Lenders Banks shall, on the Reimbursement Date, make Domestic Base Rate Working Capital Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender Bank for the amount of such drawing; and provided, further that if for any reason proceeds of Working Capital Loans are not received by such Issuing Lender Bank on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing LenderBank, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Working Capital Loans, if any, which are so received. Nothing in this subsection 3.3B Section 2.21(e) shall be deemed to relieve any Domestic Lender Bank from its obligation to make Working Capital Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Loans under this subsection 3.3B..

Appears in 1 contract

Samples: Revolving Loan Agreement (Atlantic Gulf Communities Corp)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a request for drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the ``REIMBURSEMENT DATE'') in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the -------- contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2C, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, -------- further that if for any reason proceeds of Revolving Loans are not received by ------- such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Granite Broadcasting Corp)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by itCredit, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided PROVIDED that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 10:00 a.m. (New York California time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject only to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further PROVIDED FURTHER that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Oakley Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”"REIMBURSEMENT DATE") immediately following the date on which such drawing is honored in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement DateEquivalents) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Loans that are Tranche A Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B, Domestic Lenders shall, on the Reimbursement Date, make Tranche A Domestic Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Safeway Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify the Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and the Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 12:00 Noon (New York time) on the date of such drawing is honored that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Loans under this subsection 3.3B.to

Appears in 1 contract

Samples: Credit Agreement (FWT Inc)

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REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a request for drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the ``Reimbursement Date'') in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2C, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Granite Broadcasting Corp)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this -------- Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent (if Issuing Lender is not Administrative Agent) and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.3B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason -------- ------- proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Afc Enterprises Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this -------- Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent (if Issuing Lender is not Administrative Agent) and such Issuing Lender prior to 11:00 a.m. A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.2B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and provided, further that if for any reason -------- ------- proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Afc Enterprises Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative Agent, and Company shall reimburse such Issuing Lender on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "REIMBURSEMENT DATE") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided PROVIDED that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 10:00 A.M. (New York time) on the date of such drawing that Company intends to reimburse such Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Revolving Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.5B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Revolving Loans that are Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender for the amount of such drawing; and providedPROVIDED, further FURTHER that if for any reason proceeds of Revolving Loans are not received by such Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Regent Communications Inc)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an the Issuing Lender has determined to honor a drawing under a Letter of Credit issued by it, such the Issuing Lender shall immediately notify Company that requested and (unless the issuance of such Issuing Letter of Credit and Domestic is Administrative Agent) Administrative Agent, and Company shall reimburse such Issuing Lender Administrative Agent on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "Reimbursement Date") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Adminis trative Agent and such the Issuing Lender prior to 11:00 a.m. 8:30 A.M. (New York Pacific time) on the date of such drawing that Company intends to reimburse such the Issuing Lender for the amount of such drawing with funds other than the proceeds of Revolving Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Loans that are Domestic Base Rate Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.4B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Base Rate Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such the Issuing Lender for the amount of such drawing; and provided, further that if for any reason proceeds of Revolving Loans are not received by such the Issuing Lender on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such the Issuing Lender, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Revolving Loans on the terms and conditions condi tions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Revolving Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

REIMBURSEMENT BY COMPANY OF AMOUNTS DRAWN UNDER LETTERS OF CREDIT. In the event an Issuing Lender Administrative Agent has determined to honor a drawing under a Letter of Credit issued by it, such Issuing Lender Administrative Agent shall immediately notify Company that requested the issuance of such Letter of Credit and Domestic Administrative AgentCompany, and Company shall reimburse such Issuing Lender Administrative Agent on or before the Business Day (the “Reimbursement Date”) immediately following the date on which such drawing is honored (the "Reimbursement Date") in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be calculated in Dollar Equivalents as of the Reimbursement Date) and in same day funds equal to the amount of such drawing; provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless Company shall have notified Domestic Administrative Agent and such Issuing Lender prior to 11:00 a.m. 8:30 A.M. (New York Pacific time) on the date of such drawing that Company intends to reimburse such Issuing Lender Administrative Agent for the amount of such drawing with funds other than the proceeds of Tranche A Loans, Company shall be deemed to have given a timely Notice of Borrowing to Domestic Administrative Agent requesting Domestic Lenders to make Loans that are Domestic Base Rate Tranche A Loans on the Reimbursement Date in an amount in Dollars (which amount, in the case of a drawing under a Letter of Credit which is denominated in Canadian Dollars, shall be the amount drawn in Canadian Dollars converted into Dollar Equivalents) equal to the amount of such drawing and (ii) subject to satisfaction or waiver of the conditions specified in subsection 6.2B4.4B, Domestic Lenders shall, on the Reimbursement Date, make Domestic Base Rate Tranche A Loans in the amount of such drawing, the proceeds of which shall be applied directly by Domestic Administrative Agent to reimburse such Issuing Lender Administrative Agent for the amount of such drawing; and provided, further that if for any reason proceeds of Tranche A Loans are not received by such Issuing Lender Administrative Agent on the Reimbursement Date in an amount equal to the amount of such drawing, Company shall reimburse such Issuing LenderAdministrative Agent, on demand, in an amount in same day funds equal to the excess of the amount of such drawing over the aggregate amount of such Tranche A Loans, if any, which are so received. Nothing in this subsection 3.3B shall be deemed to relieve any Domestic Lender from its obligation to make Tranche A Loans on the terms and conditions set forth in this Agreement, and Company shall retain any and all rights it may have against any Domestic Lender resulting from the failure of such Domestic Lender to make such Tranche A Loans under this subsection 3.3B.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

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