REIMBURSEMENT FOR DRAWINGS Sample Clauses

REIMBURSEMENT FOR DRAWINGS. The Borrower hereby agrees to pay to the Bank immediately after (and on the same Business Day as) any amount is drawn under the Letter of Credit pursuant to any Interest Drawing, Partial Redemption Drawing or Final Drawing or pursuant to any Tender Drawing (but as to a Tender Drawing, except as otherwise provided below, only to the extent that such drawing represents accrued interest on the Bonds), a sum equal to the amount so drawn. The Borrower also agrees to pay to the Bank, with respect to any Tender Drawing as to which the conditions contained in Subsection 3(d) are not fulfilled, any amount drawn under the Letter of Credit pursuant to such Tender Drawing, such amount to be paid to the Bank immediately after and on the same Business Day as such drawing. All amounts payable under this Subsection 2(c) shall bear interest from the date on which any such amount became payable until paid in full, at the rate provided in clause (iv) of Subsection 2(a), payable on demand.
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REIMBURSEMENT FOR DRAWINGS. Borrower will reimburse Lender for any drawing under a Letter of Credit on the day on which payment of such drawing is made by Lender unless otherwise agreed to in writing by the Lender. All payments hereunder will be made in United States Dollars and as to any drafts or acceptances payable in currency other than United States Dollars, Borrower will pay Lender the equivalent of the amount paid by Lender in United States Dollars. Equivalent United States Dollar amounts will be determined at the selling rate of exchange then offered at the time of payment by Lender for cable transfers to the place of payment in the currency in which the acceptance or draft is payable, plus any payments made by Lender to comply with any governmental exchange regulations applicable to the purchase of such foreign currency. All delinquent reimbursement payments will bear interest at the Default Rate.
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REIMBURSEMENT FOR DRAWINGS. The Borrower for whom a Letter of Credit is -------------------------- issued shall reimburse the applicable Issuing Lender of such Letter of Credit for any draft or other legitimate claim paid under such Letter of Credit within one Business Day following the date of such payment. Such Borrower shall, to the extent of availability under the Total Commitments, effect such payment with the proceeds of a Revolving Loan (which shall be entirely a Base Rate Advance) made to the Borrower for whose account the Letter of Credit was issued in the amount of such payment (whether or not any request therefor has been made by such Borrower), which Revolving Loan shall at such time be made and applied to payment of reimbursement of such drawing without any notice by or consent of the applicable Borrower (except that no such Revolving Loan shall be required to be made by the Lenders to the extent prevented by Applicable Law or following any Event of Default of the type described in (S) 11.1(f) or 11.1(g) hereof, in which case the Borrower shall nevertheless be obligated to make such payment), and shall be repayable, together with interest thereon, in accordance with the provisions of Section 2 hereof; provided, however, that no such Revolving Loan ----------------- shall be made if, after giving effect thereto, the aggregate unpaid principal amount of the Revolving Loans shall together with the then outstanding Letter of Credit Usage (after giving effect to the reimbursement of such Letter of Credit with the proceeds of such Revolving Loan) exceed the Total Commitments, and provided further that no such Foreign Revolving Loan shall be made if, after ---------------- giving effect thereto, the aggregate unpaid principal amount of the Foreign Revolving Loans to the applicable Foreign Borrower shall together with the then outstanding Foreign Letter of Credit Usage of such Foreign Borrower (after giving effect to the reimbursement of such Letter of Credit with the proceeds of such Revolving Loan) exceed the Borrowing Limit for such Foreign Borrower. The applicable Issuing Lender shall, notwithstanding the foregoing, be entitled to the benefits of the provisions of (S)3.5 hereof as to purchases of participations in such Letter of Credit, but only after the date that such reimbursement shall have become due and payable. The applicable Issuing Lender shall promptly notify the Agent, the other Lenders and the applicable Borrower in writing or by telephone confirmed promptly in w...
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REIMBURSEMENT FOR DRAWINGS. Except as otherwise provided in Section 4(g) IAC hereby promises to immediately pay to and reimburse TIC for (or, at TIC’s election, to pay to and reimburse the issuer of any IAC LC directly for) any and all drawings under the IAC LCs.
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REIMBURSEMENT FOR DRAWINGS. Borrower will reimburse Lender for any drawing under a Letter of Credit on the day on which payment of such drawing is
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REIMBURSEMENT FOR DRAWINGS. Borrower will reimburse Lender for any drawing under a Letter of Credit on the day on which payment of such drawing is made by Lender. All payments hereunder will be made in United States Dollars and as to any drafts or acceptances payable in currency other than United States Dollars, Borrower will pay Lender the equivalent of the amount paid by Lender in United States Dollars. Equivalent United States Dollar amounts will be determined at the selling rate of exchange then offered at the time of payment by Lender for cable transfers to the place of payment in the currency in which the acceptance or draft is payable, plus any payments made by Lender to comply with any governmental exchange regulations applicable to the purchase of such foreign currency. All delinquent reimbursement payments will bear interest at the Default Rate. Prior the institution of a controlled disbursement account arrangement between Borrower and Lender, to the extent that Funds are available in any account of Borrower at Lender, Lender will debit such account to pay for any drawing under a Letter of Credit; and if sums are not available in any such accounts, to the extent that sums are available under the Total Facility, Lender will make a Prime Rate Advance (as defined in the Revolving Credit Note) under the Revolving Credit Note in the amount of any drawing under a Letter of Credit and apply the proceeds of such revolving credit loan to such payment
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REIMBURSEMENT FOR DRAWINGS. Each time that a Drawing is made under the Letter of Credit to pay the principal of and interest on maturing Notes, the City, after the Bank has honored such Drawing, shall reimburse the Bank, for the full amount of such Drawing by causing the Issuing and Paying Agent to wire transfer to the Bank amounts in the Note Payment Fund held by the Issuing and Paying Agent, which represent (i) the proceeds of refunding Notes issued to refund maturing Notes and‌
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Related to REIMBURSEMENT FOR DRAWINGS

  • Reimbursement for Advances If the Fund requires the Custodian to advance cash or securities for any purpose for the benefit of a Portfolio including the purchase or sale of foreign exchange or of contracts for foreign exchange, or in the event that the Custodian or its nominee shall incur or be assessed any taxes, charges, expenses, assessments, claims or liabilities in connection with the performance of this Contract, except such as may arise from its or its nominee's own negligent action, negligent failure to act or willful misconduct, any property at any time held for the account of the applicable Portfolio shall be security therefor and should the Fund fail to repay the Custodian promptly, the Custodian shall be entitled to utilize available cash and to dispose of such Portfolio's assets to the extent necessary to obtain reimbursement.

  • Reimbursement for Costs The Grantee shall be paid on a cost reimbursement basis for all eligible Project costs upon the completion, submittal, and approval of each deliverable identified in the Grant Work Plan. Reimbursement shall be requested on Exhibit C, Payment Request Summary Form. To be eligible for reimbursement, costs must be in compliance with laws, rules, and regulations applicable to expenditures of State funds, including, but not limited to, the Reference Guide for State Expenditures, which can be accessed at the following web address: xxxxx://xxx.xxxxxxxxxxxx.xxx/Division/AA/Manuals/documents/ReferenceGuideforStateExpenditures.pdf.

  • REIMBURSEMENT FOR MILEAGE AND INSURANCE 1. An employee who is required by their employer to use their private vehicle for school district related purposes shall receive reimbursement of: Effective July 1, 2019 $ 0.56 c/Km Effective July 1, 2020 $ 0.57 c/Km Effective July 1, 2021 $ 0.58 c/Km 2. The mileage reimbursement rate established in Article B.10.1 shall be increased by 5 cents/kilometer for travel that is approved and required on unpaved roads. 3. The employer shall reimburse an employee who is required to use their personal vehicle for school district purposes, the difference in premium costs between ICBC rate Class 002 (Pleasure to/from Work) and ICBC rate Class 007 (Business Class) where the employee is required to purchase additional insurance in order to comply with ICBC regulations respecting the use of one’s personal vehicle for business purposes.

  • Determinations to Honor Drawing Requests In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the Issuing Lender shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit.

  • Determination to Honor Drawing Request In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, Agent shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

  • Reimbursement for Services Rendered If this Agreement is held to be invalid for any reason, and the Practice is required to refund fees, You agree to pay the Practice an amount equal to the fair market value of the medical services You received during the time period for which the refunded fees were paid.

  • Disbursements, Reimbursement (a) Immediately upon the issuance of each Letter of Credit, each Lender holding a Revolving Commitment shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Issuer a participation in each Letter of Credit and each drawing thereunder in an amount equal to such Xxxxxx’s Revolving Commitment Percentage of the Maximum Undrawn Amount of such Letter of Credit (as in effect from time to time) and the amount of such drawing, respectively. (b) In the event of any request for a drawing under a Letter of Credit by the beneficiary or transferee thereof, Issuer will promptly notify Agent and Borrowing Agent. Regardless of whether Borrowing Agent shall have received such notice, Borrowers shall reimburse (such obligation to reimburse Issuer shall sometimes be referred to as a “Reimbursement Obligation”) Issuer prior to 12:00 Noon, on each date that an amount is paid by Issuer under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to the amount so paid by Issuer. In the event Borrowers fail to reimburse Issuer for the full amount of any drawing under any Letter of Credit by 12:00 Noon, on the Drawing Date, Issuer will promptly notify Agent and each Lender holding a Revolving Commitment thereof, and Borrowers shall be automatically deemed to have requested that a Revolving Advance maintained as a Domestic Rate Loan be made by Lenders to be disbursed on the Drawing Date under such Letter of Credit, and Lenders holding the Revolving Commitments shall be unconditionally obligated to fund such Revolving Advance (all whether or not the conditions specified in Section 8.2 are then satisfied or the commitments of Lenders to make Revolving Advances hereunder have been terminated for any reason) as provided for in Section 2.14(c) immediately below. Any notice given by Issuer pursuant to this Section 2.14(b) may be oral if promptly confirmed in writing; provided that the lack of such a confirmation shall not affect the conclusiveness or binding effect of such notice. (c) Each Lender holding a Revolving Commitment shall upon any notice pursuant to Section 2.14(b) make available to Issuer through Agent at the Payment Office an amount in immediately available funds equal to its Revolving Commitment Percentage (subject to any contrary provisions of Section 2.22) of the amount of the drawing, whereupon the participating Lenders shall (subject to Section 2.14(d)) each be deemed to have made a Revolving Advance maintained as a Domestic Rate Loan to Borrowers in that amount. If any Lender holding a Revolving Commitment so notified fails to make available to Agent, for the benefit of Issuer, the amount of such Lender’s Revolving Commitment Percentage of such amount by 2:00 p.m. on the Drawing Date, then interest shall accrue on such Lender’s obligation to make such payment, from the Drawing Date to the date on which such Lender makes such payment (i) at a rate per annum equal to the Effective Federal Funds Rate during the first three (3) days following the Drawing Date and (ii) at a rate per annum equal to the rate applicable to Revolving Advances maintained as a Domestic Rate Loan on and after the fourth day following the Drawing Date. Agent and Issuer will promptly give notice of the occurrence of the Drawing Date, but failure of Agent or Issuer to give any such notice on the Drawing Date or in sufficient time to enable any Lender holding a Revolving Commitment to effect such payment on such date shall not relieve such Lender from its obligations under this Section 2.14(c), provided that such Lender shall not be obligated to pay interest as provided in Section 2.14(c)(i) and (ii) until and commencing from the date of receipt of notice from Agent or Issuer of a drawing. (d) With respect to any unreimbursed drawing that is not converted into a Revolving Advance maintained as a Domestic Rate Loan to Borrowers in whole or in part as contemplated by Section 2.14(b), because of Borrowers’ failure to satisfy the conditions set forth in Section 8.2 (other than any notice requirements) or for any other reason, Borrowers shall be deemed to have incurred from Agent a borrowing (each a “Letter of Credit Borrowing”) in the amount of such drawing. Such Letter of Credit Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the rate per annum applicable to a Revolving Advance maintained as a Domestic Rate Loan. Each applicable Lender’s payment to Agent pursuant to Section 2.14(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment in respect of the applicable Letter of Credit under this Section 2.14. (e) Each applicable Lender’s Participation Commitment in respect of the Letters of Credit shall continue until the last to occur of any of the following events: (x) Issuer ceases to be obligated to issue or cause to be issued Letters of Credit hereunder; (y) no Letter of Credit issued or created hereunder remains outstanding and uncancelled; and (z) all Persons (other than Borrowers) have been fully reimbursed for all payments made under or relating to Letters of Credit.

  • Reimbursement of Travel Expenses If the Servicer provides access to the Review Materials at one of its properties, the Issuer will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review on receipt of a detailed invoice.

  • Reimbursement of Costs City may reimburse Consultant’s out-of-pocket costs incurred by Consultant in the performance of the Required Services if negotiated in advance and included in Exhibit A. Unless specifically provided in Exhibit A, Consultant shall be responsible for any and all out-of-pocket costs incurred by Consultant in the performance of the Required Services.

  • Meal Reimbursement When an employee is specifically directed by the City to work two (2) hours or longer at the beginning or end of their normal work shift away from their place of residence of at least eight (8) hours or work two (2) hours or longer at the end of their work shift of at least eight (8) hours when the employee is called in to work on their regular day off, or otherwise works under circumstances for which meal reimbursement is authorized per Ordinance 111768 and the employee actually purchases a reasonably priced meal away from his place of residence as a result of such additional hours of work, the employee shall be reimbursed for the "reasonable cost" of such meal in accordance with Seattle Municipal Code (SMC) 4.20.

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