Common use of Reimbursement Obligation of the Borrower Clause in Contracts

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 13 contracts

Samples: Credit Agreement (B&G Foods, Inc.), Credit Agreement (B&G Foods, Inc.), Credit Agreement (B&G Foods, Inc.)

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Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date (i) the Business Day on which the Borrower receives notice from an Issuing Lender of a draft drawn on a Letter of Credit issued by such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender Lender, if such notice is received on such Business Day prior to 11:00 A.M., New York City time, or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 9 contracts

Samples: Credit Agreement (PG&E Corp), Credit Agreement (PG&E Corp), Assignment and Assumption (PACIFIC GAS & ELECTRIC Co)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on the next Business Day after each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft drawing presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.5, 2.2 if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 8 contracts

Samples: Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(e). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f10(e) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 5.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 7 contracts

Samples: Credit Agreement (Boston Scientific Corp), Year Revolving Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment by the Borrower of the Payment Amount shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Revolving Credit Loans as Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 7 contracts

Samples: Credit Agreement (Cinemark Holdings, Inc.), Credit Agreement (Cinemark Usa Inc /Tx), Credit Agreement (Cinemark Usa Inc /Tx)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”), on the Business Day that the Borrower receives notice of such draft, if such notice is received on such day (or if the Borrower shall have received such notice later than 10:00 A.M. New York City time on such Business Day, on the immediately following Business Day). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b5.8(b) and (ii) thereafter, Section 2.13(c5.8(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause Section 10(g), (ih) or (ii) of Section 7(fi) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 4.4(a) for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.53.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 5 contracts

Samples: Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender. The Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before x) on the date same Business Day if demand is made by the Issuing Lender on which Base Rate Loans would be or prior to 11:00 a.m., New York City time and (y) on the next Business Day if demand is made (or by the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Issuing Lender after 11:00 a.m., New York City time, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other out-of-pocket costs or expenses incurred by such Issuing Lender in connection with such payment payment, other than taxes (i) based upon net income or (ii) payable pursuant to Section 2.20 (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(a) and (ii) thereafter, Section 2.13(cSection 2.15(b). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 5 contracts

Samples: Credit Agreement, Credit Agreement (National CineMedia, LLC), Credit Agreement (National CineMedia, LLC)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender. The Borrower agrees to reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses (other than taxes or similar amounts) incurred by such the Issuing Lender in connection with such payment on (x) the amounts described in same Business Day on which the foregoing clauses Borrower receives such notice if the Borrower receives such notice by 12:00 Noon New York City time on such day or (ay) and (b) in respect of any drawing, collectively, the “Payment Amount”)next Business Day if the Borrower receives such notice after 12:00 Noon New York City time on such day. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 (or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 5 contracts

Samples: Credit Agreement (Microsemi Corp), Credit Agreement (Microsemi Corp), Credit Agreement (Microsemi Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 5 contracts

Samples: Credit Agreement (Imperial Holly Corp), Credit Agreement (Nebraska Book Co), Credit Agreement (NBC Acquisition Corp)

Reimbursement Obligation of the Borrower. (a) The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 4 contracts

Samples: Credit Agreement (Salton Inc), Credit Agreement (Salton Inc), Credit Agreement (Salton Maxim Housewares Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender through the Administrative Agent on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented drawing under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable relevant drawing is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(e). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(fsubsection 10(g) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 5.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 4 contracts

Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(d). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) subsection 9(c), or (ii) of Section 7(fh) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 4.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 4 contracts

Samples: First Amendment (Henry Schein Inc), Credit Agreement (Henry Schein Inc), Credit Agreement (Schein Henry Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft presented paid by the Issuing Lender under any Letter of Credit and paid by such Credit. The Borrower agrees to reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses (other than taxes or similar amounts) incurred by such the Issuing Lender in connection with such payment (on the amounts described in next Business Day following the foregoing clauses (a) and (b) in respect of any drawing, collectively, date on which the “Payment Amount”)Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available fundsfunds (it being agreed that with respect to any Letter of Credit in a currency other than Dollars, such payment shall be made in the Dollar Amount of the applicable amount). Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 (or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 4 contracts

Samples: Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each the Business Day following the date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit issued by such Issuing Lender at the Borrower’s request and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxesNon-Excluded Taxes and Other Taxes, fees, charges or other costs or expenses reasonably incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein to the Borrower in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the a rate set forth in equal to (i) until the second Business Day following next succeeding the date of the relevant notice, the rate applicable drawing, Section 2.13(b) to ABR Loans under the Revolving Facility and (ii) thereafter, the rate set forth in Section 2.13(c2.15(c). Each drawing under In the case of any such reimbursement in Dollars with respect to a Letter of Credit denominated in a Permitted Foreign Currency, the applicable Issuing Lender shall (unless an event notify the Borrower of the type described in clause (i) or (ii) Dollar Equivalent of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if draft so paid promptly following the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdetermination thereof.

Appears in 4 contracts

Samples: Credit Agreement (Booz Allen Hamilton Holding Corp), Credit Agreement (Booz Allen Hamilton Holding Corp), Credit Agreement (Booz Allen Hamilton Holding Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other actual out-of-pocket costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (iSection 9(f) or (ii) of Section 7(f9(g) shall have occurred and be continuing with respect to the Borrowercontinuing, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Metropcs Communications Inc), Credit Agreement (Metropcs Communications Inc), Credit Agreement (Metropcs Communications Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 12:00 noon, New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawing, collectivelyabove does not apply, the “Payment Amount”)Business Day immediately following the day that the Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from and including the date of on which the applicable drawing until relevant draft is paid but excluding the date payment is made in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless (x) Borrower directly reimburses the Issuing Lender in accordance with this Section 3.11 or (y) an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Henry Schein Inc), Credit Agreement (Henry Schein Inc), Credit Agreement (Henry Schein Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Lodgenet Entertainment Corp), Credit Agreement (Dobson Communications Corp), Credit Agreement (Carmike Cinemas Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date (i) the Business Day on which such the Borrower receives notice from the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any drawn on a Letter of Credit issued by the Issuing Lender and paid by the Issuing Lender, if such Issuing Lender notice is received on such Business Day prior to 10:00 A.M. or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (aA) such draft so paid and (bB) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (aA) and (bB) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.3 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.3), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Fair Isaac Corp), Credit Agreement (Fair Isaac Corp), Credit Agreement (Fair Isaac Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each or before the Business Day following the date on which such Issuing Lender notifies the Borrower of the date and amount of a draft drawing presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Essential Properties Realty Trust, Inc.), Credit Agreement (Essential Properties Realty Trust, Inc.), Credit Agreement (Essential Properties Realty Trust, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender through the Administrative Agent on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(e). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(fsubsection 10(g) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 5.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second third Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply, or unless the Borrower otherwise notifies the Administrative Agent and the relevant Issuing Lender and reimburses such Issuing Lender before a Loan would otherwise be made pursuant to this sentence) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Chefford Master Manufacturing Co Inc), Credit Agreement (UCI Holdco, Inc.), Credit Agreement (UCI Holdco, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies provides written notice to the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment; provided that if the Issuing Lender does not so notify the Borrower as provided for above earlier than 9:30 a.m., Local Time on the date such draft is paid (or on any subsequent date on which notice is provided) then such reimbursement payment (may be made two Business Days immediately subsequent to the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)date such notice is given. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein or as it may otherwise direct in lawful money of the United States of America States, as the case maybe, and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate ABR Loans in the amount of such drawing, subject to the conditions to borrowing set forth in Section 5.2. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing drawing. If any amounts under this Article III remain unpaid because the conditions set forth in Section 5.2 cannot be satisfied or for any other reason, such amounts shall bear interest from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the time of such drawing under such Letter of Creditrate set forth in Section 2.15(c).

Appears in 3 contracts

Samples: Credit Agreement (Forrester Research, Inc.), Credit Agreement (Forrester Research, Inc.), Credit Agreement (Forrester Research, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.16(b) and (ii) thereafter, Section 2.13(c2.16(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Pinnacle Entertainment Inc), Credit Agreement (Pinnacle Entertainment Inc), Credit Agreement (Pinnacle Entertainment Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans (or, at the option of the Administrative Agent and any Swing Line Lender in its sole discretion, a borrowing pursuant to Section 2.4 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.2 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: And Restatement Agreement Second Amendment and Restatement Agreement (Chatham Lodging Trust), Credit Agreement (Chatham Lodging Trust), Credit Agreement (Chatham Lodging Trust)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date (i) the Business Day on which the Borrower receives notice from an Issuing Lender of a drawing on a Letter of Credit issued by such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender Lender, if such notice is received on such Business Day prior to 11:00 A.M., New York City time, or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit If the Borrower fails to make such payment in accordance with the foregoing, such failure shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect deemed to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Designated Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans in an amount equal to the amount of such drawingPayment Amount. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.1, if the Administrative Designated Agent had received a notice of such borrowing at the time the Designated Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (PG&E Corp), Credit Agreement (PG&E Corp), Assignment and Assumption (PG&E Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each the Business Day following the date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit issued by such Issuing Lender at the Borrower’s request and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of to the United States of America Borrower and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the a rate set forth in equal to (i) until the second Business Day following next succeeding the date of the relevant notice, the rate applicable drawing, Section 2.13(b) to Base Rate Loans under the Revolving Facility and (ii) thereafter, the rate set forth in Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 3 contracts

Samples: Credit Agreement (Allison Transmission Holdings Inc), And Collateral Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on the next Business Day after each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft drawing presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(d). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(e) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.5, 2.2 if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft presented paid by the Issuing Lender under any Letter of Credit and paid by such Credit. The Borrower agrees to reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses (other than taxes or similar amounts) incurred by such the Issuing Lender in connection with such payment (on the amounts described in next Business Day following the foregoing clauses (a) and (b) in respect of any drawing, collectively, date on which the “Payment Amount”)Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 (or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) Section 3.5(b) until the second Business Day following next succeeding the date of the applicable drawing, Section 2.13(b) relevant notice and (ii) Section 3.5(c) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such Section shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Chesapeake Energy Corp), Credit Agreement (Chesapeake Energy Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, within one (1) Business Day (or two (2) Business Days if the Borrower and the Administrative Agent are notified on each date after 11:00 a.m. on such date) after the Business Day on which such Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender through the Administrative Agent in lawful money at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each notice from an Issuing Lender of a drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 2.22 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.9(b) and (ii) thereafter, Section 2.13(c2.9(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.22 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Revolving Credit Agreement (B&g Foods Holdings Corp), Polaner Inc

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid (calculated, in the case of a Letter of Credit denominated in an Alternative Currency, based upon the Dollar Equivalent of such draft) and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available fundsfunds on the date which the Borrower receives such notice, if received prior to 11:00 A.M., New York City time, on a Business Day and, otherwise, on the next succeeding Business Day. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Day International Group Inc), Senior Secured Credit Agreement (Day International Group Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 5:00 P.M., New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawing, collectivelyabove does not apply, the “Payment Amount”)Business Day immediately following the day that the Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money the currency in which such Letter of Credit is denominated (except that, in the United States case of America any Letter of Credit denominated in any Designated Foreign Currency, upon notice by the Issuing Lender to the Borrower, such payment shall be made in Dollars from and after the date on which the amount of such payment shall have been converted into Dollars at the Spot Rate of Exchange on such date of conversion, which date of conversion may be any Business Day after the Business Day on which such payment is due) and in immediately available funds. Any conversion by the Issuing Lender of any payment to be made in respect of any Letter of Credit denominated in any Designated Foreign Currency into Dollars in accordance with this Section 3.5 shall be conclusive and binding upon the other parties hereto in the absence of manifest error; provided that upon the request of the Borrower, the Issuing Lender shall provide to the Borrower a certificate including reasonably detailed information as to the calculation of such conversion. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.12(b) and (iiy) thereafter, Section 2.13(c2.12(c). Each drawing under ; provided that if any such amount is denominated in a Designated Foreign Currency for any period, such interest shall be payable at the rate charged by the Issuing Lender for reimbursement of overdue obligations in such Designated Foreign Currency owing by account parties with similar credit profiles to that of the Borrower; provided, further, that if any reimbursement is required to be paid in respect of a Letter of Credit denominated in Dollars, and such reimbursement is not made in accordance with this Section 3.5, the Borrower shall be deemed to have requested a Revolving Extension of Credit in an equivalent amount of such owed reimbursement (unless provided such request would not result in the Total Revolving Extensions of Credit at such time exceeding Total Revolving Commitments) and provided, further, that if any reimbursement is required to be paid in respect of a Letter of Credit denominated in any Designated Foreign Currency, and such reimbursement is not made in accordance with this Section 3.5, the Borrower shall be deemed to have requested a Revolving Extension of Credit in an event equivalent amount of such owed reimbursement, which amount shall have been converted into Dollars at the Spot Rate of Exchange on the date of conversion, which dated of conversion may be any Business Day after the Business Day on which such payment is due (provided such request would not result in the Total Revolving Extensions of Credit at such time exceeding Total Revolving Commitments) to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting Revolving Loan. If the Borrower fails to make such reimbursement when due, the Administrative Agent shall notify each Revolving Lender of the type described applicable disbursement, the payment then due from the Borrower in clause respect thereof and such Lender’s share thereof based on the Revolving Percentages (i) or (ii) the “Reimbursement Percentage”). Promptly following receipt of Section 7(f) such notice, each Revolving Lender shall have occurred and be continuing with respect pay to the Administrative Agent its Reimbursement Percentage of the payment then due from the Borrower, in which case the procedures specified same manner as provided in Section 2.26 for funding 2.5 hereof with respect to Loans made by L/C Participants such Lender (and Section 2.5 shall apply) constitute a request by , mutatis mutandis, to the Borrower to payment obligations of the relevant Revolving Lenders), and the Administrative Agent for a borrowing pursuant shall promptly pay to Section 2.5 of Base Rate Loans in the amount of applicable Issuing Lender the amounts so received by it from such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of CreditLenders.

Appears in 2 contracts

Samples: Credit Agreement (Gartner Inc), Credit Agreement (Gartner Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Management Services Agreement (Dobson Communications Corp), Credit Agreement (Dobson Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b3.4(b) and (ii) thereafter, Section 2.13(c3.4(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.2 or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (CKX, Inc.), Revolving Credit Agreement (CKX, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”"PAYMENT AMOUNT"). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Tsi Finance Inc), Credit Agreement (Spanish Broadcasting System Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses subsections (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to the Administrative Agent at the Payment Office, for the account of the Issuing Lender, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Issuing Lender promptly upon receipt at its address for notices specified herein in lawful money of the United States of America and in immediately available fundslike funds as received. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause subsection (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Wynn Resorts LTD), Credit Agreement (Wynn Las Vegas LLC)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.12(b) and (ii) thereafter, Section 2.13(c2.12(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Hudson Pacific Properties, Inc.), Credit Agreement (Hudson Pacific Properties, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.53.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Carmike Cinemas Inc), Credit Agreement (Muzak Holdings LLC)

Reimbursement Obligation of the Borrower. If any draft or other form of demand shall be presented for payment under any Letter of Credit, the Issuing Lender shall promptly notify the Borrower and the Administrative Agent of the date and amount thereof. The Borrower agrees to reimburse each the Issuing Lender on each within one Business Day of the date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses subsections (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to the Administrative Agent at the Payment Office, for the account of the Issuing Lender, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Issuing Lender promptly upon receipt at its address for notices specified herein in lawful money of the United States of America and in immediately available fundslike funds as received. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth for Revolving Credit 1 Loans in (i) until the second first Business Day following the date notice of the applicable drawingdrawing is received by the Borrower from the Issuing Lender, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause subsection (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing of Revolving Credit 1 Loans that are Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.5 2.7 of Base Rate Loans Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to the conditions set forth in Section 2.55.3 (other than Section 5.3(a)) are satisfied (or, if Swing Line Loans are then available, the Administrative Agent had received a notice of such borrowing at first date on which the time of conditions set forth in Section 2.7 are satisfied) after such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Intercreditor Agreement (Wynn Las Vegas LLC), Credit Agreement (Wynn Resorts LTD)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date (i) the Business Day on which the Borrower receives notice LOSANGELES 618830 v1 (2K) from an Issuing Lender of a draft drawn on a Letter of Credit issued by such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender Lender, if such notice is received on such Business Day prior to 11:00 A.M., New York City time, or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Pacific Gas & Electric Co), Credit Agreement (Pg&e Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender. The Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before x) on the date same Business Day if demand is made by the Issuing Lender on which Base Rate Loans would be or prior to 10:00 a.m., New York City time and (y) on the next Business Day if demand is made (or by the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Issuing Lender after 10:00 a.m., New York City time, for the amount of (a) such draft so paid and (b) any taxesTaxes, fees, charges or other out-of-pocket costs or expenses incurred by such Issuing Lender in connection with such payment payment, other than Taxes (i) based upon net income or (ii) payable pursuant to Section 2.20 (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(a) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to ---------------------------------------- reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount the amount of any drawing under any Letter of Credit (plus any taxes, fees, charges or other costs payable by the Borrower pursuant to clause (b) of the preceding sentence) from the date of the applicable such drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.5, 2.5 if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Sba Communications Corp), Credit Agreement (Sba Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawingLoans. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Villa Pines Care LLC), Credit Agreement (Gallipolis Care LLC)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date (i) the Business Day on which such the Borrower receives notice from the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any drawn on a Letter of Credit issued by the Issuing Lender and paid by the Issuing Lender, if such Issuing Lender notice is received on such Business Day prior to 10:00 A.M. or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (aA) such draft so paid and (bB) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (aA) and (bB) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Fair Isaac Corp), Credit Agreement (Fair Isaac Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender the L/C Arranger on each the date on which such Issuing Lender the L/C Arranger notifies the Borrower of the date and amount of a draft presented and paid under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the L/C Arranger or the Issuing Lender (without duplication) in connection with such payment (the amounts described in the foregoing clauses (a) payment, other than taxes based upon net income and (b) in respect of any drawing, collectively, the “Payment Amount”)other than taxes payable pursuant to Section 4.10. Each such payment to be made by the Borrower shall be made to such Issuing Lender the Administrative Agent at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available fundsfunds and the Administrative Agent shall promptly distribute such payment to the L/C Arranger. Interest shall be payable on each Payment Amount any and all such amounts remaining unpaid by the Borrower from the date of on which the applicable drawing relevant draft is paid until payment in full or conversion as set forth below, at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent, a borrowing of Swingline Loans pursuant to Section 3.4) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 (or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Einstein Noah Restaurant Group Inc), Credit Agreement (New World Restaurant Group Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower (such notice to be promptly delivered by the Issuing Lender to the Borrower) of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.14(b) and (ii) thereafter, Section 2.13(c2.14(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 or, if applicable, Section 2.7, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Inamed Corp), Credit Agreement (Inamed Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the same Business Day on which such the Issuing Lender notifies the Borrower ACEP of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date on which the relevant draft is paid until payment in full in (i) until the Business Day next succeeding the date of the applicable drawing until payment relevant notice, at the rate set forth Section 3.5(b) and (ii) in full the event that the Borrower fails to satisfy the conditions precedent set forth in Section 5.3, thereafter, at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c3.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawingdrawing and such amount shall constitute a Loan hereunder. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (American Real Estate Partners L P), Credit Agreement (Stratosphere Leasing, LLC)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 12:00 Noon, New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawing, collectivelyabove does not apply, the “Payment Amount”)Business Day immediately following the day that the Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money the currency in which such Letter of Credit is denominated (except that, in the United States case of America any Letter of Credit denominated in any Designated Foreign Currency, upon notice by the Issuing Lender to the Borrower, such payment shall be made in Dollars from and after the date on which the amount of such payment shall have been converted into Dollars at the Spot Rate of Exchange on such date of conversion, which date of conversion may be any Business Day after the Business Day on which such payment is due) and in immediately available funds. Any conversion by the Issuing Lender of any payment to be made in respect of any Letter of Credit denominated in any Designated Foreign Currency into Dollars in accordance with this Section 3.5 shall be conclusive and binding upon the other parties hereto in the absence of manifest error; provided that upon the request of the Borrower, the Issuing Lender shall provide to the Borrower a certificate including reasonably detailed information as to the calculation of such conversion. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.12(b) and (iiy) thereafter, Section 2.13(c2.12(c). Each drawing under ; provided that if any such amount is denominated in a Designated Foreign Currency for any period, such interest shall be payable at the rate charged by the Issuing Lender for reimbursement of overdue obligations in such Designated Foreign Currency owing by account parties with similar credit profiles to that of the Borrower; and provided, further, that if any reimbursement is required to be paid in respect of a Letter of Credit denominated in Dollars, and such reimbursement is not made in accordance with this Section 3.5, the Borrower shall be deemed to have requested a Revolving Extension of Credit in an equivalent amount of such owed reimbursement (unless an event provided such request would not result in the Total Revolving Extensions of Credit at such time exceeding Total Revolving Commitments) and to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting Revolving Loan. If the Borrower fails to make such reimbursement when due, the Administrative Agent shall notify each Revolving Lender of the type described applicable disbursement, the payment then due from the Borrower in clause respect thereof and such Lender’s share thereof based on the Revolving Percentages (i) or (ii) the “Reimbursement Percentage”). Promptly following receipt of Section 7(f) such notice, each Revolving Lender shall have occurred and be continuing with respect pay to the Administrative Agent its Reimbursement Percentage of the payment then due from the Borrower, in which case the procedures specified same manner as provided in Section 2.26 for funding 2.5 hereof with respect to Loans made by L/C Participants such Lender (and Section 2.5 shall apply) constitute a request by , mutatis mutandis, to the Borrower to payment obligations of the relevant Revolving Lenders), and the Administrative Agent for a borrowing pursuant shall promptly pay to Section 2.5 of Base Rate Loans in the amount of applicable Issuing Lender the amounts so received by it from such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of CreditLenders.

Appears in 2 contracts

Samples: Credit Agreement (Gartner Inc), Credit Agreement (Gartner Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section 3.4 from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 2 contracts

Samples: Credit Agreement (Grand Union Co /De/), Credit Agreement (Grand Union Co /De/)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, within one Business Day (or two Business Days if the Borrower and the Administrative Agent are notified on each date after 11:00 a.m. New York City time on such date) after the Business Day on which such Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each notice from an Issuing Lender of a drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans (or, at the option of the Administrative Agent and the applicable Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.2 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the relevant Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any unexpired Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses provided for in subsection 3.3(b) which are incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the relevant Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this subsection 3.5 from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(bsubsection 2.10(b) and (ii) thereafter, Section 2.13(csubsection 2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(fsubsection 8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate Loans in the amount of such drawingdrawing plus interest and expenses incurred by the relevant Issuing Lender. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice such drawing and all proceeds of such borrowing at shall be paid to the time of such drawing under such Letter of Creditrelevant Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Tesoro Petroleum Corp /New/), Tesoro Petroleum Corp /New/

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Hanger Orthopedic Group Inc), Credit Agreement (Pinnacle Entertainment Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b3.4(b) and (ii) thereafter, Section 2.13(c3.4(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Carmike Cinemas Inc), Credit Agreement (Carmike Cinemas Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each no later than three Business Days after the date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second third Business Day following notice to the date of the applicable drawingBorrower, Section 2.13(b4.06(b) and (ii) thereafter, Section 2.13(c4.06(c). Each Unless the Borrower shall otherwise notify the Issuing Lender and the Administrative Agent, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.07 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 4.01 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.54.01, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Roundy's, Inc.), Credit Agreement (Roundy's, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other reasonable costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each To the extent not so reimbursed as set forth above, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.53.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Protection One Alarm Monitoring Inc), Credit Agreement (Protection One Alarm Monitoring Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each An Issuing Lender on each date on which such Issuing Lender notifies shall notify the Borrower of the date and amount of a draft drawing presented under any Letter of Credit and paid by such Issuing Lender. The Borrower agrees to reimburse such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses (other than taxes or similar amounts) incurred by such Issuing Lender in connection with such payment (on the amounts described in Business Day after the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)Borrower receives such notice. Each such payment shall be made to such Issuing Lender at its address for notices specified referred to herein in lawful money of Dollars or in the United States of America applicable Alternate Currency and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable relevant drawing is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b3.5(b) in respect of Revolving Loans (or, in the case of any Letter of Credit denominated in any Alternate Currency, Section 3.5(a)) and (ii) thereafter, Section 2.13(c3.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing (or, in the case of a Letter of Credit denominated in an Alternate Currency, a borrowing pursuant to Section 2.2 of Eurodollar Loans in the amount of such drawing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from an Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (2U, Inc.), Credit Agreement (2U, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date the same Business Day on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Itron Inc /Wa/), Credit Agreement (Itron Inc /Wa/)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of such amounts become payable (whether at stated maturity, by acceleration or otherwise) until the applicable drawing date that is two Business Days after such draft is so paid at the rate set forth in Section 2.13(b) and thereafter until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate ABR Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 2 contracts

Samples: Credit Agreement (Friendlys Restaurants Franchise Inc), Credit Agreement (Friendly Ice Cream Corp)

Reimbursement Obligation of the Borrower. The If any draft is paid under any Letter of Credit, the Borrower agrees to shall, at its option, either (i) reimburse each the applicable Issuing Lender through the Administrative Agent if so requested by the Administrative Agent on each date the Business Day next succeeding the Business Day on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender or (but in any event no ii) (x) request an ABR Loan pursuant to Section 2.2 hereof (if otherwise permitted hereunder) to be made on the Business Day next succeeding the Business Day on which such reimbursement shall be required before Issuing Lender notifies the Borrower of the date on which Base Rate Loans would and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender and (y) direct that the proceeds of such ABR Loan be made (or applied to reimburse the procedure specified applicable Issuing Lender; in Section 2.26 would become applicable) as described in the last two sentences of this Section) each case for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or and expenses described in Section 3.3(b) incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such Issuing Lender or the Administrative Agent at (x) in the case of such Issuing Lender, its address for notices specified herein on Schedule 1.1D or such other address as such Issuing Lender shall notify to the Borrower and (y) in lawful money the case of the United States of America Administrative Agent, at the Funding Office, in each case in Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.11(b) and (iiy) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (AV Homes, Inc.), Credit Agreement (AV Homes, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Tesoro Petroleum Corp /New/)

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Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 12:00 Noon, New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawing, collectivelyabove does not apply, the “Payment Amount”)Business Day immediately following the day that the Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money the currency in which such Letter of Credit is denominated (except that, in the United States case of America any Letter of Credit denominated in any Designated Foreign Currency, upon notice by the Issuing Lender to the Borrower, such payment shall be made in Dollars from and after the date on which the amount of such payment shall have been converted into Dollars at the Spot Rate of Exchange on such date of conversion, which date of conversion may be any Business Day after the Business Day on which such payment is due) and in immediately available funds. Any conversion by the Issuing Lender of any payment to be made in respect of any Letter of Credit denominated in any Designated Foreign Currency into Dollars in accordance with this Section 3.5 shall be conclusive and binding upon the other parties hereto in the absence of manifest error; provided that upon the request of the Borrower, the Issuing Lender shall provide to the Borrower a certificate including reasonably detailed information as to the calculation of such conversion. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.12(b) and (iiy) thereafter, Section 2.13(c2.12(c). Each drawing under ; provided that if any such amount is denominated in a Designated Foreign Currency for any period, such interest shall be payable at the rate charged by the Issuing Lender for reimbursement of overdue obligations in such Designated Foreign Currency owing by account parties with similar credit profiles to that of the Borrower; and provided, further, that if any reimbursement is required to be paid in respect of a Letter of Credit denominated in Dollars, and such reimbursement is not made in accordance with this Section 3.5, the Borrower shall be deemed to have requested a Revolving Extension of Credit in an equivalent amount of such owed reimbursement (unless an event provided such request would not result in the Total Revolving Extensions of Credit at such time exceeding Total Revolving Commitments) and to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting Revolving Loan. If the Borrower fails to make such reimbursement when due, the Administrative Agent shall notify each Revolving Lender of the type described applicable disbursement, the payment then due from the Borrower in clause respect thereof and such Lender’s share thereof based on the Revolving Percentages (i) or (ii) the “Reimbursement Percentage”). Promptly following receipt of Section 7(f) such notice, each Revolving Lender shall have occurred and be continuing with respect pay to the Administrative Agent its Reimbursement Percentage of the payment then due from the Borrower, in which case the procedures specified same manner as provided in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date hereof with respect to Loans made by such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Lender (and Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.42

Appears in 1 contract

Samples: Credit Agreement (Gartner Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 12:00 Noon, New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawingabove does not apply, collectivelythe Business Day immediately following the day that the Borrower receives such notice (such date, the “Payment AmountReimbursement Date”). Each such payment shall be made to such the relevant Issuing Lender at its address for notices specified referred to herein (or in lawful money the case of any payment in a currency other than Dollars, as directed by such Issuing Lender) in the United States currency in which such Letter of America Credit is denominated and in immediately available fundsfunds (or, in the case of a currency other than Dollars, in such funds as shall be customary for settlement of obligations in such currency in the interbank market). Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.9(b) and (iiy) thereafter, Section 2.13(c2.9(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by It is understood that the Borrower may elect to use the Administrative Agent for proceeds of a borrowing pursuant to Section 2.5 2.2 to finance its reimbursement obligations pursuant to this Section 3.5. Notwithstanding the last sentence of Base Rate Loans in Section 2.2, the amount proceeds of such drawing. The Borrowing Date with respect to any such borrowing of Loans shall be made available to the first date on which a borrowing of Revolving Credit Loans could be maderelevant Issuing Lender (and not to the Borrower) to the account specified by such Issuing Lender, pursuant to Section 2.5, if in like funds as received by the Administrative Agent had received a notice Agent, and the Issuing Lender may credit its Pro Rata Share of such borrowing at (in the time case of Dollar Loans) or its Foreign Currency Commitment Percentage (in the case of Foreign Currency Loans) of such drawing under borrowing, as applicable, to the relevant Reimbursement Obligation in lieu of funding such Letter of Creditamount to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)

Reimbursement Obligation of the Borrower. (a) The Borrower agrees to reimburse each the Issuing Lender on each date on which (it being understood that such reimbursement shall be effected by means of a borrowing of Loans unless the Managing Agents shall determine in their sole discretion that such Loans may not be made for such purpose as a result of a Default or Event of Default pursuant to Section 9(f)), upon receipt of notice from the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (ai) such draft so paid and (bii) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender Lender, at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. , on the date 25 32 on which the Borrower receives such notice, if received prior to 11:00 A.M., Dallas, Texas time, on a Business Day and otherwise on the next succeeding Business Day, (b) Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section 3.5, (i) from the date the draft presented under the affected Letter of Credit is paid to the applicable drawing date on which the Borrower is required to pay such amounts pursuant to paragraph (a) above at a rate per annum equal to the ABR plus the Applicable Margin and (ii) thereafter until payment in full at the rate set forth which would be payable on any Loans which were then overdue. Except as otherwise specified in (i) until the second Business Day following the date of the applicable drawingSection 3.5(a), Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing of Loans that are ABR Loans pursuant to Section 2.5 of Base Rate Loans 2.3 in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit payment of such drawing and the proceeds of such Loans could shall be made, pursuant to Section 2.5, if applied by the Administrative Agent had received a notice of such borrowing at to reimburse the time of such drawing Issuing Lender for the amounts paid under such Letter of Credit.. 3.6

Appears in 1 contract

Samples: Credit Agreement (Jones Intercable Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, within one Business Day (or two Business Days if the Borrower and the Administrative Agent are notified on each date after 11:00 a.m. New York City time on such date) after the Business Day on which such Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each notice from an Issuing Lender of a drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Northwestern Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.23 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: B&g Foods Inc

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs Other Taxes or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”), on the Business Day that the Borrower receives notice of such draft, if such notice is received on such day (or if the Borrower shall have received such notice later than 10:00 A.M. New York City time on such Business Day, on the immediately following Business Day). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b5.8(b) and (ii) thereafter, Section 2.13(c5.8(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause Section 10(g), (ih) or (ii) of Section 7(fi) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 4.4(a) for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.53.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Six Flags Entertainment Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which the next Business Day after such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event a Default of the type described in clause (i) or (ii) of Section 7(f8.1(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing, pursuant to Section 2.5, of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.5 2.7 of Base Rate Loans Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, pursuant to Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Local Insight Yellow Pages, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on the next Business Day after each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit issued for its account and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”"PAYMENT AMOUNT"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit issued for the Borrower's account shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (White Mountains Insurance Group LTD)

Reimbursement Obligation of the Borrower. The Borrower agrees Borrowers jointly and severally agree to reimburse each Issuing the L/C Lender on each date the Business Day next succeeding (or, if such notice is given later than 11:00 A.M., on the second Business Day next succeeding) the Business Day on which such Issuing the L/C Lender notifies the Borrower Borrowers of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Bank for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the L/C Lender or the Issuing Lender Bank in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment to be made by the Borrower shall be made to such Issuing the L/C Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrowers under this Section from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(g) shall have occurred and be continuing with respect to the either Borrower, in which case the procedures specified in Section 2.26 3.8 for funding by L/C Participants shall apply) constitute a request by the relevant Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.53.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the L/C Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (FGX International Holdings LTD)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.14(b) and (ii) thereafter, Section 2.13(c2.14(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Parker Drilling Co /De/)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each the Business Day following the date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing until payment in full (including pursuant to a borrowing as set forth in immediately succeeding sentence) at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c4.06(d). Each Unless the Borrower shall otherwise notify the Issuing Lender and the Administrative Agent, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9.01(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.07 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 4.01 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.54.01, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Roundy's, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each no later than three Business Days after the date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second third Business Day following notice to the date of the applicable drawingBorrower, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each Unless the Borrower shall otherwise notify the Issuing Lender and the Administrative Agent, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Jondex Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no or, with the consent of the Issuing Bank and the Administrative Agent on the following Business Day if such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Sectionnotification is received after 11:00 A.M.) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Worldspan L P)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on the next Business Day after each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft drawing presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft drawing so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.5, 2.5 if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, within one (1) Business Day (or two (2) Business Days if the Borrower and the Administrative Agent are notified on each date after 11:00 a.m. on such date) after the Business Day on which such Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender through the Administrative Agent in lawful money at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each notice from an Issuing Lender of a drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such 50 borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Northwestern Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing payment by the Issuing Lender until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawingpayment by the Issuing Lender, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Corrections Corp of America)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other reasonable costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Spanish Broadcasting System Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other reasonable costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Archstone Smith Operating Trust)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date (i) the Business Day on which the Borrower receives notice from an Issuing Lender of a draft drawn on a Letter of Credit issued by such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender Lender, if such notice is received on such Business Day prior to 10:00 A.M., Chicago, Illinois time, or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.3 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.3), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Pacific Gas & Electric Co)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on the next Business Day after each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such -------------- the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, made pursuant to Section 2.5, 2.5 if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b3.5(b) and (ii) thereafter, Section 2.13(c3.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such Section shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each no later than three Business Days after the date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second third Business Day following notice to the date of the applicable drawingBorrower, Section 2.13(b4.5(b) and (ii) thereafter, Section 2.13(c4.5(c). Each Unless the Borrower shall otherwise notify the Issuing Lender and the Administrative Agent, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.10 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 3.2 of Base Rate Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 3.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.53.2 or, if applicable, Section 3.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Roundy's Parent Company, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, no later than 1:00 p.m., New York City time, on each date the Business Day, if the Applicable Currency is Dollars, and on the third Business Day, if the Applicable Currency is euro, following the Business Day on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America Applicable Currency and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in of interest applicable during such period to Revolving Credit Loans that are (i) until if the second Applicable Currency is Dollars, Base Rate Loans or (ii) if the Applicable Currency is euro, Revolving Credit Euro Loans with Interest Periods of one month, plus, in each case, for the period from the third Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c)2% per annum. Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of (i) if the Applicable Currency is Dollars, Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) or (ii) if the Applicable Currency is euro, Revolving Credit Euro Loans with Interest Periods of one month, in each case in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of (i) if the Applicable Currency is Dollars, Base Rate Loans (or, if applicable, Swing Line Loans) or (ii) if the Applicable Currency is euro, Revolving Credit Euro Loans could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Tronox Inc

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in the amount their sole discretion, a borrowing pursuant to Section 2.7 of such drawingSwing Line Loans). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swing Line Loans) could be made, pursuant to Section 2.52.5 (or, if applicable, Section 2.7), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Extendicare Health Services Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (American Buildings Co /De/)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each any Issuing Lender on each date the Business Day next succeeding the Business Day on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxesTaxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the applicable Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate per annum applicable to ABR Loans set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(d). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (isubsection 9(c) or (ii) of Section 7(fh) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 4.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 subsection 2.2 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5subsection 2.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Henry Schein Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender through the Administrative Agent on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(bsubsection 3.4(b) and (ii) thereafter, Section 2.13(csubsection 3.4(e). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(fsubsection 10(g) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 subsection 5.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section subsection 2.5 of Base Rate ABR Loans in the amount of such drawingdrawing (and the minimum borrowing amount in such subsection shall not apply to such borrowing). The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section subsection 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Boston Scientific Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 2.25 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.12(b) and (ii) thereafter, Section 2.13(c2.12(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.25 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Revolving Credit Agreement (B&G Foods, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Beverly Enterprises Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in Section 2.13(c); provided that if the Issuing Lender does not notify the Borrower as provided for above earlier than 11:00 A.M. (iNew York City time) on the date such draft is paid, then for such day (and until the second next Business Day following Day) all amounts remaining unpaid in respect of such notice shall bear interest at the date of the applicable drawing, rate set forth in Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate ABR Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 1 contract

Samples: Credit Agreement (Panavision Inc)

Reimbursement Obligation of the Borrower. The If any draft is paid under any Letter of Credit, the Borrower agrees to shall, at its option, either (i) reimburse each the applicable Issuing Lender through the Administrative Agent if so requested by the Administrative Agent on each date the Business Day next succeeding the Business Day on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender or (but in any event no ii) (x) request an ABR Loan pursuant to Section 2.2 hereof (if otherwise permitted hereunder) to be made on the Business Day next succeeding the Business Day on which such reimbursement shall be required before Issuing Lender notifies the Borrower of the date on which Base Rate Loans would and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender and (y) direct that the proceeds of such ABR Loan be made (or applied to reimburse the procedure specified applicable Issuing Lender; in Section 2.26 would become applicable) as described in the last two sentences of this Section) each case for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or and expenses described in Section 3.3(b) incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such Issuing Lender or the Administrative Agent at (x) in the case of such Issuing Lender, its address for notices specified herein on Schedule 1.1E or such other address as such Issuing Lender shall notify to the Borrower and (y) in lawful money the case of the United States of America Administrative Agent, at the Funding Office, in each case in Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.11(b) and (iiy) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (AV Homes, Inc.)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date on which such Issuing Lender notifies the Borrower of the date and amount of a If any draft presented is paid under any Letter of Credit and paid by such Credit, the Borrower shall reimburse the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment payment, not later than 12:00 Noon, New York City time, on (i) the amounts described in Business Day that the foregoing clauses Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 A.M., New York City time, or (aii) and if clause (bi) in respect of any drawing, collectivelyabove does not apply, the “Payment Amount”)Business Day immediately following the day that the Borrower receives such notice. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money the currency in which such Letter of Credit is denominated (except that, in the United States case of America any Letter of Credit denominated in any Designated Foreign Currency, upon notice by the Issuing Lender to the Borrower, such payment shall be made in Dollars from and after the date on which the amount of such payment shall have been converted into Dollars at the Spot Rate of Exchange on such date of conversion, which date of conversion may be any Business Day after the Business Day on which such payment is due) and in immediately available funds. Any conversion by the Issuing Lender of any payment to be made in respect of any Letter of Credit denominated in any Designated Foreign Currency into Dollars in accordance with this Section 3.5 shall be conclusive and binding upon the other parties hereto in the absence of manifest error; provided that upon the request of the Borrower, the Issuing Lender shall provide to the Borrower a certificate including reasonably detailed information as to the calculation of such conversion. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (ix) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b2.12(b) and (iiy) thereafter, Section 2.13(c2.12(c). Each drawing under ; provided that if any Letter such amount is denominated in a Designated Foreign Currency for any period, such interest shall be payable at the rate charged by the Issuing Lender for reimbursement of Credit shall (unless an event overdue obligations in such Designated Foreign Currency owing by account parties with similar credit profiles to that of the type described in clause (i) or (ii) of Section 7(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Gartner Inc)

Reimbursement Obligation of the Borrower. If any draft or other form of demand shall be presented for payment under any Letter of Credit, the Issuing Lender shall promptly notify the Borrower of the date and amount thereof. The Borrower agrees to reimburse each the Issuing Lender on each within one Business Day of the date on which such the Issuing Lender notifies the Borrower and the Administrative Agent of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses subsections (a) and (b) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to the Administrative Agent at the Payment Office, for the account of the Issuing Lender, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Issuing Lender promptly upon receipt at its address for notices specified herein in lawful money of the United States of America and in immediately available fundslike funds as received. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second first Business Day following the date notice of the applicable drawingdrawing is received by the Borrower from the Issuing Lender, Section 2.13(b2.15(b) and (ii) thereafter, Section 2.13(c2.15(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause subsection (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing of Revolving Credit Loans that are Base Rate Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.5 2.7 of Base Rate Loans Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to the conditions set forth in Section 2.55.3 (other than Section 5.3(a)) are satisfied (or, if Swing Line Loans are then available, the Administrative Agent had received a notice of such borrowing at first date on which the time of conditions set forth in Section 2.7 are satisfied) after such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Wynn Resorts LTD)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date the Business Day next succeeding the Business Day on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified referred to herein in lawful money of the United States of America Dollars and in immediately available funds. Interest shall be payable on each Payment Amount any such amounts from the date of on which the applicable drawing relevant draft is paid until payment in full at the rate set forth in (i) until the second Business Day following next succeeding the date of the applicable drawingrelevant notice, Section 2.13(b3.5(b) and (ii) thereafter, Section 2.13(c3.5(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 2.8 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Business Sound Inc)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f9(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.2 of Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.52.2, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (U-Store-It Trust)

Reimbursement Obligation of the Borrower. The Borrower agrees to ---------------------------------------- reimburse each the Issuing Lender on each date on which such the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such the Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the “Payment Amount”)payment. Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount any and all amounts remaining unpaid by the Borrower under this Section from the date of the applicable drawing such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c2.14(c). Each Unless reimbursed pursuant to this Section 3.5, each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swing Line Lender in their sole discretion, a borrowing pursuant to Section 2.7 of Swing Line Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time of such drawing under such Letter of Creditdrawing.

Appears in 1 contract

Samples: Paragon Health Network Inc

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender on each date (i) the Business Day on which the Borrower receives notice from an Issuing Lender of a draft drawn on a Letter of Credit issued by such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender Lender, if such notice is received on such Business Day prior to 11:00 A.M., New York City time, or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.11(b) and (ii) thereafter, Section 2.13(c2.11(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.4 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.4), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Pg&e Corp)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each Issuing Lender Lender, on each date on which such Issuing Lender notifies the Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender (but in any event no such reimbursement shall be required before the date on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Lender, for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment (the amounts described in the foregoing clauses (a) and (b) in respect of any drawing, collectively, the "Payment Amount"). Each such payment by the Borrower of the Payment Amount shall be made to such Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b) and (ii) thereafter, Section 2.13(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 of Revolving Credit Loans as Base Rate Loans in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans could be made, pursuant to Section 2.5, if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the relevant Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Cinemark Usa Inc /Tx)

Reimbursement Obligation of the Borrower. The Borrower agrees to reimburse each the Issuing Lender on each date (i) the Business Day on which such the Borrower receives notice from the Issuing Lender notifies the Borrower of the date and amount of a draft presented under any drawn on a Letter of Credit issued by the Issuing Lender and paid by the Issuing Lender, if such Issuing Lender notice is received on such Business Day prior to 10:00 Xx.Xx. or (but in any event no such reimbursement shall be required before ii) if clause (i) above does not apply, the date Business Day immediately following the day on which Base Rate Loans would be made (or the procedure specified in Section 2.26 would become applicable) as described in the last two sentences of this Section) Borrower receives such notice, for the amount of (aA) such draft so paid and (bB) any taxes, fees, charges or other costs or expenses incurred by such the Issuing Lender in connection with such payment which are obligations of the Borrower hereunder (the amounts described in the foregoing clauses (aA) and (bB) in respect of any drawing, collectively, the “Payment Amount”). Each such payment shall be made to such the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on each Payment Amount from the date of the applicable drawing until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 2.13(b2.10(b) and (ii) thereafter, Section 2.13(c2.10(c). Each drawing under any Letter of Credit shall (unless an event of the type described in clause (i) or (ii) of Section 7(f8(f) shall have occurred and be continuing with respect to the Borrower, in which case the procedures specified in Section 2.26 3.4 for funding by L/C Participants shall apply) constitute a request by the Borrower to the Administrative Agent for a borrowing pursuant to Section 2.5 2.1 of Base Rate ABR Loans (or, at the option of the Administrative Agent and the Swingline Lender in their sole discretion, a borrowing pursuant to Section 2.3 of Swingline Loans) in the amount of such drawing. The Borrowing Date with respect to such borrowing shall be the first date on which a borrowing of Revolving Credit Loans (or, if applicable, Swingline Loans) could be made, pursuant to Section 2.52.1 (or, if applicable, Section 2.3), if the Administrative Agent had received a notice of such borrowing at the time the Administrative Agent receives notice from the Issuing Lender of such drawing under such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Fair Isaac Corp)

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