Common use of REIMBURSEMENT OBLIGATIONS OF BANKS Clause in Contracts

REIMBURSEMENT OBLIGATIONS OF BANKS. Each Bank severally agrees that it shall be absolutely liable, without regard to the occurrence of any Default or Event of Default or any other condition precedent whatsoever, to the extent of such Bank's Commitment Percentage of all Letters of Credit issued, extended or renewed and all Unpaid Reimbursement Obligations, to reimburse the Administrative Agent on demand for the amount of each draft paid by the Administrative Agent under each Letter of Credit to the extent that such amount is not reimbursed by the Borrower pursuant to Section 5.2 below (such agreement for a Bank being called herein the "Letter of Credit Participation" of such Bank).

REIMBURSEMENT OBLIGATIONS OF BANKS. Each Bank severally agrees that it shall be absolutely liable, without regard to the occurrence of any Default or Event of Default or any other condition precedent whatsoever, to the extent of such Bank's Commitment Percentage of all Letters of Credit issued, extended or renewed and all Unpaid Reimbursement Obligations, to reimburse the Administrative Managing Agent on demand for the amount of each draft paid by the Administrative Managing Agent under each Letter of Credit to the extent that such amount is not reimbursed by the Borrower pursuant to Section 5.2 below (such agreement for a Bank being called herein the "Letter of Credit Participation" of such Bank).. 5.1.5

REIMBURSEMENT OBLIGATIONS OF BANKS. Each Bank severally agrees ------------- ----------- -- ----- that it shall be absolutely liable, without regard to the occurrence of any Default or Event of Default or any other condition precedent whatsoever, to the extent of such Bank's Commitment Percentage of all Letters of Credit issued, extended or renewed and all Unpaid Reimbursement ObligationsPercentage, to reimburse the Administrative Agent on demand for the amount of each draft paid by the Administrative Agent under each Letter of Credit to the extent that such amount is not reimbursed by the Borrower Company or the relevant Commerce Subsidiary pursuant to Section 5.2 below (S)2A.2 (such agreement for a Bank being called herein the "Letter of Credit Participation" of such Bank).