Common use of Reimbursement Obligations of the Borrower Clause in Contracts

Reimbursement Obligations of the Borrower. The BORROWER unconditionally and irrevocably agrees to reimburse the ADMINISTRATIVE AGENT on each date on which the ADMINISTRATIVE AGENT notifies the BORROWER of the date and amount of a draft paid under any LETTER OF CREDIT for the amount of such draft so paid and any taxes, charges, or other costs or expenses incurred by the ADMINISTRATIVE AGENT in connection with such payment. If any draft under a LETTER OF CREDIT is payable in a currency other than U.S. dollars, the BORROWER shall reimburse the ADMINISTRATIVE AGENT for such draft by paying to the ADMINISTRATIVE AGENT the equivalent in U.S. dollars of the amount required to purchase the currency from the ADMINISTRATIVE AGENT at the ADMINISTRATIVE AGENT’S current selling rate of exchange in Buffalo, New York for cable transfers to the place of payment in the currency and amount in which such draft was drawn (or if there is no current selling rate of exchange generally offered by the ADMINISTRATIVE AGENT for effecting such cable transfers, the amount of U.S. dollars required to be paid shall be based on such rate as the ADMINISTRATIVE AGENT shall determine in good faith for such purpose). Interest shall be payable on any and all amounts remaining unpaid by the BORROWER under this Section from the date such amounts become payable (whether at stated maturity, by acceleration, or otherwise) until payment in full at the BASE RATE. Each drawing under any LETTER OF CREDIT shall be deemed to automatically constitute a request by the BORROWER to the ADMINISTRATIVE AGENT for a BASE RATE BORROWING under the LOANS in the amount of such drawing to be made on the date on which the ADMINISTRATIVE AGENT notifies the BORROWER of the drawing, and the proceeds of such BASE RATE BORROWING shall be applied automatically by the LENDER to satisfy the BORROWER’S reimbursement obligations set forth in this Section.

Reimbursement Obligations of the Borrower. The BORROWER unconditionally and irrevocably In the event of any drawing under any Syndicated Letter of Credit, the Borrower agrees to reimburse reimburse, in same day funds, the ADMINISTRATIVE AGENT applicable Issuing Lenders on each date on which the ADMINISTRATIVE AGENT Administrative Agent notifies the BORROWER Borrower of the date and amount of a draft paid under any LETTER OF CREDIT Syndicated Letter of Credit for the CHL:40759.7 amount of (a) such draft so paid and plus (b) any taxes, charges, or other costs or expenses amounts referred to in Section 3.4(c) incurred by the ADMINISTRATIVE AGENT applicable Issuing Lenders in connection with such payment. If any draft under a LETTER OF CREDIT is payable in a currency Unless the Borrower shall immediately notify the Administrative Agent that the Borrower intends to reimburse the Issuing Lenders for such drawing from other than U.S. dollarssources or funds, the BORROWER Borrower shall reimburse the ADMINISTRATIVE AGENT for such draft by paying be deemed to have timely given a Notice of Borrowing to the ADMINISTRATIVE AGENT Administrative Agent requesting that the equivalent in U.S. dollars of the amount required to purchase the currency from the ADMINISTRATIVE AGENT Lenders make a Revolving Credit Loan bearing interest at the ADMINISTRATIVE AGENT’S current selling rate of exchange Base Rate on such date in Buffalo, New York for cable transfers to the place of payment in the currency and amount in which such draft was drawn (or if there is no current selling rate of exchange generally offered by the ADMINISTRATIVE AGENT for effecting such cable transfers, the amount of U.S. dollars required (a) such draft so paid plus (b) any amounts referred to be paid in Section 3.4(c) incurred by the Issuing Lenders in connection with such payment, and the Lenders shall make a Revolving Credit Loan bearing interest at the Base Rate in such amount, the proceeds of which shall be based on applied to reimburse the Issuing Lenders for the amount of the related drawing and costs and expenses. If the Borrower fail to reimburse the Issuing Lender(s) as provided above, the unreimbursed amount of such drawing shall bear interest at the rate as the ADMINISTRATIVE AGENT shall determine in good faith for such purpose). Interest shall which would be payable on any and all amounts remaining unpaid by the BORROWER under this Section outstanding Base Rate Loans which were then overdue from the date such amounts become payable (whether at stated maturity, by acceleration, acceleration or otherwise) until payment in full at the BASE RATE. Each drawing under any LETTER OF CREDIT shall be deemed to automatically constitute a request by the BORROWER to the ADMINISTRATIVE AGENT for a BASE RATE BORROWING under the LOANS in the amount of such drawing to be made on the date on which the ADMINISTRATIVE AGENT notifies the BORROWER of the drawing, and the proceeds of such BASE RATE BORROWING shall be applied automatically by the LENDER to satisfy the BORROWER’S reimbursement obligations set forth in this Sectionfull.

Reimbursement Obligations of the Borrower. (a) The BORROWER unconditionally and irrevocably Borrower agrees to reimburse the ADMINISTRATIVE AGENT Issuing Bank at the Payment Office on demand on each date on which the ADMINISTRATIVE AGENT Issuing Bank notifies the BORROWER Borrower of the date and amount of a draft paid presented or other payment demanded under any LETTER OF CREDIT Letter of Credit (including any Existing Letter of Credit) and paid by the Issuing Bank for the amount of (i) such draft so paid or payment so made and (ii) any taxes, chargesreasonable fees, charges or other costs or expenses incurred by the ADMINISTRATIVE AGENT Issuing Bank in connection with such payment. If any draft under a LETTER OF CREDIT is payable in a currency other than U.S. dollars, the BORROWER Each such payment shall reimburse the ADMINISTRATIVE AGENT for such draft by paying be made to the ADMINISTRATIVE AGENT Issuing Bank at its address for notices specified herein in the equivalent relevant currency and in U.S. dollars immediately available funds. If the Borrower fails to make such payment when due in respect of the amount required to purchase the currency a Foreign Currency Letter of Credit then, upon notice from the ADMINISTRATIVE AGENT at the ADMINISTRATIVE AGENT’S current selling rate of exchange in Buffalo, New York for cable transfers Issuing Bank to the place of payment in Borrower and the currency and amount in which such draft was drawn (or if there is no current selling rate of exchange generally offered by the ADMINISTRATIVE AGENT for effecting such cable transfersAdministrative Agent, the amount payable shall without further action be converted into an obligation denominated in Dollars at the applicable Exchange Rate on the date of U.S. dollars required to be paid shall be based on such rate conversion, as the ADMINISTRATIVE AGENT shall determine in good faith for such purpose). Interest shall be payable on any and all amounts remaining unpaid determined by the BORROWER under this Section Issuing Bank in accordance with the terms hereof, and the Issuing Bank shall notify the Administrative Agent and each Lender of the applicable L/C Reimbursement Obligation, the payment then due from the date Borrower in respect thereof and such amounts become payable (whether at stated maturity, by acceleration, or otherwise) until payment in full at the BASE RATELender's Commitment Percentage thereof. Each drawing or other payment under any LETTER OF CREDIT Letter of Credit issued in Dollars shall be deemed to automatically constitute a request by the BORROWER Borrower to the ADMINISTRATIVE AGENT Administrative Agent for a BASE RATE BORROWING under the LOANS borrowing pursuant to subsection 2.1 of a Base Rate Loan in the amount of such drawing or payment. The Borrowing Date with respect to such borrowing shall be made on the date on which the ADMINISTRATIVE AGENT notifies the BORROWER of the drawing, and the proceeds of such BASE RATE BORROWING shall be applied automatically by drawing or other payment if such drawing or payment is made prior to 10:00 A.M. on such date and otherwise the LENDER to satisfy first Business Day following the BORROWER’S reimbursement obligations set forth in this Sectiondate of such drawing or payment.