Reimbursement Obligations of the Lenders. On the same day that it receives the notice described in clause (e) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii)). By making such payment (other than during the continuation of an Event of Default under Section 9.1), such Lender shall be deemed to have made a Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the related L/C Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay to the Administrative Agent, for the benefit of such Lender, all amounts received by such L/C Issuer (or to the extent such amount shall have been received by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 2 contracts
Samples: Credit Agreement (Hill International, Inc.), Credit Agreement (Hill International, Inc.)
Reimbursement Obligations of the Lenders. On the same day that it receives Upon receipt of the notice described in clause (e) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii))Obligation. By making such payment (other than during the continuation of an Event of Default under Section 9.19.1(e)), such Lender shall be deemed to have made a Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the L/C Obligation in respect of the related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay over to the Administrative Agent, for the benefit of such Lender, Lender all amounts payments received by such L/C Issuer (or with respect to the extent such amount shall have been received by the Administrative Agent for the benefit portion of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portionReimbursement Obligation.
Appears in 2 contracts
Samples: Credit Agreement (Francesca's Holdings CORP), Credit Agreement (Francesca's Holdings CORP)
Reimbursement Obligations of the Lenders. On the same day that it receives (A) Upon receipt of the notice described in clause (ev) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share Commitment Percentage of such L/C Reimbursement Obligation in Euro Letter of Credit Obligations (as such amount may be increased pursuant to Section 2.2(c)(ii1.11(e)(ii)). .
(B) By making such payment any payments described in clause (A) above (other than during the continuation of an Event of Default under Section 9.17.1(f) or 7.1(g)), such Lender shall be deemed to have made a Revolving Loan to the Applicable Borrower, which, upon receipt thereof by the Administrative Agent, Agent for the benefit of such L/C Issuer, the such Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Revolving Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the Letter of Credit Obligation in respect of the related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (fvi) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay to the Administrative Agent, for the benefit of such Lender, all amounts received by such L/C Issuer (or to the extent such amount amounts shall have been received by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Real Industry, Inc.), Revolving Credit Agreement (Signature Group Holdings, Inc.)
Reimbursement Obligations of the Lenders. On the same day that it receives Upon receipt of the notice described in clause (ev) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share Commitment Percentage of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii))Obligation. By making such payment (other than during the continuation of an Event of Default under Section 9.1subsection 8.1(f) or 8.1(g)), such Lender shall be deemed to have made a Revolving Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Revolving Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following Upon receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (fvi) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay over to the Administrative Agent, for the benefit of such Lender, Lender all amounts payments received by such L/C Issuer (or to the extent after such amount shall have been received payment by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 1 contract
Samples: Credit Agreement (Ute Energy Upstream Holdings LLC)
Reimbursement Obligations of the Lenders. On the same day that it receives the notice described in clause (e) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii)). By making such payment (other than during the continuation of an Event of Default under Section 9.1), such Lender shall be deemed to have made a Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the related L/C Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay to the Administrative Agent, for the benefit of such Lender, all amounts received by such L/C Issuer (or to the extent such amount shall have been received by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 1 contract
Reimbursement Obligations of the Lenders. On the same day that it receives Upon receipt of the notice described in clause (e) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii))Obligation. By making such payment (other than during the continuation of an Event of Default under Section 9.19.1(e)), such Lender shall be deemed to have made a Revolving Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Revolving Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the related L/C Obligations. Such participation shall not otherwise be required to be funded. Following Upon receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay over to the Administrative Agent, for the benefit of such Lender, Lender all amounts payments received after such payment by such L/C Issuer (or to the extent such amount shall have been received by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 1 contract
Reimbursement Obligations of the Lenders. On the same day that it receives Upon receipt of the notice described in clause (e) above from the Administrative Agent, each Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share Ratable Portion of such L/C Reimbursement Obligation in Euro (as such amount may be increased pursuant to Section 2.2(c)(ii))Obligation. By making such payment (other than during the continuation of an Event of Default under Section 9.1), such Lender shall be deemed to have made a Loan to the Borrower, which, upon receipt thereof by the Administrative Agent, for the benefit of such L/C Issuer, the Borrower shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Loan pursuant to the foregoing sentence shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following Upon receipt by any L/C Issuer of any payment from any Lender pursuant to this clause (f) with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay over to the Administrative Agent, for the benefit of such Lender, Lender all amounts payments received by such L/C Issuer (or to the extent after such amount shall have been received payment by the Administrative Agent for the benefit of such L/C Issuer, the Administrative Agent shall promptly pay to such Lender all amounts received by the Administrative Agent for the benefit of such L/C Issuer) with respect to such portion.
Appears in 1 contract
Samples: Senior Secured Debtor in Possession Credit Agreement