Common use of REIMBURSEMENT OF AMOUNTS DRAWN UNDER LETTER OF CREDIT Clause in Contracts

REIMBURSEMENT OF AMOUNTS DRAWN UNDER LETTER OF CREDIT. (a) On each date that Bank honors any A Drawing or B Drawing under the Letter of Credit, Borrower shall immediately reimburse Bank for the amount of such draw. (b) Borrower shall reimburse Bank for the amount of any C Drawing within 90 days after the date such C Drawing is honored (or, if sooner, on the Termination Date). In addition, Borrower shall pay to Bank interest on the unreimbursed amount of each C Drawing at a variable per annum rate equal to the Base Rate per annum plus 2.75% from the date such C Drawing is paid by Bank until the amount of such C Drawing is reimbursed in full to Bank. Such interest shall be payable in arrears on the first day of each month following such C Drawing and on the date that such C Drawing is reimbursed in full to Bank. (c) No interest shall be payable with respect to a C Drawing if Bank is reimbursed in full after such C Drawing is honored by 2:00 p.m. (Birmingham, Alabama time) on the same date that such C Drawing is paid by Bank. (d) All amounts received by Bank in respect of principal, premium or interest on Pledged Notes shall be credited first against interest payable on the unreimbursed amount of the C Drawing with respect to such Pledged Notes and the balance, if any, shall be credited against the amount of such C Drawing. (e) Anything herein to the contrary notwithstanding, Borrower will not reimburse Bank for any A Drawing, B Drawing, or C Drawing until the same has been honored in full by Bank, and no such reimbursement need be prepaid.

REIMBURSEMENT OF AMOUNTS DRAWN UNDER LETTER OF CREDIT. (a) On The Issuing Bank shall notify the Borrower and the Agent of each date that Bank honors any A Drawing or B Drawing request for a drawing under the a Letter of Credit, and the Borrower shall immediately reimburse the Issuing Bank for such amount in immediately available funds prior to 11:00 A.M., San Francisco time, on the date of the drawing. In the event that the Borrower shall fail to so reimburse the Issuing Bank, the Issuing Bank shall promptly notify the Agent who shall promptly notify each Lender. Prior to 1:00 P.M., San Francisco time, on the date of such notice, each Lender shall make a payment under its participation in such Letter of Credit (which, except as provided in Section 2.5((f))((iii)), shall constitute a Revolving Loan to the Borrower) in an amount equal to that Lender's ratable share of the unreimbursed amount of such draw. (b) drawing, by depositing immediately available funds in such amount to the account of the Agent set forth on the signature pages hereof. The Agent shall promptly pay to the Issuing Bank the proceeds of such Revolving Loans, which shall be used by the Issuing Bank to repay the unreimbursed amount. Such Revolving Loans shall be evidenced by the Revolving Notes and shall initially be Base Rate Loans. The obligation of each Lender to reimburse the Issuing Bank is absolute and unconditional and shall not be affected by the occurrence of an Event of Default or any other occurrence or event. Any such reimbursement shall not relieve or otherwise impair the obligation of the Borrower shall to reimburse the Issuing Bank for the amount of any C Drawing within 90 days after payment made by the date such C Drawing is honored (or, if sooner, on the Termination Date)Issuing Bank under any Letter of Credit as set forth herein. In addition, Borrower shall pay If any Lender fails to Bank interest on the unreimbursed amount of each C Drawing at a variable per annum rate equal make available to the Base Rate per annum plus 2.75% from the date such C Drawing is paid by Bank until Agent the amount of such C Drawing is reimbursed Lender's participation in full to Bank. Such interest such Letter of Credit as provided above, the Issuing Bank shall be payable entitled to recover such amount on demand from such Lender together with interest thereon, for each day from the date of notice to such Lender to the date such amount is paid to the Issuing Bank at rate which is at all times equal to three percent (3%) per annum in arrears excess of the Base Rate in effect from time to time; PROVIDED that if the failure to pay is solely the result of an administrative error (which determination shall be made by the Agent in its sole discretion), or is solely the result of the Lender receiving notice too late in the day to make payment to the Agent on that day, then the interest rate for the first day of each month following such C Drawing and on the date that such C Drawing is reimbursed in full to Bank. (c) No interest delay shall be payable with respect to a C Drawing if Bank is reimbursed in full after such C Drawing is honored by 2:00 p.m. (Birmingham, Alabama time) on the same date that such C Drawing is paid by BankFederal Funds Rate. (d) All amounts received by Bank in respect of principal, premium or interest on Pledged Notes shall be credited first against interest payable on the unreimbursed amount of the C Drawing with respect to such Pledged Notes and the balance, if any, shall be credited against the amount of such C Drawing. (e) Anything herein to the contrary notwithstanding, Borrower will not reimburse Bank for any A Drawing, B Drawing, or C Drawing until the same has been honored in full by Bank, and no such reimbursement need be prepaid.

REIMBURSEMENT OF AMOUNTS DRAWN UNDER LETTER OF CREDIT. (a) On each date The ----------------------------------------------------- Issuing Bank shall notify the Borrowers and the Agent of a request for a drawing under a Letter of Credit promptly after receipt thereof by the Issuing Bank; provided, however, that the failure to so notify the Borrowers will not relieve -------- ------- the Borrowers from any obligation to reimburse the Issuing Bank honors any A Drawing or B Drawing under hereunder, and the Borrower for whose account the Letter of CreditCredit was issued shall reimburse the Issuing Bank for sum amount in immediately available funds prior to 3:00 P.M., New York time, on the date of the drawing. In the event that the applicable Borrower shall immediately fail to so reimburse the Issuing Bank, the Issuing Bank for shall promptly notify the Agent who shall promptly notify each Lender. The Agent shall pay to the Issuing Bank the amount of the unpaid Letter of Credit and, thereafter, the Borrower for whose account the Letter of Credit was issued and the Lenders shall be obligated to reimburse the Agent in respect of such draw. Letter of Credit prior to 3;00 P.M., New York time, on the date of any such notice, each Lender shall make a payment under its participation in such Letter of Credit (bwhich, except as provided in Section 2.5(f)(iii), shall constitute a Revolving Loan to the Borrower for whose account the Letter of Credit was issued) in an amount equal to that Lender's ratable share of the unreimbursed amount of such drawing, by depositing immediately available funds in such amount in the account of the Agent set forth on the signature pages hereof. The Agent shall promptly pay to the Issuing Bank the proceeds of such Revolving Loans, which shall be used by the Issuing Bank to repay the unreimbursed amount. Such Revolving Loans shall be evidenced by the Revolving Notes and shall initially be Base Rate Loans. The obligation of each Lender to reimburse the Issuing Bank is absolute and unconditional and shall not be affected by the occurrence of an Event of Default or any other occurrence or event. Any such reimbursement shall not relieve or otherwise impair the obligation of the Borrower shall for whose account the Letter of Credit was issued to reimburse the Issuing Bank for the amount of any C Drawing within 90 days after payment made by the date Issuing Bank under such C Drawing is honored (or, if sooner, on the Termination Date)Letter of Credit as set forth herein. In addition, Borrower shall pay If any Lender fails to Bank interest on the unreimbursed amount of each C Drawing at a variable per annum rate equal make available to the Base Rate per annum plus 2.75% from the date such C Drawing is paid by Bank until Agent the amount of such C Drawing is reimbursed Lender's participation in full to Bank. Such interest such Letter of Credit as provided above, the Issuing Bank shall be payable entitled to recover such amount on demand from such Lender together with interest thereon, for each day from the date of notice to such Lender to the date such amount is paid to the Issuing Bank at a rate which is at all times equal to three percent (3%) per annum in arrears excess of the Base Rate in effect from time to time; provided that if the failure to pay is solely the result of an administrative error (which determination shall be made by the Agent in its sole discretion) or is solely the result of the Lender receiving notice too late in the day to make payment to the Agent on that day, then the interest rate for the first day of each month following such C Drawing and on the date that such C Drawing is reimbursed in full to Bank. (c) No interest delay shall be payable with respect to a C Drawing if Bank is reimbursed in full after such C Drawing is honored by 2:00 p.m. (Birmingham, Alabama time) on the same date that such C Drawing is paid by BankFederal Funds Rate. (d) All amounts received by Bank in respect of principal, premium or interest on Pledged Notes shall be credited first against interest payable on the unreimbursed amount of the C Drawing with respect to such Pledged Notes and the balance, if any, shall be credited against the amount of such C Drawing. (e) Anything herein to the contrary notwithstanding, Borrower will not reimburse Bank for any A Drawing, B Drawing, or C Drawing until the same has been honored in full by Bank, and no such reimbursement need be prepaid.

REIMBURSEMENT OF AMOUNTS DRAWN UNDER LETTER OF CREDIT. (a) On The ------------------------------------------------------ Issuing Bank shall notify the Borrower and the Agent of each date that Bank honors any A Drawing or B Drawing request for a drawing under the a Letter of Credit, and the Borrower shall immediately reimburse the Issuing Bank for such amount in immediately available funds prior to 11:00 A.M., San Francisco time, on the date of the drawing. In the event that the Borrower shall fail to so reimburse the Issuing Bank, the Issuing Bank shall promptly notify the Agent who shall promptly notify each Lender. Prior to 2:00 P.M., San Francisco time, on the date of such notice, each Lender shall make a payment under its participation in such Letter of Credit (which, except as provided in Section 2.5(f)(ii), shall constitute a Revolving Loan to the Borrower) in an amount equal to that Lender's ratable share of the unreimbursed amount of such draw. (b) drawing, by depositing immediately available funds in such amount to the account of the Agent set forth on the signature pages hereof. The Agent shall promptly pay to the Issuing Bank the proceeds of such Revolving Loans, which shall be used by the Issuing Bank to repay the unreimbursed amount. Such Revolving Loans shall be evidenced by the Revolving Notes and shall initially be Base Rate Loans. The obligation of each Lender to reimburse the Issuing Bank is absolute and unconditional and shall not be affected by the occurrence of an Event of Default or any other occurrence or event. Any such reimbursement shall not relieve or otherwise impair the obligation of the Borrower shall to reimburse the Issuing Bank for the amount of any C Drawing within 90 days after payment made by the date such C Drawing is honored (or, if sooner, on the Termination Date)Issuing Bank under any Letter of Credit as set forth herein. In addition, Borrower shall pay If any Lender fails to Bank interest on the unreimbursed amount of each C Drawing at a variable per annum rate equal make available to the Base Rate per annum plus 2.75% from the date such C Drawing is paid by Bank until Agent the amount of such C Drawing is reimbursed Lender's participation in full to Bank. Such interest such Letter of Credit as provided above, the Issuing Bank shall be payable in arrears entitled to recover such amount on the first demand from such Lender together with interest thereon, for each day of each month following such C Drawing and on from the date that of notice to such C Drawing is reimbursed in full Lender to Bank. (c) No interest shall be payable with respect to a C Drawing if Bank is reimbursed in full after the date such C Drawing is honored by 2:00 p.m. (Birmingham, Alabama time) on the same date that such C Drawing amount is paid by Bank. (d) All amounts received by Bank in respect of principal, premium or interest on Pledged Notes shall be credited first against interest payable on the unreimbursed amount of the C Drawing with respect to such Pledged Notes and the balance, if any, shall be credited against the amount of such C Drawing. (e) Anything herein to the contrary notwithstanding, Borrower will not reimburse Issuing Bank for any A Drawing, B Drawing, or C Drawing until the same has been honored in full by Bank, and no such reimbursement need be prepaidat rate which is at all times equal to Federal Funds Rate.