Common use of Reimbursement of Certain Costs Clause in Contracts

Reimbursement of Certain Costs. (i) The obligations of Borrower hereunder with regard to Letters of Credit are absolute and unconditional under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which Borrower may have against any Person, including, without limitation, the beneficiary of such Letter of Credit and the L/C Issuer, and all sums payable by Borrower hereunder with respect to any such Letter of Credit, whether of principal, interest, fees, expenses or otherwise, shall be paid in full, without any deduction or withholding whatsoever. In the event that Borrower is compelled by applicable law to make any such deduction or withholding, then, unless prohibited by applicable law, they shall pay the L/C Issuer such additional amount as will result in the receipt by the L/C Issuer of a net sum equal to the sum it would have received if no such deduction or withholding had been required to be made.

Reimbursement of Certain Costs. (i) The respective obligations of Borrower Borrowers hereunder with regard to Letters of Credit are absolute and unconditional under any and all circumstances and irrespective of any set-off, counterclaim or defense to payment which the applicable Borrower may have against any Person, including, without limitation, the beneficiary of such Letter of Credit and the such L/C Issuer, and all sums payable by a Borrower hereunder with respect to any such Letter of Credit, whether of principal, interest, fees, expenses or otherwise, shall be paid in full, without any deduction or withholding whatsoever. In the event that Borrower is either of Borrowers are compelled by any applicable law to make any such deduction or withholding, then, unless prohibited by applicable law, they the applicable Borrower shall pay the applicable L/C Issuer such additional amount as will result in the receipt by the such L/C Issuer of a net sum equal to the sum it would have received if no such deduction or withholding had been required to be made.