Common use of Reimbursement of Drawings Clause in Contracts

Reimbursement of Drawings. In the event of any request for drawing under any Letter of Credit by the beneficiary thereof, the Facing Agent shall notify the Borrower, the Agent and the Revolving Lenders prior to the date on which the Facing Agent intends to honor such drawing, and the Borrower shall reimburse the Facing Agent on the day on which such drawing is honored in an amount in same day funds equal to the amount of such drawing, provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Borrower shall have notified the Facing Agent and the Agent prior to 1:00 p.m. (New York City time) one Business Day prior to such drawing that the Borrower intends to reimburse the Facing Agent for the amount of such drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have timely given a Notice of Borrowing to the Agent requesting the Revolving Lenders to make a Prime Rate Revolving Loan on the date on which such drawing is honored in an amount equal to the amount of such drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section 6.2, the Revolving Lenders shall, on the date of such drawing, make a Prime Rate Revolving Loan in the amount of such drawing, the proceeds of which shall be made available to the Facing Agent by the Agent and applied directly by the Facing Agent for the amount of such drawing; and provided further, that, if for any reason, proceeds of Revolving Loans are not received by the Facing Agent on such date in an amount equal to the amount of such drawing, the Borrower shall reimburse the Facing Agent, on the Business Day immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 2.12(f)(iii).

Reimbursement of Drawings. In The Issuer agrees to repay to the event Bank all amounts (i) The Issuer shall pay to the Bank, without any requirement of notice or demand by the Bank, an amount equal to the Principal Purchase Drawing together with any accrued unpaid interest thereon. (A) on the earliest to occur of (1) an Early Expiration Date, (2) the Maturity Date, (3) an Event of Default hereunder and (4) the remarketing, acceleration, prepayment, redemption, defeasance or other payment of the Bank Bonds purchased pursuant to such Principal Purchase Drawing, and (B) during a Term Amortization, upon the occurrence of an Amortization End Date. (ii) The Issuer may prepay the amount of a Principal Purchase Drawing at any time in Authorized Denominations. The Issuer shall prepay amounts owed under this Section 2.01(a) upon any remarketing of Bank Bonds in amounts equal to the principal amount of the Bank Bonds remarketed. (iii) Upon delivery to the Bank of any request for drawing under any Letter such payment or prepayment, the Bank shall apply such payment as provided in Section 2.08. To the extent of Credit the principal payments actually received by the beneficiary thereofBank in connection with the Bank Bonds and applied to principal under Section 2.08, the Facing Agent such principal payments shall notify the Borrower, the Agent and the Revolving Lenders prior be credited to the date payment of principal owed on which the Facing Agent intends to honor such drawingcorresponding Principal Purchase Drawing, and the Borrower Bank shall reimburse the Facing Agent on the day on which such drawing is honored in an cause to be released a principal amount in same day funds of Bank Bonds, if any, equal to the amount of the principal of the Principal Purchase Drawing repaid under this Section 2.01; provided, however, that if the prepayment is less than the minimum Authorized Denomination, Bank Bonds shall be released only at such drawingtime as prepayments accumulate to the minimum Authorized Denomination then available, and provided further that, anything contained in this Agreement prior to any release of Bank Bonds, the Issuer shall have paid to the contrary notwithstanding, (i) unless Bank any Differential Interest Amount and Excess Interest Amount owing in respect of the Borrower shall have notified the Facing Agent and the Agent prior Principal Purchase Drawing pursuant to 1:00 p.m. (New York City time) one Business Day prior to such drawing that the Borrower intends to reimburse the Facing Agent for the amount of such drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have timely given a Notice of Borrowing to the Agent requesting the Revolving Lenders to make a Prime Rate Revolving Loan on the date on which such drawing is honored in an amount equal to the amount of such drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section 6.2, the Revolving Lenders shall, on the date of such drawing, make a Prime Rate Revolving Loan in the amount of such drawing, the proceeds of which shall be made available to the Facing Agent by the Agent and applied directly by the Facing Agent for the amount of such drawing; and provided further, that, if for any reason, proceeds of Revolving Loans are not received by the Facing Agent on such date in an amount equal to the amount of such drawing, the Borrower shall reimburse the Facing Agent, on the Business Day immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 2.12(f)(iii)Bank Bonds were purchased.

Reimbursement of Drawings. In the event of any request for drawing under any Letter of Credit by the beneficiary thereof, the Facing Agent shall notify the Borrower, the Agent and the Revolving Lenders prior to the date on which the Facing Agent intends to honor such drawing, and the Borrower shall reimburse the Facing Agent on the day on which such drawing is honored in an amount in same day funds equal to the amount of such drawing, provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Borrower shall have notified the Facing Agent and the Agent prior to 1:00 p.m. (New York City time) one Business Day prior to such drawing that the Borrower intends to reimburse the Facing Agent for the amount of such drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have timely given a Notice of Borrowing to the Agent requesting the Revolving Lenders to make a Prime Rate Revolving Loan on the date on which such drawing is honored in an amount equal to the amount of such drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section SECTION 6.2, the Revolving Lenders shall, on the date of such drawing, make a Prime Rate Revolving Loan in the amount of such drawing, the proceeds of which shall be made available to the Facing Agent by the Agent and applied directly by the Facing Agent for the amount of such drawing; and provided furtherPROVIDED FURTHER, that, if for any reason, proceeds of Revolving Loans are not received by the Facing Agent on such date in an amount equal to the amount of such drawing, the Borrower shall reimburse the Facing Agent, on the Business Day immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section SECTION 2.12(f)(iii).

Reimbursement of Drawings. In Upon receipt from the event beneficiary of any request Letter of Credit of any notice of a drawing under such Letter of Credit, the Issuing Bank shall notify the Administrative Agent and the Adminis-trative Agent shall promptly notify the Borrower and each other Lender as to the amount to be paid as a result of such demand or drawing and the payment date. The Borrower shall be irrevocably and unconditionally obligated to reimburse the Issuing Bank on such payment date for any amounts paid by the Issuing Bank upon any drawing under any Letter of Credit Credit, without presentment, demand, protest or other formalities of any kind. All such amounts paid by the beneficiary thereof, the Facing Agent shall notify the Borrower, the Agent Issuing Bank and the Revolving Lenders prior to the date on which the Facing Agent intends to honor such drawing, and remaining unpaid by the Borrower shall reimburse bear interest, payable on demand, for each day from the Facing Agent on date of payment by the day on which such drawing is honored Issuing Bank until paid in an amount full by the Obligors at the rate per annum specified in same day funds equal Section 2.5.5 for the relevant currency. In addition, each Lender will pay to the amount of such drawingAdministrative Agent, provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Borrower shall have notified the Facing Agent and the Agent prior to 1:00 p.m. (New York City time) one Business Day prior to such drawing that the Borrower intends to reimburse the Facing Agent for the amount account of such drawing with funds other than the proceeds of Revolving LoansIssuing Bank, immediately upon the Borrower shall be deemed to have timely given a Notice of Borrowing to Issuing Bank's demand at any time during the Agent requesting the Revolving Lenders to make a Prime Rate Revolving Loan on period from the date on which such drawing is honored of payment by the Issuing Bank until reimbursement therefor in full by the Obligors, an amount equal to the amount of such drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section 6.2, the Revolving Lenders shall, on the date of such drawing, make a Prime Rate Revolving Loan in the amount of such drawing, the proceeds of which shall be made available to the Facing Agent by the Agent and applied directly by the Facing Agent for the amount of such drawing; and provided further, that, if for any reason, proceeds of Revolving Loans are not received by the Facing Agent on such date in an amount equal to the amount of such drawing, the Borrower shall reimburse the Facing Agent, on the Business Day immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount Lender's ratable share of such drawing over the amount of such Revolving Loans(in proportion to its participation therein), if any, which are so received, plus accrued together with interest on such amount for each day from the date of the Issuing Bank's demand for such payment (or, if such demand is made less than two hours prior to the funding deadline for the relevant currency on such date specified pursuant to Section 2.5.7, from the next succeeding Business Day) to the date of payment by such Lender of such amount at the applicable rate set forth per annum specified in Section 2.12(f)(iii)2.