Reimbursement on Demand. Subject to the provisions of Section 2.04(d) hereof, the Borrower hereby agrees to pay (whether with the proceeds of Loans made pursuant to this Agreement or otherwise) to the applicable LC Bank on demand (i) on and after each date on which such LC Bank shall pay any amount under any Letter of Credit issued by such LC Bank a sum equal to such amount so paid (which sum shall constitute a demand loan from such LC Bank to the Borrower from the date of such payment by such LC Bank until so paid by the Borrower), plus (ii) interest on any amount remaining unpaid by the Borrower to such LC Bank under clause (i), above, from the date such sum becomes payable on demand until payment in full, at a rate per annum which is equal to 2% plus the then applicable Alternate Base Rate until paid in full.
Reimbursement on Demand. Subject to the provisions of Section 3.02 hereof, the Account Party hereby agrees to pay (whether with the proceeds of Initial Advances made pursuant to this Agreement or otherwise) to the Issuing Bank on demand (a) on and after each date on which the Issuing Bank shall pay any amount under the Letter of Credit pursuant to any draft, but only after so paid by the Issuing Bank, a sum equal to such amount so paid (which sum shall constitute a demand loan from the Issuing Bank to the Account Party from the date of such payment by the Issuing Bank until so paid by the Account Party), plus (b) interest on any amount remaining unpaid by the Account Party to the Issuing Bank under clause (a), above, from the date such amount becomes payable on demand until payment in full, at the Default Rate in effect from time to time. No reinstatement of the Interest Component or the Principal Component despite the failure by the Account Party to reimburse the Issuing Bank for any previous drawing to pay interest on the Bonds shall limit or impair the Account Party's obligations under this Section 3.01.
Reimbursement on Demand. On (or promptly after) each Disbursement Date, the Issuing Lender shall notify the Borrower of a drawing under a Letter of Credit, and the Issuing Lender will promptly thereafter furnish to the Borrower copies of (i) each draft drawn under such Letter of Credit and (ii) each certificate and each other document (if any) accompanying any such draft. The Borrower will, as reimbursement for such payment by the Issuing Lender either (i) immediately and unconditionally repay the amount drawn under a Letter of Credit to the Issuing Lender, or (ii) if the Borrower does not effect such repayment by 5:00 p.m., New York time, on the Disbursement Date, the amount drawn under such Letter of Credit shall automatically convert into a Revolving Loan (without regard to the minimum prior notice provisions of Section 2.01(d) and the Minimum Borrowing Amount) on the following day, provided that no Default or Event of Default shall have occurred and be continuing as of the Disbursement Date. If, however, a Default or an Event of Default shall have occurred and be continuing as of the Disbursement Date, the amount drawn under such Letter of Credit shall not convert into a Revolving Loan and, instead, shall be immediately due and payable hereunder, as of the Disbursement Date.
Reimbursement on Demand. Subject to the provisions of subsections (b), (c) and (e), below, the Company hereby agrees to pay (whether with the proceeds of Advances made pursuant to subsection (c), below, or otherwise) to the Funding Bank on demand (i) on and after each date on which the Funding Bank shall pay any amount under a Letter of Credit pursuant to any draft, but only after so paid by the Funding Bank, a sum equal to such amount so paid (which sum shall constitute a demand loan from the Funding Bank to the Company from the date of such payment by the Funding Bank until so paid by the Company), plus (ii) if the Company does not pay the Funding Bank such sum in full by 1:00 p.m., New York City time, on the same Business Day on which the Funding Bank shall have made such payment, interest on any amount remaining unpaid by the Company to the Funding Bank under clause (i) above, from the date on which the Funding Bank shall have paid such amount under such Letter of Credit until payment in full, at an interest rate per annum equal to the Alternate Base Rate in effect from time to time.
Reimbursement on Demand. Except as otherwise specified in Section 2.05 (and provided that the conditions precedent specified therein have been fulfilled), each amount paid by the Fronting Bank under the Letter of Credit (including, without limitation, amounts in respect of any reinstatement of interest on the Bonds at the election of the Banks notwithstanding any failure by the Company to reimburse the Banks for any previous drawing to pay interest on the Bonds) shall constitute a demand loan made by the Banks to the Company on the date of such payment by the Fronting Bank under the Letter of Credit. The Company agrees to pay or cause to have paid to the Administrative Agent, for the account of the Banks, after the honoring by the Fronting Bank of any drawing under the Letter of Credit giving rise to such demand loan, each such demand loan no later than 5:00 P.M. (New York City time) on the date of its making. Any such demand loan (or any portion thereof) not so paid on such date shall bear interest, payable on demand, from the date of making of such demand loan until payment in full, at a fluctuating interest rate per annum equal to the Default Rate.
Reimbursement on Demand. The Applicant shall pay to the Bank on demand at the Bank’s office designated in the demand and on the date of such demand, the amount of each demand, draft, drawing or other request for payment (each, a "Demand") made by the beneficiary or its successors or assigns under any Bank Credit (each, a “Beneficiary”) (whether made before, on, or if in accordance with the law applicable to such Bank Credit, after the expiry date stated in the Bank Credit), except that if a time demand is made under such Bank Credit, the Bank may notify the Applicant of the amount and maturity date of such Demand and the Applicant will make such payment without demand sufficiently in advance of its maturity to enable the Bank to arrange for cover in same day funds to reach the place where such Demand is payable no later than the date of the maturity of such Demand. Each reimbursement or prepayment by the Applicant under this paragraph shall be made, either in the Local Currency equivalent of each Demand, (where “Local Currency” means the currency of the country in which the branch/agency of the Bank, set out on the written application of the Applicant, is located), paid or to be paid by the Bank, or in the currency in which the Bank is to make, has made, or may be called upon to make payment under the Bank Credit. On each date on which any amount is due from the Applicant pursuant to this Agreement, the Applicant shall pay or cause to be paid the same to the Bank by delivering to the Bank a Federal Reserve Bank wire transfer confirmation number evidencing the wire transfer of such amount to The Bank of Nova Scotia, in accordance with the Bank’s wire transfer instructions) by 12 noon Eastern Time on such date. If such amount is so paid after 12 noon Eastern Time on such date, such amount shall not be considered paid on such date, but shall be considered paid on the next day the Bank is open for business and interest shall accrue thereon until such next day, payable on demand, at the rate specified in Section 3 hereof.
Reimbursement on Demand. Celcor will reimburse the Stockholders from time to time on demand for any payment made by the Stockholders at any time in respect of any Loss which the Stockholders may sustain or incur to which the foregoing indemnity relates.
Reimbursement on Demand. Subject to the provisions of Section 3.4 hereof, each Borrower hereby agrees to pay (whether with the proceeds of Advances made pursuant to this Agreement or otherwise) to the LC Bank on demand (a) on and after each date on which the LC Bank shall pay any amount under any Letter of Credit issued for its account a sum equal to such amount so paid (which sum shall constitute a demand loan from the LC Bank to such Borrower from the date of such payment by the LC Bank until so paid by such Borrower), plus (b) interest on any amount remaining unpaid by such Borrower to the LC Bank under clause (a), above, from the date such amount becomes payable on demand until payment in full, at a rate per annum which is equal to 2% plus the then applicable Base Rate until paid in full.
Reimbursement on Demand. The Borrower agrees to pay to U. S. ----------------------- Bank on demand at U. S. Bank's address shown on the signature page hereof: (i) the amount of each draft or other request for payment drawn under any Letter of Credit (whether drawn before, on or after its stated expiry date), and (ii) interest on all amounts referred to in clause (i) above from the date of such draw until payment in full at a fluctuating rate per annum at all times equal to the Default Rate; provided, however, that so -------- ------- long as the conditions precedent set forth in Section 2.1 and Article VI ----------- ---------- are satisfied as of the date of any draw under the Letter of Credit, the Banks will make Revolving Loans in accordance with Section 2.3 (a) to pay --------------- any draw under a Letter of Credit.
Reimbursement on Demand. Except as otherwise ----------------------- specified in Section 2.05 (and provided the conditions precedent specified therein shall have been fulfilled), each amount paid by the LC Bank under a Letter of Credit (including, without limitation, amounts in respect of any reinstatement of the Interest Component (as defined in such Letter of Credit) at the election of the LC Bank notwithstanding any failure by the Company to reimburse the Banks for any previous drawing to pay interest on the Bonds) shall constitute a demand loan made by the Banks to the Company on the date of such payment by the LC Bank under such Letter of Credit. The Company agrees to pay each such demand loan on the date of its making. Any such demand loan (or any portion thereof) not so paid on such date shall bear interest, payable on demand, from the date of making of such demand loan until payment in full, at a fluctuating interest rate per annum equal to the Default Rate.
