Reinstatement of Letter of Credit. (a) After any A-Drawing, the Principal Component shall be reinstated upon delivery of a certificate in the form of Annex 2 to the Letter of Credit.
Reinstatement of Letter of Credit. After any "C Drawing", the obligation of the Bank to honor demands for payment under the Letter of Credit with respect to payment of interest, or the portion of Purchase Price of the applicable series of Bonds corresponding to interest, on the applicable series of Bonds will automatically be reinstated up to the total amount specified therein, upon the terms and conditions set forth in the Letter of Credit. Upon release by or on behalf of the Bank pursuant to Paragraph 3B hereof of any Pledged Bonds, the obligation of the Bank to honor demands for payment under the Letter of Credit with respect to payment of the principal, or the portion of Purchase Price of the Bonds corresponding to principal, of such Bonds will be automatically reinstated up to the total amount specified therein upon the terms and conditions set forth in the Letter of Credit.
Reinstatement of Letter of Credit. After any “A Drawing” or “C Drawing,” the obligation of the Issuing Bank to honor demands for payment under the Letter of Credit with respect to payment of interest (but not principal) on the Bonds will automatically and immediately be reinstated up to the total amount specified therein, upon the terms and conditions set forth in such Letter of Credit; provided, however, that in no event shall such Letter of Credit be reinstated following any drawing under such Letter of Credit pertaining to the payment of the principal of or interest on the Bonds as a result of the acceleration or redemption of the Bonds. Upon the reimbursement of the Issuing Bank by the Borrower in accordance with Section 3.1(b) hereof and the release by the Administrative Agent, on behalf of the Issuing Bank and the Lenders pursuant to Section 3.2 hereof, of any Pledged Bonds, the obligation of the Issuing Bank to honor demands for payment under such Letter of Credit with respect to payment of the principal of the Bonds will be automatically and immediately reinstated up to the total amount specified therein upon the terms and conditions set forth in such Letter of Credit.
Reinstatement of Letter of Credit. The consent of --------------------------------- the Banks shall not be required with respect to the automatic reinstatement of the Interest Component of a Letter of Credit resulting from a drawing under the Letter of Credit to pay interest on the Bonds (an "Interest Drawing"), except as provided in this Section 2.18. If the Company has not reimbursed the Banks in full for such Interest Payment by making payment to the Administrative Agent within five Business Days after an Interest Drawing, the Administrative Agent shall notify the Banks to such effect. Unless an Event of Default shall have been declared pursuant to Section 6.02, on the fifteenth calendar day after such Interest Drawing, or if such day will not be a Business Day, on the immediately preceding Business Day, the LC Bank shall deliver to the Trustee a written notice stating that the Banks have not been reimbursed for such drawing and that the Interest Component will not be reinstated, unless either (A) the Administrative Agent has received the necessary reimbursement payment by such fifteenth calendar day (or preceding Business Day, as the case may be) or (B) all of the Banks have in their respective sole discretion agreed that such notice shall not be sent and that the Interest Component shall consequently be allowed to automatically reinstate. ARTICLE III
Reinstatement of Letter of Credit. (a) After any A-Drawing, the Principal Component shall be reinstated upon delivery of a certificate in the form of Exhibit A-5 to the Letter of Credit.
Reinstatement of Letter of Credit. After any "C Drawing", the obligation of the Bank to honor demands for payment under the Letter of Credit with respect to payment of interest (or the portion of Purchase Price corresponding to interest) on the Bonds will automatically be reinstated upon the terms and conditions set forth in the Letter of Credit. Upon release by the Bank pursuant to Paragraph 2B hereof of any Pledged Bonds, the obligation of the Bank to honor demands for payment under the Letter of Credit with respect to payment of the principal, or the portion of Purchase Price corresponding to principal, of the Bonds will automatically be reinstated upon the terms and conditions set forth in the Letter of Credit.
Reinstatement of Letter of Credit. After any Drawing, the --------------------------------- obligation of the Bank to honor demands for payment under the Letter of Credit with respect to further such drawings will be reinstated up to the total amount specified therein upon receipt by the Bank of payment of all amounts so drawn plus any accrued interest on such amounts [as provided in Section 2.4(f)] due hereunder, provided that the Bank shall have the right to notify the Corporation and the Trustee not later than the tenth (10th) day (or, if such day is not a Business Day, on the next preceding Business Day) following the day on which a payment in respect of a Drawing is made that such reinstatement shall not occur if (i) such drawing or a previous or subsequent drawing has been made under the Letter of Credit for which the Bank has not been reimbursed for amounts then due by the Corporation or (ii) an Event of Default shall have occurred and then be continuing.
Reinstatement of Letter of Credit. Immediately following any drawing by the Letter of Credit Beneficiary upon the Letter of Credit pursuant to a draft accompanied by a certification in the form of Annex A to the Letter of Credit, the obligation of the Bank under the Letter of Credit shall automatically be reinstated to the extent so provided in the Letter of Credit. Immediately following reimbursement in full of the Bank for the amount of any drawing by the Letter of Credit Beneficiary upon the Letter of Credit pursuant to a draft accompanied by a certification in the form of Annex B to the Letter of Credit, the obligation of the Bank under the Letter of Credit shall be automatically reinstated to the extent so provided in the Letter of Credit. Nothing in this Subsection 2.2 shall limit the Bank's rights under any other provision of this Agreement or the other L/C Documents.
Reinstatement of Letter of Credit. Until the applicable Expiry Date, CoBank agrees to automatically reinstate the Letter of Credit: (a) by the amount of each Interest Drawing unless CoBank shall, within three Business Days after such Interest Drawing, have sent the Bond Trustee a written notice in the form of the Certificate of Non-reinstatement; and (b) by the amount of each Remarketing Drawing upon receipt by the Bond Trustee of Bonds in an aggregate principal amount equal to the unpaid amount of the principal portion of such Remarketing Drawing which are either (x) registered in the name of Borrower as pledgor and CoBank as pledgee (“Pledged Bonds”), or (y) registered in the name of CoBank as owner (“Bank Bonds”).
Reinstatement of Letter of Credit. The consent of --------------------------------- the Banks shall not be required with respect to the automatic reinstatement of the Interest Component of a Letter of Credit resulting from a drawing under the Letter of Credit to pay interest on the Bonds (an "Interest Drawing"), except as provided in this Section 2.18. If the Company has not reimbursed the Banks in full for such Interest Payment by making payment to the Administrative Agent within five Business Days after an Interest Drawing, the Administrative Agent shall notify the Banks to such effect. Unless an Event of Default shall have been declared pursuant to Section 6.02, on the fifteenth calendar day after such Interest Drawing, or if such day will not be a Business Day, on the immediately preceding Business Day, the LC Bank shall deliver to the Trustee a written notice stating that the Banks have not been reimbursed for such drawing and that the Interest Component will not be reinstated, unless either (A) the Administrative Agent has
