Repayment of Drawings. If any Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, Borrower shall reimburse or cause reimbursement of such LC Disbursement by paying or causing to be paid to the Administrative Agent an amount equal to such LC Disbursement in the same currency as such LC Disbursement not later than 2:00 p.m., New York City time, on the second Business Day immediately following the date on which Borrower shall have received notice of such LC Disbursement; provided that Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.3 that such payment be financed with a Borrowing in the Dollar Equivalent of the amount of such LC Disbursement and, to the extent so financed, Borrower’s obligation to make such payment or cause it to be made shall be discharged and replaced by the resulting Borrowing. To the extent such payment is so financed or Borrower fails to make such payment or cause it to be made when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from Borrower in the Dollar Equivalent amount in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage of the Dollar Equivalent amount of such payment then due from Borrower in US Dollars, in the same manner as provided in Section 2.5 with respect to Loans made by such Lender (and Section 2.5 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from Borrower or any Subsidiary pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse such Issuing Bank for any LC Disbursement (other than the funding of ABR Loans as contemplated above) shall not constitute a Loan and shall not relieve Borrower of its obligation to reimburse such LC Disbursement.
Repayment of Drawings. (a) Obligor agrees to reimburse Bank on demand for any draw under the Letter of Credit.
Repayment of Drawings. Forthwith when a draft or other demand for payment under the Letter of Credit II is received by the Lender or the Lender receives notice thereof from any other issuer of such Letter of Credit II, the Lender shall give notice thereof to the Borrower by telecopy or telephone, which shall constitute a demand for payment under the Letter of Credit Note II; provided that the Borrower shall not be deemed to be in payment default thereunder until after the second Business Day after such notice.
Repayment of Drawings. The Issuer shall pay or cause to be paid to the Bank by 3:00 p.m., [ ] time, on the Drawing Date the full amount of the Drawing made to pay the principal of and interest accrued on the Notes to and including such date. Any payment received after 3:00 p.m., [ ] time, shall be deemed received as of the next Business Day. If the Issuer does not make such reimbursement on such date, such Reimbursement Obligation shall bear interest at the Default Rate.
Repayment of Drawings. On and after the date of any drawing on the Letter of Credit, the Authority will use its best efforts to cause the Dealer to sell Notes as soon as practicable and to use the proceeds of the sale of such Notes to repay such drawing.
Repayment of Drawings. The Borrower shall repay all Drawings to the Bank at maturity of their respective Interest Periods. This notwithstanding, the Borrower may, if it meets the requisites stipulated in this Clause 5 for any Drawings, notify the Bank of its desire to renew a Drawing (provided it is not the last one) at maturity, in which case the procedure established in this Clause 5 shall be followed. In the absence of this notice (made sufficiently in advance as per Clause 5.3 above), the Borrower shall be deemed not to wish to renew the Drawing in question, in which case it shall be obliged to repay the corresponding amount and all interest thereon. Sums thus repaid may be redrawn up to one week before Final Maturity.
Repayment of Drawings. 5 2.3 Fees........................................ 7 2.4
Repayment of Drawings. (a) The Company agrees to reimburse the Bank, at the times, in the manner and otherwise in accordance with the terms of this Agreement, for all amounts drawn under the Letter of Credit in connection with the Demand for Payment and to pay all other Reimbursement Obligations together with interest thereon, pursuant to the terms hereof. The Company agrees to pay, or cause to be paid, to the Bank on the Maturity Date, an amount equal to the amount disbursed by the Bank pursuant to the Letter of Credit, plus interest which shall accrue and be payable for each Interest Period, on the amount so disbursed by the Bank at the Bank Rate from and including the date of such disbursement to but not including the date the Bank is reimbursed in full subject to the provisions of Section 2.8 in which case such amounts will bear interest at the Base Rate plus the Applicable Floating Rate Margin. Interest shall be payable hereunder on the last day of each Interest Period and, in the case of an Interest Period of six months, on the date occurring three months from the first day of such Interest Period and on the Maturity Date.
Repayment of Drawings
