Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit honors a draw under such Letter of Credit and the Borrower shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section 2.3(d)(1), the Lender shall pay the issuer and such amount when paid shall constitute a Revolving Loan which shall be deemed to have been requested by the Borrower.
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Samples: Loan and Security Agreement (Globespan Semiconductor Inc), Loan and Security Agreement (Paradyne Corp), Loan and Security Agreement (Great Train Store Co)
Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit honors a draw under such Letter of Credit and the Borrower shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section 2.3(d)(12.3(d)(i), the Lender shall pay the issuer and such amount when paid shall constitute a Reference Rate Revolving Loan which shall be deemed to have been requested by the Borrower.
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Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit honors a draw under such Letter of Credit and the Borrower shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section 2.3(d)(12.4(e)(i), the Agent shall, upon receiving notice of such failure, notify each Lender shall pay the issuer of such failure, and such amount when paid shall constitute a Revolving Loan which shall be deemed to have been requested by the Borrower.each
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Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit (including an IRB Letter of Credit) honors a draw under such Letter of Credit and the applicable Borrower shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section 2.3(d)(1), the Lender shall pay the issuer and such amount when paid shall constitute a Revolving Loan to such Borrower which shall be deemed to have been requested by the BorrowerParent.
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Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit honors a draw under such Letter of Credit and the Borrower Borrowers shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section 2.3(d)(12.3(d)(i), the Lender shall pay the issuer and such amount when paid shall constitute a Revolving Loan which shall be deemed to have been requested by the BorrowerBorrower originally requesting the relevant Letter of Credit.
Appears in 1 contract
Samples: Loan and Security Agreement (California Microwave Inc)
Revolving Loans to Satisfy Reimbursement Obligations. In the event that the issuer of any Letter of Credit honors a draw under such Letter of Credit and the Borrower shall not have repaid such amount to the issuer of such Letter of Credit pursuant to Section SECTION 2.3(d)(1), the Lender shall pay the issuer and such amount when paid shall constitute a Reference Rate Revolving Loan which shall be deemed to have been requested by the Borrower.
Appears in 1 contract
Samples: Security Agreement (Strouds Inc)
