Common use of Revolving Loans to Satisfy Reimbursement Obligations Clause in Contracts

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer honors a draw under any Letter of Credit and the Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer pursuant to Section 2.3(e)(i), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of the L/C Issuer, as and when provided herein below, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon (New York City time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the Borrower for whose account such Letter of Credit was issued, pursuant to Section 4.4.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer issuer of any Letter of Credit honors a draw under any such Letter of Credit and the Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer issuer of such Letter of Credit pursuant to Section 2.3(e)(i2.4(e)(i), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of the L/C Issuersuch issuer, as and when provided herein belowhereinbelow, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon 11:00 a.m. (New York City Chicago time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the Borrower for whose account such Letter of Credit was issued, pursuant to Section 4.42.2 as set forth in Section 4.7.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer issuer of any Letter of Credit honors a draw under any such Letter of Credit and the applicable Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer issuer of such Letter of Credit pursuant to Section 2.3(e)(i2.4(e)(1), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of the L/C Issuersuch issuer, as and when provided herein belowhereinbelow, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon 11:00 a.m. (New York City San Francisco, California time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the applicable Borrower for whose account such Letter of Credit was issued, pursuant to Section 4.42.2 as set forth in Section 4.7.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer issuer of any Letter of Credit honors a draw under any such Letter of Credit and the Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer issuer of such Letter of Credit pursuant to Section 2.3(e)(i2.2A(e)(1), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of the L/C Issuersuch issuer, as and when provided herein belowhereinbelow, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon 1:00 p.m. (New York City time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the Borrower for whose account such Letter of Credit was issued, pursuant to Section 4.42.2 as set forth in Section 4.2(b).

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer issuer of any Letter of Credit honors a draw under any such Letter of Credit and the applicable Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer issuer of such Letter of Credit pursuant to Section 2.3(e)(i2.2(e)(1), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of the L/C Issuersuch issuer, as and when provided herein belowhereinbelow, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon 11:00 a.m. (New York City San Francisco, California time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the applicable Borrower for whose account such Letter of Credit was issued, pursuant to Section 2.1 as set forth in Section 4.4.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the L/C Issuer Agent honors a draw under any such Letter of Credit and the Borrower for whose account such Letter of Credit was issued shall not have repaid such amount to the L/C Issuer Agent pursuant to Section 2.3(e)(i) (Payment of Letter of Credit Obligations), the Agent shall, upon receiving notice of such failure, notify each Lender of such failure, and each Lender shall unconditionally pay to the Agent, for the account of such issuer or the L/C IssuerAgent, as applicable, as and when provided herein belowhereinbelow, an amount equal to such Lender's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Agent so notifies the Lenders prior to 12:00 noon 1:00 p.m. (New York City Chicago time) on any Business Day, each Lender shall make available to the Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Lenders to the Agent shall constitute Revolving Loans which shall be deemed to have been requested by Phar-Mor on behalf of the Borrower for whose account such Letter of Credit was issued, pursuant to Section 4.42.2 (Revolving Loans) as set forth in Section 4.4 (Payments as Revolving Loans).