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

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the Administrative Agent honors a draw under such Letter of Credit, and the Borrowers shall not have repaid such amount to the Administrative Agent pursuant to Section 2.10(e)(1), the Administrative Agent shall, upon receiving notice of such failure, notify each Revolving Lender of such failure, and each Revolving Lender shall unconditionally pay to the Administrative Agent, for the account of the Administrative Agent, as and when provided hereinbelow, an amount equal to such Revolving Lender’s Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Administrative Agent so notifies the Revolving Lenders prior to 12:00 p.m. (New York time) on any Business Day, each Revolving Lender shall make available to the Administrative Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Revolving Lenders to the Administrative Agent shall constitute Revolving Loans which shall be deemed to have been requested by the applicable Borrower pursuant to Section 2.03.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the Administrative Agent Issuing Bank of any Letter of Credit honors a draw under such Letter of Credit, Credit and the Borrowers Borrower shall not have repaid such amount to the Administrative Agent Issuing Bank of such Letter of Credit pursuant to Section 2.10(e)(12.04(c)(v)(1), the Administrative Agent shall, upon receiving notice of such failure, notify each Revolving Lender of such failure, and each Revolving Lender shall unconditionally pay to the Administrative Agent, for the account of the Administrative Agentsuch Issuing Bank, as and when provided hereinbelow, an amount equal to such Revolving Lender’s 's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Administrative Agent so notifies the Revolving Lenders prior to 12:00 p.m. noon (New York Chicago time) on any Business Day, each Revolving Lender shall make available to the Administrative Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Revolving Lenders to the Administrative Agent Agent, for the benefit of the Issuing Bank, shall constitute Revolving Loans which shall be deemed to have been requested by the applicable Borrower pursuant to Section 2.032.01(b).

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the Administrative Agent issuer of any Letter of Credit honors a draw under such Letter of Credit, Credit or makes any payment with respect to a Shipping Release Indemnity or the Administrative Agent shall have made any payment pursuant to any Credit Support or Shipping Release Indemnity and the Borrowers applicable Borrower shall not have repaid such amount to the issuer of such Letter of Credit or Shipping Release Indemnity or the Administrative Agent Agent, as applicable, pursuant to Section 2.10(e)(12.4(e)(1) or Section 2.4(k)(2), as appropriate, the Administrative Agent shall, upon receiving notice of such failure, notify each Revolving Lender of such failure, and each Revolving Lender shall unconditionally and immediately pay to the Administrative Agent, for the account of such issuer or the Administrative Agent, as and when provided hereinbelowapplicable, an amount equal to such Revolving Lender’s 's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Administrative Agent so notifies the Revolving Lenders prior to 12:00 p.m. (New York time) on any Business Day, each Revolving Lender shall make available to the Administrative Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Revolving Lenders to the Administrative Agent shall constitute Revolving Loans which shall be deemed to have been requested by the applicable Borrower pursuant to Section 2.032.2 as set forth in Section 4.5.

Revolving Loans to Satisfy Reimbursement Obligations. In the event that the Administrative Agent L/C Issuer honors a draw under such Letter of Credit, Credit and the Borrowers Borrower shall not have repaid such amount to the Administrative Agent L/C Issuer pursuant to Section 2.10(e)(12.3(e)(1), the Administrative Agent shall, upon receiving notice of such failure, notify each Revolving Lender of such failure, and each Revolving Lender shall unconditionally pay to the Administrative Agent, for the account of the Administrative Agentsuch L/C Issuer, as and when provided hereinbelow, an amount equal to such Revolving Lender’s 's Pro Rata Share of the amount of such payment in Dollars and in same day funds. If the Administrative Agent so notifies the Revolving Lenders prior to 12:00 p.m. 11:00 a.m. (New York Pacific time) on any Business Day, each Revolving Lender shall make available to the Administrative Agent the amount of such payment, as provided in the immediately preceding sentence, on such Business Day. Such amounts paid by the Revolving Lenders to the Administrative Agent shall constitute Revolving Loans which shall be deemed to have been requested by the applicable Borrower pursuant to Section 2.032.2 as set forth in Section 4.4 and to have satisfied the reimbursement obligations relating to the draw under such Letter of Credit, notwithstanding any failure of conditions precedent to the making of Revolving Loans, including Availability.