Common use of The Reimbursement Obligations Clause in Contracts

The Reimbursement Obligations. Subject to Section 2.2(b) hereof, the obligation of the Borrower to reimburse the applicable Issuing Agent for all drawings under a Letter of Credit (a “Reimbursement Obligation”) shall be governed, to the extent not inconsistent with this Agreement, by the Supplemental Letter of Credit Agreement related to such Letter of Credit, except that (i) reimbursement of each drawing paid prior to 1:30 p.m. (New York time) shall be made in immediately available funds at the applicable office of Issuing Agent which has been designated by it to the Borrower in writing for such purpose on the date when such drawing is paid or (ii) if such drawing was paid after 1:30 p.m. (New York time), by 12:00 noon (New York time) on the next Business Day. If the Borrower does not make any such reimbursement payment on the date due (whether through a deemed request for a Base Rate Loan pursuant to Section 2.5(c) hereof or otherwise) and the Banks fund their participations therein in the manner set forth in Section 2.2(d) hereof, then all payments thereafter received by an Issuing Agent in discharge of any of the relevant Reimbursement Obligations shall be distributed in accordance with Section 2.2(d) hereof. An Issuing Agent shall notify the Borrower and the Administrative Agent promptly of its intent to pay, or payment of, a drawing under a Letter of Credit.

The Reimbursement Obligations. Subject to Section 2.2(b) hereof, the obligation of the Borrower to reimburse the applicable Issuing Agent for all drawings under a Letter of Credit (a “Reimbursement Obligation”) shall be governed, to the extent not inconsistent with this Agreement, by the Supplemental Master Letter of Credit Agreement and the Application related to such Letter of Credit, except that (i) reimbursement of each drawing paid prior to 1:30 p.m. (New York time) shall be made in immediately available funds at the applicable Issuing Agent’s principal office of Issuing Agent which has been designated in New York, New York by it to the Borrower in writing for such purpose no later than 1:30 p.m. (New York time) on the date when such drawing is paid or (ii) or, if such drawing was paid after 1:30 p.m. (New York time), by 12:00 noon (New York time) on the next Business Dayend of such day. If the Borrower does not make any such reimbursement payment on the date due (whether through a deemed request for a Base Rate Loan pursuant to Section 2.5(c) hereof or otherwise) and the Banks fund their participations therein in the manner set forth in Section 2.2(d) hereofbelow, then all payments thereafter received by an Issuing Agent in discharge of any of the relevant Reimbursement Obligations shall be distributed in accordance with Section 2.2(d) hereofbelow. An Issuing Agent shall notify the Borrower and the Administrative Agent promptly of its intent to pay, or payment of, a drawing under a Letter of Credit.

The Reimbursement Obligations. Subject to Section 2.2(b) hereof, the obligation of the Borrower to reimburse the applicable Issuing Agent Bank for all drawings under a Letter of Credit (a “Reimbursement Obligation”) shall be governed, to the extent not inconsistent with this Agreement, by the Supplemental Master Letter of Credit Agreement and the Application related to such Letter of Credit, except that (i) reimbursement of each drawing paid prior to 1:30 p.m. (New York time) shall be made in immediately available funds at the applicable Issuing Bank’s principal office of Issuing Agent which has been designated as set forth on Schedule 11.8 by it to the Borrower in writing for such purpose no later than 1:30 p.m. (Eastern time) on the date when such drawing is paid or (ii) or, if such drawing was paid after 1:30 12:30 p.m. (New York Eastern time), by 12:00 noon 11:30 a.m. (New York Eastern time) on the next Business Dayday. If the Borrower does not make any such reimbursement payment on the date due (whether through a deemed request for a Base Rate Loan pursuant to Section 2.5(c) hereof or otherwise) and the Banks fund their participations therein in the manner set forth in Section 2.2(d) hereofbelow, then all payments thereafter received by an Issuing Agent Bank in discharge of any of the relevant Reimbursement Obligations shall be distributed in accordance with Section 2.2(d) hereofbelow. An Issuing Agent Bank shall notify the Borrower and the Administrative Agent promptly of its intent to pay, or payment of, a drawing under a Letter of Credit.

The Reimbursement Obligations. (i) Upon receipt from the beneficiary of any Letter of Credit or any draft for payment or notice of drawing under such Letter of Credit, such LC Issuer shall promptly notify the Borrower and the Administrative Agent thereof. Subject to Section 2.2(bclause (ii) hereofbelow, the obligation of the Borrower to shall reimburse the applicable Issuing Agent each LC Issuer for all drawings amounts drawn under a Letter of Credit that has been honored by such LC Issuer (a “Reimbursement Obligation”) shall be governed, to the extent not inconsistent with this Agreement, by the Supplemental Letter of Credit Agreement related to such Letter of Credit, except that (i) reimbursement of each drawing paid prior to 1:30 p.m. no later than 12:00 Noon (New York time) shall be made in immediately available funds at on the applicable office of Issuing Agent which date that such LC Issuer honored the drawing; provided that the Borrower has been designated informed of such drawing by it to the Borrower in writing for such purpose LC Issuer at or before 11:30 a.m. (New York time) on the date when such drawing is paid or (ii) honored and, if notice of such drawing was paid is given to the Borrower after 1:30 p.m. (New York time), by 12:00 noon 11:30 a.m. (New York time) on the next date when such drawing is honored, such reimbursement shall be paid by 12:00 Noon (New York time) on the following Business Day. If , in Same Day Funds at the Administrative Agent’s principal office in New York, New York, or such other office as the Administrative Agent may designate in writing to the Borrower does not make any such reimbursement payment on the date due (whether through a deemed request for a Base Rate Loan pursuant to Section 2.5(c) hereof or otherwise) and the Banks fund their participations therein in the manner set forth in Section 2.2(d) hereof, then all payments thereafter received by an Issuing Agent in discharge of any of the relevant Reimbursement Obligations shall be distributed in accordance with Section 2.2(d) hereof. An Issuing Agent shall notify the Borrower and the Administrative Agent promptly of its intent shall thereafter cause to paybe distributed to such LC Issuer such amount(s) in like funds); provided, or however, if such day is not a Business Day, the date for such payment of, a drawing under a Letter of Creditshall be extended to the next succeeding Business Day.