Letter of Credit Reimbursement Obligations definition

Letter of Credit Reimbursement Obligations means all such obligations with respect to all Letters of Credit.

Letter of Credit Reimbursement Obligations means, at any time, all obligations of Borrower to reimburse Bank for amounts paid by Bank in respect of drawings under Letters of Credit.

Letter of Credit Reimbursement Obligations means, collectively, (a) the obligations of the Borrowers to reimburse the Issuing Bank in accordance with the terms of this Agreement and the related Letter of Credit Application for any payments made by the Issuing Bank under any Letter of Credit, and (b) all fees and expenses payable to the Agent for the account of the Lenders in respect of any Letter of Credit.

Examples of Letter of Credit Reimbursement Obligations in a sentence

• The unpaid Letter of Credit Reimbursement Obligations, the unpaid interest accrued thereon, and the interest rate or rates applicable thereto shall at all times be ascertained from the records of the Issuing Bank, which shall be conclusive absent manifest error.

• Amounts other than Letter of Credit Reimbursement Obligations and Letter of Credit Fees payable from time to time under or in connection with a Letter of Credit or Letter of Credit Application shall be for the sole account of the Issuing Bank.

• The Agent shall direct the Collateral Agent to release funds in the Letter of Credit Collateral Account to the Issuing Bank for payment of Letter of Credit Reimbursement Obligations constituting Letter of Credit Unreimbursed Draws, as and when the same become due and payable if and to the extent the Borrower fails to pay the same.

• Interest on Letter of Credit Reimbursement Obligations shall accrue at a rate per annum (based on a year of 360 days and actual days elapsed) which for each day shall be equal to the then-current Applicable Interest Rate beginning on the day that the related Letter of Credit payment is made and shall be due and payable on the day that the Letter of Credit Reimbursement Obligation is due and payable in accordance with Section 2.05(a) hereof.

• If and to the extent that any Lender fails to make such payment to the Issuing Bank on such date, such Lender shall pay such amount on demand, together with interest, for the Issuing Bank's own account, for each day from and including the date of the Issuing Bank's payment to and including the date of repayment to the Issuing Bank (before and after judgment) at the rate per annum applicable to such Letter of Credit Reimbursement Obligations.

More Definitions of Letter of Credit Reimbursement Obligations

Letter of Credit Reimbursement Obligations means any and all obligations of the parties to the Letter of Credit Reimbursement Agreement to reimburse the Letter of Credit Provider for credit disbursements under the Letter of Credit.

Letter of Credit Reimbursement Obligations means, at any time, the aggregate amount then owed by the Borrower to the Lender for or in respect of all payments or disbursements made by the Lender under or in respect of draws made under one or more of the Letters of Credit.

Letter of Credit Reimbursement Obligations means, at any time, the obligations of the Borrowers then outstanding, or that may thereafter arise in respect of all Letters of Credit then outstanding, to reimburse amounts paid by the Lender in respect of any drawings under a Letter of Credit (to the extent not converted to a Canadian Prime Loan or a U.S. Base Rate Loan hereunder).

Letter of Credit Reimbursement Obligations means, as to any Letter of Credit, including, without limitation, the FMCP L/C, as at any date of determination, all Obligations of any of the Borrowers relating to such Letter of Credit as at such date, including, without limitation, the sum of (a) the maximum aggregate amount which is then available to be drawn under such Letter of Credit PLUS (b) the aggregate amount of all drawings under such Letter of Credit honored by the Agent and not theretofore reimbursed by the Borrowers.

Letter of Credit Reimbursement Obligations means, at any date, the obligations of the Company then outstanding to reimburse the LC Issuer for payments made by the LC Issuer under the Letter of Credit.

Letter of Credit Reimbursement Obligations means, as to any Letter of Credit, as at any date of determination, all Obligations of the Borrower relating to such Letter of Credit as at such date, including, without limitation, the sum of (a) the maximum aggregate amount which is then available to be drawn under such Letter of Credit plus (b) the aggregate amount of all drawings under such Letter of Credit honored by the Agent (or the issuing Bank) and not theretofore reimbursed by the Borrower.

Letter of Credit Reimbursement Obligations means, at any date, the ------------------------------------------ obligations of the Borrowers then outstanding to reimburse the Lender for payments made by the Lender under the Letters of Credit.