Unreimbursed Drawing definition

Unreimbursed Drawing means, with respect to any Letter of Credit, the aggregate Dollar or Dollar Equivalent amount, as applicable, of the draws made on such Letter of Credit that have not been reimbursed by the Borrower or the applicable LC Obligor or converted to a Revolving Loan pursuant to Section 2.05(f)(i), and, in each case, all interest that accrues thereon pursuant to this Agreement.
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Unreimbursed Drawing means a Drawing or portion thereof for which the City has not reimbursed the Bank and which has not been converted to a Term Loan pursuant to Article IV hereof.
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Unreimbursed Drawing shall have the meaning set forth in Section 2.5(d)(ii).
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Examples of Unreimbursed Drawing in a sentence

  • In such event, each applicable Revolving Lender’s payment to the Administrative Agent for the account of the applicable Revolving Facility Issuing Bank pursuant to paragraph (c)(i) above shall be deemed payment in respect of its participation in such Revolving L/C Unreimbursed Drawing and shall constitute in the case of any Revolving Lender, a Revolving L/C Advance from such Revolving Lender in satisfaction of its participation obligation under this Section 3.1.

  • Although the Agent shall be the issuing bank of the Letter of Credit, each Lender hereby accepts for its own account and risk an undivided interest equal to its Commitment Percentage in the Agent's obligations represented by each Letter of Credit issued hereunder, and unconditionally and irrevocably agrees with the Agent that, upon any Unreimbursed Drawing, such Lender shall promptly pay to the Agent an amount equal to such Lender's Commitment Percentage of the amount of such Unreimbursed Drawing.

  • The pledge and Lien hereby granted shall remain effective for so long as any Outstanding Covered Note, the Bank Note, any Payment Obligation, any Unreimbursed Drawing or any Term Loan remains unpaid.

  • If the Borrower shall be given notice of a drawing by 12:00 Noon and shall fail to reimburse the Credit-Linked Issuing Lender on the same date of such notice, the unreimbursed amount of such drawing shall bear interest from the date of notice until the first to occur of (A) the reimbursement of such drawing or (B) the conversion of such Unreimbursed Drawing to a Term Loan pursuant to subsection (d)(ii) below at a per annum rate equal to the ABR Default Rate.

  • The payment of each Unreimbursed Drawing shall constitute an advance of a Loan which shall bear interest as a Base Rate Loan from the Drawing Date.


More Definitions of Unreimbursed Drawing

Unreimbursed Drawing means any drawing under a Letter of Credit that has not yet been reimbursed by the Borrower to (i) the Issuing Bank that paid such drawing or (ii) if such Issuing Bank has been reimbursed for such drawing by the Banks pursuant to Section 3.03, the Banks.
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Unreimbursed Drawing means any drawing under any Letter of Credit which has not been reimbursed on the date when made.
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Unreimbursed Drawing means, with respect to any Letter of Credit, the aggregate amount of LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower or the applicable LC Obligor or Converted to a Revolving Loan pursuant to Section 2.05(e), and, in each case, all interest that accrues thereon pursuant to this Agreement.
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Unreimbursed Drawing means, with respect to any Letter of Credit, the aggregate Dollar or Dollar Equivalent amount, as applicable, of the draws made on such Letter of Credit that have not been reimbursed by the Borrower or the applicable LC Obligor or converted to a Revolving Loan pursuant to
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Unreimbursed Drawing is defined in Section 2.2.3(b).
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Unreimbursed Drawing means any Drawing under a Letter of Credit for which the Applicants do not reimburse the Issuer pursuant to Section 2.4.
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Unreimbursed Drawing shall have the meaning set forth in Section 2.3(c) of this Agreement.
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