Obligation of Reimbursement definition

Obligation of Reimbursement has the meaning given in Section 2.3(a).

Obligation of Reimbursement means the obligation of the Borrower to reimburse the Lender pursuant to the terms of the Standby Letter of Credit Agreement and the Commercial Letter of Credit Agreement and any applicable L/C Application.

Obligation of Reimbursement is defined in Section 1.10(b).

Examples of Obligation of Reimbursement in a sentence

• Xxxxx Fargo is authorized, alternatively and in its sole discretion, to make an Advance in an amount sufficient to discharge the Obligation of Reimbursement and pay all accrued but unpaid interest and fees with respect to the Obligation of Reimbursement.

• If Company is unable, due to the existence of a Default Period or for any other reason, to obtain an Advance to pay any Obligation of Reimbursement, Company shall pay Xxxxx Fargo on demand and in immediately available funds, the amount of the Obligation of Reimbursement together with interest, accrued from the date presentment of the underlying draft until reimbursement in full at the Default Rate.

• Notwithstanding such Borrower's inability to obtain a Revolving Advance for any reason, the Lender is irrevocably authorized, in its sole discretion, to make a Revolving Advance in an amount sufficient to discharge the Obligation of Reimbursement and all accrued but unpaid interest thereon.

More Definitions of Obligation of Reimbursement

Obligation of Reimbursement has the meaning given in Section ------- 2.6(a). ------

Obligation of Reimbursement has the meaning given in Section 2.19.

Obligation of Reimbursement has the meaning specified in Section 6.24(e) of the Loan Agreement.”

Obligation of Reimbursement has the meaning specified in Section 2.5 hereof.

Obligation of Reimbursement is defined in Section 1.10(b). “OFAC” is defined in Section 5.12(b).

Obligation of Reimbursement. Special Account" and "L/C Application", reading as follows:

Obligation of Reimbursement has the meaning specified in Section 2.16 hereof. "Special Account" means a specified cash collateral account maintained by the Lender in connection with Letters of Credit, as contemplated by Sections 2.17 and 3.1a. hereof.