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.

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.

Unreimbursed Drawing shall have the meaning set forth in Section 2.5(d)(ii).

Examples of Unreimbursed Drawing in a sentence

• The City agrees not to authorize, instruct or permit the Issuing and Paying Agent to authenticate and deliver Covered Notes at any time when any Unreimbursed Drawing or Term Loan is outstanding unless the proceeds of the sale of such Covered Notes are to be applied on the sale date to repay such Unreimbursed Drawing or Term Loan (together with all accrued and unpaid interest thereon).

• 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.

• On a Drawing Maturity Date, each Unreimbursed Drawing remaining due and payable after 2:00 P.M., New York City time on such date shall, if the conditions precedent set forth in Section 4.2 hereof have been satisfied, be converted to a Term Loan.

• Interest on the unpaid principal balance of each Unreimbursed Drawing shall bear interest at the Bank Rate and shall be paid to the Bank monthly in arrears on the first Business Day of each calendar month to occur from and including the Drawing Date to and including the Drawing Maturity Date.

• Each Drawing Loan shall be due and payable on demand and shall bear interest on the unpaid principal amount thereof from the date such Drawing Loan is made until it is paid in full, at a rate per annum equal to the Unreimbursed Drawing Rate.

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 the L/C Provider and any drawing of Cash Collateral under a Cash Collateral Agreement that has not yet been reimbursed by the Borrower to the L/C Provider.

Unreimbursed Drawing means any drawing under any Letter of Credit which has not been reimbursed on the date when made.

Unreimbursed Drawing means, with respect to any Letter of Credit, the aggregate amount 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.

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

Unreimbursed Drawing means any Drawing under a Letter of Credit for which the Applicants do not reimburse the Issuer pursuant to Section 2.4.

Unreimbursed Drawing shall have the meaning set forth in Section 2.3(c) of this Agreement.

Unreimbursed Drawing is defined in Section 2.2.3(b).