Agreement to Repay LC Disbursements. (a) If the Fronting Bank shall pay any draft presented under a Letter of Credit, the Borrower shall pay to the Fronting Bank an amount equal to the amount of such draft not later than two hours after the Borrower shall have received notice from the Fronting Bank that payment of such draft will be made or, if the Borrower shall have received such notice later than 10:00 a.m., New York City time, on any Business Day, not later than 10:00 a.m., New York City time, on the immediately following Business Day.
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Samples: Credit Agreement (Jefferson Smurfit Corp /De/), Credit Agreement (Jsce Inc), Credit Agreement (Smurfit Stone Container Corp)
Agreement to Repay LC Disbursements. (a) If the ------------------------------------ Fronting Bank shall pay any draft presented under a Letter of Credit, the Borrower shall pay to the Fronting Bank an amount equal to the amount of such draft not later than two hours after the Borrower shall have received notice from the Fronting Bank that payment of such draft will be made or, if the Borrower shall have received such notice later than 10:00 a.m., New York City time, on any Business Day, not later than 10:00 a.m., New York City time, on the immediately following Business Day.
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