Common use of Agreement to Repay Clause in Contracts

Agreement to Repay. (a) The Company hereby agrees to reimburse the Letter of Credit Issuer, by making payment to it at the Payment Office, for any payment or disbursement made by the Letter of Credit Issuer under any Letter of Credit and for each Acceptance upon the stated maturity date thereof (each such amount so paid, disbursed or matured until reimbursed, an "Unpaid Drawing") immediately after, and in any event on the date on which, the Company is notified by the Letter of Credit Issuer of such payment, disbursement or maturity, such payment to be made in U.S. dollars (and in the Dollar Equivalent of any such payment, disbursement or matured Acceptance made or denominated in an Alternate Currency), with interest on the amount so paid, disbursed or matured, to the extent not reimbursed prior to 1:00 P.M. (New York time) on the date of such payment, disbursement or maturity, from and including the date paid, disbursed or matured to but not including the date the Letter of Credit Issuer is reimbursed therefor at a rate per annum which shall be the Applicable Base Rate Margin in excess of the Base Rate as in effect from time to time (plus an additional 2% per annum if not reimbursed by the third Business Day after the date of such notice of payment, disbursement or maturity), such interest also to be payable on demand. (b) The Company's obligation under this Section 2.04 to reimburse the Letter of Credit Issuer with respect to Unpaid Drawings (including, in each case, interest thereon) shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Company may have or have had against the Letter of Credit Issuer, the Agents or any Bank, including, without limitation, any defense based upon the failure of any drawing under a Letter of Credit or Acceptance

Agreement to Repay. (a) The Company Borrower hereby agrees to reimburse the Letter of Credit Issuer, by making payment to it at the Payment Office, for any payment or disbursement made by the Letter of Credit Issuer under any Letter of Credit and for each Acceptance upon the stated maturity date thereof (each such amount so paid, paid or disbursed or matured until reimbursed, an "Unpaid Drawing") immediately after, promptly after (and in any no event on later than the Business Day following the date on which, ) the Company Borrower is notified by the Letter of Credit Issuer of such payment, disbursement payment or maturity, such payment to be made in U.S. dollars (and in the Dollar Equivalent of any such payment, disbursement or matured Acceptance made or denominated in an Alternate Currency)disbursement, with interest on the amount so paid, paid or disbursed or matured, to the extent not reimbursed prior to 1:00 P.M. (New York time) on the date of such payment, disbursement payment or maturitydisbursement, from and including the date paid, paid or disbursed or matured to but not including the date the Letter of Credit Issuer is reimbursed therefor at a rate per annum which shall be the Applicable Base Rate Margin in excess of the Base Rate as in effect from time to time (plus an additional 2% per annum if not reimbursed by the third Business Day after the date of such notice of payment, disbursement payment or maturitydisbursement), such interest also to be payable on demand. (b) The CompanyBorrower's obligation under this Section 2.04 to reimburse the Letter of Credit Issuer with respect to Unpaid Drawings (including, in each case, interest thereon) shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Company Borrower may have or have had against the Letter of Credit Issuer, the Agents Agent or any Bank, including, without limitation, any defense based upon the failure of any drawing under a Letter of Credit to conform to the terms of the Letter of Credit or Acceptanceany non-application or misapplication by the beneficiary of the proceeds of such drawing; PROVIDED, HOWEVER, that the Borrower shall not be obligated to reimburse the Letter of Credit Issuer for any wrongful payment made by the Letter of Credit Issuer under a Letter of Credit as a result of acts or omissions constituting willful misconduct or gross negligence on the part of the Letter of Credit Issuer as determined by a court of competent jurisdiction.

Agreement to Repay. (a) The Company hereby agrees to reimburse the Letter of Credit Issuer, by making payment to it at the Payment Office, for any payment or disbursement made by the Letter of Credit Issuer under any Letter of Credit and for each Acceptance upon the stated maturity date thereof (each such amount so paid, disbursed or matured until reimbursed, an "Unpaid Drawing") immediately after, and in any event on the date on which, the Company is notified by the Letter of Credit Issuer of such payment, disbursement or maturity, such payment to be made in U.S. dollars (and in the Dollar Equivalent of any such payment, disbursement or matured Acceptance made or denominated in an Alternate Currency), with interest on the amount so paid, disbursed or matured, to the extent not reimbursed prior to 1:00 P.M. (New York time) on the date of such payment, disbursement or maturity, from and including the date paid, disbursed or matured to but not including the date the Letter of Credit Issuer is reimbursed therefor at a rate per annum which shall be the Applicable Base Rate Margin in excess of the Base Rate as in effect from time to time (plus an additional 2% per annum if not reimbursed by the third Business Day after the date of such notice of payment, disbursement or maturity), such interest also to be payable on demand.disbursement (b) The Company's obligation under this Section 2.04 to reimburse the Letter of Credit Issuer with respect to Unpaid Drawings (including, in each case, interest thereon) shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Company may have or have had against the Letter of Credit Issuer, the Agents or any Bank, including, without limitation, any defense based upon the failure of any drawing under a Letter of Credit or AcceptanceAcceptance to conform to the terms of the Letter of Credit or Acceptance or any non-application or misapplication by the beneficiary of the proceeds of such drawing; provided, however, that the Company shall not be obligated to reimburse the Letter of Credit Issuer for any wrongful payment made by the Letter of Credit Issuer under a Letter of Credit or Acceptance as a result of acts or omissions constituting willful misconduct or gross negligence on the part of the Letter of Credit Issuer.