Drawings and Reimbursement. (i) In the event of any request for a drawing under any Letter of Credit by the beneficiary thereof, the L/C Issuer shall notify the Borrower and the Administrative Agent as promptly as practicable following receipt of such request, and the Borrower shall reimburse the L/C Issuer on or prior to the third Business Day after the day on which such drawing is honored in an amount in immediately available funds equal to the amount of such drawing.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Winstar Communications Inc), Credit Agreement (Apogee Enterprises Inc)
Drawings and Reimbursement. (i) In the event of any request for a drawing under any Letter of Credit by the beneficiary thereof, the L/C Issuer shall notify the Borrower and the Administrative Agent as promptly as practicable following receipt of such request, and the Borrower shall reimburse the L/C Issuer on or prior to the third Business Day after the day on which such drawing is honored in an amount in of immediately available funds equal to the amount of such drawing.
Appears in 2 contracts
Samples: Credit Agreement (Apogee Enterprises Inc), Subsidiary Guaranty Agreement (Apogee Enterprises Inc)
