Common use of Letter of Credit Drawings and Reimbursements Clause in Contracts

Letter of Credit Drawings and Reimbursements. The Borrower hereby agrees to reimburse the Lender, by making payment to the Lender in accordance with Section 2.9(a), on the date and in the amount of each payment made by the Lender under any Letter of Credit, upon notice (which may be by telephone) by the Lender to the Borrower of such payment, without further notice, protest or demand, all of which are hereby waived, and an action therefor shall thereupon immediately accrue. To the extent such payment is not timely made, the Borrower hereby agrees to pay to the Lender on demand, interest on any Letter of Credit Unreimbursed Draws for each day from and including the date of such payment by the Lender until reimbursed in full (before and after judgment), in accordance with Section 2.9(b), at the rate per annum set forth in Section 2.9(b).

Letter of Credit Drawings and Reimbursements. The Borrower hereby agrees to reimburse the Lender, by making payment to the Lender in accordance with Section 2.9(a2.11(a), on the date and in the amount of each payment made by the Lender under any Letter of Credit, upon notice (which may be by telephone) by the Lender to the Borrower of such payment, without further notice, protest or demand, all of which are hereby waived, and an action therefor shall thereupon immediately accrue. To the extent such payment is not timely made, the Borrower hereby agrees to pay to the Lender on demand, interest on any Letter of Credit Unreimbursed Draws for each day from and including the date of such payment by the Lender until reimbursed in full (before and after judgment), in accordance with Section 2.9(b2.11(b), at the rate per annum set forth in Section 2.9(b2.11(b).