Common use of Notice by Issuing Lenders of Drawings Clause in Contracts

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuing Lender shall promptly notify the Borrower (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower copies of documents delivered by the beneficiary with such demand and advise the Borrower of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower hereby unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which such Issuing Lender shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind and (ii) pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b).

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable respective Issuing Lender shall promptly notify the Borrower Company (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower Company copies of documents delivered by the beneficiary with such demand and advise the Borrower Company of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower Notwithstanding the identity of the account party of any Letter of Credit, the Company hereby unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which such Issuing Lender shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind and kind, provided that to the extent the Company shall fail to pay any amount required to be paid pursuant to this paragraph (iic) on the due date therefor, the Company shall pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the such due date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b2.07(b).

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuing Lender shall promptly notify the Borrower (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower copies of documents delivered by the beneficiary with such demand and advise the Borrower of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower hereby irrevocably, absolutely and unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which such Issuing Lender shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind (all of which are hereby expressly waived) and (ii) pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b).

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable respective Issuing Lender shall promptly notify the Borrower (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower copies of documents delivered by the beneficiary with such demand and advise the Borrower of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower hereby unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which such Issuing Lender Bank shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind and (ii) pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b).

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuing Lender shall promptly notify the Borrower (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower copies of documents delivered by the beneficiary with such demand and advise the Borrower of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower hereby irrevocably, absolutely and unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which [[NYCORP:3318923v15:3100C: 06/26/2012--05:12 p]] such Issuing Lender shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind (all of which are hereby expressly waived) and (ii) pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b).

Notice by Issuing Lenders of Drawings. Upon receipt from the beneficiary of any Letter of Credit of any demand for payment under such Letter of Credit, the applicable Issuing Lender shall promptly notify the Borrower (through the Administrative Agent) of the amount to be paid by such Issuing Lender as a result of such demand, provide to the Borrower copies of documents delivered by the beneficiary with such demand and advise the Borrower of the date on which payment is to be made by such Issuing Lender to such beneficiary in respect of such demand. The Borrower hereby unconditionally agrees to (i) pay and reimburse the Administrative Agent forthwith for account of such Issuing Lender for the amount of each demand for payment under such 12:53 p]] Letter of Credit that is in substantial compliance with the provisions of such Letter of Credit at the later of (x) the Business Day on which such Issuing Lender shall have notified the Borrower of such payment and (y) the date on which payment is to be made by such Issuing Lender to the beneficiary thereunder, without presentment, demand, protest or other formalities of any kind and (ii) pay interest to the Administrative Agent for account of such Issuing Lender on such amount from the date such Issuing Lender made the corresponding payment under such Letter of Credit until the date such payment by the Borrower is made at the rate set forth in Section 2.06(b).