Common use of Payment of Amounts Drawn Under Letters of Credit Clause in Contracts

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Agent Bank shall promptly notify the Borrowers and the Banks of such drawing, and the Borrowers shall reimburse the Agent Bank on the date on which such drawing is honored in an amount in same day funds equal to the amount of such drawing. The Borrowers shall have the right to obtain a Revolving Credit Loan (subject to the limitations set forth in Section 0.xX hereof and in the absence of any Event of Default hereunder) in an amount sufficient to repay in full any such drawing honored by the Agent Bank under a Letter of Credit.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Agent Bank shall promptly notify the Borrowers Borrower and the Banks of such drawing, and the Borrowers Borrower shall reimburse the Agent Bank on the date on which such drawing is honored in an amount in same day funds equal to the amount of such drawing. The Borrowers Borrower shall have the right to obtain a Revolving Credit Loan (subject to the limitations set forth in Section 0.xX 2.lA hereof and in the absence of any Event of Default hereunder) in xx an amount sufficient to repay in full any such drawing honored by the Agent Bank under a Letter of Credit.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Agent Bank shall promptly notify the Borrowers Borrower and the Banks of such drawing, and the Borrowers Borrower shall reimburse the Agent Bank on the date on which such drawing is honored in an amount in same day funds equal to the amount of such drawing. The Borrowers Borrower shall have the right to obtain a Revolving Credit Loan (subject to the limitations set forth in Section 0.xX 2.lA hereof and in the absence of any Event of Default hereunder) in an ix xx amount sufficient to repay in full any such drawing honored by the Agent Bank under a Letter of Credit.

Payment of Amounts Drawn Under Letters of Credit. In the event of any drawing under any Letter of Credit by the beneficiary thereof, the Agent Bank shall promptly notify the Borrowers Borrower and the Banks of such drawing, and the Borrowers Borrower shall reimburse the Agent Bank on the date on which such drawing is honored in an amount in same day funds equal to the amount of such drawing. The Borrowers Borrower shall have the right to obtain a Revolving Re-volving Credit Loan (subject to the limitations set forth in Section Sec-tion 0.xX hereof and in the absence of any Event of Default hereunder) in an amount sufficient to repay in full any such drawing honored by the Agent Bank under a Letter of Credit.