Common use of Reimbursement and Participations Clause in Contracts

Reimbursement and Participations. (i) The Borrower hereby unconditionally agrees to pay to the Issuing Lender immediately on demand all amounts required to pay all drafts drawn or purporting to be drawn under the Letters of Credit and all reasonable expenses incurred by the Issuing Lender in connection with the Letters of Credit, and in any event and without demand to place in possession of the Issuing Lender sufficient funds to pay all debts and liabilities arising under any Letter of Credit. The Issuing Lender agrees to give the Borrower prompt notice of any request for a draw under a Letter of Credit. The Issuing Lender may charge any account the Borrower may have with it for any and all amounts the Issuing Lender pays under a Letter of Credit, plus charges and reasonable expenses as from time to time agreed to by the Issuing Lender and the Borrower; provided, that at Agent’s election, such amounts may be paid by the making of Revolving Loans without notice to or consent of the Borrower. The Borrower agrees to pay the Issuing Lender interest on any Reimbursement Obligations not paid according to any method referenced in this Section 2.12(b)(i) when due hereunder at the Default Rate.

Reimbursement and Participations. (i) The Borrower hereby unconditionally agrees to pay to the Issuing Lender Bank immediately on demand all amounts required to pay all drafts drawn or purporting to be drawn under the Letters of Credit and all reasonable expenses incurred by the Issuing Lender Bank in connection with the Letters of Credit, and in any event and without demand to place in possession of the Issuing Lender Bank sufficient funds to pay all debts and liabilities arising under any Letter of Credit. The Issuing Lender Bank agrees to give the Borrower prompt notice of any request for a draw under a Letter of Credit. The Issuing Lender Bank may charge any account the Borrower may have with it for any and all amounts the Issuing Lender Bank pays under a Letter of Credit, plus charges and reasonable expenses as from time to time agreed to by the Issuing Lender Bank and the Borrower; provided, that at Agent’s election, such amounts may be paid by the making of Revolving Loans without notice to or consent of the Borrower. The Borrower agrees to pay the Issuing Lender Bank interest on any Reimbursement Obligations not paid according to any method referenced in this Section 2.12(b)(i2.10(b)(i) when due hereunder at the Default Rate.