Reimbursement for Draws. From and after the Closing Date, (i) the Purchaser will be obligated to fund all Draws as required under the terms of the agreements related to the Securitization Transactions included on Schedule 1.01(b), and (ii) the Seller will be obligated to reimburse the Purchaser for such Draws, in each case as set forth in the term sheet attached hereto as Exhibit C and the more detailed definitive documentation executed pursuant thereto. For the avoidance of doubt, the obligations, terms and commitments set forth in the term sheet attached hereto as Exhibit C are binding obligations of the parties hereto as if they were set forth in full herein, notwithstanding any delay in executing or failure to execute more detailed definitive documentation as contemplated therein.
Reimbursement for Draws. The obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application.
Reimbursement for Draws. If the Issuing Bank shall pay any draft presented under a Letter of Credit under circumstances entitling it to reimbursement under the applicable Reimbursement Agreement, the Borrowers shall promptly pay to the Issuing Bank the amount of any such draft, and shall make all other payments required by, and comply with all other terms and conditions of, the applicable Reimbursement Agreement. With respect to any such payment which becomes due under the terms of this Section 2.3(h), the Borrowers authorize the Agent, at its option, to cause such payment to be made when due by charging such payment as an advance under the Revolving Credit Loans.
