Reimbursement Obligation of Borrower. In the event of any drawing under any Letter of Credit, Borrower agrees to reimburse (either with the proceeds of a Revolving Credit Loan as provided for in this Section or with funds from other sources), in same day funds, the applicable Issuing Lender on each date on which such Issuing Lender notifies Borrower of the date and amount of a draft paid by it under any Letter of Credit for the amount of (a) such draft so paid and (b) any amounts referred to in Section 3.3(c) incurred by such Issuing Lender in connection with such payment. Unless Borrower shall immediately notify such Issuing Lender that Borrower intends to reimburse such Issuing Lender for such drawing from other sources or funds, Borrower shall be deemed to have timely given a Notice of Borrowing to the Administrative Agent requesting that the Lenders make a Revolving Credit Loan bearing interest at the Base Rate on the applicable repayment date in the amount of (i) such draft so paid and (ii) any amounts referred to in Section 3.3(c) incurred by such Issuing Lender in connection with such payment, and the Lenders shall make a Revolving Credit Loan bearing interest at the Base Rate in such amount, the proceeds of which shall be applied to reimburse such Issuing Lender for the amount of the related drawing and such fees and expenses. Each Lender acknowledges and agrees that its obligation to fund a Revolving Credit Loan in accordance with this Section to reimburse such Issuing Lender for any draft paid under a Letter of Credit issued by it is absolute and unconditional and shall not be affected by any circumstance whatsoever, including, without limitation, non-satisfaction of the conditions set forth in Section 2.3(a) or Article VI. If Borrower has elected to pay the amount of such drawing with funds from other sources and shall fail to reimburse such Issuing Lender as provided above, the unreimbursed amount of such drawing shall bear interest at the rate which would be payable on any outstanding Base Rate Loans which were then overdue from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full.
Reimbursement Obligation of Borrower. Borrower hereby agrees to reimburse Agent: (i) on each date on which a draft is presented for payment on the Letters of Credit (x) the amount of the draft paid by the Agent under the Letters of Credit and (y) the amount of any taxes (other than income taxes), fees, charges or other costs or expenses whatsoever incurred by Agent under, or with respect to the Letters of Credit; and (ii) upon the acceleration of the Loans in accordance with Section 8.2. hereof, an amount equal to the Reimbursement Obligation. Payments of the Reimbursement Obligation shall be made by Lenders making a Revolving Advance of the Revolving Loan. All amounts remaining unpaid by Borrower under this Section 2A.2. shall bear interest from the date such amounts become payable (whether as stated, by acceleration or otherwise) until payment in full, at the Default Rate, and such interest shall be payable by Borrower to Agent on each Business Day.
Reimbursement Obligation of Borrower. Borrower agrees to reimburse each Issuing Lender through Administrative Agent if so requested by Administrative Agent on the Business Day next succeeding the Business Day on which such Issuing Lender notifies Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment. Each such payment shall be made to an Issuing Lender or Administrative Agent at its address for notices referred to herein in Dollars and in immediately available funds. To the extent that any such amount is not reimbursed to an Issuing Lender by 2 p.m. (New York City time) on the date of payment, interest shall be payable on any such amounts from the date on which the relevant draft is paid until payment in full (i) at the rate set forth in Section 2.11(b) until the Business Day next succeeding the date of the relevant notice, and (ii) thereafter, at the rate set forth in Section 2.11(c). Each Issuing Lender shall give Borrower written notice of the payment of each draft under a Letter of Credit.
Reimbursement Obligation of Borrower. The Borrowers agree jointly and severally to reimburse the Lender with respect to each draft presented under any Letter of Credit and paid by the Lender for the amount of (a) such draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by the Lender in connection with such payment, such reimbursement (i) on the same date as such draft if oral notice thereof is given to the Borrowers by 11:00 a.m. (Boston time) on such date, or (ii) on next Business Day if such oral notice thereof is given to the Borrower after 11:00 a.m. (Boston time). Each such payment shall be made to the Lender at its address for notices specified herein in lawful money of the United States and in immediately available funds. Interest shall be payable jointly and severally on any and all amounts remaining unpaid by the Borrowers under this Section from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full at the rate set forth in (i) until the second Business Day following the date of the applicable drawing, Section 1.8(b) and (ii) thereafter, Section 1.8(c).
Reimbursement Obligation of Borrower. If any draft is paid under any Letter of Credit, Borrower shall reimburse Issuing Lender for the amount of (a) the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by Issuing Lender in connection with such payment, not later than 12:00 Noon, Seattle time, on (i) the Business Day that Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 a.m., Seattle time, or (ii) if clause (i) above does not apply, the Business Day immediately following the day that Borrower receives such notice. Each such payment shall be made to Issuing Lender at its address for notices referred to herein in Dollars and in immediately available funds. Interest shall be payable on any such amounts from the date on which the relevant draft is paid until payment in full at the default rate set forth in Section 4.5.
Reimbursement Obligation of Borrower. Borrower hereby agrees to reimburse or pay to Lender with respect to each Letter of Credit on each date that any draft presented under any Letter of Credit is honored by Lender (or Lender otherwise makes payment with respect thereto), the following amounts:
Reimbursement Obligation of Borrower. If any draft is presented for payment under any Letter of Credit, the Issuing Lender shall notify Borrower and Administrative Agent of the date and the amount thereof. Borrower agrees to reimburse the Issuing Lender (whether with its own funds or with proceeds of Loans), within two Business Days after notice that the Issuing Lender paid a draft so presented under any Letter of Credit, for the amount of (i) the draft so paid and (ii) any taxes, fees, charges, or other costs or expenses incurred by the Issuing Lender in connection with the payment. Each payment shall be made to the Issuing Lender at its address for notices specified herein in lawful money of the United States of America and in immediately available funds. Interest shall be payable on any and all amounts remaining unpaid by Borrower under this subsection from the date of payment of the applicable draft until payment in full thereof, (x) for the period commencing on the date of payment of the applicable draft to the date which is three days after notice of payment of the draft, at the Adjusted Base Rate at that time and (y) thereafter, at the Adjusted Base Rate at that time plus 2%.
Reimbursement Obligation of Borrower. If Lender honors any draw request under, and makes payment in respect of, a Letter of Credit, (a) Borrower will promptly reimburse Lender for such amount and (b) Borrower will be deemed to have immediately requested that Lender make a Revolving Loan in a principal amount equal to the such amount (but solely to the extent Borrower fails to directly reimburse Lender for the amount of such payment). Lender hereby agrees to apply the gross proceeds of each Revolving Loan deemed made pursuant to this Section 10 in satisfaction of Borrower’s reimbursement obligations arising pursuant to this Section 10.
Reimbursement Obligation of Borrower. If any draft is paid under any Letter of Credit, Borrower shall reimburse Issuing Lender for the amount of (a) the draft so paid and (b) any taxes, fees, charges or other costs or expenses incurred by Issuing Lender in connection with such payment, not later than 12:00 Noon, Seattle time, on (i) the Business Day that Borrower receives notice of such draft, if such notice is received on such day prior to 10:00 a.m., Seattle time, or (ii) if clause (i) above does not apply, the Business Day immediately following the day that Borrower receives such notice. Each such payment shall be made to Issuing Lender at its address for notices referred to herein in Dollars and in immediately available funds. Interest shall be payable on any such amounts from the date on which the relevant draft is paid until payment in full at the Daily Reset LIBOR Rate plus the Applicable Margin, unless the default rate set forth in Section 5.5 is applicable.
Reimbursement Obligation of Borrower. If the Bank shall honor any draw request under, and make payment in respect of, any Letter of Credit, (a) Borrower shall reimburse the Bank for the amount of such payment by the end of the Business Day on which the Bank makes such payment and (b) Borrower shall be deemed to have immediately requested that a Loan be made to it in the amount equal to the amount of such payment (but solely to the extent Borrower shall have failed to directly reimburse the Bank for the amount of such payment). To the extent that such Loan shall cause the Borrower to exceed the Borrowing Base, Borrower shall forthwith pay the Bank sufficient funds to reduce the balance of the Operating Note.
