Reimbursement Obligations of the Borrowers. The Borrowers agree to pay to the L/C Issuer of any Letter of Credit each L/C Reimbursement Obligation owing with respect to such Letter of Credit no later than the first Business Day after the Borrowers or the Borrower Representative receive notice from such L/C Issuer that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the “L/C Reimbursement Date”) with interest thereon computed as set forth in clause (A) below. In the event that any L/C Issuer incurs any L/C Reimbursement Obligation not repaid by the Borrowers as provided in this clause (v) (or any such payment by the Borrowers is rescinded or set aside for any reason), such L/C Issuer shall promptly notify the Agent of such failure (and, upon receipt of such notice, the Agent shall forward a copy to each Revolving Lender) and, irrespective of whether such notice is given, such L/C Reimbursement Obligation shall be payable on demand by the Borrowers with interest thereon computed (A) from the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date, at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans and (B) thereafter until payment in full, at the interest rate applicable during such period to past due Revolving Loans that are Base Rate Loans.
Reimbursement Obligations of the Borrowers. (a) Upon receipt by the relevant Issuing Lender from the beneficiary of any Letter of Credit of any notice of a drawing or demand for payment under such Letter of Credit, such Issuing Lender shall promptly notify the Borrowers’ Agent and the Administrative Agent thereof. If the Borrowers’ Agent receives notice (confirmed by telephone) from such Issuing Lender of a drawing or demand for payment under a Letter of Credit prior to 1:00 p.m. (New York City time), on any Business Day, the Borrowers shall reimburse such Issuing Lender on such Business Day for the Unreimbursed Amount of such Letter of Credit. If the Borrowers’ Agent receives notice (confirmed by telephone) from such Issuing Lender of a drawing or demand for payment under a Letter of Credit at or after 1:00 p.m. (New York City time), on any Business Day, the Borrowers shall so reimburse such Issuing Lender on the Business Day immediately following the Business Day upon which such notice was received by the Borrowers’ Agent. Such reimbursement shall be made directly to such Issuing Lender in an amount in United Stated Dollars equal to (i) the amount so paid and (ii) any Non-Excluded Taxes and any reasonable fees, charges or other costs or expenses incurred by such Issuing Lender at its Applicable Lending Office in immediately available funds (such amount that has not been reimbursed by the Borrowers being, the “Unreimbursed Amount”).
Reimbursement Obligations of the Borrowers. (a) Upon receipt by the relevant Issuing Lender from the beneficiary of any Letter of Credit of any notice of a drawing or demand for payment under such Letter of Credit, such Issuing Lender shall promptly notify the applicable Borrower that requested such Letter of Credit and the Administrative Agent (or in the case of Letters of Credit denominated in Canadian Dollars, the Canadian Agent) thereof. If such Borrower receives notice (confirmed by telephone) from such Issuing Lender of a drawing or demand for payment under a Letter of Credit prior to 1:00 p.m. (New York City time), on any Business Day, such Borrower shall reimburse such Issuing Lender on such Business Day for the Unreimbursed Amount of such Letter of Credit. If such Borrower receives notice (confirmed by telephone) from such Issuing Lender of a drawing or demand for payment under a Letter of Credit at or after 1:00 p.m. (New York City time), on any Business Day, such Borrower shall so reimburse such Issuing Lender on the Business Day immediately following the Business Day upon which such notice was received by such Borrower. Such reimbursement shall be made directly to such Issuing Lender in the currency in which such Letter of Credit was drawn in an amount equal to (i) the amount so paid and (ii) any Non-Excluded Taxes and any reasonable fees, charges or other costs or expenses incurred by such Issuing Lender at its Applicable Lending Office in immediately available funds (such amount that has not been reimbursed by the applicable Borrower being, the “Unreimbursed Amount”). (b) If the applicable Borrower fails to fully reimburse any Issuing Lender pursuant to Section 3.7(a) at the time and on the due date specified in such Section (the “Reimbursement Date”), such Issuing Lender shall so notify the Administrative Agent or (with respect to Letters of Credit denominated in Canadian Dollars) the Canadian Agent (with a copy to the applicable Borrower), which notice shall be provided on a Business Day, and specify in such notice the amount (and currency) of the Unreimbursed Amount. Immediately upon receipt of such notice from such Issuing Lender, the Administrative Agent or Canadian Agent, as applicable, shall notify each Relevant L/C Participant of the Reimbursement Date, the Unreimbursed Amount, and the amount (and currency) of such Relevant L/C Participant’s Commitment Percentage thereof. (c) If there shall be any Unreimbursed Amounts owing to any Issuing Lender on or after such Unreimbursed Am...
Reimbursement Obligations of the Borrowers. In order to induce the Administrative Agent to issue, extend and renew each Letter of Credit and the Lenders to participate therein, the Borrowers hereby jointly and severally agree to reimburse or pay to the Administrative Agent, for the account of the Administrative Agent or (as the case may be) the Lenders, with respect to each Letter of Credit issued, extended or renewed by the Administrative Agent hereunder,
Reimbursement Obligations of the Borrowers. In order to induce the Issuing Lender to issue, extend and renew Letters of Credit and the Lenders to participate therein, the Borrowers hereby jointly and severally agree to reimburse or pay to the Issuing Lender with respect to each Letter of Credit issued, extended or renewed by the Issuing Lender hereunder as follows:
Reimbursement Obligations of the Borrowers. (a) The Borrowers jointly and severally agree to reimburse each Issuing Bank on each date on which such Issuing Bank notifies Texadian of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Bank or, if later than the date of such notification, on each date that such draft is paid by such Issuing Bank for the amount of (1) such draft so paid and (2) any taxes and any reasonable fees, charges or other costs or expenses incurred by such Issuing Bank at its address for notices specified herein in lawful money of the United States of America and in immediately available funds.
Reimbursement Obligations of the Borrowers. (a) Each Borrower agrees to reimburse the Issuing Bank on each date on which the Issuing Bank notifies such Borrower of the date and amount of a draft presented under any Letter of Credit and paid by the Issuing Bank for the amount of (i) such draft so paid and (ii) any taxes, fees, charges or other costs or expenses incurred by the Issuing Bank in connection with such payment. Each such payment shall be made to the Issuing Bank at its address for notices specified herein in lawful money of the United States of America and in immediately available funds.
Reimbursement Obligations of the Borrowers. If Agent shall make a payment to an LC Issuer pursuant to a Support Agreement, the Borrowers shall promptly reimburse Agent for the amount of such payment and, to the extent that so doing would not, to Agent’s knowledge, cause the Revolving Loan Outstandings to exceed the Revolving Loan Limit, the Borrowers shall be deemed to have requested a Revolving Loan, the proceeds of which will be used to satisfy such Reimbursement Obligations. The Borrowers shall pay interest, on demand, on all amounts so paid by Agent for each day until the Borrowers reimburse Agent therefor at a rate per annum equal to the sum of two percent (2%) plus the interest rate applicable to Revolving Loans (which are Prime Rate Loans) for such day, but in no event in excess of the Maximum Lawful Rate.
Reimbursement Obligations of the Borrowers. The Borrowers agree to pay to L/C Issuer, or to Administrative Agent for the benefit of L/C Issuer, any L/C Reimbursement Obligation owing no later than the first Business Day after Borrower Agent receives notice demanding payment thereof from such L/C Issuer or Administrative Agent (the “L/C Reimbursement Date”). Such L/C Reimbursement Obligation shall be payable by the Borrowers on demand with interest thereon computed (i) from the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date, at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans and (ii) thereafter until payment in full, at the Default Rate.
Reimbursement Obligations of the Borrowers. The Borrowers jointly and severally, unconditionally and irrevocably promise to reimburse the Issuing Bank on each date on which either the Issuing Bank or the Administrative Agent notifies the Borrowers of an L/C Disbursement for the amount of the L/C Disbursement, including but not limited to the amount of any draft so paid and any taxes, charges, or other costs or expenses incurred by the Issuing Bank in connection with such payment. Each drawing under any Letter of Credit shall be deemed to automatically constitute a request by the Borrowers to the Administrative Agent for an Adjusted Base Rate Borrowing of proceeds of the Revolving Credit Loans in the amount of such drawing to be made on the date on which either the Issuing Bank or the Administrative Agent notifies the Borrowers of the drawing, and the proceeds of such Adjusted Base Rate Borrowing shall be advanced directly by the Administrative Agent to the Issuing Bank for application to the Borrowers’ reimbursement obligations set forth in this Section.
