Common use of Reimbursement Obligations Clause in Contracts

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 15 contracts

Samples: Credit Agreement (Huron Consulting Group Inc.), Loan and Security Agreement (Material Sciences Corp), Credit Agreement (Aar Corp)

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Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, 2%. The applicable Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 4 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc), Credit Agreement (Regal Beloit Corp)

Reimbursement Obligations. (a) The Company Borrower hereby unconditionally and irrevocably agrees to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the such Issuing Lender of such payment or disbursement, 2%. The Each Issuing Lender shall notify the Company Borrower and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company Borrower or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 3 contracts

Samples: Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp)

Reimbursement Obligations. (a) The Company Borrowers hereby unconditionally and irrevocably agrees agree to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall will bear interest from the date of such that payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company Borrowers therefor, payable on demand, at a rate per annum equal to the interest rate applicable to Revolving Loans that are Base Rate from time to time in effect Loans plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 22.00%. The Each Issuing Lender shall notify the Company Borrower Representative and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company Borrower Representative or the Administrative Agent shall will not affect the rights of the any Issuing Lender or the Lenders any Lender in any manner whatsoever.

Appears in 3 contracts

Samples: Credit Agreement (AgileThought, Inc.), Credit Agreement (AgileThought, Inc.), Credit Agreement (LIV Capital Acquisition Corp.)

Reimbursement Obligations. (a) The Company hereby unconditionally and ------------------------- irrevocably agrees to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in ---- effect plus, beginning on the third three Business Day after receipt of notice from ---- the Issuing Lender Bank of such payment or disbursement, 2%. The applicable Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided provided, -------- however, that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent shall ------- not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 2 contracts

Samples: Credit Agreement (United Road Services Inc), Credit Agreement (United Road Services Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Floating Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The applicable Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided provided, that the failure of the such Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 2 contracts

Samples: Credit Agreement (Nu Skin Enterprises Inc), Credit Agreement (Nu Skin Enterprises Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 2 contracts

Samples: Credit Agreement (World Fuel Services Corp), Credit Agreement (Proquest Co)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, two percent (2%). The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 2 contracts

Samples: Credit Agreement (Huron Consulting Group Inc.), Credit Agreement (Huron Consulting Group Inc.)

Reimbursement Obligations. (ai) The Company Borrower hereby unconditionally and irrevocably agrees to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the such Issuing Lender of such payment or disbursement, 2%. The Each Issuing Lender shall notify the Company Borrower and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company Borrower or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 2 contracts

Samples: Credit Agreement (A-Mark Precious Metals, Inc.), Credit Agreement (A-Mark Precious Metals, Inc.)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender Bank for each payment or disbursement made by the Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus PLUS the Base Rate Margin from time to time in effect plusPLUS, beginning on the third Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, 2%. The Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided PROVIDED, HOWEVER, that the failure of the Issuing Lender Bank to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus PLUS the Base Floating Rate Margin from time to time in effect plusPLUS, beginning on the third three Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, 2%. The applicable Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided PROVIDED, HOWEVER, that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (U S Liquids Inc)

Reimbursement Obligations. (a) The Company Loan Parties hereby unconditionally and irrevocably agrees agree to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Loan Parties therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Option Care Inc/De)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the such Issuing Lender of such payment or disbursement, 2%. The Each Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Andalusian Credit Company, LLC)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent Lender whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Meadowbrook Insurance Group Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Alternate Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Cupertino Electric Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.. 23

Appears in 1 contract

Samples: Credit Agreement (Cpi Corp)

Reimbursement Obligations. (a) The Company Borrowers hereby unconditionally and irrevocably agrees agree to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrowers 14766353\V-9 therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent Borrower Representative whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent Borrower Representative shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Westell Technologies Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The applicable Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the such Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Middleby Corp)

Reimbursement Obligations. (a) The Each Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the applicable Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the applicable Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the applicable Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Akorn Inc)

Reimbursement Obligations. (a) The Company Borrowers hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrowers therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 22.0%. The Issuing Lender shall notify the Company and the Administrative Agent Borrowers whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent Borrowers shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Loan and Security Agreement (Kingsway Financial Services Inc)

Reimbursement Obligations. (a) The Company Companies jointly and severally hereby unconditionally and irrevocably agrees agree to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Companies therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company Representative and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company Representative or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Uti Worldwide Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus PLUS the Base Floating Rate Margin from time to time in effect plusPLUS, beginning on the third fourth Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, 2%. The applicable Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided PROVIDED, HOWEVER, that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (U S Liquids Inc)

Reimbursement Obligations. (a) The Company Borrowers hereby jointly and severally and unconditionally and irrevocably agrees agree to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrowers therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Ptek Holdings Inc)

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Reimbursement Obligations. (a) The Company Borrowers hereby unconditionally and irrevocably agrees agree to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Base Prime Rate from time to time in effect plus the Base Prime Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, two (2%) percent. The applicable Issuing Lender Bank shall notify the Company Borrowers and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided provided, however, that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent Borrowers shall not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Bogen Communications International Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the such Issuing Lender of such payment or disbursement, 2%. The Each Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Morgan Stanley Direct Lending Fund)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement distribution shall bear interest from and including the date of such payment or disbursement to but not including the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the sum of Alternate Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plusPLUS 3% (PLUS, beginning on the third first Business Day after receipt of notice from demand by the Issuing Lender of such payment or disbursementLender, an additional 2%). The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided PROVIDED, HOWEVER, that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (U S Aggregates Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Applicable Margin for Floating Rate Margin Loans from time to time in effect plus, beginning on the third Business Day after receipt of notice from the such Issuing Lender of such payment or disbursement, 2%. The applicable Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided provided, that the failure of the such Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Assignment Agreement (Nu Skin Enterprises Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender Bank for each payment or disbursement made by the such Issuing Lender Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender Bank is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus PLUS the Base Rate Margin from time to time in effect plusPLUS, beginning on the third Business Day after receipt of notice from the Issuing Lender Bank of such payment or disbursement, 2%. The applicable Issuing Lender Bank shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided PROVIDED that the failure of the such Issuing Lender Bank to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender Bank or the Lenders Banks in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (U S Plastic Lumber Corp)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The applicable Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the such Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.. 26 2.3.4

Appears in 1 contract

Samples: Credit Agreement (Middleby Corp)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the applicable Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the such Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The applicable Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the such Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.. 2.3.4

Appears in 1 contract

Samples: Credit Agreement (Middleby Corp)

Reimbursement Obligations. (a) The Company Borrower hereby unconditionally and irrevocably agrees to reimburse the each Issuing Lender for each payment or disbursement made by the such Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the applicable Issuing Lender is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of written notice from the such Issuing Lender of such payment or disbursement, 2%. The Each Issuing Lender shall notify the Company Borrower and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the an Issuing Lender to so notify the Company Borrower or the Administrative Agent shall not affect the rights of the such Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Infrastructure & Energy Alternatives, Inc.)

Reimbursement Obligations. (a) The Company Each Borrower hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrowers therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company Borrowers and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company Borrowers or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Clark Holdings Inc.)

Reimbursement Obligations. (a) The Company Each of the Borrowers hereby jointly and severally unconditionally and irrevocably agrees to reimburse the Issuing Lender Fronting Bank for each payment or disbursement made by the Issuing Lender Fronting Bank under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender Fronting Bank is reimbursed by the Company any Borrower therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender Fronting Bank of such payment or disbursement, 2%. The Issuing Lender Fronting Bank shall notify the Company Loan Party Representative and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender Fronting Bank to so notify the Company Loan Party Representative or the Administrative Agent shall not affect the rights of the Issuing Lender Fronting Bank or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Russ Berrie & Co Inc)

Reimbursement Obligations. (a) The Company Each Borrower hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrowers therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company Borrower Representative and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent Borrower Representative shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Reinhold Industries Inc/De/)

Reimbursement Obligations. (a) The Company Borrower hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Derived Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, two percent (2%). The Issuing Lender shall notify the Company Borrower and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company Borrower or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Net Perceptions Inc)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

Reimbursement Obligations. (a) The Company Borrower hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company Borrower therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company Borrower and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company Borrower or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (American Railcar Industries, Inc.)

Reimbursement Obligations. (a) The Company hereby unconditionally and irrevocably agrees to reimburse the Issuing Lender for each payment or disbursement made by the Issuing Lender under any Letter of Credit honoring any demand for payment made by the beneficiary thereunder, in each case on the date that such payment or disbursement is made. Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%. The Issuing Lender shall notify the Company and the Administrative Agent whenever any demand for payment is made under any Letter of Credit by the beneficiary thereunder; provided that the failure of the Issuing Lender to so notify the Company or the Administrative Agent shall not affect the rights of the Issuing Lender or the Lenders in any manner whatsoever.

Appears in 1 contract

Samples: Credit Agreement (Global Technovations Inc)

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