Common use of Tranche B Clause in Contracts

Tranche B. The Borrowers hereby agree to pay to the Issuing Lender an amount equal to any amount paid by the Issuing Lender under the Tranche B Letter of Credit, which amount shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under the Tranche B Letter of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and may request that the Tranche B Lenders fund its risk participation in the Tranche B Letter of Credit. If such request is made by the Issuing Lender, the Administrative Agent shall promptly notify each Tranche B Lender of such request and the amount necessary to fund such Tranche B Lender’s risk participation in the Tranche B Letter of Credit. Upon such notice from the Administrative Agent, each Tranche B Lender shall promptly fund such risk participation directly to the Issuing Lender. If such funding is not made by any Tranche B Lender to the Issuing Lender on the same day on which the Administrative Agent notifies such Tranche B Lender to fund its risk participation to the Issuing Lender hereunder, such Tranche B Lender shall pay interest on the unpaid amount to the Issuing Lender at a rate per annum equal to the Federal Funds Rate.