LC Payment Notice has the meaning specified in Section 2.04(e).
LC Payment Notice no later than 12:00 noon (New York City Time) on the Business Day immediately succeeding the date of such payment by such LC Issuing Bank. Each Lender shall fund the participation that such Lender purchased pursuant to Section 2.04(a) by paying to the Administrative Agent for the account of such LC Issuing Bank an amount equal to such Lender’s Commitment Percentage of such Reimbursement Amount paid by such LC Issuing Bank, plus interest on such amount at a rate per annum equal to the Federal Funds Effective Rate, for the first three days from the date of the payment by such LC Issuing Bank, and, thereafter, until the date of payment to such LC Issuing Bank by such Lender, at a rate of interest equal to the rate applicable to Base Rate Loans. Each such payment by a Lender shall be made not later than 3:00 P.M. (New York City Time) on the later to occur of (i) the Business Day immediately following the date of such payment by such LC Issuing Bank and (ii) the Business Day on which such Lender shall have received an LC Payment Notice from such LC Issuing Bank. Each Lender’s obligation to make each such payment to the Administrative Agent for the account of such LC Issuing Bank shall be several and shall not be affected by the occurrence or continuance of a Default or the failure of any other Lender to make any payment under this Section 2.04(e). Each Lender further agrees that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.
LC Payment Notice has the meaning assigned to that term in Section 4.04(b).
More Definitions of LC Payment Notice
LC Payment Notice is defined in Section 2.03(d).
LC Payment Notice shall have the meaning assigned to such term in Section 2.17(d).
LC Payment Notice has the meaning provided in Section 3.03(a) (Reimbursement to Senior Issuing Banks).
LC Payment Notice is defined in Section 2.4(d).
LC Payment Notice is defined in Section 4.04(b).
LC Payment Notice shall have the meaning assigned such term in Section 2.09(c).
LC Payment Notice has the meaning specified in Section 2.04(e). 1 RBC Capital Markets is a brand name for the capital markets business of Royal Bank of Canada and its affiliates.