Examples of Reimbursement Borrowing in a sentence
Such participations in such LC Credit Extensions by each Committed Lender shall constitute an agreement by such Committed Lender to make a Loan under Section 2.02 only in the event that (i) the related Letter of Credit is subsequently drawn upon and (ii) the Conduit Lenders in its Lender Group do not fund the Lender Group Percentage of a Reimbursement Borrowing in connection with such draw.
If a Conduit Lender chooses not to fund a Loan or a Reimbursement Borrowing under Section 2.04, its ratable share of the Loan or the Reimbursement Borrowing (in accordance with its Lender Group Percentage) shall be funded by the related Committed Lenders in its Lender Group.
The failure of any Committed Lender to make Loans or to fund Reimbursement Borrowings hereunder shall not release the obligations of any other Committed Lender to make Loans or to fund Reimbursement Borrowings hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan or to fund a Reimbursement Borrowing hereunder.SECTION 2.02.
The failure of any Committed Lender to make Loans or to fund Reimbursement Borrowings hereunder shall not release the obligations of any other Committed Lender to make Loans or to fund Reimbursement Borrowings hereunder, but no Committed Lender shall be responsible for the failure of any other Committed Lender to make any Loan or to fund a Reimbursement Borrowing hereunder.
In addition, subject to the applicable conditions to Borrowing set forth in the Revolving Note Purchase Agreements, the Issuer may effect an LC Reimbursement Borrowing to enable it to make an LC Reimbursement (and to pay accrued interest on unreimbursed drawings thereunder) and, in certain circumstances, an LC Issuing Bank may request an LC Reimbursement Borrowing on behalf of the Issuer to make an LC Reimbursement owing to such LC Issuing Bank.