Unpaid Reimbursement Obligation definition

Unpaid Reimbursement Obligation. Any Reimbursement Obligation for which GWI does not reimburse the Issuing Lender and the Applicable Lenders on the date specified in, and in accordance with, §5.3.

Unpaid Reimbursement Obligation. Any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Revolving Credit Lenders on the date specified in, and in accordance with Section 2.20.

Unpaid Reimbursement Obligation shall have the meaning set forth in Section 2.9(g).

Examples of Unpaid Reimbursement Obligation in a sentence

• In such event, the applicable Borrower shall be deemed to have requested a Revolving Credit Loan which is a Base Rate Loan to be disbursed on the Honor Date in an amount equal to the Unpaid Reimbursement Obligation, without regard to the minimum and multiples specified in §2.6 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Total Commitment and the conditions set forth in §12 (other than the delivery of a Loan Request).

• If the Borrower fails to reimburse the Agent as provided in Section 4.2 on or before the date that such draft is paid or other payment is made by the Agent, the Agent may at any time thereafter notify the Banks of the amount of any such Unpaid Reimbursement Obligation.

• If the applicable Borrower fails to so reimburse the Issuing Bank by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the Unpaid Reimbursement Obligation (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in an Alternative Currency), and the amount of such Lender’s Commitment Percentage thereof.

• In such event, the Borrower shall be deemed to have made a Loan Request which shall be for a Base Rate Loan to be disbursed on the Honor Date in an amount equal to the Unpaid Reimbursement Obligation, without regard to the minimum and multiples specified herein for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Total Commitment and the conditions set forth in Section 12.

• On the date that such draft is paid or other payment is made by the Issuing Lender, the Issuing Lender shall promptly notify the Lenders of the amount of any Unpaid Reimbursement Obligation.

More Definitions of Unpaid Reimbursement Obligation

Unpaid Reimbursement Obligation means any Reimbursement Obligation for which the Borrower does not reimburse the Lenders on the date specified in, and in accordance with, Section 3.2.

Unpaid Reimbursement Obligation means any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Banks on the date specified in, and in accordance with Section 2.18.

Unpaid Reimbursement Obligation has the meaning assigned to such term in Section 2.2(c). Solely for purposes of calculating the L/C Obligations and any component thereof, Reimbursement Obligations which have been paid by application of proceeds of Collateral by the Issuer shall not constitute Unpaid Reimbursement Obligations;

Unpaid Reimbursement Obligation shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. Any notice given by the Issuer pursuant to this Section 2.2 may be given by telephone if immediately confirmed in writing; provided that the lack of such confirmation shall not affect the conclusiveness or binding effect of such notice.

Unpaid Reimbursement Obligation has the meaning set forth in Section 2.2(e) of this Agreement.

Unpaid Reimbursement Obligation means any obligation of the Company to reimburse Fleet on account of any drawings under any Letter of Credit or L/C Draft as provided in Section 2.03(c) for which the Company has not reimbursed Fleet on the date specified in Section 2.03(c).

Unpaid Reimbursement Obligation means any Reimbursement Obligation for which the Borrower does not reimburse the Applicable Issuing Party and/or the Lenders, as applicable on the date specified in, and in accordance with, Section 2.2; provided however that solely for purposes of calculating the Total Outstandings and any component thereof, Reimbursement Obligations which have been paid by application of proceeds of Pledged Collateral by the Administrative Agent shall not constitute Unpaid Reimbursement Obligations. United States and U.S. mean the United States of America.