Common use of ABR Borrowing Clause in Contracts

ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any Letter of Credit on or before the Reimbursement Date, the Administrative Agent shall notify each Lender of such failure, the payment then due from the Borrower in respect of such honored drawing, and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent, in dollars, its Applicable Percentage of the amount then due from the Borrower, in the same manner as provided in Section 2.6 with respect to Loans made by such Lender (and Section 2.6 shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraph), and the Administrative Agent shall promptly remit to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for an honored drawing under a Letter of Credit (other than the funding of a Swing Line Loan or an ABR Borrowing as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such drawing. If any Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any Letter of Credit on or before the Reimbursement Datemake such payment when due, the Administrative Agent shall notify each Lender of such failurethe applicable LC Disbursement, the payment then due from the Borrower in respect of such honored drawing, thereof and such Lender’s 's Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent, in dollars, Agent its Applicable Percentage of the amount payment then due from the Borrower, in the same manner as provided in Section 2.6 2.4 with respect to Loans made by such Lender (and Section 2.6 2.4 shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraphLenders), and the Administrative Agent shall promptly remit pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such the Issuing Bank, then to such Lenders and such the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse an the Issuing Bank for an honored drawing under a Letter of Credit any LC Disbursement (other than the funding of a Swing Line Loan or an ABR Borrowing Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such drawing. If any Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effectLC Disbursement.

ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any make such payment when due and the Borrower is not entitled to make a Borrowing in the amount of such payment, (A) if such payment relates to a Letter of Credit denominated in Canadian Dollars, Euros or Pounds Sterling, automatically and with no further action required, the obligation of the Borrower to reimburse the applicable LC Disbursement shall be permanently converted into an obligation to reimburse the Dollar Equivalent, calculated using the LC Exchange Rates on or before the Reimbursement applicable LC Participation Calculation Date, of such LC Disbursement and (B) in the case of each LC Disbursement, the Administrative Agent shall notify each Lender of such failureLC Disbursement, the Dollar Equivalent of the payment then due from the Borrower in respect of such honored drawing, thereof and such Lender’s 's Applicable Percentage thereof. Promptly following receipt of such notice, and each Lender shall pay to the Administrative Agent, in dollarsAgent on the date such notice is received, its Applicable Percentage of the amount payment then due from the Borrower, in the same manner as provided in Section 2.6 2.04 with respect to Loans made by such Lender (and Section 2.6 2.04 shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraphLenders), and the Administrative Agent shall promptly remit pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any No payment made by a Lender pursuant to this paragraph to reimburse an any Issuing Bank for an honored drawing under a Letter of Credit any LC Disbursement (other than the funding of a Swing Line Loan or an ABR Borrowing Loans as contemplated above) shall not constitute a Loan and shall not or relieve the Borrower of its obligation to reimburse such drawingLC Disbursement. If the reimbursement by the Borrower of, or obligation to reimburse, any amounts in Canadian Dollars, Euros or Pounds Sterling would subject the Administrative Agent, the applicable Issuing Bank or any Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount stamp duty, ad valorem charge or similar tax that would not be payable if such reimbursement were made or required to be paid made in dollars, the Borrower shall, at its option, either (x) pay the amount of any such tax requested by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), the applicable Issuing Bank or Lender or (y) reimburse in dollars each LC Disbursement made in Canadian Dollars, Euros or Pounds Sterling, in an amount equal to the Dollar Equivalent, calculated using the applicable LC Exchange Rate on demand, such amount with interest thereon for the period from the date such payment LC Disbursement is required to reimbursed (or on the applicable LC Participation Calculation Date, if such date on which shall have occurred), of such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effectLC Disbursement.

ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any Letter of Credit on or before the Reimbursement Datemake such payment when due, the Administrative Agent shall notify each Lender of such failurethe applicable LC Disbursement, the payment then due from the Borrower in respect of such honored drawing, thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent, in dollars, Agent its Applicable Percentage of the amount payment then due from the Borrower, in the same manner as provided in Section 2.6 2.07 with respect to Loans made by such Lender (and Section 2.6 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraphLenders), and the Administrative Agent shall promptly remit pay to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such the applicable Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for an honored drawing under a Letter of Credit any LC Disbursement (other than the funding of a Swing Line Loan or an ABR Borrowing Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such drawing. If any Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effectLC Disbursement.

ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any Letter of Credit on or before the Reimbursement Datemake such payment when due, the Administrative Agent shall notify each Lender of such failurethe applicable LC Disbursement, the payment then due from the Borrower in respect of such honored drawing, thereof and such Lender’s Applicable Revolving Credit Commitment Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent, in dollars, Agent its Applicable Revolving Credit Commitment Percentage of the amount payment then due from the Borrower, in the same manner as provided in Section 2.6 2.05 with respect to Revolving Credit Loans made by such Lender (and Section 2.6 2.05 shall apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraphLenders), and the Administrative Agent shall promptly remit pay to the applicable Issuing Bank Lender the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank Lender or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such the Issuing BankLender, then to such Lenders and such the Issuing Bank Lender as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse an the Issuing Bank Lender for an honored drawing under a Letter of Credit any LC Disbursement (other than the funding of a Swing Line Loan or an ABR Borrowing Loans as contemplated above) shall not constitute a Revolving Credit Loan and shall not relieve the Borrower of its obligation to reimburse such drawing. If any Lender fails to make available to the Administrative Agent for the account of the relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effectLC Disbursement.