Reimbursement of Drawings. In the event of any request for drawing under any Letter of Credit by the beneficiary thereof, the Facing Agent shall notify the Borrower, the Agent and the Revolving Lenders prior to the date on which the Facing Agent intends to honor such drawing, and the Borrower shall reimburse the Facing Agent on the day on which such drawing is honored in an amount in same day funds equal to the amount of such drawing, provided that, anything contained in this Agreement to the contrary notwithstanding, (i) unless the Borrower shall have notified the Facing Agent and the Agent prior to 1:00 p.m. (New York City time) one Business Day prior to such drawing that the Borrower intends to reimburse the Facing Agent for the amount of such drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have timely given a Notice of Borrowing to the Agent requesting the Revolving Lenders to make a Prime Rate Revolving Loan on the date on which such drawing is honored in an amount equal to the amount of such drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section 6.2, the Revolving Lenders shall, on the date of such drawing, make a Prime Rate Revolving Loan in the amount of such drawing, the proceeds of which shall be made available to the Facing Agent by the Agent and applied directly by the Facing Agent for the amount of such drawing; and provided further, that, if for any reason, proceeds of Revolving Loans are not received by the Facing Agent on such date in an amount equal to the amount of such drawing, the Borrower shall reimburse the Facing Agent, on the Business Day immediately following the date of such drawing, in an amount in same day funds equal to the excess of the amount of such drawing over the amount of such Revolving Loans, if any, which are so received, plus accrued interest on such amount at the rate set forth in Section 2.12(f)(iii). (e)
Reimbursement of Drawings. The Borrower agrees to repay to the Bank all amounts drawn under the Letter of Credit pursuant to a Principal Drawing, Purchase Drawing or an Interest Drawing, payable without any requirement of notice or demand by the Bank, prior to 5:00 p.m. on the next Business Day after the date on which such Drawing is paid by the Bank. On the Closing Date, to secure and to provide a source of funds to reimburse the Bank for Drawings, the Borrower will cause the Collateral in the total amount of $[***] (equal to the principal amount of the Bonds plus an amount equal to $[***], representing three years of interest payments calculated at the Term Rate on the Bonds) to be deposited in the Collateral Account. The parties acknowledge that the Company has arranged for an amount equal to $851,937.50 to be deposited in the Interest Reimbursement Account from proceeds of the Bonds on the Closing Date and that the Company will provide the Trustee with written and detailed standing instruction substantially in the form attached hereto as Exhibit C, to withdraw funds from the Interest Reimbursement Account to repay the amounts to be owed by the Borrower hereunder for reimbursement of Interest Drawings. Reimbursement for Interest Drawings will first be made from the Interest Reimbursement Account (as provided in such written and detailed standing instruction) until it is depleted and thereafter, reimbursement of Interest Drawings will be made from the Collateral Account pursuant to this Agreement and the Control Agreement. The Bank will apply the Collateral to satisfy such reimbursement obligation only to the extent that funds remitted by the Trustee to the Bank are insufficient to reimburse the Bank for such Interest Drawing. The Borrower shall cause reimbursement of Principal Drawings and Purchase Drawings to be made from the Collateral Account. If funds in the Interest Reimbursement Account or the Collateral Account, as applicable, are not available to reimburse any Drawing as required hereunder, the Borrower shall be obligated to provide other funds to repay such Drawing or any portion thereof. If any Drawing is not reimbursed, interest shall accrue at the Bank Rate on the unpaid amount from the due date until payment thereof in full.
Reimbursement of Drawings. Drafts drawn under each Letter of Credit shall be reimbursed by the Account Parties by paying to the Issuing Bank an amount equal to such drawing not later than 4:00 p.m., Boston time, on (i) the date that SRAC shall have received notice of such drawing, if such notice is received prior to 12:00 noon, Boston time, on such date, or (ii) the Business Day immediately following the day that SRAC receives such notice, if such notice is received after 12:00 noon, Boston time, on the day of drawing. Without in any way limiting any of the Issuing Bank’s rights under the other Credit Documents, the Account Parties hereby authorize the Issuing Bank to, in its sole discretion from time to time, without notice or demand (except as may otherwise be expressly required herein), withdraw from the Cash Collateral Account any amounts necessary to fully pay or reimburse the Issuing Bank for any L/C Disbursements not paid in accordance with the immediately preceding sentence.
Reimbursement of Drawings. The Borrower shall, on the Business Day following the day it receives notice of each Drawing, if such notice is received at or prior to 3:00 p.m. (New York time) on such day, and on the second Business Day following the day it receives such notice, if such notice is received after 3:00 p.m. (New York time) on such day, reimburse such Drawing by paying to the Issuing Bank in immediately available funds the amount of the payment made by the Issuing Bank with respect to such Drawing, together with, if such Drawing is not reimbursed on the date made, interest thereon, from (and including) the date of drawing to (but excluding) the date reimbursement is due (or, if earlier, the date reimbursement is made), at a rate per annum equal to the Base Rate as in effect from time to time.
Reimbursement of Drawings. The Issuer agrees to repay to the Bank all amounts drawn under the Letter of Credit pursuant to a Principal Drawing, a Principal Purchase Drawing, an Interest Drawing, or an Interest Purchase Drawing, payable without any requirement of notice or demand by the Bank, on the day on which such Drawing is paid by the Bank; provided, however, if on the date of any Principal Purchase Drawing the conditions set forth in Section 3.02 are satisfied, the Issuer shall be deemed to have requested the Bank to extend a Term Amortization of the Principal Purchase Drawing to the Issuer on the terms set forth in Section 2.01(b) and the Issuer shall be required to repay to the Bank such Term Amortization and the amounts accruing in respect thereof in accordance with the provisions of this Section 2.01, as follows:
Reimbursement of Drawings. The Company shall reimburse ------------------------- each drawing under each Letter of Credit as provided in the Letter of Credit Agreement related thereto.
Reimbursement of Drawings. The Company shall reimburse the Bank (or cause the Bank to be reimbursed) forthwith whenever a drawing is honored under the Letter of Credit by deposit of immediately available funds to the General Account and the transfer thereof to the Bank's Account in the manner provided in Section 2.3(c) of this Agreement on the day of such drawing, free of any deductions whatsoever. If such reimbursement is not so made on the date of such drawing, the drawing shall constitute an "Unreimbursed Drawing," and interest shall accrue thereon as provided in Section 2.3(d) of this Agreement.
Reimbursement of Drawings. Immediately after the Drawing Date for each Drawing (the "Drawing Payment Date"), the Participating Bank shall reimburse the Bank for all amounts advanced by the Bank in respect of such Drawing or shall cause such reimbursement to be paid by the Trustee to the Bank pursuant to the Indenture. The Bank agrees to give telephonic notice to the Participating Bank on the day that the Bank receives notice from the Trustee for each Drawing.
Reimbursement of Drawings. Drafts drawn under each Letter of Credit shall be reimbursed by Kmart or the applicable Subsidiary Credit Party in dollars by paying to the applicable Issuing Bank an amount equal to such drawing not later than 4:00 p.m., Boston time, on (i) the date that Kmart shall have received notice of such drawing, if such notice is received prior to 12:00 noon, Boston time, on such date, or (ii) the Business Day immediately following the day that Kmart receive such notice, if such notice is received after 12:00 noon, Boston time, on the day of drawing,
