Reimbursement of Payment. Any Holder or beneficial owner of a Security by acceptance of such Security shall thereby agree that if any payment on the Securities is made to such Holder or beneficial owner with respect to a payment obligation that did not become due and payable prior to the occurrence of a Non-Viability Event or Bankruptcy Event, as the case may be, then the payment of such amount shall be deemed null and void and such Holder or beneficial owner shall be obliged to return the amount of such payment within ten days after receiving notice of the payment.
Reimbursement of Payment. At such time as a Letter of Credit Issuer makes any payment on a draft presented or accepted under a Letter of Credit, the amount of such payment shall be considered a loan under Section 2.1.1 (regardless of whether the conditions set forth in Section 5.2 are satisfied) and part of the Revolving Loan as if the Company had paid in full the amount required with respect to the Letter of Credit by borrowing such amount under Section 2.1.1, except as provided below. In the event such amount would cause the Revolving Loan to exceed the Maximum Amount of Revolving Credit or if during the existence of an Event of Default the Agent provides written notice to the Company that Letter of Credit payments will no longer be considered loans under Section 2.1.1, the Company will on demand pay to the Agent in immediately available funds the amount of such payment.
Reimbursement of Payment. If this Agreement is terminated pursuant to section 2.2, CAWCD shall diligently seek from Tucson reimbursement of that portion of the Recovery Capacity Payment attributable to the remaining volume of Banked LTSCS (in acre-feet) that could have been recovered and exchanged at the time the Agreement was terminated at a reimbursement rate of $15.38 per acre-foot. For example, if this Agreement is terminated pursuant to section 2.2 when 35,000 acre- feet of Banked LTSCs could still have been recovered, CAWCD shall seek reimbursement of $538,300 from Tucson [$15.38/acre-foot X 35,000 acre-feet = $538,300]. To the extent CAWCD receives reimbursement from Tucson, CAWCD shall transfer those proceeds to SNWA.
Reimbursement of Payment. At such time as a Letter of Credit Issuer makes any payment on a draft presented or accepted under a Letter of Credit, the amount of such payment shall be considered a loan under Section 2.1.1 (regardless of whether the conditions set forth in Section 5.2 are satisfied) and part of the Revolving Loan as if the Borrower had paid in full the amount required with respect to the Letter of Credit by borrowing such amount under Section 2.1.1, except as provided below. In the event such amount would cause the Revolving Loan to exceed the Maximum Amount of Revolving Credit or in the event the Agent has previously provided written notice to the Borrower that Letter of Credit payments will no longer be considered loans under Section 2.1.1, the Borrower will on demand pay to the Agent in immediately available funds the amount of such payment.
Reimbursement of Payment. At such time as a Letter of Credit Issuer makes any payment on a draft properly presented or accepted under a Letter of Credit, the amount of such payment shall be considered a loan under Section 2.1.1 (regardless of whether the conditions set forth in Section 5.2 are satisfied) and part of the Revolving Loan as if the Company had paid in full the amount required with respect to the Letter of Credit by borrowing such amount under Section 2.1.1, except as provided below. In the event such amount would cause the Loan to exceed the Maximum Amount of Revolving Credit, the Company will on demand pay to the Agent in immediately available funds the amount of such payment.
Reimbursement of Payment. If an individual leaves the District prior to the completion of the school year he/she shall reimburse the District the longevity payment on a pro-rata basis.
Reimbursement of Payment. Upon (a) any drawing under any of the Back-up Letters of Credit, the Substitute Letters of Credit or the letters of credit issued in connection with the Rule 144A Financing (the "Rule 144A letters of credit") and the reimbursement therefor by FPL or Tractebel or (b) the payment by FPL or Tractebel under any corporate guaranty in connection with the Rule 144A Financing or under any Parent Guaranty, Northeast Energy agrees to pay, or cause to be paid, to each of FPL and Tractebel, an amount equal to the amount so reimbursed or disbursed by each of FPL and Tractebel (collectively, the "Reimbursement Amounts"). Repayment of the Reimbursement Amounts shall be paid from funds distributed from the General Subfund of the Partnership Distribution Fund (as defined in the Trust Indenture). On each date on which funds are so distributed, such funds shall be paid to FPL and Tractebel, subject to Section 2.5, pro rata on the basis of the total Reimbursement Amounts owing to such entities at the time of such distribution. Such payments shall be senior and prior to any equity distributions to the partners of Northeast Energy.
Reimbursement of Payment. At such time as a Letter of Credit Issuer makes any payment on a draft presented or accepted under a Letter of Credit, the amount of such payment shall be considered a loan under Section 2.1.1 (regardless of whether the conditions set forth in Section 5.2 are satisfied) and part of the Revolving Loan as if the Company had paid in full the amount required with respect to the Letter of Credit by borrowing such amount under Section 2.1.1, except as provided below. In the event such amount would cause the Revolving Loan to exceed the Maximum Amount of Revolving Credit or if during the existence of an Event of Default the Agent has previously provided written notice to the Company that Letter of Credit payments will no longer be considered loans under Section 2.1.1, the Company will on demand pay to the Agent in immediately available funds the amount of such payment.
Reimbursement of Payment. Any Holder of a Security by acceptance of such Security shall thereby agree that if any payment on such Security is made to such Holder with respect to a payment obligation that did not become due and payable prior to the occurrence of a Non-Viability Event, then the payment of such amount shall be deemed null and void and such Holder shall be obliged to return the amount of such payment within ten days after receiving notice of the payment.
Reimbursement of Payment. At such time as the Lender makes any payment on a draft presented or accepted under a Letter of Credit, the amount of such payment shall be considered a Loan under Section 2.1 (regardless of whether the conditions set forth in Section 5 are satisfied) as if the Company had paid in full the amount required with respect to the Letter of Credit by borrowing such amount under Section 2.1, except as provided below. In the event such amount would cause the Loan to exceed $30,000,000 or in the event the Lender has previously provided written notice to the Company that Letter of Credit payments will no longer be considered a Loan under Section 2.1, the Company will on demand pay to the Lender in immediately available funds the amount of such payment.
