Common use of Reimbursement; Participations Clause in Contracts

Reimbursement; Participations. (a) If Issuing Bank honours any request for payment under a Letter of Credit, Borrower shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Rate Revolver Loans from the Reimbursement Date until payment by Borrower. The obligation of Borrower to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional and irrevocable, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower may have at any time against the beneficiary. Whether or not Borrower submits a Notice of Borrowing, Borrower shall be deemed to have requested a Borrowing of Prime Rate Revolver Loans, in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to shall fund its Pro Rata share of such Borrowing whether or not the Revolver Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) a. If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount , and Agent shall apply such Base Rate Loans and application thereof shall constitute payment of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. amounts owing by Borrowers pursuant to this clause (Eastern time) on the date of such drawing/request for paymenta).

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Floating Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to shall fund its Pro Rata share of such Borrowing whether or not the Revolver Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (ai) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“"Reimbursement Date”"), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of BorrowingFunding Notice, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share Share of such Borrowing whether or not the Revolving Loan Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 3.2 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by Borrower. The obligation of Borrower to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower may have at any time against the beneficiary. Whether or not Borrower submits a Notice of Borrowing, Borrower shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to shall fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by Borrower. The obligation of Borrower to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, and irrevocable, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower may have at any time against the beneficiary. Whether or not Borrower submits a Notice of Borrowing, Borrower shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by Borrower. The obligation of Borrower to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower may have at any time against the beneficiary. Whether or not Borrower submits a Notice of Borrowing, Borrower shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 Article VI are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by Borrower. The obligation of Borrower to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional and unconditional, irrevocable, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower may have at any time against the beneficiary. Whether or not Borrower submits a Notice of Borrowing, Borrower shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (the “Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Agent submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to shall fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.

Reimbursement; Participations. (a) If Issuing Bank honours honors any request for payment under a Letter of Credit, Borrower Borrowers shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit, together with interest at the interest rate for Prime Base Rate Revolver Loans from the Reimbursement Date until payment by BorrowerBorrowers. The obligation of Borrower Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional unconditional, irrevocable, and irrevocablejoint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrower Borrowers may have at any time against the beneficiary. Whether or not Borrower Company submits a Notice of Borrowing, Borrower Borrowers shall be deemed to have requested a Borrowing of Prime Base Rate Revolver Loans, Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied. The amount of any request for payment under a Letter of Credit denominated in a currency other than Dollars shall be converted into Dollars at the Agent’s spot buying rate in Toronto at approximately 12:00 p.m. (Eastern time) on the date of such drawing/request for payment.