Common use of Drawing and Reimbursement Clause in Contracts

Drawing and Reimbursement. In the event of any request for a drawing under a Letter of Credit by the beneficiary thereof, the Issuing Lender shall immediately notify the Borrower and the Agent. The Borrower shall reimburse the Issuing Lender prior to 1:00 p.m. (New York time), on each date that any amount is paid by the Issuing Lender under any Letter of Credit, in an amount equal to the amount paid by the Issuing Lender on such date under such Letter of Credit. In the event the Borrower shall fail to reimburse the Issuing Lender for the full amount of any drawing under any Letter of Credit by 1:00 p.m. (New York time) on the same date such drawing is honored by the Issuing Lender, the Issuing Lender shall promptly notify the Agent and the Agent shall promptly notify each Lender thereof (including the amount of the drawing and such Lender's Pro Rata Share thereof), and the Borrower shall be deemed to have requested that Base Rate Loans be made by the Lenders to be disbursed on the date of payment by the Issuing Lender under such Letter of Credit, subject to the amount of the unutilized portion of the Revolving Commitment of each Lender and subject to the conditions set forth in clauses (b) and (c) of Section 8.

Drawing and Reimbursement. In the event of any request for a drawing under a Letter of Credit by the beneficiary thereof, the Issuing Lender Bank shall immediately notify the Borrower and the Agent. The Borrower shall reimburse the Issuing Lender Bank prior to 1:00 p.m. 10:00 A.M. (New York California time), on each date that any amount is paid by the Issuing Lender Bank under any Letter of Credit, in an amount equal to the amount paid by the Issuing Lender Bank on such date under such Letter of Credit. In the event the Borrower shall fail to reimburse the Issuing Lender Bank for the full amount of any drawing under any Letter of Credit by 1:00 p.m. 10:00 A.M. (New York California time) on the same date such drawing is honored by the Issuing LenderBank, the Issuing Lender Bank shall promptly notify the Agent and the Agent shall promptly notify each Lender Bank thereof (including the amount of the drawing and such LenderBank's Pro Rata Share thereof), and the Borrower shall be deemed to have requested that Base Reference Rate Loans be made by the Lenders Banks to be disbursed on the date of payment by the Issuing Lender Bank under such Letter of Credit, subject to the amount of the unutilized portion of the Revolving Commitment of each Lender and subject to the conditions set forth in clauses (b) and (c) of Section 8.

Drawing and Reimbursement. In the event of any request for a drawing under a Letter of Credit by the beneficiary thereof, the Issuing Lender Bank shall immediately notify the Borrower and the Agent. The Borrower shall reimburse the Issuing Lender Bank prior to 1:00 p.m. 10:00 a.m. (New York California time), on each date that any amount is paid by the Issuing Lender Bank under any Letter of Credit, in an amount equal to the amount paid by the Issuing Lender Bank on such date under such Letter of Credit. In the event the Borrower shall fail to reimburse the Issuing Lender Bank for the full amount of any drawing under any Letter of Credit by 1:00 p.m. 10:00 a.m. (New York California time) on the same date such drawing is honored by the Issuing LenderBank, the Issuing Lender Bank shall promptly notify the Agent and the Agent shall promptly notify the Borrower and each Lender Bank thereof (including the amount of the drawing and such LenderBank's Pro Rata Share Commitment Percentage thereof), and the Borrower shall be deemed to have requested that Base Rate Loans be made by the Lenders Banks to be disbursed on the date of payment by the Issuing Lender Bank under such Letter of Credit, subject to the amount of the unutilized portion of the Revolving Commitment of each Lender and subject to the conditions set forth in clauses (b) and (c) of Section 8.

Drawing and Reimbursement. In the event of any request for a drawing under a Letter of Credit by the beneficiary thereof, the Issuing Lender shall immediately notify the Borrower and the Agent. The Borrower shall reimburse the Issuing Lender prior to 1:00 p.m. (New York time), on each date that any amount is paid by the Issuing Lender under any Letter of Credit, in an amount equal to the amount paid by the Issuing Lender on such date under such Letter of Credit. In the event the Borrower shall fail to reimburse the Issuing Lender for the full amount of any drawing under any Letter of Credit by 1:00 p.m. (New York time) on the same date such drawing is honored by the Issuing Lender, the Issuing Lender shall promptly notify the Agent and the Agent shall promptly notify each Lender thereof (including the amount of the drawing and such Lender's ’s Pro Rata Share thereof), and the Borrower shall be deemed to have requested that Base Rate Loans be made by the Lenders to be disbursed on the date of payment by the Issuing Lender under such Letter of Credit, subject to the amount of the unutilized portion of the Revolving Commitment of each Lender and subject to the conditions set forth in clauses (b) and (c) of Section 8.