Common use of LC Disbursements Clause in Contracts

LC Disbursements. If any Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unreimbursed amount thereof shall bear interest, for each day from the date such LC Disbursement is made to the date that such LC Disbursement is reimbursed in full by or on behalf of the Borrower or refinanced with a Revolving Borrowing, at the rate per annum then applicable to Revolving Advances that are Base Rate Loans; provided that if the Borrower shall have failed to reimburse such LC Disbursement by the time it is required to do so pursuant to Section 2.03(c)(i), interest on such unreimbursed amount shall be subject to Section 2.09(e).

LC Disbursements. If any the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unreimbursed amount thereof shall bear interest, for each day from the date such LC Disbursement is made to the date that such LC Disbursement is reimbursed in full by or on behalf of the Borrower or refinanced with a Revolving Borrowing, at the rate per annum then applicable to Revolving Advances that are Base Rate Loans; provided that if the Borrower shall have failed to reimburse such LC Disbursement by the time it is required to do so pursuant to Section 2.03(c)(i), interest on such unreimbursed amount shall be subject to Section 2.09(e).