Common use of Method of Reimbursement Clause in Contracts

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, in accordance with Section 2.02, three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 10 contracts

Sources: Credit Agreement (FirstEnergy Transmission, LLC), Credit Agreement (Firstenergy Corp), Credit Agreement

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance) has been given, in accordance with Section 2.02, three (3) U.S. Government Securities Business Days (or, with respect to a request for an RFR Advance, if applicable, five (5) U.S. Government Securities Business Days) prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance).

Appears in 5 contracts

Sources: Credit Agreement (FirstEnergy Transmission, LLC), Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp)

Method of Reimbursement. Each The Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such the Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such the Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such the Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such the Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Term Benchmark Advance (or, if applicable, RFR Advance) has been given, in accordance with Section 2.02, three (3) U.S. Government Securities Business Days (or, with respect to a request for an RFR Advance, if applicable, five (5) U.S. Government Securities Business Days) prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Term Benchmark Advance (or, if applicable, RFR Advance).

Appears in 3 contracts

Sources: Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp), Credit Agreement (FirstEnergy Transmission, LLC)

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Pro-Rata Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, given in accordance with Section 2.02, 2.02 three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 3 contracts

Sources: Credit Agreement, Credit Agreement (FirstEnergy Solutions Corp.), Credit Agreement (FirstEnergy Solutions Corp.)

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.152.14; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, given in accordance with Section 2.02, 2.02 three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 3 contracts

Sources: Credit Agreement, Credit Agreement (FirstEnergy Solutions Corp.), Credit Agreement (FirstEnergy Solutions Corp.)

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall immediately reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph clause (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Pro-Rata Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Pro-Rata Advance has been given, given in accordance with Section 2.02, 2.02 three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Pro-Rata Advance.

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Firstenergy Corp)

Method of Reimbursement. Each The Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such the Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such the Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such the Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such the Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, in accordance with Section 2.02, three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Firstenergy Corp)

Method of Reimbursement. Each The Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such the Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such the Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such the Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such the Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance) has been given, in accordance with Section 2.02, three (3) U.S. Government Securities Business Days (or, with respect to a request for an RFR Advance, if applicable, five (5) U.S. Government Securities Business Days) prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance).

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Firstenergy Corp)

Method of Reimbursement. Each Borrower The Obligor shall reimburse each the Fronting Bank for each Drawing under any the Letter of Credit issued for the account of such Borrower the Obligor by such the Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower the Obligor shall immediately reimburse such the Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower the Obligor has not reimbursed such the Fronting Bank pursuant to paragraph clause (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower the Obligor may reimburse such the Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Pro-Rata Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Pro-Rata Advance has been given, given in accordance with Section 2.02, 2.02 three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Pro-Rata Advance.

Appears in 1 contract

Sources: Letter of Credit and Reimbursement Agreement (Metropolitan Edison Co)

Method of Reimbursement. Each The Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such the Borrower shall immediately reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.154.01 to the extent that funds are not available to repay the applicable Reimbursement Obligation pursuant to Section 2.06(e); or (ii) if (A) such the Borrower has not reimbursed such Fronting Bank pursuant to paragraph clause (i) above, (B) the applicable conditions to Borrowing the making of an Advance set forth in Articles II II, III and III V have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such the Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate a Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) above have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, given in accordance with Section 2.02, 3.01 three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 1 contract

Sources: Credit Agreement (Public Service Co of New Hampshire)

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base 744222473 Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate Advance has been given, in accordance with Section 2.02, three (3) Business Days prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate Advance.

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)

Method of Reimbursement. Each Borrower shall reimburse each Fronting Bank for each Drawing under any Letter of Credit issued for the account of such Borrower by such Fronting Bank pursuant to subsection (f) above in the following manner: (i) such Borrower shall reimburse such Fronting Bank in the manner described in subsection (f) above and Section 2.15; or (ii) if (A) such Borrower has not reimbursed such Fronting Bank pursuant to paragraph (i) above, (B) the applicable conditions to Borrowing set forth in Articles II and III have been fulfilled, and (C) the Available Commitments in effect at such time exceed the amount of the Drawing to be reimbursed, such Borrower may reimburse such Fronting Bank for such Drawing with the proceeds of an Alternate Base Rate Advance or, if the conditions specified in the foregoing clauses (A), (B) and (C) 753191373 have been satisfied and a Notice of Borrowing requesting a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance) has been given, in accordance with Section 2.02, three (3) U.S. Government Securities Business Days (or, with respect to a request for an RFR Advance, if applicable, five (5) U.S. Government Securities Business Days) prior to the relevant Payment Date, with the proceeds of a Eurodollar Rate RateTerm Benchmark Advance (or, if applicable, RFR Advance).

Appears in 1 contract

Sources: Credit Agreement (Firstenergy Corp)