Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocably and absolutely to pay immediately to the applicable Issuing Bank or, if applicable, the Administrative Agent, for the account of the Revolving Loan Lenders, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowers in respect thereof and such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata Share of the payment then due from the Borrower, in the same manner as provided in Section 2.11 with respect to Loans made by such Lender (and Section 2.11 shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement Obligations (other than the funding of Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.
Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocably and absolutely to pay immediately to the applicable Issuing Bank or, if applicable, the Administrative Agent, for the account of the Revolving Loan Lenders, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation“Reimbursement Obligation” with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section[Section 2.99] and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Section[Section 2.99] and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowers in respect thereof and such Revolving Loan LenderLender’s Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata Share of the payment then due from the Borrower, in the same manner as provided in Section[Section 2.1111] with respect to Loans made by such Lender (and Section[Section 2.1111] shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement Obligations (other than the funding of Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.
Reimbursement Obligation. Eachby Borrower agrees unconditionally, irrevocably and absolutely to pay immediately toof Amounts Drawn or Paid Under Letters of Credit. In the applicableevent the Issuing Bank or, if applicable, the Administrative Agent, for the account of the Revolving Loan Lenders, the amount of each advance drawn under or pursuanthas determined to honor a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance madedrawing under a Letter of CreditCredit, it shall immediately notify the Borrower and the Administrative Agent, and the Borrower shall reimburse the Issuing Bank on or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later thanbefore the Business Day immediately following the date on which such drawing is honored (the “Reimbursement Date”) in an amount in Dollars and in same day funds equal to the applicable Issuing Bank makes paymentamount of each such L/C Draft or, if suchhonored drawing; provided, anything contained herein to the contrary notwithstanding, # unless the Borrower shall have received notice of a Reimbursement Obligation later thannotified the Administrative Agent and the Issuing Bank prior to 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New YorkCity time) on the immediately following Business Day or, indate such drawing is honored that the caseBorrower intends to reimburse the Issuing Bank for the amount of anysuch honored drawing with funds other draw on a Letterthan the proceeds of Credit,Revolving Loans, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repaygiven a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowers in respect thereof and such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall paytimely Borrowing Request to the Administrative Agent its Pro Rata Sharerequesting each Revolving Lender to make Revolving Loans that are ABR Loans on the Reimbursement Date in an amount in Dollars equal to the amount of such honored drawing, and # regardless of whether the payment then due fromconditions specified in Section 4.02 are satisfied and without giving effect to the Borrower,limitation set forth in the same manner as providedproviso to [Section 2.01(b)], each Revolving Lender shall, on the Reimbursement Date, make Revolving Loans that are ABR Loans in Section 2.11 with respect to Loans made bythe amount of such Lender (and Section 2.11honored drawing, the proceeds of which shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receiptbe applied directly by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for the amount of such honored drawing; and provided, further, if for any Reimbursement Obligations (other than the fundingreason proceeds of Revolving Loans as contemplated above)are not received by the Issuing Bank on the Reimbursement Date in an amount equal to the amount of such honored drawing, the Borrower shall not constitute areimburse the Issuing Bank, on demand, in an amount in same day funds equal to the excess of the amount of such honored drawing over the aggregate amount of such Revolving Loan andLoans, if any, which are so received. Nothing in this [Section 2.17(d)] shall notbe deemed to relieve the Borrowers of theirany Revolving Lender from its obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting ofmake Revolving Loans plus two percent (2.0%) per annum.on the terms and conditions set forth herein, and the Borrower shall retain any and all rights it may have against any Revolving Lender resulting from the failure of such Revolving Lender to make such Revolving Loans under this [Section 2.17(d)].
Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocably and absolutely to pay immediately to the applicableReimbursement. If an Issuing Bank or, if applicable, the Administrative Agent, for the accountshall make any LC Disbursement in respect of the Revolving Loan Lenders, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7,Borrowers shall reimburse such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving riseLC Disbursement by paying to the Reimbursement Obligation, inIssuing Bank, with notice of such payment given to the Administrative Agent, an aggregate amount equal to (andsuch LC Disbursement in dollars not later than 4:00 p.m., New York City time, on the same Agreed Currency as)Business Day immediately following the unpaid Reimbursement Obligation. Such Revolving Loans shall be made asday that the Borrowers receive notice of such LC Disbursement; provided that, if such LC Disbursement is not less than the dateDollar Equivalent of $1,000,000, the payment giving rise to such Reimbursement ObligationBorrowers may, subject to satisfaction of the conditions to borrowing set forth herein.herein, request in accordance with [Section 2.03] or [Section 2.04] that such payment be financed with an ABR Revolving Loans made pursuant to this Section 3.7, if madeLoan Borrowing or a Swingline Loan, in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advanceseach case in the manner provided in Section 2.9 and subjectan equivalent amount, and, to the other conditionsextent so financed, the Borrowers’ obligation to make such payment shall be discharged and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selectedreplaced by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason,resulting ABR Revolving Loan Borrowing or Swingline Loan. If the Borrowers fail to repay a Reimbursement Obligation on the daymake such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, thenpayment when due, the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations,LC Disbursement, the payment then due from the Borrowers in respect thereof and such Revolving Loan LenderLender’s Pro Rata ShareApplicable Percentage thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata ShareApplicable Percentage of the payment then due from the Borrower,Borrowers, in dollars and in the same manner as provided in Section[Section 2.1106] with respect to Loans made by such Lender (and Section[Section 2.1106] shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders)Lenders pursuant to this paragraph), and the Administrative Agent shall promptly payremit to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank in dollars or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse thesuch Issuing Bank, then to such Revolving Lenders and thesuch Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse theany Issuing Bank for any Reimbursement ObligationsLC Disbursement (other than the funding of ABR Revolving Loans or a Swingline Loan as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.LC Disbursement.
SECTION # Reimbursement Obligation. EachObligation of the Borrower. In the event of any drawing under any Letter of Credit, the Borrower agrees unconditionally, irrevocably and absolutely to pay immediately toreimburse (either with the proceeds of a Revolving Credit Loan as provided for in this Section or with funds from other sources), in same day funds, the applicable Issuing Bank or, if applicable,Lender on each date on which such Issuing Lender notifies the Administrative Agent, for the accountBorrower of the Revolving Loan Lenders,date and amount of a draft paid by it under any Letter of Credit for the amount of each advance drawn under or pursuant# such draft so paid and # any amounts referred to a Letter of Credit issuedin Section 3.3(c) incurred by such Issuing Lender in connection with such payment. Unless the Borrower shall by 11:00 a.m. on behalf ofthe applicable reimbursement date notify such Issuing Lender that the Borrower or an L/C Draft related thereto (such obligation of such Borrowerintends to reimburse such Issuing BankLender for such drawing from other sources or funds, the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, astimely given a Notice of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowers in respect thereof and such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall payBorrowing to the Administrative Agent its Pro Rata Share ofrequesting that the payment then due fromRevolving Credit make a Revolving Credit Loan as a Base Rate Loan on the Borrower,applicable repayment date in the same manner as providedamount of # such draft so paid and # any amounts referred to in Section 2.11 with respect to Loans made3.3(c) incurred by such Issuing Lender (and Section 2.11 shall apply, mutatis mutandis, to the payment obligations ofin connection with such payment, and the Revolving Loan Lenders), and the Administrative AgentCredit shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made bymake a Revolving Credit Loan Lender pursuant to this paragraph to reimburseas a Base Rate Loan in such amount, the Issuing Bank for any Reimbursement Obligations (other than the fundingproceeds of Revolving Loans as contemplated above)which shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligationbe applied to reimburse such Reimbursement Obligations. Reimbursement ObligationsIssuing Lender for the amount of the related drawing and such fees and expenses. Each Revolving Credit Lender acknowledges and agrees that have not been paid by the Borrowers when due shall bear interest from and after such day, until paidits obligation to fund a Revolving Credit Loan in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.
“Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocably and absolutelyObligation” means the Borrowers’ obligation to pay immediately to the applicable Issuing Bank or, if applicable, the Administrative Agent, for the account ofreimburse the Revolving Loan Lenders, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate AdvancesLenders and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Sectionthe Issuing [[Organization A:Organization]] on account of any drawing under any Letter of Credit as provided in [Section 2.9 and3(d)]. Notwithstanding the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason,foregoing, unless the Borrowers failshall notify the Administrative Agent of their intent to repay a Reimbursement Obligation on the daydate of the related drawing under any Letter of Credit as provided in [Section 2.3(d)], such Reimbursement Obligation arises and, for any reason, the Revolvingshall simultaneously with such drawing be converted to and become a Base Rate Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowersas set forth in respect thereof and such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata Share of the payment then due from the Borrower, in the same manner as provided in Section[Section 2.11 with respect to Loans made by such Lender (and Section 2.11 shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement Obligations (other than the funding of Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.3(e)].
Reimbursement Obligation. Eachby the Borrower agrees unconditionally, irrevocably and absolutely to pay immediately toof Amounts Drawn or Paid Under Letters of Credit. In the event the applicable Issuing Bank or, if applicable,has determined to honor a drawing under a Letter of Credit, it shall promptly notify the Borrower, the Applicable Account Party and the Administrative Agent, forand the account ofBorrower shall reimburse (or cause the Revolving Loan Lenders,Applicable Account Party to reimburse) the applicable Issuing Bank on or before the Business Day immediately following the date on which such drawing is honored (the Reimbursement Date) in an amount in immediately available funds equal to the amount of each advance drawn undersuch honored drawing, together with interest at the applicable rate provided in [Section 2.10(g)]. If the Borrower or pursuantthe Applicable Account Party fails to timely reimburse the applicable Issuing Bank on the Reimbursement Date, then # if the Unreimbursed Amount relates to a Letter of Credit issued on behalfdenominated in a currency other than dollars or Euros, automatically and with no further action, the obligation to reimburse such Unreimbursed Amount shall be permanently converted into an obligation to reimburse the Dollar Equivalent, determined using the Exchange Rate calculated as of the date when such payment was due, of such Borrower or an L/C Draft related thereto (such obligationUnreimbursed Amount and # the Administrative Agent shall promptly notify each [[Organization C:Organization]] of the Reimbursement Date, the currency and amount of the unreimbursed drawing (the Unreimbursed Amount) (and the Dollar Equivalent thereof if the immediately preceding clause (A) is applicable), and the amount of such [[Organization C:Organization]]s Applicable Percentage thereof. In such event, the Borrower shall be deemed to reimburse suchhave requested ABR Loans to be disbursed on the Reimbursement Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in [Section 2.02] for the principal amount of ABR Loans, but subject to the amount of the unutilized portion of the Revolving Commitments and the conditions set forth in [Section 4.02] (other than the delivery of a Borrowing Request). Any notice given by an Issuing Bank or the Administrative Agent forpursuant to this [Section 2.19(d)] may be given by telephone if immediately confirmed in writing (which confirmation may be by telecopy or other electronic transmission); provided that the lack of such an advance made under a Letterimmediate confirmation shall not affect the conclusiveness or binding effect of Credit or L/C Draft being hereinafter referredsuch notice. Anything contained herein to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by suchthe contrary notwithstanding, # unless the Borrower no later than(or the Business Day on whichApplicable Account Party) shall have notified the Administrative Agent and the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:prior to 1:00 a.p.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New YorkCity time) on the immediately following Business Day or, indate such drawing is honored that the case of any other draw on a Letter of Credit,Borrower (or the date specified in the demand ofApplicable Account Party) intends to reimburse the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7,Bank on such date for the amount of such honored drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have electedgiven a timely Borrowing Request to borrowthe Administrative Agent requesting Lenders with Revolving Commitments to make Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise tothat are ABR Loans on the Reimbursement Obligation,Date in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made asamount of the date of the payment giving rise to such Reimbursement Obligationhonored drawing, and # subject to satisfaction or waiver of the conditions to borrowing set forth herein.specified in [Section 4.02], Lenders with Revolving Commitments shall, on the Reimbursement Date, make Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advancesthat are ABR Loans in the manner providedamount of the Dollar Equivalent (determined in accordance with Section 2.9 and subject to1.05) of such honored drawing, the other conditions and limitations therein set forth and set forth in Article II and in the definitionproceeds of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars,which shall initially be Eurocurrency Rate Advances having an Interest Period selectedapplied directly by the Administrative Agent to reimburse the applicable Issuing Bank for the amount of such honored drawing; and thereafterprovided, further, if for any reason proceeds of Revolving Loans are not received by the applicable Issuing Bank on the Reimbursement Date in an amount equal to the amount of such honored drawing, the Borrower shall (or shall cause the Applicable Account Party to) reimburse the applicable Issuing Bank, on demand, in an amount in immediately available funds equal to the excess of the amount of such honored drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this [Section 2.19(d)] shall be subjectdeemed to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, forrelieve any reason, the Borrowers fail to repay[[Organization C:Organization]] with a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have noCommitment from its obligation to make Revolving Loans, thenLoans on the Administrative Agentterms and conditions set forth herein, and the Borrower shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then dueretain any and all rights it may have against any such [[Organization C:Organization]] resulting from the Borrowers in respect thereof andfailure of such [[Organization C:Organization]] to make such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata Share of the payment then due from the Borrower, in the same manner as provided in SectionLoans under this [Section 2.11 with respect to Loans made by such Lender (and Section 2.11 shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement Obligations (other than the funding of Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.19(d)].
Reimbursements. If an Issuing Bank shall make an LC Disbursement in respect of a Letter of Credit, such Issuing Bank shall notify the Borrower and the Administrative Agent of such LC Disbursement and of the date and amount thereof and the Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement # if such notice has been received by the Borrower prior to 10:00 a.m., New York City time, on the Business Day that the Borrower receives notice of such LC Disbursement or # if such notice has been received by the Borrower after 10:00 a.m., New York City time, not later than 12:00 p.m., New York City time, on the first Business Day after such notice has been received (in each case, the “Required Reimbursement Obligation. EachDate”); provided that if such LC Disbursement is not less than a Dollar Equivalent of $1,000,000, the Borrower agrees unconditionally, irrevocablymay, subject to the conditions to borrowing set forth herein, request in accordance with [Section 2.03] that such payment be financed with an ABR Revolving Borrowing and, to the extent so financed, the Borrower’s obligation to make such payment shall be discharged and absolutely to pay immediately toreplaced by the resulting ABR Revolving Borrowing and unless the Borrower shall have, by 12:00 p.m., New York City time, on the Required Reimbursement Date, reimbursed the applicable Issuing Bank or, if applicable, the Administrative Agent, for the accountLC Disbursement with funds other than from the proceeds of thean ABR Revolving Loan Lenders,Borrowing, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower to reimburse such Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, inrequested an aggregate amount equal to (andABR Borrowing in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made asamount of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans madeLC Disbursement, plus interest payable thereon pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in[Section 2.05(h)]. If the manner provided in Section 2.9 and subjectBorrower subsequently fails to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selectedreimburse any LC Disbursement by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, thentime specified above, the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations,such failure, the payment then due from the BorrowersBorrower in respect thereofof the applicable LC Disbursement and such Revolving Loan LenderLender’s Pro Rata ShareApplicable Percentage thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata ShareApplicable Percentage of the paymentamount then due from the Borrower, in the same manner as provided in Section[Section 2.1106] with respect to Loans made by such Lender (and Section[Section 2.1106] shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders)[[Organization A:Organization]] pursuant to this paragraph), and the Administrative Agent shall promptly payremit to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders.[[Organization A:Organization]]. Promptly following receipt by the Administrative Agent of any payment from the BorrowersBorrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Loan Lenders[[Organization A:Organization]] have made payments pursuant to this paragraph to reimburse thesuch Issuing Bank, then to such LendersRevolving [[Organization A:Organization]] and thesuch Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse thean Issuing Bank for any Reimbursement Obligationsan LC Disbursement (other than the funding of an ABR Revolving LoansBorrowing as contemplated above) shall not constitute a Revolving Loan and shall not relieve the BorrowersBorrower of theirits obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.LC Disbursement.
Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocably and absolutely to pay immediately toReimbursement. If the applicable Issuing Bank or, if applicable, the Administrative Agent, for the accountshall make any LC Disbursement in respect of the Revolving Loan Lenders, the amount of each advance drawn under or pursuant to a Letter of Credit issued on behalf of such Borrower or an L/C Draft related thereto (such obligation of such Borrower toCredit, the Borrowers shall reimburse such Issuing Bank orLC Disbursement by paying to the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respectamount equal to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower noLC Disbursement # not later than 11:00 a.m., Chicago time, on the Business Day on whichdate that such LC Disbursement is made, if the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower Representative shall have received notice of a Reimbursement Obligationsuch LC Disbursement prior to 9:00 a.m., Chicago time, on such date, or, # if such notice has not been received by the Borrower Representative prior to such time on such date, then not later than 10:11:00 a.m. (New York time), Chicago time, on any# the Business Day that the Borrower Representative receives such notice, if such notice is received prior to 9:00 a.m., Chicago time, on the day of receipt, or on a# the Business Day immediately following the day whichthat the Borrower Representative receives such notice, if such notice is not a Business Day, no later than 10:00 a.m. (New York time)received prior to such time on the immediately following Business Day or, inday of receipt; provided, that the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrower shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation, in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement ObligationBorrowers may, subject to satisfaction of the conditions to borrowing set forth herein.herein, request in accordance with [Section 2.03] that such payment be financed with an CBFR Revolving Loans made pursuant to this Section 3.7, if madeBorrowing in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subjectan equivalent amount and, to the other conditionsextent so financed, the Borrowers obligation to make such payment shall be discharged and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selectedreplaced by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason,resulting CBFR Revolving Borrowing. If the Borrowers fail to repay a Reimbursement Obligation on the daymake such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, thenpayment when due, the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations,LC Disbursement, the payment then due from the Borrowers in respect thereof and such Revolving Loan Lenders Pro Rata ShareApplicable Percentage thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata ShareApplicable Percentage of the payment then due from the Borrower,Borrowers, in the same manner as provided in Section[Section 2.1107] with respect to Loans made by such Lender (and Section[Section 2.1107] shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement ObligationsLC Disbursement (other than the funding of CBFR Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.LC Disbursement.
Reimbursement Obligation. Each Borrower agrees unconditionally, irrevocablyAdministrative thereof, and absolutely to pay immediately to the applicablesuch Issuing Bank or, if applicable,shall, within a reasonable time following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter of Credit. If an Issuing Bank notifies the Administrative Agent, for of any payment by such Issuing Bank under a Letter of Credit, then the account of the Revolving Loan Lenders, shall reimburse such Issuing Bank in an amount equal to the amount of such drawing not later than 3:00 p.m. (New York City time, in the case of drawings in Dollars, or London time, in the case of drawings in an Alternative Currency) on the next succeeding Business Day. If the fails to so reimburse such Issuing Bank by such time, such Issuing Bank shall promptly notify the Administrative of such failure and the Administrative shall promptly thereafter notify each advance drawn under or pursuantRevolving of such payment date, the amount of the unreimbursed drawing (expressed in the Dollar Amount thereof in the case of an Alternative Currency) (the “Reimbursement Obligations”) and the amount of such ’s Pro Rata Share thereof. In such event, # the shall be deemed to have requested a LetterRevolving Loan Borrowing of Credit issuedBase Rate Loans to be disbursed on such date in an amount equal to such Reimbursement Obligation, without regard to the minimum and multiples specified in Section 2.02(b) for the principal amount of Base Rate Loans and # in the case of Reimbursement Obligations denominated in an Alternative Currency (but expressed in its Dollar Amount), the shall be deemed to have requested on behalf of the applicable Revolving a Revolving Loan Borrowing of # prior to the Amendment No. 4 Effective Date, Eurocurrency Rate Loans in Dollars and # on and after the Amendment No. 4 Effective Date, SOFR Loans denominated in Dollars, in each case, to be disbursed on such Borrower ordate in an L/C Draft related thereto (such obligationamount equal to # the Dollar Amount of such BorrowerReimbursement Obligation, plus # in the case of any Reimbursement Obligation denominated in any Alternative Currency (but expressed in its Dollar Amount), an additional amount equal to reimburse suchthe amount required to convert Dollars into the currency of the unreimbursed drawing, without regard to the minimum and multiples specified in Section 2.02(b) for the principal amount of Base Rate Loans, but subject to the aggregate unused Revolving Commitments and the conditions set forth in [Section 4.02] (other than delivery of a Committed Loan Notice). Any notice given by an Issuing Bank or the Administrative Agent for an advance made under a Letter of Credit or L/C Draft being hereinafter referred to as a Reimbursement Obligation with respect to such Letter of Credit or L/C Draft), each such reimbursement to be made by such Borrower no later than the Business Day on which the applicable Issuing Bank makes payment of each such L/C Draft or, if such Borrower shall have received notice of a Reimbursement Obligation later than 10:00 a.m. (New York time) on any Business Day or on a day which is not a Business Day, no later than 10:00 a.m. (New York time) on the immediately following Business Day or, in the case of any other draw on a Letter of Credit, the date specified in the demand of the applicable Issuing Bank. If any Borrower at any time fails to repay a Reimbursement Obligation pursuant to this Section 3.7, such Borrowerclause (i) shall be deemed to have elected to borrow Revolving Loans from the Revolving Loan Lenders, as of the date of the advance giving rise to the Reimbursement Obligation,given in an aggregate amount equal to (and in the same Agreed Currency as) the unpaid Reimbursement Obligation. Such Revolving Loans shall be made as of the date of the payment giving rise to such Reimbursement Obligation subject to satisfaction of the conditions to borrowing set forth herein. Revolving Loans made pursuant to this Section 3.7, if made in Dollars, shall initially be Floating Rate Advances and thereafter may be continued as Floating Rate Advances or converted into Eurocurrency Rate Advances in the manner provided in Section 2.9 and subject to the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. Revolving Loans made pursuant to this Section 3.7, if made in an Agreed Currency other than Dollars, shall initially be Eurocurrency Rate Advances having an Interest Period selected by the Administrative Agent and thereafter shall be subject to Section 2.9 and the other conditions and limitations therein set forth and set forth in Article II and in the definition of Interest Period. If, for any reason, the Borrowers fail to repay a Reimbursement Obligation on the day such Reimbursement Obligation arises and, for any reason, the Revolving Loan Lenders are unable to make or have no obligation to make Revolving Loans, then the Administrative Agent shall notify each Revolving Loan Lender of the applicable Reimbursement Obligations, the payment then due from the Borrowers in respect thereof and such Revolving Loan Lenders Pro Rata Share thereof. Promptly following receipt of such notice, each Revolving Loan Lender shall pay to the Administrative Agent its Pro Rata Share of the payment then due from the Borrower, in the same manner as provided in Section 2.11 with respect to Loans made by such Lender (and Section 2.11 shall apply, mutatis mutandis, to the payment obligations of the Revolving Loan Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank the amounts so received by it from the Revolving Loan Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrowers pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Revolving Loan Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Revolving Loan Lender pursuant to this paragraph to reimburse the Issuing Bank for any Reimbursement Obligations (other than the funding of Revolving Loans as contemplated above) shall not constitute a Revolving Loan and shall not relieve the Borrowers of their obligation to reimburse such Reimbursement Obligations. Reimbursement Obligations that have not been paid by the Borrowers when due shall bear interest from and after such day, until paid in full, at the interest rate applicable to a Floating Rate Advance consisting of Revolving Loans plus two percent (2.0%) per annum.writing.
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