Reimbursement. If the Lender shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Lender an amount equal to such LC Disbursement not later than 11:00 a.m., Detroit, Michigan time, on # the Business Day that the Borrower receives notice of such LC Disbursement, if such notice is received prior to 9:00 a.m., Detroit, Michigan time, on the day of receipt, or # the Business Day immediately following the day that the Borrower receives such notice, if such notice is received after 9:00 a.m., Detroit, Michigan time, on the day of receipt; provided that the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with [Section 2.03 or 2.05]5] that such payment be financed with a Loan in an equivalent amount and, to the extent so financed, the Borrowers obligation to make such payment shall be discharged and replaced by the resulting Loan.
Reimbursement. If the Lenderan Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse the applicable Issuing Bank in respect of such LC Disbursement by paying to the LenderAdministrative Agent an amount equal to such LC Disbursement not later than 11:3:00 a.p.m., Detroit, MichiganNew York City time, on # the Business Day that the Borrower receives notice of such LC Disbursement, if such notice is received prior to 9:10:00 a.m., Detroit, MichiganNew York City time, on the day of receipt, or # the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received after 9:00 a.m., Detroit, Michigan time, on the day of receipt; provided thatprior to such time. If the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with [Section 2.03 or 2.05]5] that such payment be financed with a Loan in an equivalent amount and, to the extent so financed, the Borrowers obligationfails to make such payment when due, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Revolving Lenders Applicable Percentage thereof. The Borrowers obligations under this clause (f) shall be discharged and replaced bysatisfied to the resulting Loan.extent of the making of ABR Loans under [clause (e) above].
Reimbursement. If the LenderIssuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Borrower shall reimburse the Issuing Bank in respect of such LC Disbursement by paying to the LenderAdministrative Agent an amount equal to such LC Disbursement not later than 11:1:00 a.p.m., Detroit, MichiganNew York City time, on # the Business Day that the Borrower receives notice of such LC Disbursement, if such notice is received prior to 9:10:00 a.m., Detroit, MichiganNew York City time, on the day of receipt, or # the Business Day immediately following the day that the Borrower receives such notice, if such notice is not received after 9:00 a.m., Detroit, Michigan time, on the day of receipt;prior to such time; provided thatthat, if such LC Disbursement is not less than $1,000,000, the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with [Section 2.03 or 2.05]5]04]4] that such payment be financed with a Syndicated ABR Borrowing or a Swingline Loan of the respective Class in an equivalent amount and, to the extent so financed, the BorrowerBorrower’s obligation to make such payment shall be discharged and replaced by the resulting Syndicated ABR Borrowing or Swingline Loan.
Reimbursement. If the Issuing Lender shall make any LC Disbursement in respect ofis obligated to advance funds under a Letter of Credit, the Borrower shall reimburse such LCL/C Disbursement to the Issuing Lender by paying to the LenderAgent an amount equal to such LCL/C Disbursement not later than 11:1:00 a.p.m., Detroit, Michigan time, (Pacific Time) on # the Business Daydate that thesuch L/C Disbursement is made, if Borrower receivesshall have received written or telephonic notice of such LC Disbursement, if such notice is receivedL/C Disbursement prior to 9:00 a.m., Detroit, Michigan time, (Pacific Time) on the day of receipt, or #such date, or, if such notice has not been received by Borrower prior to 9:00 a.m. (Pacific Time) on such date, then not later than 1:00 p.m. (Pacific Time) on the Business Day immediately following the day that the Borrower receives such notice, ifnotice. Such reimbursement shall be made in Dollars. In the absence of such notice is received after 9:00 a.m., Detroit, Michigan time, onreimbursement, the day of receipt; providedL/C Disbursement immediately and automatically shall be deemed to be an Advance hereunder and, thereafter, shall bear interest at the rate then applicable to Advances that the Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with [Sectionare Base Rate Loans under Section 2.03 or 2.05]5] that such payment be financed with a Loan in an equivalent amount and, to3. To the extent so financed, the Borroweran L/C Disbursement is deemed to be an Advance hereunder, Borrower’s obligation to makereimburse such paymentL/C Disbursement shall be discharged and replaced by the resulting Loan.Advance. To the extent Borrower has provided to Agent cash or Cash Equivalents to cash collateralize outstanding Letters of Credit pursuant to the provisions of this Agreement, and if no other reimbursement obligation for a separate L/C Disbursement exists, then Agent may utilize the cash collateral to reimburse the Issuing Lender for such L/C Disbursement. Promptly following receipt by Agent of any payment from Borrower pursuant to this paragraph, Agent shall distribute such payment to the Issuing Lender or, to the extent that have made payments pursuant to [Section 2.10(d)] to reimburse the Issuing Lender, then to such and the Issuing Lender as their interests may appear.
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