Reimbursement Obligation definition

Reimbursement Obligation means the absolute, unconditional and irrevocable obligation of the Borrower to reimburse the Issuing Bank for any drawing honored by the Issuing Bank under a Letter of Credit.

Reimbursement Obligation is defined in Section 2.6.3.

Examples of Reimbursement Obligation in a sentence

Upon receipt by any Issuing Bank of any payment in respect of any Reimbursement Obligation, such Issuing Bank shall promptly pay to each Revolving Lender that has acquired a participation therein under the second sentence of the immediately following subsection (i) such ▇▇▇▇▇▇’s Revolving Commitment Percentage of such payment.
Whenever the Letter of Credit Issuer receives a payment on account of a Reimbursement Obligation, including any interest thereon, as to which the Letter of Credit Issuer has received any payments from the Lenders pursuant to this Section 11.06, it shall promptly pay to each Lender which has funded its participating interest therein, in Dollars and in the kind of funds so received, an amount equal to such ▇▇▇▇▇▇’s ratable share thereof.

Reimbursement Obligation means the obligation of the Borrower to provide to the Lender or reimburse the Lender for any amounts payable, paid, or incurred by the Lender with respect to Letters of Credit.

Reimbursement Obligation shall have the meaning set forth in Section 2.14(b) hereof.

Reimbursement Obligation means as is specified in Section 2.8(c).

Reimbursement Obligation the obligation of the applicable Borrower to reimburse each Issuing Bank pursuant to Section 2.7(e) for amounts drawn under Letters of Credit issued by such Issuing Bank.

Reimbursement Obligation means the obligation of the Borrower to reimburse the L/C Issuer pursuant to Section 2.19(c) for amounts drawn under Letters of Credit.