IN PAYMENT OF ANY REIMBURSEMENT OBLIGATION OR INTEREST THEREON
UPON THE INSOLVENCY OF THE BORROWER, OR THE COMMENCEMENT OF ANY CASE OR
PROCEEDING UNDER ANY BANKRUPTCY,
38
INSOLVENCY OR OTHER SIMILAR LAW WITH RESPECT TO THE BORROWER, EACH REVOLVING
CREDIT LOAN BANK SHALL, ON DEMAND OF SUCH REVOLVING FRONTING BANK, FORTHWITH
RETURN TO SUCH REVOLVING FRONTING BANK ANY AMOUNTS TRANSFERRED TO SUCH REVOLVING
CREDIT LOAN BANK BY SUCH REVOLVING FRONTING BANK IN RESPECT THEREOF PURSUANT TO
THIS SUBSECTION PLUS SUCH REVOLVING CREDIT LOAN BANK'S PRO RATA SHARE OF ANY
INTEREST ON SUCH PAYMENTS REQUIRED TO BE PAID TO THE PERSON RECOVERING SUCH
PAYMENTS PLUS INTEREST ON THE AMOUNT SO DEMANDED FROM THE DAY SUCH DEMAND IS
MADE, IF SUCH DEMAND IS MADE BY 2:00 P.M. (NEW YORK CITY TIME), OR FROM THE NEXT
FOLLOWING DOMESTIC BUSINESS DAY, IF SUCH DEMAND IS MADE AFTER 2:00 P.M. (NEW
YORK CITY TIME), TO BUT NOT INCLUDING THE DAY SUCH AMOUNTS ARE RETURNED BY SUCH
REVOLVING CREDIT LOAN BANK TO SUCH REVOLVING FRONTING BANK AT A RATE PER ANNUM
FOR EACH DAY EQUAL TO (A) THE FEDERAL FUNDS RATE FOR THE DAY OF SUCH DEMAND AND
(B) THE BASE RATE PLUS 1% FOR EACH DAY THEREAFTER.
NOTWITHSTANDING THE
FOREGOING OR ANY OTHER PROVISION CONTAINED HEREIN, IN NO EVENT SHALL ANY
REVOLVING CREDIT LOAN BANK BE OBLIGATED TO MAKE ANY PAYMENT TO A REVOLVING
FRONTING BANK TO THE EXTENT THAT SUCH PAYMENT WOULD CAUSE SUCH BANK'S PRO RATA
SHARE OF THE TOTAL OUTSTANDINGS HEREUNDER TO EXCEED SUCH BANK'S REVOLVING CREDIT
LOAN COMMITMENT; PROVIDED THAT THE FOREGOING SHALL NOT AFFECT THE OBLIGATION OF
THE BORROWER (WHICH IS ABSOLUTE, UNCONDITIONAL AND IRREVOCABLE) TO REIMBURSE
EACH REVOLVING FRONTING BANK FOR THE ENTIRE AMOUNT OF EACH PAYMENT MADE BY SUCH
REVOLVING FRONTING BANK UNDER A REVOLVING LETTER OF CREDIT, INCLUDING ANY AMOUNT
THEREOF THAT IS NOT PAID BY ANY REVOLVING CREDIT LOAN BANK TO SUCH REVOLVING
FRONTING BANK (PURSUANT TO THIS SENTENCE OR OTHERWISE).
(H)
REVOLVING LETTER OF CREDIT COMMISSION; ISSUANCE FEE.
(I)
REVOLVING LETTER OF CREDIT COMMISSION.
THE BORROWER AGREES TO
PAY TO THE AGENT A LETTER OF CREDIT COMMISSION WITH RESPECT TO EACH REVOLVING
LETTER OF CREDIT ISSUED AT ITS REQUEST OR FOR ITS ACCOUNT, COMPUTED FOR EACH DAY
FROM AND INCLUDING THE DATE OF ISSUANCE OF SUCH REVOLVING LETTER OF CREDIT
THROUGH AND INCLUDING THE LAST DAY A REVOLVING L/C DRAWING IS AVAILABLE UNDER
SUCH REVOLVING LETTER OF CREDIT (THE "REVOLVING LETTER OF CREDIT TERMINATION
DATE"), AT THE REVOLVING LETTER OF CREDIT COMMISSION RATE ON THE AGGREGATE
AMOUNT AVAILABLE FOR DRAWING UNDER SUCH REVOLVING LETTER OF CREDIT FROM TIME TO
TIME (WHETHER OR NOT ANY CONDITIONS TO DRAWING CAN THEN BE MET), SUCH FEE TO BE
FOR THE ACCOUNT OF THE REVOLVING CREDIT LOAN BANKS RATABLY IN PROPORTION TO
THEIR TOTAL EXPOSURES.
SUCH FEE SHALL BE PAYABLE QUARTERLY IN ARREARS ON THE
LAST DOMESTIC BUSINESS DAY OF EACH JANUARY, APRIL, JULY AND OCTOBER AND UPON THE
TERMINATION DATE.
(II)
ISSUANCE FEE.
THE BORROWER SHALL PAY