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FL » Topics » Reimbursement Obligation

This excerpt taken from the FL 8-K filed May 21, 2008.
Reimbursement Obligation” means any obligation of a Borrower to reimburse any LC Agent pursuant to Section 2.16 for amounts paid by such LC Agent in respect of drawings under Letters of Credit issued by it upon the request and for the account of such Borrower, including any portion of any such obligation to which a Bank has become subrogated pursuant to paragraph (1) of Section 2.16(j).

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