This excerpt taken from the FL 8-K filed May 21, 2008.
Reimbursement and Other Payments by the Borrower. (1) If any amount is drawn under any Letter of Credit, the Borrower irrevocably and unconditionally agrees to reimburse the applicable LC Agent (through the Administrative Agent) for all amounts paid by such LC Agent upon such drawing, together with any and all reasonable charges and expenses which such LC Agent may pay or incur relative to such drawing and interest on the amount drawn at the Federal Funds Rate for each day from and including the date such amount is drawn to but excluding the date such reimbursement payment is due and payable. Such reimbursement payment shall be due and payable (x) at or before 1:00 P.M. (New York City time) on the date the LC Agent notifies the Borrower of such drawing, if such notice is given at or before 11:00 A.M. (New York City time) on
such date, or (y) at or before 11:00 A.M. (New York City time) on the first Domestic Business Day after the date such notice is given, if such notice is given after 11:00 A.M. (New York City time) on such date; provided that no payment otherwise required by this sentence to be made by the Borrower at or before 1:00 P.M. (New York City time) on any day shall be overdue hereunder if arrangements for such payment satisfactory to the applicable LC Agent and the Administrative Agent, in their reasonable discretion, shall have been made by the Borrower at or before 1:00 P.M. (New York City time) on such day and such payment is actually made at or before 3:00 P.M. (New York City time) on such day.
(2) In addition, the Borrower agrees to pay to each LC Agent (through the Administrative Agent) interest on any and all amounts not paid by the Borrower when due hereunder with respect to a Letter of Credit issued by such LC Agent, for each day from and including the date when such amount becomes due to but excluding the date such amount is paid in full, whether before or after judgment, payable on demand, at a rate per annum equal to the sum of 2% plus the rate applicable to Base Rate Loans for such day.
(3) Each payment to be made by the Company or any Borrower pursuant to this subsection (i) shall be made to the Administrative Agent for the account of the applicable LC Agent in Federal or other funds immediately available to it at its address referred to in Section 9.01.