Amount and Terms of the Letter of Credit. SECTION 2.01. The Letter of Credit. The Fronting Bank agrees, on the terms and conditions hereinafter set forth (including, without limitation, the satisfaction of the conditions set forth in Sections 3.01 and 3.02), to issue the Letter of Credit to the Trustee at or before 5:00 P.M. (New York City time) on December 16, 2005.
Amount and Terms of the Letter of Credit. SECTION 2.01. The Letter of Credit. The Issuing Bank agrees, on the terms and conditions hereinafter set forth, to issue the Letter of Credit to the Issuing and Paying Agent and Depositary on any Business Day during the period from the Effective Date to but excluding the earlier of the Termination Date and the date of termination of the Commitment, which date of issuance shall be specified in a notice delivered by the Company to the Issuing Bank and the Agent not fewer than one Business Day prior to such date (unless such date is the date hereof). The Agent shall promptly transmit copies of such notice, if any, to the Participating Banks. The Letter of Credit shall be in a Stated Amount not to exceed $275,000,000, shall not exceed the Borrowing Base in effect at the time of issuance and shall expire on the Cancelation Date. [NYCORP2:396433.11:4417A:09/06/97--2:48a]
Amount and Terms of the Letter of Credit. SECTION 2.01. The Letter of Credit. The Bank agrees, on the terms and conditions hereinafter set forth, to issue and deliver the Letter of Credit in favor of the Trustee at any time during the period from the date hereof to ____________, 1998 (the "COMMITMENT TERMINATION DATE") in the amount of the Commitment and expiring on or before the Stated Termination Date.
Amount and Terms of the Letter of Credit. Section 2.1. Issuance of the Letter of Credit. -------------------------------- Upon fulfillment of the applicable conditions set forth in Article 3, and subject to the terms and conditions of this Reimbursement Agreement, the Bank agrees to issue the Letter of Credit on November 12, 1997, for the account of the Company, naming the Trustee as beneficiary and having an initial stated amount of $11,162,739.72. Such stated amount shall reduce and be reinstated in accordance with the terms of the Letter of Credit.
Amount and Terms of the Letter of Credit. The Credit Bank agrees, upon at least 24 hours’ prior notice from the Obligor to the Credit Bank and on the terms and subject to the conditions hereinafter set forth, including, without limitation, the conditions set forth in Article 4 hereof, to issue the Letter of Credit on the date of delivery specified herein (the “Date of Issuance”), provided such date of delivery is not later than December 31, 2003, effective upon such delivery date and expiring on the Expiration Date. The Letter of Credit will be issued in an initial Stated Amount of $6,378,750.00 representing the aggregate principal amount represented by the Bonds as of the Date of Issuance, plus interest on such principal amount for a period of 45 days at a rate of ten percent (10%) per annum based on a 360-day year. The Letter of Credit shall be issued to the Trustee for the account of the Obligor, and shall be substantially in the form of Exhibit A hereto, with such changes to the form set forth in Exhibit A as the Obligor and the Credit Bank shall agree in writing are necessary or advisable.
Amount and Terms of the Letter of Credit
