Amounts and Terms of Letters of Credit Sample Clauses

Amounts and Terms of Letters of Credit. During the period from the date of this Agreement to, but excluding, the Maturity Date, and subject to the terms and conditions of this Agreement, upon Borrower’s request pursuant to Section 3.9(b), an Issuing Bank shall issue one or more Financial Letters of Credit or Performance Letters of Credit (each, a “Letter of Credit,” and collectively, the “Letters of Credit”) for the account of Borrower or the account of a Letter of Credit Subsidiary; provided that no Issuing Bank shall be obligated to issue any Letter of Credit if, after giving effect thereto, (i) the L/C Obligations would exceed the L/C Commitment, or (ii) the total aggregate outstanding Loans plus the L/C Obligations would exceed the Total Aggregate Commitment, or (iii) at all times in which an Investment Grade Rating does not exist, the Senior Unsecured Home Building Debt would exceed the Borrowing Base, or (iv) the issuance of such Letter of Credit would violate one or more policies of such Issuing Bank. All Letters of Credit shall be on the applicable Issuing Bank’s standard forms of letters of credit at the time of issuance.
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Amounts and Terms of Letters of Credit. 42 Section 3.01. The Letter of Credit Subfacility.................................. 42 Section 3.02. Issuance of Letters of Credit..................................... 42 Section 3.03.
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Amounts and Terms of Letters of Credit. 2.01 Letters of Credit 9 2.02 Issuance and Extensions and Drawings of LOCs 10 2.03 Reimbursement Obligations 11 2.04 Termination or Reduction of the Commitment 13 2.05 Commitment Fee; Upfront Fee 13
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Amounts and Terms of Letters of Credit. During the period from the Closing Date to but excluding the L/C Commitment Termination Date, and subject to the terms and conditions of this Agreement, upon Borrower’s request pursuant to Section 4.15(c), the Issuing Lender shall issue one or more letter(s) of credit for the purposes specified in subsection 4.15(b)(ii) below (each, a “Letter of Credit,” and collectively, the “Letters of Credit”) for the account of Borrower; provided that the Issuing Lender shall not be obligated to issue any Letter of Credit if, after giving effect thereto, the L/C Obligations would exceed the L/C Commitment. All Letters of Credit shall be on Issuing Lender’s standard forms of letters of credit at the time of issuance. No Letter of Credit shall have an expiration date later than the Maturity Date.
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Amounts and Terms of Letters of Credit. During the period from the date of this Agreement to but excluding the L/C Commitment Termination Date, and subject to the terms and conditions of this Agreement, upon Company's request pursuant to SECTION 3.9.3, the Issuing Bank shall issue one or more Financial Letters of Credit or Performance Letters of Credit (each, a "Letter of Credit," and collectively, the "Letters of Credit") for the account of Company; PROVIDED that the Issuing Bank shall not be obligated to issue any Letter of Credit if, after giving effect thereto, (i) the L/C Obligations would exceed the L/C Commitment, or (ii) the total aggregate outstanding Loans PLUS the L/C Obligations would exceed the Total Aggregate Commitment, or (iii) the Total Borrowing Base Indebtedness would exceed the Borrowing Base, or (iv) the Issuing Bank would exceed its Commitment. All Letters of Credit shall be on forms reasonably satisfactory to the Issuing Bank. No Letter of Credit shall have an expiration date (unless the Issuing Bank and Majority Banks otherwise consent in writing) later than twelve (12) months after the Maturity Date.
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Amounts and Terms of Letters of Credit. AND PARTICIPATIONS THEREIN SECTION 3.01 Letters of Credit 37 SECTION 3.02 Issuing the Letters of Credit 38 SECTION 3.03 Reimbursement Obligations 39 SECTION 3.04 Participations Purchased by the Lenders 39 SECTION 3.05 Letter of Credit Fees 40 SECTION 3.06 Indemnification; Nature of the Issuing Banks’ Duties 41 SECTION 3.07 Uniform Customs and Practice 42 SECTION 3.08 Additional Issuing Banks 42 i SECTION 3.09 Dollar Payment Obligation 42 SECTION 3.10 Survival of Provisions; Cash Collateral 42
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Amounts and Terms of Letters of Credit. 40 Section 3.01. The Letter of Credit Subfacility . . . . . . . . . . . 40 Section 3.02. Issuance of Letters of Credit . . . . . . . . . . . . 40 Section 3.03.
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Amounts and Terms of Letters of Credit. During the period from the date of this Agreement to but excluding the Maturity Date, and subject to the terms and conditions of this AGREEMENT, UPON COMPANY'S REQUEST PURSUANT TO SECTION 2.9.3, the Issuing Bank shall issue one or more Letters of Credit for the ACCOUNT OF COMPANY, PROVIDED that the Issuing Bank shall not be obligated to issue any Letter of Credit if, after giving effect thereto, (i) the L/C Obligations would exceed the L/C Commitment, OR (II) THE TOTAL AGGREGATE OUTSTANDING LOANS PLUS the L/C Obligations would exceed the Aggregate Commitment (such Aggregate Commitment calculated taking into account any reduction in the Aggregate Commitment prior to the expiration date of the proposed LETTER OF CREDIT PURSUANT TO SECTION 3.17 hereof), or (iii) the sum of (A) the aggregate principal amount of outstanding Senior Permitted Debt of the Homebuilding Segment (including Loans and THE L/C OBLIGATIONS) PLUS (B) the aggregate amount of Third Party L/C Obligations of the Homebuilding Segment would exceed the Borrowing Base. All Letters of Credit shall be on Issuing Bank's standard forms of letters of credit at the time of issuance. No Letter of Credit shall have an expiration date (unless the Banks otherwise consent in writing) later than the Maturity Date. The Issuing Bank shall not be required to issue any Letter of Credit hereunder unless such Letter of Credit is for the benefit of a party to which the Company owes certain performance obligations in connection with its ordinary course of business activity (for example, for the benefit of a municipality to support Company's obligation to widen public streets in connection with a residential development project). The Issuing Bank shall not issue any Letter of Credit for the benefit of creditors to which the Company is obligated in respect of obligations for borrowed money.
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Amounts and Terms of Letters of Credit 
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Related to Amounts and Terms of Letters of Credit

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit. (a)

  • AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT SECTION 2.01. The Advances and the Letters of Credit. (a)

  • Terms of Letters of Credit At the time of issuance, the amount, form, terms and conditions of each Letter of Credit, and of any drafts or acceptances thereunder, shall be subject to approval by the applicable Issuing Bank and the Borrower. Notwithstanding the foregoing, in no event may (i) the expiration date of any Letter of Credit extend beyond the Revolving Termination Date, or (ii) any Letter of Credit have an initial duration in excess of one year; provided, however, a Letter of Credit may contain a provision providing for the automatic extension of the expiration date in the absence of a notice of non-renewal from the applicable Issuing Bank but in no event shall any such provision permit the extension of the expiration date of such Letter of Credit beyond the Revolving Termination Date. Notwithstanding the foregoing, a Letter of Credit may, as a result of its express terms or as the result of the effect of an automatic extension provision, have an expiration date of not more than one year beyond the Revolving Termination Date (any such Letter of Credit being referred to as an “Extended Letter of Credit”) so long as the Borrower delivers to the Administrative Agent for the benefit of the applicable Issuing Bank and the Revolving Lenders no later than 30 days prior to the Revolving Termination Date, Cash Collateral for such Letter of Credit for deposit into the Letter of Credit Collateral Account in an amount equal to the Stated Amount of such Letter of Credit; provided, that the obligations of the Borrower under this Section in respect of Extended Letters of Credit shall survive the termination of this Agreement and shall remain in effect until no Extended Letters of Credit remain outstanding. If the Borrower fails to provide Cash Collateral with respect to any Extended Letter of Credit by the date 30 days prior to the Revolving Termination Date, such failure shall be treated as a drawing under such Extended Letter of Credit (in an amount equal to the maximum Stated Amount of such Letter of Credit), which shall be reimbursed (or participations therein funded) by the Revolving Lenders in accordance with the immediately following subsections (i) and (j), with the proceeds being utilized to provide Cash Collateral for such Letter of Credit. The initial Stated Amount of each Letter of Credit shall be at least $500,000 (or such lesser amount as may be acceptable to the applicable Issuing Bank, the Administrative Agent and the Borrower).

  • Amounts and Terms of Commitments Each Bank severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrowers from time to time on any Business Day during the period from the Refinancing Date to the Commitment Termination Date equal to its Pro Rata Share of the aggregate amount of the Borrowing requested by a Borrower to be made on such day. The Commitment of each Bank and the outstanding principal amount of Loans made by each Bank hereunder shall not exceed at any time the aggregate amount set forth on Schedule II (such amount as the same may be reduced under Section 2.5 or as a result of one or more assignments as permitted herein pursuant to Section 3.7 and Section 9.7, the Bank's "Commitment"); provided, however, that, after giving effect to any Borrowing, the aggregate principal amount of all outstanding Loans shall not at any time exceed the Commitment Amount; and provided, further, that the aggregate principal amount of all Loans outstanding from time to time to a Borrower shall not exceed the Borrowing Base for the relevant Borrower. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, a Borrower may borrow under this Section 2.1, repay under the terms hereof and reborrow under this Section 2.1.

  • Amounts and Terms of the Loans 2.1 Commitments 12 2.2 Note 12 2.3 Principal Payments; Maturity of Loans 13 2.4 Interest 13 2.5 Fees 15 2.6 Termination or Reduction of Commitments 15 2.7 General Provisions as to Payments 15 2.8 Disbursement of Loan Proceeds 15 2.9 Use of Proceeds 15 2.10 Taxes 15 2.11 Illegality 16

  • Amount and Terms of the Credit Facility 2.1. The Commitments; Increase in Total Commitments. (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans in Dollars to the Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding that will not result in such Lender’s Exposure exceeding such Lender’s Commitment. During the Commitment Period the Borrower may use the Commitments by borrowing, prepaying the Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. Notwithstanding anything to the contrary in this Agreement, in no event may Loans be borrowed under this Section 2.1 if, after giving effect thereto, the aggregate principal amount (a) of the Total Exposures at such time would exceed the Total Commitments then in effect or (b) the Exposure of any Lender at such time would exceed such Lender’s Commitment. The Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.6. The respective obligations of the Lenders under this Agreement are several and not joint and no Lender shall be responsible for the failure of any other Lender to satisfy its obligations hereunder.

  • Amount and Terms of Commitments 2.1 [Reserved].

  • Amount and Terms of the Loans 2.1 Commitments 25 2.2 Borrowings 26 2.3 Disbursements; Funding Reliance; Domicile of Loans 29 2.4 Evidence of Debt; Notes 30

  • AMOUNTS AND TERMS OF THE ADVANCES SECTION 2.01 The Revolving Advances and Letters of Credit 19 SECTION 2.02 Making the Revolving Advances 20 SECTION 2.03 Swingline Loans 21 SECTION 2.04 Issuance of and Drawings and Reimbursement Under Letters of Credit 22 SECTION 2.05 The CAF Advances 23 SECTION 2.06 Competitive Bid Procedure 23 SECTION 2.07 Fees 26 SECTION 2.08 Termination or Reduction of the Revolving Commitments 26 SECTION 2.09 Repayment 27 SECTION 2.10 Interest 27 SECTION 2.11 Interest Rate Determination 28 SECTION 2.12 Optional Conversion of Revolving Advances 29 SECTION 2.13 Optional Prepayments of Revolving Advances 29 SECTION 2.14 Increased Costs 29 SECTION 2.15 Illegality 30 SECTION 2.16 Payments and Computations 30 SECTION 2.17 Taxes 31 SECTION 2.18 Sharing of Payments, Etc. 33 SECTION 2.19 Use of Proceeds 33 SECTION 2.20 Extension Option 33 SECTION 2.21 Increase in the Aggregate Revolving Commitments 34 SECTION 2.22 Evidence of Debt 35 ARTICLE III CONDITIONS TO EFFECTIVENESS AND LENDING SECTION 3.01 Conditions Precedent to Effectiveness of Sections 2.01 and 2.05 35 SECTION 3.02 Conditions Precedent to Each Revolving Borrowing, Issuance and Commitment Increase 36 SECTION 3.03 Conditions Precedent to Each CAF Borrowing 37 SECTION 3.04 Determinations Under Section 3.01 37 ARTICLE IV

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