Issuance of Credits Sample Clauses

Issuance of Credits. Each Credit shall be issued not later than three (3) Business Days after receipt by Bank of the Credit Application related thereto. No later than 12:00 noon (Central Time) on the third Business Day following receipt of the Credit Application and upon fulfillment of the applicable conditions set forth in this Agreement, Bank shall issue its Credit. Bank may rely fully and completely upon the authority of the signatory of the Credit Application and the contents thereof unless such authority is terminated by written notice delivered to Bank, and any such termination of authority shall be effective only prospectively.
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Issuance of Credits. Subject to Section 2.4, the Bank hereby agrees to issue Sight Credits, Usance Credits and Standby Credits. Sight Credits, Usance Credits and Standby Credits may be issued for the purpose of purchasing inventory consisting of action sports products including in-line skates, skateboards and scooters; outdoor products including instant canopies and trampolines; and protective products including wrist guards, elbow/knee pads and helmets.
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Issuance of Credits. Each Credit shall be issued by the Bank at its ------------------- option, but if so issued, then substantially in accordance with the Customer's application, including any amendments thereto. As used in this Agreement, the term "Customer" means any party signing the application for a Credit, whether as applicant or account party. Each Credit shall be issued by the Bank subject to the terms and conditions of this Agreement.
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Issuance of Credits. Proxhill has the full right and authority to issue the Prepaid Purchase Order to the Company hereunder and the same when issued, will be duly and validly issued.
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Issuance of Credits. The Bank will issue the Credit for the account of the Guarantor and for the benefit of the Assuming Bank on the date hereof and subject to the terms and conditions set forth in the Interbank Agreement.
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Issuance of Credits. Subject to the terms and conditions of this Agreement, the Bank agrees to issue Credits to Beneficiaries at any time and from time to time prior to April 28, 2005 (such period, as it may be earlier terminated pursuant to Section 2(b) or Section 14 of this Agreement being the “Facility Term”) upon the written request of an Applicant (in the form of Exhibit B hereto, as the same may be modified from time to time to reflect changes in the form of the Bank’s customary letter of credit application), but only so long as, on the date of issuance, and after giving effect to such issuance, (i) no Event of Default or Potential Default then exists or would then exist, (ii) the Applicants’ representations in Section 12 of this Agreement are and would be true and correct in all material respects, and (iii) the sum of (A) the aggregate undrawn face amount of all then outstanding Credits (including the Credit then proposed to be issued) and (B) the aggregate amount of all sums then owing to the Bank pursuant to Section 3 of this Agreement shall not be greater than the Facility Maximum. Notwithstanding the provisions of the immediately preceding sentence, if the “Expiration Date” of the Credit Agreement is extended pursuant to an amendment or other writing to which the Bank is a party, the Facility Term shall automatically and without further action by the Bank or the Applicants be extended to end on the date that is the earlier of (A) November 7, 2005 and (B) the “Expiration Date” of the Credit Agreement, as so extended by such amendment or other writing.
Sample 1
Issuance of Credits. The Bank hereby agrees to issue Letters of Credit for and on behalf of Borrower for the purpose of (a) supporting the Borrower's workxxx'x xxxpensation self-insurance program, and (b) bonding and liability insurance, provided that the aggregate amount of Advances outstanding at any time plus the then outstanding Letter of credit Obligations shall not exceed the Revolving Credit Limit. .
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Issuance of Credits 
Sample 1

Related to Issuance of Credits

  • Issuance of Letters of Credit The Borrower may at any time prior to the Expiration Date request the issuance of a standby or trade letter of credit (each a “Letter of Credit”) on behalf of itself or another Loan Party, or the amendment or extension of an existing Letter of Credit, by delivering or having such other Loan Party deliver to the Issuing Lender (with a copy to the Administrative Agent) a completed application and agreement for letters of credit, or request for such amendment or extension, as applicable, in such form as the Issuing Lender may specify from time to time by no later than 10:00 a.m. at least five (5) Business Days, or such shorter period as may be agreed to by the Issuing Lender, in advance of the proposed date of issuance. Promptly after receipt of any letter of credit application, the Issuing Lender shall confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit application and if not, such Issuing Lender will provide Administrative Agent with a copy thereof. Unless the Issuing Lender has received notice from any Lender, Administrative Agent or the Borrower, at least one day prior to the requested date of issuance, amendment or extension of the applicable Letter of Credit, that one or more applicable conditions in Section 7 [Conditions of Lending and Issuance of Letters of Credit] is not satisfied, then, subject to the terms and conditions hereof and in reliance on the agreements of the other Lenders set forth in this Section 2.8, the Issuing Lender or any of the Issuing Lender’s Affiliates will issue a Letter of Credit or agree to such amendment or extension, provided that each Letter of Credit shall (A) have a maximum maturity of twelve (12) months from the date of issuance, and (B) in no event expire later than the Expiration Date and provided further that in no event shall (i) the Letter of Credit Obligations exceed, at any one time, $20,000,000 (the “Letter of Credit Sublimit”) or (ii) the Revolving Facility Usage exceed, at any one time, the Revolving Credit Commitments. Each request by the Borrower for the issuance, amendment or extension of a Letter of Credit shall be deemed to be a representation by the Borrower that it shall be in compliance with the preceding sentence and with Section 7 [Conditions of Lending and Issuance of Letters of Credit] after giving effect to the requested issuance, amendment or extension of such Letter of Credit. Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to the beneficiary thereof, the applicable Issuing Lender will also deliver to Borrower and Administrative Agent a true and complete copy of such Letter of Credit or amendment.

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Issuance of Letter of Credit Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in subsection 4.3, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender's standard operating procedures.

  • Use of Credit Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin Stock.

  • Issuance of Commitment Shares Immediately upon the execution of this Agreement, the Company shall issue to the Investor as consideration for the Investor entering into this Agreement 1,181,102 shares of Common Stock (the "Initial Commitment Shares") and shall deliver to the Transfer Agent a letter in the form as set forth as Exhibit E attached hereto with respect to the issuance of the Initial Commitment Shares. In connection with each purchase of Purchase Shares hereunder, the Company agrees to issue to the Investor a number of shares of Common Stock (the “Additional Commitment Shares” and together with the Initial Commitment Shares, the “Commitment Shares”) equal to the product of (x) 1,181,102 and (y) the Purchase Amount Fraction. The “Purchase Amount Fraction” shall mean a fraction, the numerator of which is the Purchase Amount purchased by the Investor with respect to such purchase of Purchase Shares and the denominator of which is Four Million Nine Hundred Thousand Dollars ($4,900,000). The Additional Commitment Shares shall be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction. The Initial Commitment Shares shall be issued in certificated form and shall bear the Restrictive Legend. The Investor agrees that the Investor shall not pledge, transfer or sell the Commitment Shares until the earlier of (a) 600 Business Days (30 Monthly Periods) from the date hereof or (b) the date on which this Agreement has been terminated, provided, however, that such restrictions shall not apply: (i) in connection with any transfers to or among affiliates (as defined in the Exchange Act), or (ii) if an Event of Default has occurred, or any event which, after notice and/or lapse of time, would become an Event of Default, including any failure by the Company to timely issue Purchase Shares under this Agreement. Notwithstanding the forgoing, the Investor may transfer Commitment Shares to a third party in order to settle a sale made by the Investor where the Investor reasonably expects the Company to deliver additional Purchase Shares to the Investor under this Agreement so long as the Investor maintains ownership of the amount of Commitment Shares received up to that point by "replacing" such Commitment Shares so transferred with new Purchase Shares when the new Purchase Shares are actually issued by the Company to the Investor.

  • Issuance of Debt On the date of receipt by Company or any of its Subsidiaries of any Cash proceeds from the incurrence of any Indebtedness of Company or any of its Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.1), Company shall prepay the Loans in an aggregate amount equal to 100% of such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses.

  • Application of credit balances Each Creditor Party may without prior notice:

  • Incremental Credit Extensions (a) The Borrowers may at any time or from time to time on one or more occasions after the Effective Date request (i) one or more additional Classes of term loans (each, an “Incremental Term Facility”), (ii) one or more additional term loans of the same Class of any existing Class of term loans (each, an “Incremental Term Increase”), (iii) one or more increases in the amount of the Revolving Commitments of any Class (each such increase, an “Incremental Revolving Commitment Increase”) and/or (iv) one or more additional Classes of Revolving Commitments (the “Additional/Replacement Revolving Commitments,” and, together with any Incremental Term Facility, Incremental Term Increase and the Incremental Revolving Commitment Increases, the “Incremental Facilities”); provided that (x) after giving effect to any Incremental Facility Amendment referred to below and at the time that any such Incremental Facility is made or effected, no Event of Default (or, in the case of the incurrence or provision of any Incremental Facility in connection with a Limited Condition Transaction, no Specified Event of Default) shall have occurred and be continuing and (y) in no event shall it be a condition to the effectiveness of, or borrowing under, any Incremental Facility that any representation or warranty of any Loan Party set forth herein be true and correct, except and solely to the extent required by the Additional Lenders providing such Incremental Facility. Notwithstanding anything to the contrary herein, the aggregate principal amount of the Incremental Facilities that can be incurred at any time shall not exceed the Incremental Cap at such time. Each Incremental Facility shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof (unless the Borrowers and the Administrative Agent otherwise agree); provided that such amount may be less than $5,000,000 if such amount represents all the remaining availability under the aggregate principal amount of Incremental Facilities set forth above.

  • Each Credit Extension The Lenders shall not be required to make any Credit Extension unless on the applicable Credit Extension Date:

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