Amount and Terms of Letters of Credit Sample Clauses

Amount and Terms of Letters of Credit. (a) LETTER OF CREDIT COMMITMENTS, TERMS OF LETTERS OF CREDIT.
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Amount and Terms of Letters of Credit. Within the Revolving Line of Credit and Availability, the Agent on behalf of the Lenders shall assist each of the Companies in obtaining Letter(s) of Credit in an amount not to exceed the outstanding amount of the Letter of Credit Sub-Line. The Agent's assistance for amounts in excess of the limitation set forth herein shall at all times and in all respects be in the Agent's sole discretion. It is understood that the term, form and purpose of each Letter of Credit and all documentation in connection therewith (including any Letter of Credit Guaranty), and any amendments, modifications or extensions thereof, must be mutually acceptable to the Agent, the Issuing Bank and the Companies, provided that Letters of Credit (or Letter of Credit Guaranties) shall not be used for the purchase of domestic Inventory or to secure present or future debt owed to domestic Inventory suppliers. Any and all outstanding Letters of Credit (including, without duplication, any Letter of Credit Guaranties) issued hereunder for any Company shall be reserved dollar for dollar (to the extent of any un-drawn liability thereunder or in connection therewith) from Availability as part of the Availability Reserve. Agent and Lenders hereby acknowledge and agree that Letters of Credit may be issued by a Company to or on behalf of Parent as the beneficiary thereof to be used by Parent in connection with any legitimate business purpose of Parent in the ordinary course of its business, including, without limitation, obtaining or maintaining Workmen's Compensation insurance, PROVIDED that Parent execute and deliver to the Companies a reimbursement agreement and an indemnification agreement subordinated to the Senior Note Debt to the extent expressly required by the terms of the Senior Note Indenture, and otherwise reasonably acceptable to Agent with respect to each such Letter of Credit.
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Amount and Terms of Letters of Credit. Section 2.1 Letters of Credit 11 Section 2.2 Letter of Credit Drawings 12
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Amount and Terms of Letters of Credit. 1. Section 2.01A of the Letter of Credit Agreement is hereby amended by deleting the phrase "Subordinated Note" therefrom and substituting therefor the phrase "Senior Note".
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Amount and Terms of Letters of Credit. (a) Letter of Credit Commitments; Terms of
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Amount and Terms of Letters of Credit. A. Section 2.01B(ii) of the Letter of Credit Agreement is hereby amended by deleting it in its entirety and substituting the following therefor
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Amount and Terms of Letters of Credit. (a) Letter of Credit Commitments, Terms of Letters of Credit. --------------------------------------------------------
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Amount and Terms of Letters of Credit. 3.1 L/C Facility. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in subsections 3.4(a) and (b), agrees to issue any letter of credit ("Letters of Credit") requested to be issued by it for the account of the Company on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) be either (x) a standby letter of credit issued to support obligations of the Company or any of its Subsidiaries, contingent or otherwise, which are of a type for which Loans would be available if the obligations were then due and payable (including, without limitation, to support insurance and workmen's compensation obligations) (a "Standby Letter of Credit"), or (y) a documentary letter of credit in respect of the purchase of goods or services by the Company or any of its Subsidiaries in the ordinary course of business (a "Commercial Letter of Credit") and (iii) expire no later than the earlier of (x) one year from the date of issue and (y) five Business Days prior to the Termination Date; provided that any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y)); and provided, further, that the Undrawn L/C Obligations in respect of each Letter of Credit which expires after the last day of the Commitment Period shall be Fully Secured from and after such day.
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Amount and Terms of Letters of Credit 
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Related to Amount and Terms of Letters of Credit

  • 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).

  • Amount and Terms of Credit 1.1 Credit Facilities

  • 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

  • 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.

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

  • Amount and Terms of Loans 2.1 Revolving Credit Loans

  • Amount and Terms of Revolving Commitments 2.1 [Reserved].

  • Amount and Terms of the Commitments 30 Section 2.1. General Description of Facilities 30 Section 2.2. Revolving Loans 31 Section 2.3. Procedure for Revolving Borrowings 31 Section 2.4. Swingline Commitment 31 Section 2.5. Funding of Borrowings 33 Section 2.6. Interest Elections 33 Section 2.7. Optional Reduction and Termination of Commitments 34 Section 2.8. Repayment of Loans 35 Section 2.9. Evidence of Indebtedness 35 Section 2.10. Optional Prepayments 35 Section 2.11. Mandatory Prepayments 36 Section 2.12. Interest on Loans 36 Section 2.13. Fees 37 Section 2.14. Computation of Interest and Fees 38 Section 2.15. Inability to Determine Interest Rates 38 Section 2.16. Illegality 38 Section 2.17. Increased Costs 39 Section 2.18. Funding Indemnity 40 Section 2.19. Taxes 40 Section 2.20. Payments Generally; Pro Rata Treatment; Sharing of Set-offs 43 Section 2.21. Letters of Credit 45 Section 2.22. Increase of Commitments; Additional Lenders 49 Section 2.23. Mitigation of Obligations 52 Section 2.24. Replacement of Lenders 52 Section 2.25. Defaulting Lenders 53 Section 2.26. All Obligations to Constitute Joint and Several Obligations 54 ARTICLE III

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

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