AND THE LETTERS OF CREDIT Sample Clauses

AND THE LETTERS OF CREDIT. Section 2.01. The Advances and the Letters of Credit 46 Section 2.02. Making the Advances 48 Section 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit 52 Section 2.04. Repayment of Advances 54 Section 2.05. Termination or Reduction of the Commitments 55 Section 2.06. Prepayments 56 Section 2.07. Interest 58 Section 2.08. Fees 59 Section 2.09. Conversion and Continuation of Advances 60 Section 2.10. Increased Costs, Etc. 61 Section 2.11. Payments and Computations 63 Section 2.12. Taxes 65 Section 2.13. Sharing of Payments, Etc. 67 Section 2.14. Use of Proceeds 68 Section 2.15. Defaulting Lenders 68 Section 2.16. Evidence of Debt 70 Section 2.17. Increases in Credit Facilities 71 Section 2.18. LIBOR Successor Rate 76 ARTICLE III CONDITIONS OF EFFECTIVENESS, LENDING AND ISSUANCES OF LETTERS OF CREDIT Section 3.01. Conditions Precedent to the Closing Date 77
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AND THE LETTERS OF CREDIT. Section I.4. The Advances and the Letters of Credit 6 Section I.5. Requests for Credit Advances 7 Section I.6. Issuance of and Drawings under Letters of Credit 8 Section I.7. Repayment of Advances and Reimbursement Obligations 10 Section I.8. Obligations Unconditional; Limitations of Liability 10 Section I.9. Voluntary Prepayments and Mandatory Reduction/ Collateralization of Letters of Credit 12 Section I.10. Interest 14 Section I.11. Fees 14 Section I.12. Payments and Computations 15 Section I.13. Evidence of Debt 15 Section I.14. Collateral Account 16 Section I.15. Permitted Contracts and Netting Agreements 17 Article III CONDITIONS TO EFFECTIVENESS AND OF ISSUANCES OF LETTERS OF CREDIT AND ADVANCES Section I.16. Conditions to Effectiveness 17 Section I.17. Conditions Precedent to Initial Advances 19 Section I.18. Conditions Precedent to Certain Issuances and Advances 20 Article II
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Related to AND THE LETTERS OF CREDIT

  • The Advances and the Letters of Credit Section 2.01 The Advances; Extension of Initial Maturity Date. ------------------------------------------------

  • The Letters of Credit Prior to the Closing Date, the Existing Issuing Banks have issued the Existing Letters of Credit which from and after the Closing Date shall constitute Letters of Credit hereunder. Each Issuing Bank (other than the Existing Issuing Banks) severally agrees, on the terms and conditions hereinafter set forth, to issue letters of credit (the “Letters of Credit”) in U.S. Dollars for the account of the Borrower in support of obligations (including, without limitation, performance, bid and similar bonding obligations and credit enhancement) of the Borrower and its Affiliates, from time to time on any Business Day during the period from the Effective Date until the Business Day before the Termination Date in an aggregate Available Amount (i) for all Letters of Credit issued by such Issuing Bank not to exceed at any time the lesser of (x) the Letter of Credit Facility at such time and (y) such Issuing Bank’s Letter of Credit Commitment at such time and (ii) for each such Letter of Credit not to exceed the Unused Revolving Credit Commitments of the Lenders at such time; provided, however, that in no event shall the aggregate Available Amount for all Letters of Credit exceed $200,000,000; provided, further, that neither Bank of America, National Association, nor SunTrust Bank shall be required, without the consent of such Issuing Bank, to issue Letters of Credit in excess of $100,000,000 outstanding for each such Issuing Bank. No Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the Business Day before the Termination Date. Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(b), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.04(c) and request the issuance of additional Letters of Credit under this Section 2.01(b); provided, however, that neither Bank of America, National Association, nor SunTrust Bank shall be required to issue Letters of Credit in excess of $100,000,000 outstanding for each such Issuing Bank.

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Existing Letters of Credit The parties hereto agree that the Existing Letters of Credit shall be deemed Letters of Credit for all purposes under this Agreement, without any further action by the Borrower.

  • Requesting Letters of Credit The Borrower must make written application for any Letter of Credit at least three Business Days (or such shorter period as may be agreed upon by the LC Issuer) before the date on which the Borrower desires for LC Issuer to issue such Letter of Credit. By making any such written application, unless otherwise expressly stated therein, the Borrower shall be deemed to have represented and warranted that the LC Conditions described in Section 2.07 will be met as of the date of issuance of such Letter of Credit. Each such written application for a Letter of Credit must be made in the form of the Letter of Credit Application. If all LC Conditions for a Letter of Credit have been met as described in Section 2.07 on any Business Day before 11:00 a.m., LC Issuer will issue such Letter of Credit on the same Business Day at LC Issuer’s Lending Office. If the LC Conditions are met as described in Section 2.07 on any Business Day on or after 11:00 a.m., LC Issuer will issue such Letter of Credit on the next succeeding Business Day at LC Issuer’s Lending Office. If any provisions of any LC Application conflict with any provisions of this Agreement, the provisions of this Agreement shall govern and control. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any extension of an Auto-Extension Letter of Credit. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than five Business Days prior to the end of the Commitment Period; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof, or (B) it has received notice (which may be by telephone or in writing) from the Administrative Agent, any Lender or the Borrower on or before the day that is five Business Days before the last day in which notice of non-extension for such Letter of Credit may be given that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and directing the L/C Issuer not to permit such extension.

  • Extended Letters of Credit Each Revolving Lender confirms that its obligations under the immediately preceding subsections (i) and (j) shall be reinstated in full and apply if the delivery of any Cash Collateral in respect of an Extended Letter of Credit is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise.

  • Use of Letters of Credit The Letters of Credit shall be available (and each Borrower agrees that it shall use such Letters of Credit) for general corporate purposes of Holdings and its Subsidiaries.

  • Conditions to Letters of Credit The issuance of any Letter of Credit hereunder (whether or not the applicable Issuing Lender is obligated to issue such Letter of Credit) is subject to the following conditions precedent:

  • Loans and Letters of Credit On the Closing Date:

  • First Loans and Letters of Credit On the Closing Date:

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