Common use of As to Letter-of-Credit Rights Clause in Contracts

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights ) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter of Credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 6 contracts

Samples: Credit Agreement (SWIFT TRANSPORTATION Co), Credit Agreement (SWIFT TRANSPORTATION Co), Credit Agreement (Swift Transportation Co)

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As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its LetterReceivables consisting of letter-of-Credit Rights credit rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds proceeds of all Letter-of-Credit Rights Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Such Each Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds proceeds thereof in pursuant to a consent agreement in form and substance reasonably satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 3 contracts

Samples: Security Agreement (Quantum Corp /De/), Security Agreement (NCO Teleservices, Inc.), First Lien Security Agreement (Terremark Worldwide Inc)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the Collateral Administrative Agent, intends to (and hereby does) collaterally assign to the Collateral Administrative Agent its rights (including its contingent rights rights) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent agreement in form and substance satisfactory to the Collateral Administrative Agent and deliver written evidence of such consent to the Collateral Administrative Agent.

Appears in 3 contracts

Samples: Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (GENTHERM Inc)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its LetterReceivables consisting of letter-of-Credit Rights credit rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds proceeds of all Letter-of-Credit Rights Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit in favor of Grantor and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds proceeds thereof in pursuant to a consent agreement in form and substance reasonably satisfactory to the Collateral Agent Secured Parties and deliver written evidence of such consent to the Collateral Agent.

Appears in 3 contracts

Samples: Guaranty and Security Agreement (Applied Dna Sciences Inc), Securities Purchase Agreement (Applied Dna Sciences Inc), Security Agreement (Applied Dna Sciences Inc)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights ) to the Proceeds of all individual Letter-of-Credit Rights in excess of $2,000,000 of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each such Letter of Credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent agreement in form and substance reasonably satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the Collateral AgentTrustee, intends to (and hereby does) collaterally assign to the Collateral Agent Trustee its rights (including its contingent rights ) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter of Credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent agreement in form and substance reasonably satisfactory to the Collateral Agent Trustee and deliver written evidence of such consent to the Collateral AgentTrustee.

Appears in 2 contracts

Samples: Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Letter-of-Credit Rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights ) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially F-28 Form of Security Agreement reasonable best efforts to cause the issuer of each Letter of Credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent F-20 Form of Security Agreement Appendix A agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (SWIFT TRANSPORTATION Co)

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As to Letter-of-Credit Rights. (a) 13.1. Each Grantor, by granting a security interest in its LetterReceivables consisting of letter-of-Credit Rights credit rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds proceeds of all Letter-of-Credit Rights Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Such Each Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds proceeds thereof in pursuant to a consent agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (TLC Vision Corp)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its LetterReceivables consisting of letter-of-Credit Rights credit rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds proceeds of all Letter-of-Credit Rights Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Such Each Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds proceeds thereof in pursuant to a consent agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (TLC Vision Corp)

As to Letter-of-Credit Rights. (a) Each GrantorGrantor other than the Parent, by granting a security interest in its Letter-of-Credit Rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds of all Letter-of-Credit Rights of which it is or hereafter becomes a beneficiary or assignee. Such Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds thereof in a consent agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 1 contract

Samples: Pledge and Security Agreement (Air Lease Corp)

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its LetterReceivables consisting of letter-of-Credit Rights credit rights to the Collateral Agent, intends to (and hereby does) collaterally assign to the Collateral Agent its rights (including its contingent rights rights) to the Proceeds proceeds of all Letter-of-Credit Rights Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Such Each Grantor will promptly use its commercially reasonable best efforts to cause the issuer of each Letter letter of Credit credit and each nominated person (if any) with respect thereto to consent to such assignment of the Proceeds proceeds thereof in pursuant to a consent agreement in form and substance satisfactory to the Collateral Agent and deliver written evidence of such consent to the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Cig Wireless Corp.)

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