Commitment to Issue Sample Clauses

Commitment to Issue. Borrower may utilize Revolving ------------------- Commitments by requesting that the Fronting Bank issue, and the Fronting Bank, subject to the terms and conditions of this Agreement, shall issue, standby and commercial letters of credit for Borrower's account (such letters of credit being hereinafter referred to as the "Letters of Credit", ----------------- which may be for the benefit of a Subsidiary of Borrower); provided, -------- however, (i) the aggregate amount of outstanding Letter of Credit ------- Liabilities shall not at any time exceed Fifteen Million Dollars ($15,000,000), (ii) the Outstanding Revolving Credit shall not at any time exceed the maximum amount prescribed by Section 2.1, and (iii) the ----------- Outstanding Revolving Credit applicable to any Lender shall not at any time exceed the maximum amount for a Lender prescribed by Section 2.1. Upon the ----------- date of issue of a Letter of Credit, Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each Lender who holds a Revolving Commitment, and each such Lender shall be deemed, without further action by any party hereto, to have purchased from Administrative Agent, a participation to the extent of such Lender's Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities.
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Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue standby or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, being hereinafter referred to collectively as the "Letters of Credit"); provided, however, (i) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitments, and (ii) the Outstanding Revolving Credit applicable to a Revolving Bank shall not at any time exceed such Revolving Bank's Revolving Commitment. Upon the date of issue of a Letter of Credit, the Agent shall be deemed, without further action by any party hereto, to have sold to each other Revolving Bank, and each other Revolving Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Revolving Bank's Revolving Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities. On and after the Closing Date, the Existing Letters of Credit shall be and be deemed to be "Letters of Credit" issued hereunder and each Revolving Bank shall be deemed to have purchased a participation in an amount equal to such Revolving Bank's Revolving Commitment Percentage of the Existing Letters of Credit.
Commitment to Issue. The Borrower may request Revolving Advances by the Lender, and the Lender, subject to the terms and conditions of this Fifth Supplement, may, in its sole discretion, issue letters of credit for any Borrower’s account (such letters of credit, being hereinafter referred to collectively as the “Letters of Credit”); provided, however, that:
Commitment to Issue. The Borrower may request Revolving Advances by the Lender, and the Lender, subject to the terms and conditions of this Agreement, may, in its sole discretion, issue letters of credit for any Borrower’s account; provided, however, that:
Commitment to Issue. Borrower may utilize the Commitment in part by requesting that Bank issue, and Bank, subject to the terms and conditions of this Agreement, may, in its reasonable sole discretion, issue standby or commercial letters of credit in a minimum amount of $100,000 for Borrower’s account (such letters of credit being hereinafter referred to collectively as the “Letters of Credit” and each individually, a “Letter of Credit”); provided, however, that:
Commitment to Issue. Subject to and upon the terms and conditions set forth herein, Bank will issue, within five (5) Business Days after receipt of a written application of Borrower, in such form as Bank may designate, at any time and from time to time on or prior to the Expiration Date, for the account of Borrower, one or more documentary (commercial or import) or standby letters of credit which will not exceed $500,000 in the aggregate at any time (each a "Letter of Credit").
Commitment to Issue. The Borrower has requested each L/C Issuer to establish and open, from time to time commencing on the Effective Date to the 21st day prior to the Commitment Termination Date, standby letters of credit, which shall not have expiration dates that exceed 92 days from the date of issuance (the “Letters of Credit”), and each L/C Issuer has agreed to do so, subject to the terms hereof and each Letter of Credit Application (as hereinafter defined). The Borrower will be the account party for each application for a Letter of Credit, which shall be substantially in the form of Exhibit B hereto or on a computer transmission system approved by the applicable L/C Issuer or such other written form or written transmission system as may from time to time be approved by the applicable L/C Issuer, and shall be duly completed in a manner reasonably acceptable to the applicable L/C Issuer, together with such other certificates, agreements, documents and other papers and information as the applicable L/C Issuer may reasonably request (the “Letter of Credit Application”). In the event of any conflict between the terms of the Letter of Credit Application and this Agreement, unless otherwise expressly provided herein, the terms of this Agreement shall control.
Commitment to Issue. The Borrower may utilize the Revolving Loans A Commitments by requesting that the Agent cause the Issuing Bank to issue, and the Agent, subject to the terms and conditions of this Agreement, shall cause the Issuing Bank to issue, standby letters of credit for the Borrower's account (such letters of credit being referred to herein as the "Letters of Credit", which may be for the account of the Borrower or any other Related Party) provided, however (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed $5,000,000 (ii) the aggregate amount of the outstanding Revolving Loans A plus the outstanding Letter of Credit Liabilities shall not any time exceed the Revolving Loans A Commitments. Upon the date of issue of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each Lender who holds a Revolving Loans A Commitment, and each such Lender shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation to the extent of such Lender's Commitment Percentage (calculated with respect to the Revolving Loans A Commitments) in such Letter of Credit and the related Letter of Credit Liabilities. Upon termination of the Revolving Loans A Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of the Agent and the Issuing Bank shall no longer be considered a "Letter of Credit" covered by the terms of this Agreement and any participating interest heretofore granted by the Issuing Bank to the Lenders holding Revolving Loans A Commitments in such Letter of Credit shall be deemed terminated but the letter of credit fees payable hereunder shall continue to accrue to the Issuing Bank with respect to such Letter of Credit until the expiry thereof.