Common use of Existing Letters of Credit Clause in Contracts

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 7 contracts

Samples: Credit Agreement (Samson Resources Corp), Second Lien Intercreditor Agreement (Samson Resources Corp), Credit Agreement (Samson Resources Corp)

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Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e) shall, effective as of the Closing Date and without any further action by the any Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 4 contracts

Samples: Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Holdings Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(b) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 3 contracts

Samples: Credit Agreement (GCM Grosvenor Inc.), Credit Agreement (Amsurg Corp), Credit Agreement (LPL Investment Holdings Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(b) shall, effective as of the Closing Date and without any further action by the any Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 3 contracts

Samples: Credit Agreement (MultiPlan Corp), Security Agreement (MultiPlan Corp), Credit Agreement (Snap One Holdings Corp.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(c) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 3 contracts

Samples: Extension and Incremental Assumption Agreement (LPL Financial Holdings Inc.), Credit Agreement (LPL Financial Holdings Inc.), Credit Agreement (LPL Financial Holdings Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Agreement Date, listed on Schedule 1.1(e1.1(d) shall, effective as of the Closing Agreement Date and without any further action by the BorrowerBorrowers, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Agreement Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 2 contracts

Samples: Security Agreement (Zayo Group LLC), Credit Agreement (Zayo Group LLC)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(c) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 2 contracts

Samples: Credit Agreement (Athlon Energy Inc.), Credit Agreement (Athlon Energy Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e) 3.9 shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 2 contracts

Samples: Possession Credit Agreement (EP Energy LLC), Credit Agreement (MBOW Four Star, L.L.C.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Initial Closing Date, Date and listed on Schedule 1.1(e) 3.9 shall, effective as of the Initial Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Initial Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereofhereof and shall cease to be outstanding under the Existing Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Gartner Inc), Credit Agreement (Gartner Inc)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, Date and listed on Schedule 1.1(e1.01(c) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 2 contracts

Samples: Credit Agreement (CPI International Holding Corp.), Credit Agreement (CPI International, Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, Date and listed on Schedule 1.1(e) 3.9 shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereofhereof and shall cease to be outstanding under the Existing Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Gartner Inc), Credit Agreement (Gartner Inc)

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Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(b) shall, effective as of the Closing Date and without any further action by the any Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.. 3.10

Appears in 2 contracts

Samples: Credit Agreement (Snap One Holdings Corp.), Credit Agreement (Snap One Holdings Corp.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(b) shall, effective 124 NY\6379601.11 as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Amsurg Corp)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit under the Existing Credit Agreement that is outstanding on the Closing Date, listed on Schedule 1.1(e) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereofhereof and each Lender’s Applicable Percentage of the L/C Obligations then outstanding shall be adjusted to reflect and correspond to the Commitments hereunder after giving effect to the occurrence of the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Gartner Inc)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(d) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Talos Energy Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e) 3.9 shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.. 3.10

Appears in 1 contract

Samples: Credit Agreement (EP Energy Corp)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, listed on Schedule 1.1(e1.1(b) shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and hereunder, from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereof.. 3.12

Appears in 1 contract

Samples: Credit Agreement (GCM Grosvenor Inc.)

Existing Letters of Credit. Subject to the terms and conditions hereof, each Existing Letter of Credit that is outstanding on the Closing Date, Date and listed on Schedule 1.1(e) 3.9 shall, effective as of the Closing Date and without any further action by the Borrower, be continued as a Letter of Credit hereunder and from and after the Closing Date shall be deemed a Letter of Credit for all purposes hereof and shall be subject to and governed by the terms and conditions hereofhereof and shall cease to be outstanding under the Existing Credit Agreement. SECTION 4.

Appears in 1 contract

Samples: Credit Agreement (Gartner Inc)

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