Fronting Banks. The provisions of this Article X (other than Section 10.2) shall apply to the Fronting Banks mutatis mutandis to the same extent as such provisions apply to the Administrative Agent.
Fronting Banks. (a) From time to time MBIA shall have the right, with the consent of the Administrative Agent and each affected Fronting Bank, to designate one or more Banks as Fronting Banks with respect to one or more other Banks under this Agreement. The designation of a Bank as a Fronting Bank shall become effective when (i) MBIA, the Administrative Agent and such Bank have entered into a Fronting Bank Supplement (or on such later date as may be set forth in such Fronting Bank Supplement), which shall set forth the Fronting Bank Commitment of such Bank with respect to each other Bank for which it is acting as Fronting Bank, and (ii) MBIA shall have duly executed and delivered to such Fronting Bank a Fronting Bank Note in the aggregate amount of its Fronting Bank Commitments, dated the date of such Fronting Bank Supplement (or of any applicable modification thereto), payable to the order of such Fronting Bank for the account of its applicable Lending Office and substantially in the form of Exhibit H hereto. Each Fronting Bank's Fronting Bank Note shall evidence Fronting Bank Loans made by such Fronting Bank pursuant to this Section 2.11 and otherwise shall constitute a Note for all purposes under this Agreement and the Loan Documents. A Fronting Bank Supplement may be amended or otherwise modified from time to time or terminated with the written consent of MBIA, the Administrative Agent and the Fronting Bank which is a party thereto.
Fronting Banks. (a) Each Fronting Bank shall execute and deliver to the Administrative Agent a Fronting Bank Agreement in substantially the form of Exhibit D hereto prior to issuing any letters of credit at the request or for the benefit of the Borrower. Upon execution and delivery by a Fronting Bank to the Administrative Agent of a Fronting Bank Agreement, such Fronting Bank, shall become a party to this Agreement and shall have all the rights and obligations of a Fronting Bank as set forth herein. If the Fronting Bank is not incorporated under the laws of the United States of America or a state thereof, it shall deliver to the Borrower and the Administrative Agent certification as to exemption from, or reduction in, deduction or withholding of any United States federal income taxes as required by Section 8.04.
Fronting Banks. (a) Notwithstanding the definition of Fronting Bank but subject to the provisos to the first sentence of §3.1.2(a), in the event that the Borrower reasonably determines that it would be beneficial to have a Letter of Credit issued by a Revolving Credit Bank with a higher rating than each of the then existing Fronting Banks has at any applicable time of reference (as determined by Xxxxx’x or S&P), or if any Fronting Bank is not able or willing to issue a Letter of Credit in an Alternative Currency, or for any other reason acceptable to the Agent, the Borrower shall have the right to elect any Revolving Credit Bank having a higher rating than each of the then existing Fronting Banks, or able and willing to issue a Letter of Credit in such Alternative Currency, or such other applicable Revolving Credit Bank, as the Fronting Bank for that particular Letter of Credit, provided that no Bank other than BOA and JPChase shall be required to be a Fronting Bank;
Fronting Banks. Any Lender that is a Fronting Bank may at any time assign all of its Revolving Credit Commitment pursuant to, and subject to the terms of, this Section. If such Fronting Bank ceases to be a Lender, it shall resign as a Fronting Bank. In addition, any Fronting Bank may at any time give notice of its resignation as a Fronting Bank to the Administrative Agent and the Borrower. Upon the resignation of any Fronting Bank, such Fronting Bank’s obligations to issue Fronted Letters of Credit shall terminate, and in the event any Fronted Letters of Credit issued by such Fronting Bank are outstanding at the time of its resignation, the Borrower shall terminate, backstop or cash collateralize such Fronted Letters of Credit or coordinate with any other Fronting Bank to have letters of credit issued in substitution for such Fronted Letters of Credit issued by such Fronting Bank.
Fronting Banks. Except as otherwise provided in these terms, a Fronting Bank must issue a Trade LC requested of it unless any of the following apply (or would apply following the issue of the Trade LC): 107
Fronting Banks. The DM Fronting Bank and the Sterling Fronting Bank, collectively, and each individually a "Fronting Bank".
Fronting Banks. The Borrower has requested (a) the Lenders and the Swingline Lenders to extend credit in order to enable the Borrower, on the terms and subject to the conditions of this Agreement, to borrow (i) on a term basis, Term Loans (such term and each other capitalized term used herein but not defined herein having the meanings given to such terms in Article I) in an aggregate principal amount not to exceed $250,000,000, (ii) on a revolving basis, at any time and from time to time prior to the Revolving Credit Maturity Date, an aggregate principal amount at any time outstanding not in excess of the excess of (A) $500,000,000 over (B) the sum of (I) the aggregate principal amount of the Swingline Loans outstanding at such time and (II) the LC/BA Exposure at such time and (iii) on a revolving basis, at any time and from time to time prior to the Revolving Credit Maturity Date, Swingline Loans in an aggregate principal amount at any time outstanding not to exceed $30,000,000 and (b) on the terms and subject to the conditions of this Agreement, the Fronting Banks to issue Letters of Credit and originate Bankers' Acceptances in an aggregate face amount at any time outstanding not in excess of $155,000,000. On the Restatement Date, (a) (i) Term Borrowings and (ii) Revolving Credit Borrowings not in excess of $[ ] shall be used solely to continue or convert all outstanding term loans and (b) the proceeds of any additional Revolving Credit Borrowings shall be used solely to continue or convert all outstanding revolving loans. The proceeds of Revolving Credit Borrowings following the Restatement Date will be used for the general corporate purposes of the Borrower and the Subsidiaries. The proceeds of the Swingline Loans will also be used for the general corporate purposes of the Borrower and the Subsidiaries. Letters of Credit and Bankers' Acceptances will be used to support obligations of the Borrower and the Subsidiaries incurred in the ordinary course of business of the Borrower and the Subsidiaries. Accordingly, the Borrower, the Lenders, the Managing Agents, the Administrative Agent, the Primary Fronting Bank, the Documentation Agent and the Swingline Lenders agree as follows:
Fronting Banks. 7 ARTICLE 3 REDUCTION, TERMINATION AND EXTENSION OF COMMITMENT............................................. 10 Section 3.1
Fronting Banks. (a) Each (i) Third Party Fronting Bank or (ii) Revolving Credit Loan Bank or (iii) Green Revolving Credit Loan Bank who after the Effective Date agrees to become a Fronting Bank hereunder, shall execute and deliver to the Agent a Revolving Fronting Bank Agreement in substantially the form of Exhibit D hereto prior to issuing any letters of credit at the request or for the benefit of the Borrower. Upon execution and delivery by a Third Party Fronting Bank or such Revolving Credit Loan Bank or Green Revolving Credit Loan Bank to the Agent of a Revolving Fronting Bank Agreement, such Third Party Fronting Bank or such Revolving Credit Loan Bank or Green Revolving Credit Loan Bank, as the case may be, shall become a party to this Agreement and shall have all the rights and obligations of a Fronting Bank as set forth herein. If the Third Party Fronting Bank or such Revolving Credit Loan Bank or Green Revolving Credit Loan Bank is not incorporated under the laws of the United States of America or a state thereof, it shall deliver to the Borrower and the Agent certification as to exemption from, or reduction in, deduction or withholding of any United States federal income taxes as required by Section 8.04.
