ISSUANCE AND EXPIRATION Sample Clauses

ISSUANCE AND EXPIRATION. Prior to the Line Expiration Date, the Agent agrees to issue Standby L/Cs for the account of the Borrower, provided that the Borrower is in compliance with the terms of this Agreement. Each Standby L/C must have a maximum expiry of no later than the Line Expiration Date, unless approved for a longer time period by the Banks in their discretion. Prior to the issuance of a Standby L/C, the Borrower will execute the Agent's standard Application and Agreement for Irrevocable Standby Letter of Credit (the "Standby L/C Agreement") and such other documents as the Agent deems necessary. At its discretion, the Agent may issue Standby L/Cs in currencies other than U.S. Dollars. The face amount of Standby L/Cs and Documentary L/Cs issued under the Line and any unreimbursed draws shall not at any one time outstanding exceed $ 7,500,000.00.
Sample 1
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ISSUANCE AND EXPIRATION. Prior to the Line Expiration Date, the Agent agrees to issue Documentary L/Cs for the account of the Borrower, provided that the Borrower is in compliance with the terms of this Agreement. Each Documentary L/C must have a maximum expiry of no later than three months beyond the Line Expiration Date and must require drafts payable at sight or for acceptance up to 90 days, but not exceeding three months beyond the Line Expiration Date. Prior to the issuance of a Documentary L/C, the Borrower will execute the Agent's standard Master Security Agreement for Irrevocable Letter of Credit (Commercial) (the "Documentary L/C Agreement") and such other documents as the Agent deems necessary. At its discretion, the Agent may issue Documentary L/Cs in currencies other than U.S. Dollars. The face amount of Documentary L/Cs and Standby L/Cs issued under the Line and any unreimbursed draws shall not at any one time outstanding exceed $ 7,500,000.00.
Sample 1
ISSUANCE AND EXPIRATION. During the Line B Availability Period, the Bank agrees to issue standby letters of credit ("Standby L/Cs") for the account of the Borrower, provided that the Borrower is in compliance with the terms of this Agreement. Each Standby L/C must expire at the earlier of the Line B Expiration Date or 180 days after issuance, or at such time as the Bank and the Borrower may agree to at the time of issuance. Prior to the issuance of a Standby L/C, the Borrower will execute the Bank's standard Application and Agreement for Irrevocable Standby Letter of Credit (the "Standby L/C Agreement") and such other documents as the Bank deems necessary.
Sample 1
ISSUANCE AND EXPIRATION. During the Line B Availability Period, the Bank agrees to issue documentary letters of credit ("Documentary L/Cs") for the account of the Borrower, provided that the Borrower is in compliance with the terms of this Agreement. Each Documentary L/C must expire prior to the Line B Expiration Date or at such time as the Bank and the Borrower agree to at the time of issuance, and must require drafts payable at sight. Prior to the issuance of a Documentary L/C, the Borrower will execute the Bank's standard Application and Agreement for Irrevocable Documentary Letters of Credit (the "Documentary L/C Agreement") and such other documents as the Bank deems necessary.
Sample 1

Related to ISSUANCE AND EXPIRATION

  • Term and Expiration This Agreement shall be effective as of the Effective Date and unless terminated earlier pursuant to Section 9.2 or 9.3, this Agreement shall continue in effect until expiration of all royalty obligations hereunder. Upon expiration of all royalty obligations under this Agreement, such licenses to Merck pursuant to Sections 3.1(a), 3.1(b) and 3.2 as were in effect immediately prior to such expiration shall become fully paid-up, perpetual licenses. *** Confidential Treatment Requested

  • Termination and Expiration 17.1 This Agreement shall become effective upon the Effective Date.

  • Expiration of Warrants Immediately after the Expiry Time, all rights under any Warrant in respect of which the right of acquisition provided for herein shall not have been exercised shall cease and terminate and each Warrant shall be void and of no further force or effect.

  • Commencement and Expiration This Agreement shall commence as of the date first above written and, unless sooner terminated pursuant to Paragraph 5.2 or by operation of law or otherwise, shall expire at the end of the Offering Period.

  • Issuance and Delivery of Shares Once vested, the shares of vested Restricted Stock will be delivered to the Employee via electronic delivery to the Employee’s account with the Company’s stock plan administrator and will be freely transferable by the Employee. The Committee may change the procedure for issuance and delivery of shares of vested Restricted Stock at any time. Notwithstanding any other provision of this Restricted Stock Agreement, the issuance and delivery of the shares of Common Stock under this Paragraph 9 shall be subject to the requirements of Paragraph 12, including restrictions on transfer as provided therein to the extent applicable.

  • Issuance and Repurchase of Shares The Trustees shall have the power to issue, sell, repurchase, redeem, retire, cancel, acquire, hold, resell, reissue, dispose of, transfer, and otherwise deal in, Shares, including Shares in fractional denominations, and, subject to the more detailed provisions set forth in Articles VIII and IX, to apply to any such repurchase, redemption, retirement, cancellation or acquisition of Shares any funds or property whether capital or surplus or otherwise, to the full extent now or hereafter permitted corporations formed under the Delaware General Corporation Law.

  • Expiration of Warrant This Warrant shall expire on the five (5) year anniversary of the Base Date (the “Expiration Date”).

  • Term; Exercise Upon Expiration This warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above; provided, however, that if the Company completes its initial public offering within the three-year period immediately prior to the Expiration Date, the Expiration Date shall automatically be extended until the third anniversary of the effective date of the Company’s initial public offering. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically exercised on the Expiration Date by “cashless” conversion pursuant to Section 1.2.

  • Termination/Expiration Upon termination or expiration of this Lease, Tenant shall, at Tenant's cost, remove any equipment, improvements or storage facilities utilized in connection with any Hazardous Materials and shall clean up, detoxify, repair and otherwise restore the Premises to a condition free of Hazardous Materials, to the extent such condition is caused by Tenant or any assignee or subtenant of Tenant or their respective agents, contractors, employees, licensees or invitees.

  • Termination or Expiration (a) No termination of this Lease prior to the normal ending thereof, by lapse of time or otherwise, shall affect Landlord's right to collect rent for the period prior to termination thereof.

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