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.

  • DELIVERY UPON TERMINATION OR EXPIRATION No later than the first calendar day after the termination or expiration of the Contract or upon System Agency’s request, Grantee shall deliver to System Agency all completed, or partially completed, Work Product, including any Incorporated Pre-existing Works, and any and all versions thereof. Xxxxxxx’s failure to timely deliver such Work Product is a material breach of the Contract. Grantee will not retain any copies of the Work Product or any documentation or other products or results of Grantee’s activities under the Contract without the prior written consent of System Agency.

  • 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.

  • Offer Expiration This offer to purchase the Property as outlined in this Agreement shall be deemed revoked and the Xxxxxxx Money shall be returned unless this Agreement is signed by Seller and a copy of this Agreement is personally given to the Buyer by , 20 at : ☐ AM ☐ PM.

  • 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”).

  • 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.

  • Issuance and Purchase of the Notes (a) Delivery of the Funding Agreement and the Guarantee to the Custodian, on behalf of the Indenture Trustee, pursuant to the Assignment or execution of the cross receipt contained in the Closing Instrument shall be confirmation of payment by the Trust for the Funding Agreement.

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