LCs. Any LC may be renewed, extended, amended, replaced, or canceled consistent with the terms of this agreement by writing executed by the Issuing Lender and Borrower that is first approved by Agent.
LCs. Administrative Agent is served with, or becomes subject to, a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any amount under any LC and either (a) a drawing has occurred under the LC and Borrower has refused to reimburse Administrative Agent for payment or (b) the expiration date of the LC has occurred but the right of any beneficiary thereunder to draw under the LC has been extended past the expiration date in connection with the pendency of the related court action or proceeding and Borrower has failed to deposit with Administrative Agent cash collateral in an amount equal to Administrative Agent’s maximum exposure under the LC.
LCs. (a) Subject to the terms and conditions of this Agreement, the Borrower may from time to time request that the Lender issue one or more LCs for the Borrower’s account for any purpose acceptable to the Lender in its reasonable discretion; provided, however, that the Lender shall not issue any such LC if (i) such issuance would cause the LC Obligations to exceed $5,000,000.00 at the time of such issuance, (ii) the face amount of such LC exceeds the Revolving Loan Available Amount at the time of such issuance, or (iii) the proposed expiry date for the LC is on or after a date which is the earlier of (A) twelve (12) months after its date of issuance or (B) the Maturity Date.”
LCs. LC Issuer shall have been served with, or becomes otherwise subject to, a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any drafts under any LC and either (i) there has been a draft under such LC which LC Issuer would otherwise be obligated to pay and Borrower has refused to reimburse LC Issuer for such payment or (ii) the expiration date of such LC has occurred but the right of any beneficiary thereunder to draw under such LC has been extended past the expiration date in connection with the pendency of the related court action or proceeding and Borrower has failed to deposit with Administrative Agent cash collateral in an amount equal to the maximum drawing which could be made under such LC.
LCs. Agent is served with, or becomes subject to, a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any amount under any LC and either (a) a drawing has occurred under the LC and Borrower has refused to reimburse Agent for payment or (b) the expiration date of the LC has occurred but the right of any beneficiary thereunder to draw under the LC has been extended past the expiration date in connection with the pendency of the related court action or proceeding and Borrower has failed to deposit with Agent cash collateral in an amount equal to Agent's maximum exposure under the LC.
LCs. Agent is served with, or becomes subject to, a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any amount under any LC and either (a) a drawing has occurred under the LC, and Borrower has refused to reimburse the Issuing Lender for payment or (b) the expiration date of the LC has occurred, but the Right of the beneficiary to draw under the LC has been extended past the expiration date in connection with the pendency of the related court action or proceeding, and Borrower has failed to deposit with Agent cash collateral in an amount equal to the Issuing Lender’s maximum exposure under the LC.
LCs. LC Issuer shall have been served with, or becomes otherwise subject to, a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any drafts under any Existing LC and either (i) there has been a draft under such Existing LC which LC Issuer would otherwise be obligated to pay and Borrower has refused to reimburse LC Issuer for such payment or (ii) the expiration date of such Existing LC has occurred but the right of any beneficiary thereunder to draw under such Existing LC has been extended past the expiration date in connection with the pendency of the related court action or proceeding and Borrower has failed to deposit with Administrative Agent Cash Collateral in an amount equal to the maximum drawing which could be made under such Existing LC.
LCs. The certificate of incorporation and bylaws of LCS in effect immediately prior to the Effective Time shall remain in full force and effect after the Effective Time; provided, however, that as of the Effective Time, LCS shall take all actions necessary to amend the certificate of incorporation of LCS in order to: (i) change the name of LCS to Conversion Services International, Inc., (ii) authorize an increase in the total number of shares of capital stock of LCS to one billion twenty million (1,020,000,000) shares; (iii) authorize an increase in the number of shares of Common Stock LCS is authorized to issue to one billion (1,000,000,000) (the AP-1A "Authorization Increase"); (iv) authorize the issuance of twenty million (20,000,000) shares of "blank check" preferred stock, par value $0.001 per share; (v) amend the provisions thereof regarding director liability on terms agreed to by the parties; and (vi) add a provision for director and officer indemnification on terms agreed to by the parties (all such amendments, collectively, the "Amended COI Matters")."
LCs. As of the Effective Time, the parties hereto shall take all actions necessary to cause the following to be effected: (i) the directors of LCS shall be comprised of those persons nominated by CSI's principals and elected by the stockholders of LCS at the LCS Stockholders' Meeting and referenced as such in the Proxy Statement, and no other persons, (ii) the officers of CSI as of the Closing Date shall be appointed as the officers of LCS, and (iii) the officers and directors of LCS prior to the Effective Time shall resign."
LCs. The validity or enforceability of any LC or any provision of this agreement relating to the LC or the LC Exposure shall be contested by any Company, or a proceeding shall be commenced by any Tribunal seeking to establish the invalidity or unenforceability thereof, or Borrower shall deny that it or any other Company has any or further liability or obligation under this agreement relating to any Letters of Credit and any LC Exposure, or Agent is served with or otherwise subject to a court order, injunction, or other process or decree restraining or seeking to restrain it from paying any amount under any LC and either (a) a drawing has occurred under the LC, and Borrower has refused to reimburse Issuing Lender for payment, or (b) the expiration date of the LC has occurred, but the Right of the beneficiary to draw under the LC has been extended past the Revolving Maturity Date in connection with the pendency of the related court action or proceeding, and Borrower has failed to deposit with Agent cash collateral in an amount equal to Issuing Lender's maximum exposure under the LC. CREDIT AGREEMENT
