Letter of Credit Liability. Upon the occurrence and during the continuance of an Event of Default and at the direction of Administrative Agent, or in the event any Letters of Credit are outstanding at the time that Borrower terminates the Revolver Loan Commitment, then (A) with respect to each such Letter of Credit, Borrower shall either (i) deliver to Administrative Agent for the benefit of all Lenders with a Revolver Loan Commitment a letter of credit in the same currency that such Letter of Credit is payable, with a term that extends 60 days beyond the expiration date of such Letter of Credit, issued by a bank satisfactory to Administrative Agent and in an amount equal to 103% of the aggregate outstanding Letter of Credit Liability with respect to such Letter of Credit, which letter of credit shall be drawable by Administrative Agent to reimburse payments of drafts drawn under such Letter of Credit and to pay any fees and expenses related thereto or (ii) immediately deposit with Administrative Agent an amount equal to the aggregate outstanding Letter of Credit Liability to enable Administrative Agent to make payments under the Letters of Credit when required and such amount shall become immediately due and payable, and (B) Borrower shall prepay the fees payable under Subsection 1.4(E) with respect to all such Letters of Credit for the full remaining terms of such Letters of Credit. Upon termination of any such Letter of Credit, the unearned portion of such prepaid fee attributable to such Letter of Credit shall be refunded to Borrower.
Letter of Credit Liability. Upon the occurrence and during -------------------------- the continuance of an Event of Default, and in the event any Letters of Credit are outstanding at the time that Borrower terminates the Revolving Loan Commitment, then (a) with respect to each such Letter of Credit, Borrower shall either (i) deliver to CoBank a letter of credit in the same currency that such Letter of Credit is payable, with a term that extends 60 days beyond the expiration date of such Letter of Credit, issued by a bank satisfactory to CoBank and in an amount equal to 105% of the aggregate outstanding Letter of Credit Liability with respect to such Letter of Credit, which letter of credit shall be drawable by CoBank to reimburse payments of drafts drawn under such Letter of Credit and to pay any fees and expenses related thereto or (ii) immediately deposit with CoBank an amount equal to the aggregate outstanding Letter of Credit Liability to enable CoBank to make payments under the Letters of Credit when required and such amount shall become immediately due and payable, and (b) Borrower shall prepay the fees payable under Subsection 1.4(E) with respect to all such Letters of Credit for the full remaining terms of such Letters of Credit. Upon termination of any such Letter of Credit, the unearned portion of such prepaid fee attributable to such Letter of Credit shall be refunded to Borrower.
Letter of Credit Liability. Notwithstanding anything to the contrary set forth in clause (i) of Section 3.1 of the Loan Agreement, from and after the date hereof, the aggregate outstanding amount of the Letter of Credit Liability (excluding the Letter of Credit Liability arising in connection with any Letter of Credit issued to the Village of Kildeer pursuant to Section 5(c) above) shall at no time exceed $3,500,000. (c)
Letter of Credit Liability. Letter of Credit Liability" means all reimbursement and ---------------------------- other liabilities of any Borrower with respect to each Lender Letter of Credit, including without duplication: (a) the amount available to be drawn at the time of determination; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not debited to the Revolving Facility or the Term Facility pursuant to Section 2.1A(e)(1), as applicable, or otherwise reimbursed; and (c) all unpaid interest, fees and expenses related thereto.
Letter of Credit Liability. In the event any Letters of Credit are outstanding at the time that Borrower prepays the Obligations or terminates the Revolving Loan Commitment, then (a) with respect to each such Letter of Credit, Borrower shall deliver to Agent for the benefit of all Lenders with a Revolving Loan Commitment a letter of credit in the same currency that such Letter of Credit is payable, with a term that extends 60 days beyond the expiration date of such Letter of Credit, issued by a bank satisfactory to Agent and in an amount equal to one hundred and five percent (105%) of the aggregate outstanding Letter of Credit
Letter of Credit Liability. (B) guaranties of the Obligations and of the Senior Notes;
Letter of Credit Liability. As of any date of determination, all then-existing liabilities of the Borrowers to the Issuing Bank in respect of the Letters of Credit Issued for the account of any and all of the Borrowers, whether such liability is contingent or fixed, and shall, in each case, consist of the sum of (i) the aggregate maximum amount then available to be drawn under such Letters of Credit (the determination of such maximum amount to assume compliance with all conditions for drawing) and (ii) the aggregate amount which has then been paid by, and not been reimbursed to, the Issuing Bank under such Letters of Credit.
Letter of Credit Liability. In the event any Letters of Credit are outstanding at the time that Borrower prepays the Obligations or terminates the Revolving Loan Commitment, then (a) with respect to each such Letter of Credit, Borrower shall deliver to Agent for the benefit of all Lenders with a Revolving Loan Commitment a letter of credit in the same currency that such Letter of Credit is payable, with a term that extends 60 days beyond the expiration date of such Letter of Credit, issued by a bank satisfactory to Agent and in an amount equal to one hundred and five percent (105%) of the aggregate outstanding Letter of Credit Liability with respect to such Letter of Credit, which letter of credit shall be drawable by Agent to reimburse payments of drafts drawn under such Letter of Credit and to pay any fees and expenses related thereto, and (b) Borrower shall prepay the fee payable under subsection 1.2(C) with respect to all such Letters of Credit for the full remaining terms of such Letters of Credit. Upon termination of any such Letter of Credit, the unearned portion of such prepaid fee attributable to such Letter of Credit shall be refunded to Borrower.
Letter of Credit Liability. If at any time the aggregate principal amount of the Revolving Credit Facility B Loans then outstanding plus the Revolving Credit Facility B Letter of Credit Liability then ---- existing exceeds the Revolving Credit Facility B Commitment, the Borrower shall make a prepayment to the extent of such excess, without premium or penalty, of the Revolving Credit Facility B Loans, and then, to the extent of any remaining excess, provide cash collateral in respect of Revolving Credit Facility B Letter of Credit Liability.
Letter of Credit Liability. 15 SECTION 2 AFFIRMATIXX XXXXXXXXX........................................... 15
