Common use of Outstanding Letters of Credit Clause in Contracts

Outstanding Letters of Credit. On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.

Appears in 8 contracts

Samples: Credit Agreement (RPM International Inc/De/), Credit Agreement (RPM International Inc/De/), Credit Agreement (Foster L B Co)

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Outstanding Letters of Credit. On the effective date of such increaseeach Commitment Increase Date, each Increasing Lender and each New Lender (ia) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of each such Letter of Credit and the participation of each other Lender in each such Letter of Credit shall be adjusted accordingly and (iib) will acquire acquire, (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, ) an amount equal to) to its Ratable Share of all outstanding Participation Advances.

Appears in 3 contracts

Samples: Credit Agreement (Penn Virginia Resource Partners L P), Credit Agreement (Penn Virginia Resource Partners L P), Credit Agreement (Penn Virginia Resource Partners L P)

Outstanding Letters of Credit. On the effective date of such increaseCommitment Increase Date, each Increasing Lender and each New Lender (ia) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of each such Letter of Credit and the participation of each other Lender in each such Letter of Credit shall be adjusted accordingly and (iib) will acquire acquire, (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.

Appears in 3 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

Outstanding Letters of Credit. On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its applicable Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its applicable Ratable Share of all outstanding Participation Advances.

Appears in 3 contracts

Samples: Fourth Restatement Agreement (Glatfelter Corp), Credit Agreement (Glatfelter P H Co), Credit Agreement (Glatfelter Corp)

Outstanding Letters of Credit. On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire acquire, (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.

Appears in 2 contracts

Samples: Credit Agreement (Koppers Holdings Inc.), Assignment and Assumption Agreement (Koppers Holdings Inc.)

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Outstanding Letters of Credit. On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.. 2.14

Appears in 2 contracts

Samples: Credit Agreement (Dayton Power & Light Co), Credit Agreement (Ipalco Enterprises, Inc.)

Outstanding Letters of Credit. On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.

Appears in 2 contracts

Samples: Credit Agreement (Ipalco Enterprises, Inc.), Credit Agreement (Ipalco Enterprises, Inc.)

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