Return of Letters of Credit Sample Clauses

Return of Letters of Credit. On the day that any Letter of Credit expires by its terms, the Borrower shall cause the original of such Letter of Credit to be returned by the applicable beneficiary to such Issuing Bank.

Return of Letters of Credit. The United States shall return the --------------------------- Letters of Credit for cancellation when all Obligations shall have been paid in full and no other Government Claims remain outstanding or it is determined, by the United States or pursuant to a final and nonappealable final order of a court of competent jurisdiction, that the Company does not have any liability or obligations to the United States in respect of the Government Claims (the "Cancellation Date"). The United States agrees that Obligations shall have been paid in full for purposes of this Agreement and shall return the Letters of Credit when the current issues being investigated in the areas of laboratory billing, in-patient hospital ▇▇▇▇▇▇▇▇, physician- compensation and relations, home health, and cost reports are resolved with the United States.

Return of Letters of Credit. (a) Buyer shall return to Seller the unused portion of the Development Period Security after the earlier of (A) the date on which Seller has delivered the Delivery Period Security, provided all obligations secured by the Development Period Security have been met, (B) termination of the Agreement, or (C) as provided in Section 10.6. (b) Buyer shall promptly return to Seller the unused portion of the Delivery Period Security after the earlier of: (A) the occurrence of both of the following (i) the Delivery Term has expired or terminated early; and (ii) all payment obligations of the Seller arising under this Agreement, including compensation for penalties, payment of Settlement Amount, indemnification payments or other damages for known claims, and including any obligations arising by virtue of CAISO reruns, are paid in full (whether directly or indirectly such as through set-off or netting) not to exceed three (3) years following the end of the Term; provided that the Parties may mutually agree to reduce the Delivery Period Security during the three (3) year period following the end of the Term to an amount commensurate with Seller’s then-remaining payment obligations; or (B) as provided in Section 10.6.

Return of Letters of Credit. Immediately upon the expiration of any Letter of Credit pursuant to its terms or the satisfaction of all conditions precedent to the right of the Borrower to obtain the return of any Letter of Credit from the beneficiary thereof, the Borrower shall retrieve such original Letter of Credit and return the same or cause it to be returned to the Lender.

Return of Letters of Credit. □The Successor Agency shall, upon the occurrence of the Expiration Date of a Letter of Credit, cause the Trustee to surrender forthwith such Letter of Credit to the Bank for cancellation.

Return of Letters of Credit. (a) Buyer acknowledges and agrees that in connection with, and as required by, the terms and conditions of the Policy, Seller arranged for its lenders (the “Bank”) to issue letters of credit for the benefit of Insurer as security for the obligations of Company under the Policy (the “Letters of Credit”). Buyer acknowledges and agrees that Buyer will not succeed to any rights in the Letters of Credit pursuant to or in connection with this Agreement or the Purchase Agreement. (b) In connection with, and as of the time of, the Closing, Buyer shall (i) deposit or cause to be deposited with the Insurer substitute letters of credit for the benefit of Insurer as security for the obligations of Company under the Policy, and (ii) execute and deliver all agreements, certificates and documents necessary or appropriate and take all steps required to arrange for the Insurer to return and surrender the Letters of Credit to Seller or the Bank for cancellation.

Return of Letters of Credit. All Letters of Credit as defined in and issued under the Construction Credit Agreement shall have been returned by the beneficiary for cancellation (or appropriate arrangements have been made for the return or cancellation of such Letters of Credit on the Conversion Date) and there shall be no letter of credit drawing or letter of credit loan outstanding in respect of such Letters of Credit under the Construction Credit Agreement.