THE ACCOMMODATION COMMITMENTS Sample Clauses

THE ACCOMMODATION COMMITMENTS. (a) The US Borrower on behalf of itself and the other Borrowers acknowledges and confirms that the Specified Issuing Lenders have issued, and that there are outstanding, certain Specified Accommodations under the Existing Credit Agreement (including the Chips Letter of Credit) in the outstanding amount of set forth on Schedule 3.1(a) (the "Existing Accommodations"). The US Borrower on behalf of itself and the other Borrowers hereby represents, warrants, agrees, covenants and reaffirms that (i) it has no (and it permanently and irrevocably waivers, and releases the Specified Issuing Lenders and the Existing Lenders from any, to the extent arising on or prior to the Third Amendment and Restatement Closing Date) defense, setoff, claim or counterclaim against any Specified Issuing Lender or any Existing Lender in regard to any obligation in respect of the Existing Accommodations and (ii) reaffirms its obligation to pay such Obligations in accordance with the terms and provisions of this Agreement and the other Loan Documents. Subject to the terms and conditions hereof, each Specified Issuing Lender, in reliance on the agreements of the other Specified Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue or accept other Specified Accommodations for the account of the Specified Borrower on any Business Day during the Specified Revolving Credit Commitment Period in such form as may be approved from time to time by the Specified Issuing Lender; provided, that, no Specified Issuing Lender shall issue or accept any Specified Accommodation if, after giving effect to such issuance, (i) the Specified Accommodation Outstandings would exceed the Specified Issuing Lender's Accommodation Commitment or (ii) the sum of the Specified Revolving Credit Loans, Specified Swing Line Loans, and Specified Accommodation Outstandings of the Specified Revolving Credit Lenders would exceed the Specified Revolving Credit Commitments of the Specified Revolving Credit Lenders. Each Specified Accommodation shall (i) be (w) the Chips Letter of Credit, (x) a Standby L/C, (y) a Trade L/C or (z) a bankers' acceptance, to the extent included in the Specified Accommodation Commitment and (ii) expire or mature no later than five (5) Business Days prior to the Scheduled Revolving Credit Commitment Termination Date. No Accommodation (other than the Chips Letter of Credit) shall have an expiry or maturity date more than one year after its date of issuance or creation; provided, th...
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Related to THE ACCOMMODATION COMMITMENTS

  • Letter of Credit Accommodations (a) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Lender agrees to provide or arrange for Letter of Credit Accommodations for the account of Borrower containing terms and conditions acceptable to Lender and the issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrower pursuant to this Section 2.

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Conditions Precedent to All Loans and Letter of Credit Accommodations Each of the following is an additional condition precedent to Lender making Loans and/or providing Letter of Credit Accommodations to Borrower, including the initial Loans and Letter of Credit Accommodations and any future Loans and Letter of Credit Accommodations:

  • The Commitment Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.

  • Commitment of the Lenders (a) Each Lender, severally and not jointly with any other Lender, agrees, upon the terms and subject to the conditions herein set forth, to make Credit Extensions to or for the benefit of the Borrowers, on a revolving basis, subject in each case to the following limitations:

  • Conditions Precedent to Initial Loans and Letter of Credit Accommodations Each of the following is a condition precedent to Lender making the initial Loans and providing the initial Letter of Credit Accommodations hereunder:

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Revolving Credit and Swing Loan Facilities 2.1 Revolving Credit Commitments.

  • The Commitments Subject to the terms and conditions set forth herein:

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

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