THE FACILITY - GENERAL PROVISIONS. 2.1 Overall Maximum Limit The overall maximum limit of the Facility shall not exceed £90,000,000 and, unless the Agent (with the approval of all of the Banks) otherwise agrees in writing, no Letter of Credit shall be issued if such limit has been or would thereby be exceeded.
Appears in 3 contracts
Samples: Facility Agreement, Facility Agreement (Max Capital Group Ltd.), Facility Agreement (Max Capital Group Ltd.)
THE FACILITY - GENERAL PROVISIONS. 2.1 Overall Maximum Limit The overall maximum limit of the Facility shall not exceed £90,000,000 235,000,000 (based on the Sterling Equivalent Amount of the face amount of the Letters of Credit determined at the date of each utilisation) and, unless the Agent (with the approval of all of the Banks) otherwise agrees in writing, no Letter of Credit shall be issued if such limit has been or would thereby be exceeded.
Appears in 1 contract
Samples: Facility Agreement (Amtrust Financial Services, Inc.)
THE FACILITY - GENERAL PROVISIONS. 2.1 Overall Maximum Limit The overall maximum limit of the Facility shall not exceed £90,000,000 200,000,000 (based on the Sterling Equivalent Amount of the face amount of the Letters of Credit determined at the date of each utilisation) and, unless the Agent (with the approval of all of the Banks) otherwise agrees in writing, no Letter of Credit shall be issued if such limit has been or would thereby be exceeded.
Appears in 1 contract
Samples: Facility Agreement (Amtrust Financial Services, Inc.)
