Examples of Revolver Letters of Credit in a sentence
The Borrowers will request WC Letters of Credit solely to support Petroleum Product purchases and to secure bonding and performance obligations and will request Revolver Letters of Credit solely for purposes described in clause (b) above with respect to Revolver Loans.
The Borrowers will request WC Letters of Credit and WC Interim Letters of Credit solely to support Petroleum Product purchases and to secure bonding and performance obligations and will request Revolver Letters of Credit solely for purposes described in clause (b) above with respect to Revolver Loans.
For the duration of each such Cleandown Period, the Borrower shall not request, create or incur any Revolving Credit Loans, Swingline Loans or Revolver Letters of Credit to the extent that the aggregate principal amount of all outstanding Revolving Credit Loans, Swingline Loans and Revolver L/C Obligations (after giving effect to any amount requested, created or incurred) would exceed $15,000,000.
References herein to "issue" and derivations thereof with respect to Revolver Letters of Credit shall also include extensions or modifications of any existing Revolver Letters of Credit, unless the context otherwise requires.
After the replacement of a Revolver Issuing Bank hereunder, the replaced Revolver Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of a Revolver Issuing Bank under this Credit Agreement with respect to Revolver Letters of Credit issued by it prior to such replacement, but shall not be required to issue any additional Revolver Letters of Credit or to amend, renew or extend any outstanding Revolver Letters of Credit issued by it.
Coordinate early re-entry for community support agencies (e.g., health agencies, school district, critical infrastructure agencies, etc.) prior to Rescind in preparation for returning evacuees.
This is done in order to provide the statutory accounts of the Local Authority.
On and after the Effective Date, all of the Revolver Letters of Credit and Stand-Alone Letters of Credit (as such terms are defined in the Initial Credit Agreement) shall be Letters of Credit under the Amended Credit Agreement.
Subject to all of the terms and conditions hereof, the Borrower may avail itself of the Commitments through letters of credit (the "Revolver Letters of Credit") issued by Bank of America Illinois (in such capacity as issuer of Revolver Letters of Credit, the "Revolver Issuer") for the Borrower's account, provided that the aggregate outstanding undrawn face amount of Revolver Letters of Credit shall not at any time exceed $20,000,000.
If any Default described in Section 7.1(f) or 7.1(g) occurs with respect to the Borrower, the obligations of the Revolving Lenders to make Revolving Loans hereunder and the obligation of the Issuing Lender to issue Revolver Letters of Credit hereunder shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Administrative Agent, any Lender or the Issuing Lender.