Examples of Standby Letter of Credit Commitment in a sentence
In mediation, the disputing parties are proactive and have full authority in decision making.
No Lender shall be responsible for any default of any other Lender with respect to such other Lender's obligation to make any Loan or Advance hereunder or to fund its purchase of any Participation hereunder nor shall the Tranche A Commitment, Tranche B Commitment, Commercial Letter of Credit Commitment or Standby Letter of Credit Commitment of any Lender hereunder be increased as a result of such default of any other Lender.
ILFP has paid legal costs of approximately $2.4 million while bearing the risk associated with these proceedings.
The Export Loan Commitment and the Standby Letter of Credit Commitment shall each automatically terminate on the Termination Date.
The Standby Letter of Credit Commitment on the Closing Date shall be $20,000,000.
Upon satisfaction of the conditions specified in Section 7 of this Agreement and subject to the limitations of the Standby Letter of Credit Commitment, Lender will issue the Standby Letter of Credit requested to be issued on the date specified in the written request; provided, however, that Lender shall not be obligated to issue or permit a Standby Letter of Credit having a term beyond the earlier of (i) one (1) year from the date of its issuance or (ii) April 15, 1997.
Chase may open, at Borrower's request, Standby Letters of Credit; provided, that, the aggregate amount of Standby Letters of Credit shall not, at any given time, exceed $1,000,000 (the "Standby Letter of Credit Commitment").
Each Lender's annual decision as to whether to extend the Standby Letter of Credit Commitment Termination Date shall be based, in part, on a new credit analysis utilizing then current information in respect of the Borrowers' business, financial condition and operations and other information furnished by the Borrowers.
The aggregate face amount of outstanding Standby Letters of Credit at any time will not exceed the Standby Letter of Credit Commitment.
Subject to the terms and conditions set forth in this Agreement, upon the written request of a Letter of Credit Party in accordance herewith, the Bank shall issue, at any time during the Revolving Credit Commitment Period for the account of such Letter of Credit Party, (i) Commercial Letters of Credit, in an aggregate amount not to exceed the Commercial Letter of Credit Commitment and (ii) Standby Letters of Credit, in an aggregate amount not to exceed the Standby Letter of Credit Commitment.