TDNY definition
Examples of TDNY in a sentence
Upon the appointment of a successor L/C Issuer, (1) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer and (2) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to TDNY to effectively assume the obligations of TDNY with respect to such Letters of Credit.
In the event of any such resignation as L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the resignation of TDNY as L/C Issuer.
If TDNY resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)).
All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked deposit accounts at TDNY.
Notwithstanding anything to the contrary contained herein, if at any time TDNY assigns all of its Commitment and Loans pursuant to subsection (b) above, TDNY may, upon thirty days’ notice to the Borrower and the 4856-8235-6738 v.5 Lenders, resign as L/C Issuer.
On the terms and conditions set forth in the Credit Agreement, TDNY hereby agrees to act as an L/C Issuer under the Credit Agreement and agrees that it, in such capacity, will be bound by and subject to and will comply with the obligations applicable to an L/C Issuer under the Credit Agreement.
Notwithstanding anything to the contrary contained herein, if at any time TDNY assigns all of its Commitment and Loans pursuant to subsection (b) above, TDNY may, upon thirty days’ notice to the Borrower and the Lenders, resign as L/C Issuer.
A permitted assignee or transferee of TD(NY), and any successor, assignee, or transferee of any such permitted assignee or transferee, shall be deemed a party to, and held subject to, all of the terms of this Agreement.
This Agreement shall inure to the benefit of ---------------------- and be binding upon (i) the Company and TD(NY) and their respective successors, (ii) any assignee or transferee of rights and obligations of TD (NY) pursuant to the Facility that acquires Registrable Shares and (iii) any assignee or transferee of rights and obligations of TD(NY) pursuant to the Master Agreement that acquires Registrable Shares.
This Amendment shall become effective on the date (the “Amendment Effective Date”) on which the Administrative Agent shall have received this Amendment, executed and delivered by a duly authorized officer of the Borrower and TDNY.