Amount and Terms of Letter of Credit. (a) LETTER OF CREDIT COMMITMENTS, TERMS OF LETTERS OF CREDIT.
Amount and Terms of Letter of Credit. (a) Letter of Credit Commitments, Terms of Letters of Credit.
Amount and Terms of Letter of Credit. (a) The Bank agrees, on the terms and subject to the conditions hereinafter set forth and relying upon the representations and warranties set forth herein or incorporated herein by reference, to issue the Letter of Credit in an initial stated amount equal to $[Stated Amount] (the “Initial Stated Amount”), representing the maximum principal amount of the Commercial Paper Notes in the amount of $175,000,000 and interest thereon computed on the basis of an assumed interest rate of 10% per annum for a period of 120 days and a year of 365 days. The Letter of Credit shall be issued to the Issuing and Paying Agent on the Closing Date for the account of the City.
Amount and Terms of Letter of Credit. At the request of Corporation, Lender agrees, on the terms and subject to the conditions set forth in this Agreement, including without limitation the conditions set forth in ARTICLE III hereof, to on or before the Date of Delivery cause the issuance of the Letter of Credit by Issuing Bank, in favor of Bank to secure, and to provide a source of payment of, the Loan. The Letter of Credit will be issued in an initial amount equal to the Maximum Credit. The Letter of Credit shall be issued in favor of Bank substantially in the form of EXHIBIT B hereto.
Amount and Terms of Letter of Credit. (a) The Bank agrees, on the terms and subject to the conditions hereinafter set forth and relying upon the representations and warranties set forth herein or incorporated into Section 4.9 hereof by reference, to issue the Letter of Credit in an initial stated amount equal to $107,638,889 (the “Initial Stated Amount”), representing the maximum principal amount of the 2015 GR-6 Notes in the amount of $100,000,000 and interest thereon computed on the basis of an assumed interest rate of ten percent (10%) per annum for a period of 275 days and a year of 360 days. The Letter of Credit shall be issued to the Issuing and Paying Agent for the account of the Authority, and shall be substantially in the form of Exhibit A hereto, with such changes to such form as the Authority and the Bank shall agree in writing are necessary or advisable.
Amount and Terms of Letter of Credit. The Issuing Bank agrees, in reliance on the agreements of the Lenders in Section 2.5 and on the terms and subject to the conditions hereinafter set forth, to issue the Letter of Credit to the Trustee (i) in an amount not to exceed $39,000,000 (the “Principal Component”), plus an amount equal to the sum of 45 days’ interest on the Bonds, computed at a rate of 12% per annum based on a year of 365 days, notwithstanding the actual rate borne from time to time by the Bonds (the “Interest Component”) and (ii) expiring on September 6, 2010, unless otherwise cancelled, terminated or extended.
Amount and Terms of Letter of Credit. The Bank agrees, on the terms and subject to the conditions hereinafter set forth, to issue (i) the Letter of Credit to the Trustee with a Principal Component equal to $4,500,000 initially and with an initial Interest Component of $81,250. The Letter of Credit shall expire on October 16, 1999, unless otherwise terminated or extended. Should the Letter of Credit be extended, the expiration date hereof would be at least two Business Days or five calendar days after an interest payment date on the Bonds.
Amount and Terms of Letter of Credit. At the request of Corporation, each Lender agrees, on the terms and subject to the conditions set forth in this Agreement, including without limitation the conditions set forth in ARTICLE 3 hereof, to on or before the applicable Date of Delivery cause the issuance of a Letter of Credit by a Issuing Bank, in favor of MNB, for the account of Corporation, to secure, and to provide a source of payment of the obligations of the Corporation under the MNB Merchant Agreement. The Letters of Credit will be issued in an initial aggregate amount equal to the Maximum Credit. The Letters of Credit shall be issued in favor of MNB for the account of the Corporation substantially in the form of EXHIBIT C and EXHIBIT D attached hereto.
Amount and Terms of Letter of Credit. The Credit Bank agrees, upon at least 24 hours' prior notice from Company to the Credit Bank and on the terms and subject to the conditions hereinafter set forth, including, without limitation, the conditions set forth in Article 3 hereof, to issue the Letter of Credit on the date of delivery specified herein (the "Date of Issuance"), provided such date of delivery is not later than April 19, 1996, effective upon such delivery date and expiring on the Expiration Date. The Letter of Credit will be issued in an initial Stated Amount of $7,880,000, representing the aggregate principal amount represented by the Bonds as of the Date of Issuance, plus interest on such principal amount for a period of 50 days at a rate not to exceed twelve percent (12%) per annum. The Letter of Credit shall be issued to the Trustee for the account of Company, and shall be substantially in the form of Exhibit A hereto, with such changes to the form set forth in Exhibit A as Company and the Credit Bank shall agree in writing are necessary or advisable.
Amount and Terms of Letter of Credit. At the request of Corporation, Lender agrees, on the terms and subject to the conditions set forth in this Agreement, including without limitation the conditions set forth in ARTICLE III hereof, to on or before the applicable Date of Delivery cause the (i) issuance of a Letter of Credit by Issuing Bank, in favor of Boatmen's POS and/or (ii) issuance of a Letter of Credit by Issuing Bank, in favor of MNB, for the account of Corporation, to secure, and to provide a source of payment of the obligations of the Company under the Boatmen's Merchant Agreement and MNB Merchant Agreement, respectively. The Letters of Credit will be issued in an initial aggregate amount equal to the Maximum Credit. The Letters of Credit shall be issued in favor of Boatmen's POS and MNB for the account of the Corporation substantially in the form of EXHIBIT B and EXHIBIT C attached hereto.
