Common use of Commitment to Issue Letters of Credit Clause in Contracts

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing Bank's customary form (a "Letter of Credit Application"), the Issuing Bank on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing Bank; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 at any one time and (b) the Total Outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Michaels Stores Inc)

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Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 5.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 E10,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the Euro Equivalent of the amount of all Revolving Credit Loans outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cabot Corp)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAdministrative Agent's customary form (a "Letter of Credit Application"), the Issuing Bank Administrative Agent on behalf of the other Banks Lenders and in reliance upon the agreement of the other Banks Lenders set forth in Section 4.1.4 (S)4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAdministrative Agent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 1,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans outstanding shall not exceed the Total CommitmentCommitment at such time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lifeline Systems Inc)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries Borrowers of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 and upon the representations and warranties of the Borrower Borrowers contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries Borrowers one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries Borrowers and agreed to by the Issuing BankAgent; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 10,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Loans outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Restaurant Group Inc)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing Bank's customary form (a "Letter of Credit ApplicationLETTER OF CREDIT APPLICATION"), the Issuing Bank on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing Bank; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 70,000,000 at any one time and (b) the Total Outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Michaels Stores Inc)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 20,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans outstanding shall not exceed the Total CommitmentAvailability.

Appears in 1 contract

Samples: Revolving Credit Agreement (Republic Engineered Steels Inc)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the applicable Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 5.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit")) denominated in Dollars, in such form as may be requested from time to time by the applicable Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 20,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the Dollar Equivalent of the amount of all Revolving Credit Loans outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Flextronics International LTD)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 sec.5.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 15,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans and Swing Line Loans outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Dynatech Corp)

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Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 5.1.4 and upon the representations and warranties of the Borrower contained herein, herein agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 [**] at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Revolving Credit Loans outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Aztec Technology Partners Inc /De/)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAdministrative Agent's customary form (a "Letter of Credit Application"), the Issuing Bank Administrative Agent on behalf of the other Banks Lenders and in reliance upon the agreement of the other Banks Lenders set forth in Section 4.1.4 (S)4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAdministrative Agent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 at any one time and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Loans outstanding shall not exceed the Total CommitmentCommitment at such time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Barnes Group Inc)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAdministrative Agent's customary form (a "Letter of Credit Application"), the Issuing Bank Administrative Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 5.1.4 below and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, agrees to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, each a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAdministrative Agent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount 51 -44- and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 at any one time time, and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Tranche A Loans outstanding shall not exceed the Total CommitmentTranche A Commitment Amount.

Appears in 1 contract

Samples: Term Loan Agreement (Emmis Communications Corp)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAdministrative Agent's customary form (a "Letter of Credit Application"), the Issuing Bank Administrative Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 5.1.4 below and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, agrees to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, each a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAdministrative Agent; PROVIDEDprovided, HOWEVERhowever, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 at any one time time, and (b) the Total Outstanding sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Tranche A Loans outstanding shall not exceed the Total CommitmentTranche A Commitment Amount.

Appears in 1 contract

Samples: Revolving Credit (Emmis Communications Corp)

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof and the execution and delivery by the Borrower or any of its Subsidiaries of a letter of credit application on the Issuing BankAgent's customary form (a "Letter of Credit Application"), the Issuing Bank Agent on behalf of the other Banks and in reliance upon the agreement of the other Banks set forth in Section 4.1.4 and upon the representations and warranties of the Borrower contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrower or any of its Subsidiaries one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrower or any of its Subsidiaries and agreed to by the Issuing BankAgent; PROVIDED, HOWEVER, that, after giving effect to such request, (a) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $50,000,000 5,000,000 at any one time and (b) the Total sum of (i) the Maximum Drawing Amount on all Letters of Credit, (ii) all Unpaid Reimbursement Obligations, and (iii) the amount of all Loans Outstanding shall not exceed the Total Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Charlotte Russe Holding Inc)

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