Common use of Expiration Date Clause in Contracts

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(A) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 8 contracts

Samples: Credit Agreement (Seagate Technology Holdings PLC), Credit Agreement (Seagate Technology Holdings PLC), Credit Agreement (Seagate Technology Holdings PLC)

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Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Revolving Maturity Date; provided, however, that a Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of one year or less (but not beyond the date that is five Business Days prior to the Revolving Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 7 contracts

Samples: Credit Agreement (Nasdaq Stock Market Inc), Credit Agreement (Nasdaq Stock Market Inc), Credit Agreement (Palm Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank ); provided that issued such a Letter of Credit and may be subject to customary “evergreen” provisions pursuant to which the Borrower expiration date thereof shall be automatically extended for a period of up to one year (but in no event shall such date be later than as provided in subject to clause (ii) of this clause (c)sentence) unless notice to the contrary shall have been given by any Issuing Bank in respect thereof by a specified date, and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Victoria's Secret & Co.), Revolving Credit Agreement (Bath & Body Works, Inc.), Revolving Credit Agreement (Victoria's Secret & Co.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided, however, that a Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days (or such longer period as may be specified in such Letter of Credit) prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 6 contracts

Samples: Credit Agreement (Vanguard Natural Resources, LLC), Credit Agreement (Pyramid Oil Co), Credit Agreement (Pyramid Delaware Merger Subsidiary, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity DateDate with respect to the Revolving Loans; provided that any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall not in any event extend beyond the date that is five Business Days prior to the Maturity Date with respect to the Revolving Loans) under customary “evergreen” provisions.

Appears in 5 contracts

Samples: Credit Agreement (Pilgrims Pride Corp), Credit Agreement (Pilgrims Pride Corp), Credit Agreement (Pilgrims Pride Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Revolving Maturity Date; provided, however, that any Letter of Credit, including any Viacom LC, may provide for automatic renewal on an annual basis substantially in accordance with the provisions of Exhibit C hereof, so long as any such Letter of Credit expires at or prior to the date that is five Business Days prior to the Revolving Maturity Date.

Appears in 3 contracts

Samples: Credit Agreement (Blockbuster Inc), Credit Agreement (Blockbuster Inc), Credit Agreement (Blockbuster Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(A) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Revolving Loan Maturity Date, as applicable, unless such Letter of Credit (i) expires by its terms on an earlier date or (ii) has a one-year tenor and provides for the renewal thereof for additional one-year periods, so long as such periods referred to in this clause (ii) shall not in any event expire at a date later than the date that is five Business Days prior to the Revolving Loan Maturity Date.

Appears in 3 contracts

Samples: Credit Agreement (On Command Corp), Credit Agreement (Ascent Entertainment Group Inc), Credit Agreement (On Command Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank ); provided that issued such a Letter of Credit and may be subject to customary “evergreen” provisions pursuant to which the Borrower expiration date thereof shall be automatically extended for a period of up to one year (but in no event shall such date be later than as provided in subject to clause (ii) of this clause (c)sentence) unless notice to the contrary shall have been given by any Issuing Bank in respect thereof by a specified date, and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 3 contracts

Samples: Credit Agreement (Limited Brands Inc), Credit Agreement (Limited Brands Inc), Assignment and Assumption (Limited Brands Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank ); provided that issued such a Letter of Credit and may be subject to customary "evergreen" provisions pursuant to which the Borrower expiration date thereof shall be automatically extended for a period of up to one year (but in no event shall such date be later than as provided in subject to clause (ii) of this clause (c)sentence) unless notice to the contrary shall have been given by any Issuing Bank in respect thereof by a specified date, and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 3 contracts

Samples: Credit Agreement (L Brands, Inc.), Under the Credit Agreement (L Brands, Inc.), Restatement Agreement (L Brands, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided that at the request of the Borrower any Letter of Credit may contain customary “evergreen” provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Maturity Date) for successive one-year periods.

Appears in 2 contracts

Samples: Credit Agreement (Amerisourcebergen Corp), Credit Agreement (Amerisourcebergen Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (other than any Existing Letter of Credit having a later expiration date), or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) extension and (ii) (A) with respect to any Revolving Letter of Credit, the date that is five Business Days prior to the Revolving Maturity Date and (B) with respect to any Tranche A Letter of Credit, the date that is five Business Days prior to the Tranche A Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (Allied Waste Industries Inc), Credit Agreement (Allied Waste Industries Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank ); provided that issued such a Letter of Credit and may be subject to customary “evergreen” provisions pursuant to which the Borrower expiration date thereof shall be automatically extended for a period of up to one year (but in no event shall such date be later than as provided in subject to clause (ii) of this clause (c)sentence) unless notice to the contrary shall have been given by the Issuing Bank in respect thereof by a specified date, and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (Limited Brands Inc), Credit Agreement (Limited Brands Inc)

Expiration Date. Each Letter of Credit shall expire (or be subject to termination by notice from the Issuing Bank thereof to the beneficiary thereof) at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank provided that issued such any Letter of Credit and with a one year term may provide for the Borrower (but in no event shall such renewal thereof for additional one year periods not to extend past the date be later than as provided in clause (ii) of this clause (c)below) and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (Acxiom Holdings, Inc.), Credit Agreement (Acxiom Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date, provided that each Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 2 contracts

Samples: Security Agreement (Hechinger Co), Intercreditor Agreement (Hechinger Co)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five (5) Business Days prior to the Maturity Date. Any Letter of Credit with a one-year tenor may provide for the automatic renewal thereof for additional one-year periods so long as the final expiry date of such Letter of Credit occurs on or prior to the date that is five (5) Business Days prior to the Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (G&k Services Inc), Credit Agreement (G&k Services Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided that at the request of the Company any Letter of Credit may contain customary “evergreen” provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Maturity Date) for successive one-year periods.

Appears in 2 contracts

Samples: Credit Agreement (Pall Corp), Credit Agreement (Pall Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or and (Bii) such other the date mutually agreed that is five (5) Business Days prior to the Maturity Date, provided, however, that a Letter of Credit may, upon by the Issuing Bank that issued request of the Company, include a provision whereby such Letter of Credit and the Borrower shall be renewed automatically for additional consecutive periods of one year or less (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 1 contract

Samples: Pledge Agreement (Bruker Biosciences Corp)

Expiration Date. Each Letter of Credit shall expire (or be subject to termination by notice from the Issuing Bank to the beneficiary thereof) at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank provided that issued such any Letter of Credit and with a one year term may provide for the Borrower (but in no event shall such renewal thereof for additional one year periods not to extend past the date be later than as provided in clause (ii) of this clause (c)) below and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Acxiom Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on have a stated expiration date no later than the earlier of (i)(AA) the date that is one year twelve months (or such later date as may be agreed by the Administrative Agent and the applicable L/C Issuer) after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension of the expiration date thereof, one year whether automatic or by amendment, twelve months (or such later date as may be agreed by the Administrative Agent and the applicable L/C Issuer) after the then-current expiration date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)Credit) and (iiB) the date that is five Business Days prior to the Maturity Date, except to the extent cash collateralized or backstopped pursuant to arrangements reasonably acceptable to the applicable L/C Issuer.

Appears in 1 contract

Samples: Security Agreement (Ciena Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Revolving Maturity Date; provided that any Letter of Credit may contain customary “evergreen” provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Revolving Maturity Date) for successive one-year periods.

Appears in 1 contract

Samples: Credit Agreement (Investools Inc)

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Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date.Date with respect to the Revolving Loans; provided that any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall not in any event extend beyond the date that is five Business Days prior to the Maturity Date with respect to the Revolving Loans) under customary “evergreen” provisions. (d)

Appears in 1 contract

Samples: Credit Agreement (Pilgrims Pride Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided that at the request of a Borrower any Letter of Credit may contain customary “evergreen” provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Maturity Date) for successive one-year periods.

Appears in 1 contract

Samples: Five Year Credit Agreement (Laureate Education, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) extension and (ii) the date that is five Business Days prior to the Maturity Date, unless such Letter of Credit expires by its terms on an earlier date. Each Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 1 contract

Samples: Credit Agreement (Shiloh Industries Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank ); provided that issued such a Letter of Credit and may be subject to customary “evergreen” provisions pursuant to which the Borrower expiration date thereof shall be automatically extended for a period of up to one year (but in no event shall such date be later than as provided in subject to clause (ii) of this clause (c)sentence) unless notice to the contrary shall have been given by any Issuing Bank in respect thereof by a specified date, and (ii) the date that is five Business Days prior to the Class A Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Limited Brands Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) unless consented to by the Issuing Bank, the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank provided that issued such any Letter of Credit and with a one-year term may provide for the Borrower (but in no event shall such automatic renewal thereof for additional one-year periods not to extend past the date be later than as provided in clause (ii) of this clause (c)below unless the Borrower shall have made arrangements reasonably satisfactory to the applicable Issuing Bank) and (ii) the date that is five Business Days prior to the Revolving Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Darling International Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year twelve months after the date of such renewal or extension) ; provided that no such renewal or (B) such other extension shall extend past the date mutually agreed upon by set forth in the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in following clause (ii) and any Letter of this Credit that is otherwise automatically renewable must expressly state on its face that it is not automatically renewable beyond the date set forth in the following clause (cii)) and (ii) the date that is five Business Days prior to the Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (Berry Petroleum Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date., provided that each Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed. (d)

Appears in 1 contract

Samples: Credit Agreement (Hechinger Co)

Expiration Date. Each Letter of Credit shall expire (or be subject to termination by notice from the applicable Issuing Bank to the beneficiary thereof) at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension of the expiration date thereof, one year after such extension), provided that, subject to the date of such renewal or extension) or following clause (B) such other date mutually agreed upon by the Issuing Bank that issued such ii), any Letter of Credit and may contain customary “evergreen” provisions pursuant to which the Borrower (but in no event shall such expiry date be later than as provided in clause (ii) of this clause (c)) is automatically extended for a specific time period and (ii) the date that is five (5) Business Days prior to the Maturity Date.

Appears in 1 contract

Samples: Credit Agreement (W.W. Grainger, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided that at the request of the Borrower any Letter of Credit may contain customary "evergreen" provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Maturity Date) for successive one- year periods.

Appears in 1 contract

Samples: Second Amendment and Restatement Agreement (Sherwin Williams Co)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on at the earlier principal office of (i)(A) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) on the date that is five Business Days prior to the Maturity Date. However, if at the time of issuance there shall be an impending "Expiration Date" (as defined in the Receivables Purchase Agreement) arising from an event contemplated under clause (iii) of such definition, which "Expiration Date" is sooner than the Maturity Date, then any Letter of Credit issued (under such circumstances) shall expire on the date that is five Business Days prior to such "Expiration Date."

Appears in 1 contract

Samples: Credit Agreement (Volt Information Sciences Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date, unless such Letter of Credit expires by its terms on an earlier date; provided, however, that a Letter of Credit may, upon the request of the Administrative Borrower and subject to the Issuing Bank’s consent, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Maxxam Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date, unless such Letter of Credit expires by its terms on an earlier date; provided, however, that a Letter of Credit may, upon the request of the Administrative Borrower and subject to the Issuing Bank's consent, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that is five Business Days prior to the Maturity Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed.

Appears in 1 contract

Samples: Revolving Credit Agreement (Maxxam Inc)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)(Ai) the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after the date of such renewal or extension) or (B) such other date mutually agreed upon by the Issuing Bank that issued such Letter of Credit and the Borrower (but in no event shall such date be later than as provided in clause (ii) of this clause (c)) and (ii) the date that is five Business Days prior to the Maturity Date; provided that at the request of the Borrower any Letter of Credit may contain customary "evergreen" provisions pursuant to which such Letter of Credit will, in the absence of a notice given by the Issuing Bank, be automatically renewed (but in no event beyond the date that is five Business Days prior to the Maturity Date) for successive one-year periods.

Appears in 1 contract

Samples: Guaranty Agreement (Pall Corp)

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