Common use of L/C Commitment Clause in Contracts

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three Business Days prior to the Revolving Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 7 contracts

Samples: Guarantee and Collateral Agreement (Booz Allen Hamilton Holding Corp), Credit Agreement (Booz Allen Hamilton Holding Corp), Guarantee and Collateral Agreement (Booz Allen Hamilton Holding Corp)

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L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the a Revolving Commitment Period in such form as may be approved from time to time by such Issuing LenderLender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the then latest Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).. Each Existing Letter of Credit shall be deemed to be issued pursuant to this Section 3.1(a)

Appears in 6 contracts

Samples: Credit Agreement (Cco Holdings LLC), Credit Agreement (Cco Holdings LLC), Restatement Agreement (Charter Communications, Inc. /Mo/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other USD Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the any Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations (including the Dollar Equivalent of the L/C Obligations denominated in Optional Currencies) would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments in respect of the USD Revolving Credit Facility would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars or an Optional Currency and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 5 contracts

Samples: Credit Agreement (CONMED Corp), Credit Agreement (CONMED Corp), Credit Agreement (Conmed Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the a Revolving Commitment Period in such form as may be approved from time to time by such Issuing LenderLender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars Dollars, (ii) unless otherwise agreed by the Administrative Agent and the relevant Issuing Lender, have a face amount of at least $5,000 and (iiiii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the then latest Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Existing Letter of Credit shall be deemed to be issued pursuant to this Section 3.1(a) on the Restatement Effective Date.

Appears in 4 contracts

Samples: Credit Agreement (Charter Communications, Inc. /Mo/), Credit Agreement (Charter Communications, Inc. /Mo/), Credit Agreement (Charter Communications, Inc. /Mo/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or or, provided that the Borrower is a co-obligor, any Guarantor on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three Business Days prior to the Revolving Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 3 contracts

Samples: Credit Agreement (Allison Transmission Holdings Inc), And Collateral Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc)

L/C Commitment. (a) Subject After the Syndication Date, subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”"LETTERS OF CREDIT") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided PROVIDED that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided PROVIDED that any Letter of Credit with a one-year 41 term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (Dardel Technologies E U R L), Credit Agreement (Axiohm Transaction Solutions Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower, or for the joint and several account of the Borrower or and any Guarantor Subsidiary, on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (UCI Holdco, Inc.), Credit Agreement (Chefford Master Manufacturing Co Inc)

L/C Commitment. (a) Subject to the terms and conditions -------------- hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during ----------------- the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; : provided that no the Issuing Lender shall have any no -------- obligation to issue any Letter of Credit if, if (i) after giving effect to such issuance, (iA) the L/C Obligations would exceed the L/C Commitment or (B) the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments or (ii) it has received notice from the aggregate amount Administrative Agent that the issuance of the Available Revolving Commitments would be less than zerosuch Letter of Credit will violate clause (i) above. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three 30 Business Days prior to the then scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may -------- provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the a Revolving Commitment Period in such form as may be approved from time to time by such Issuing LenderLender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars Dollars, (ii) unless otherwise agreed by the Administrative Agent and the relevant Issuing Lender, have a face amount of at least $5,000 and (iiiii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the then latest Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the -58- renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Existing Letter of Credit shall be deemed to be issued pursuant to this Section 3.1(a) on the Restatement Effective Date.

Appears in 1 contract

Samples: Credit Agreement (Charter Communications, Inc. /Mo/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each -------------- the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters ------- of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the --------- Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no -------- obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a -------- one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Details Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor of its Subsidiary Guarantors on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Standard Aero Holdings Inc.)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor Subsidiary on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; , provided that no the Issuing Lender shall not have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Omniamerica Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each US Issuing Lender, in reliance on the agreements of the other US Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("US Letters of Credit") under the Revolving Commitment for the account of the US Borrower or any US Subsidiary Guarantor on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any US Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US Revolving Commitments would be less than zero. Each US Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any US Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Cogent Management Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements agreement of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing LenderLender (which approval shall not be unreasonably withheld); provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance (in the case of Standby Letters of Credit) or 180 days after its date of issuance (in the case of Documentary Letters of Credit) and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Standby Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Guess Inc Et Al/Ca/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue standby letters of credit ("Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day on or after the Closing Date and during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided provided, that no Issuing Lender shall have any obligation to issue issue, amend, extend or renew any Letter of Credit if, after giving effect to such issuance, amendment, extension or renewal (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Pg&e Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the -------------- Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters -------------- ------- of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on --------- any Business Day during prior to the Revolving Commitment Period Credit Termination Date in such form as may be approved from time to time by such the Issuing Lender; provided that no the -------- Issuing Lender shall have any no obligation to issue any Letter of Credit if, if (i) after giving effect to such issuance, (iA) the L/C Obligations would exceed the L/C Commitment or (B) the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments or (ii) it has received notice from the aggregate amount Administrative Agent that the issuance of the Available Revolving Commitments would be less than zerosuch Letter of Credit will violate clause (i) above. Each Letter of Credit shall (i) be denominated in Dollars and ---------- (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three 30 Business Days prior to the then scheduled Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit -------- with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause ------ (y) above).. ---

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (( “Letters of Credit”) under the Revolving Commitment for the account of the Borrower (but for use by the Borrower or any Guarantor Subsidiary) on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year or shorter periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Magellan Midstream Partners Lp)

L/C Commitment. (a) Subject to the terms and conditions hereof, each -------------- the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters ------- of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the --------- Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no -------- obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term -------- may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Sba Communications Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the a Revolving Commitment Period in such form as may be approved from time to time by such Issuing LenderLender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the then latest Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Existing Letter of Credit shall be deemed to be issued pursuant to this Section 3.1(a) on the Restatement Effective Date.

Appears in 1 contract

Samples: Credit Agreement (Charter Communications, Inc. /Mo/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue or cause one of its Affiliates that is a commercial bank to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor Borrowers on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Amedisys Inc)

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L/C Commitment. (a) Subject to the terms and conditions hereof, each US Issuing Lender, in reliance on the agreements of the other US Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (the US Letters of Credit”) under the Revolving Commitment for the account of the US Borrower or any Guarantor on any Business Day during the US Revolving Credit Commitment Period in such form as may be approved from time to time by such US Issuing Lender; provided provided, that no US Issuing Lender shall have any obligation to issue any US Letter of Credit if, after giving effect to such issuance, (i) the US L/C Obligations would exceed the US L/C Commitment or (ii) the aggregate amount of the Available US Revolving Credit Commitments would be less than zero. Each US Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the US Revolving Credit Termination Date (unless cash collateralized or backstoppedDate; provided, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any US Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Vanguard Car Rental Group Inc.)

L/C Commitment. (a) Subject After the Syndication Date, subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”"LETTERS OF CREDIT") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided PROVIDED that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided PROVIDED that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Axiohm Transaction Solutions Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor of its Subsidiary Guarantors on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Empi Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each -------------- the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters ------- of Credit") under the Revolving Commitment for the account of the either Borrower or any Guarantor on any Business Day during the --------- Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no -------- obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a -------- one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Details Capital Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Letter of Credit shall be used for general corporate purposes of the Borrower and its Subsidiaries and other uses not prohibited by this Agreement.

Appears in 1 contract

Samples: First Lien Credit Agreement (Vertrue Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue or cause one of its Affiliates that is a commercial bank to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor Borrowers on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Maturity Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Amedisys Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters Trade Letters of credit Credit or Standby Letters of Credit (the “Letters of Credit”) under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may the Borrower shall request that shall be approved from time reasonably acceptable to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, if after giving effect to such issuance, (iA) the L/C Obligations would exceed the L/C Commitment or (iiB) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) (I) the first anniversary of its date of issuance issuance, in the case of Standby Letters of Credit or (II) One Hundred Eighty (180) calendar days from the date of its issuance, in the case of Trade Letters of Credit and (y) the date that is three Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the automatic renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (CSG Systems International Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the Borrower Company or any Guarantor Borrowing Subsidiary on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars or Euro, as the case may be, and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-periods of up to one year periods (which shall but in no event shall any such renewal extend beyond the date referred to in clause (y) above). The letters of credit identified on Schedule 3.1 (the “Existing Letters of Credit”) shall be deemed to be “Letters of Credit” issued on the Closing Date for all purposes of this Agreement and the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (First Solar, Inc.)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (the letters of credit issued on and after the Closing Date pursuant to this Section 3 collectively, the "Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be in form and substance reasonably acceptable to the Issuing Lender, (ii) be denominated in Dollars and (iiiii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Gallipolis Care LLC)

L/C Commitment. (aiv) Subject to the terms and conditions hereof, each Issuing the L/C Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4(a3.8(a), agrees to cause the Issuing Bank to issue letters of credit (“Letters of Credit”) under the Revolving Commitment for the account of the either Borrower or any Guarantor on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such the L/C Lender and the Issuing LenderBank; provided that no Issuing the L/C Lender shall have any no obligation to issue cause any Letter of Credit to be issued if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars Dollars, and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is three five Business Days prior to the Revolving Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (FGX International Holdings LTD)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (the letters of credit issued on and after the Effective Date pursuant to this Section 3, the "Letters of Credit") under the Revolving Commitment for the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided provided, that no Issuing Lender shall have any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Revolving Credit Termination Date (unless cash collateralized or backstopped, in each case in a manner agreed to by the Borrower and the Issuing Lender)Date; provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Cinemark Usa Inc /Tx)

L/C Commitment. (a) Subject to the terms and conditions hereof, each -------------- the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") under the Revolving Commitment for ----------------- the account of the Borrower or any Guarantor on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided that no the Issuing Lender shall have any no obligation to -------- issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Credit Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is three five Business Days prior to the Scheduled Revolving Credit Termination Date (unless cash collateralized or backstoppedDate, in each case in a manner agreed to by the Borrower and the Issuing Lender); provided that any Letter of Credit with a one-year term may provide for -------- the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Details Inc)

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