Common use of L/C Commitment Clause in Contracts

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x) the L/C Obligations would exceed the Revolving Credit Commitment or (y) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding would be less than zero.

Appears in 4 contracts

Samples: Credit Agreement (Southern California Microwave Inc), Credit Agreement (L 3 Communications Corp), Credit Agreement (L 3 Communications Corp)

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L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding would be less than zero.

Appears in 4 contracts

Samples: Credit Agreement (L 3 Communications Holdings Inc), Credit Agreement (L 3 Communications Holdings Inc), Credit Agreement (Southern California Microwave Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit Commitment L/C Commitment, (ii) the Foreign L/C Obligations would exceed the Foreign L/C Sublimit or (yiii) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding would be less than zero.

Appears in 3 contracts

Samples: Credit Agreement (L 3 Communications Holdings Inc), Credit Agreement (L 3 Communications Holdings Inc), Credit Agreement (Southern California Microwave Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the each Issuing LenderBank, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower Company on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the such Issuing LenderBank; provided that the neither Issuing Lender Bank shall have no any obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the aggregate Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding Commitments would be less than zero.

Appears in 2 contracts

Samples: Execution (Gentek Inc), Credit Agreement (Gentek Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Revolving Credit Lenders set forth in subsection 3.4(aSection 5.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided provided, that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x1) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (y2) the aggregate Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding RC Commitments would be less than zero.

Appears in 2 contracts

Samples: Credit Agreement (Technical Olympic Usa Inc), Credit Agreement (Engle Homes Inc /Fl)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit other Facility B Lenders set forth in subsection 3.4(a)Section 0, agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Facility B Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the Available Facility B Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding any Facility B Lender would be less than zero.

Appears in 1 contract

Samples: Credit Agreement (Kimco Realty Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection 3.4(aSection 5.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x1) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (y2) the aggregate Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding RC Commitments would be less than zero.

Appears in 1 contract

Samples: Credit Agreement (Unidigital Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding Available Revolving Credit Commitments would be less than zero.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Grand Union Co /De/)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing LenderBank, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection 3.4(a), ) agrees to issue letters of credit ("Letters of CreditLETTERS OF CREDIT") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing LenderBank; provided PROVIDED that the Issuing Lender Bank shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x1) the L/C Obligations would exceed the Revolving Credit Commitment or L/C Commitment, (y2) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding Commitments would be less than zerozero or (3) the Aggregate Covered Outstanding Revolving Extensions of Credit at such time would exceed the Borrowing Base at such time.

Appears in 1 contract

Samples: Credit Agreement (Core Mark International Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the each Issuing LenderBank, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the such Issuing LenderBank; provided that the neither Issuing Lender Bank shall have no any obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the aggregate Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding Commitments would be less than zero.

Appears in 1 contract

Samples: Credit Agreement (General Chemical Group Inc)

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L/C Commitment. (a) Subject to the terms and conditions -------------- hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during ----------------- the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding ---- would be less than zero.

Appears in 1 contract

Samples: Credit Agreement (P&l Coal Holdings Corp)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing LenderBank, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection 3.4(a), ) agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing LenderBank; provided PROVIDED that the Issuing Lender Bank shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x1) the L/C Obligations would exceed the Revolving Credit Commitment or L/C Commitment, (y2) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding Commitments would be less than zerozero or (3) the Aggregate Covered Outstanding Revolving Extensions of Credit at such time would exceed the Borrowing Base at such time.

Appears in 1 contract

Samples: Credit Agreement (Core Mark International Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection 3.4(a), agrees to issue standby letters of credit ("Letters of CreditLETTERS OF CREDIT") for the account of the any Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the L/C Sublimit (ii) the Available Revolving Credit Commitment or (y) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding would be less than zerozero or (iii) a Borrowing Base Deficiency would exist.

Appears in 1 contract

Samples: Credit Agreement (Cole National Group Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection Section 3.4(a), agrees to issue standby letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during from the Closing Date through but not including the Revolving Credit Commitment Period Termination Date in such form as may be approved from time to time by the Issuing Lender; provided provided, that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xa) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yb) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Revolving Credit Loans and L/C Obligations then outstanding would be less than zeroexceed the Revolving Credit Commitment of all Lenders.

Appears in 1 contract

Samples: Credit Agreement (Kinder Morgan Bulk Terminals Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing LenderBank, in reliance on the agreements of the Revolving Credit other Lenders set forth in subsection 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the ----------------- Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing LenderBank; provided that the Issuing Lender Bank -------- shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the Revolving Credit L/C Commitment or (yii) the Available Commitment with respect to Revolving Credit Loans of all Revolving Credit Lenders less the aggregate principal amount of the Swing Line Loans then outstanding any Lender would be less than zero.

Appears in 1 contract

Samples: Credit Agreement (Conectiv Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, the Issuing LenderBank, in reliance on the agreements of the other Revolving Credit Lenders set forth in subsection 3.4(aSection 2.7(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower Company on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; Bank, provided that the Issuing Lender Bank shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (xi) the L/C Obligations would exceed the L/C Sublimit or (ii) the Aggregate Outstanding Revolving Credit Commitment or (y) the Available Commitment with respect to Revolving Credit Loans of all the Revolving Credit Lenders less at such time would exceed the aggregate principal amount of the Swing Line Loans then outstanding would be less than zeroRevolving Credit Commitments at such time.

Appears in 1 contract

Samples: Credit Agreement (Juno Lighting Inc)

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