LOC. The Member Association has established, or will establish, the LOC with the purpose of becoming the local organising committee responsible for hosting and staging the Competitions.
LOC. The unconditional and irrevocable letter of credit from GreenPoint --- Bank to the Trustee for the benefit of the Class A Certificateholders and the Insurer, in the form attached as an Exhibit L hereto. LOC Default: The failure by the LOC Provider to make a required payment ----------- under the LOC in accordance with its terms. LOC Provider: GreenPoint Bank. ------------
LOC. Comply with, effect a cure under and/or prevent a failure or default under the LOC;
LOC. If an event of default shall occur under the LOC Documents which is not cured to the satisfaction of the LOC Lender and/or the LOC is accelerated, terminated or cancelled or the obligation of the LOC Lender to advance the LOC proceeds is terminated or rescinded; or
LOC. The unconditional and irrevocable letter of credit from GreenPoint --- Bank to the Trustee for the benefit of the Class A, Class M and Class B Certificateholders, in the form attached as an exhibit to the GreenPoint LOC Agreement or the unconditional and irrevocable letter of credit from First Union to the Trustee for the benefit of the Class A and Class M Certificateholders, in the form attached as an exhibit to the First Union LOC Agreement, as applicable.
LOC. Any LOC Lender shall, if required by Lender, enter into an Intercreditor Agreement with Lender providing for the respective rights of the LOC Lender(s) and Lender as to their respective collateral, all in form and substance satisfactory to Lender. Upon the written request of Lender, Borrower shall provide Lender with copies of all LOC Lender loan documents which shall include the recording information of all such documents which are recorded. A default under any LOC shall be a default hereunder. Notwithstanding the foregoing or any provision in this Agreement, there shall be no LOC permitted while Note D and Loan D, as defined in the Security Instrument, are not paid in full without any obligation of Lender to make further advances thereunder.
LOC. Any LOC Lender shall, if required by Lender, enter into an Intercreditor Agreement with Lender providing for the respective rights of the LOC Lender(s) and Lender as to their respective collateral, all in form and substance satisfactory to Lender. Upon the written request of Lender, Borrower shall provide Lender with copies of all LOC Lender loan documents which shall include the recording information of all such documents which are recorded. A default under any LOC shall be a default hereunder. ARTICLEV
LOC. Buyer shall either retain the Closing Date holdback, or the Future Claims LOC shall remain in effect for the benefit of Buyer, through the completion in 2008 of the annual procedure described below; provided, however, that if Xxxx Xxxxxxx desires that any Future Claims LOC have a one-year term, Buyer shall be entitled to draw the full amount under the Future Claims LOC if a replacement letter of credit with identical terms is not delivered to Buyer prior to each one-year expiration.”
LOC. While any portion of the Loan remains unpaid and outstanding there shall be no LOC other than the Rabo Revolving Line-of Credit-Loan subject to the Rabo Intercreditor Agreement. Other than the Silver Nip Rabo Subsidiary Guaranty, Borrower shall incur no obligation under the Rabo Revolving Line-of-Credit Loan without Lender's advance written consent. Without limiting the foregoing, Borrower will not execute any security instruments under the Rabo Revolving Line-of-Credit except (i) the Rabo Security Agreement and any documents executed in connection with or required by the Rabo Security Agreement and (ii) those documents that secure only the obligations under the Silver Nip Rabo Subsidiary Guaranty. Borrower will provide Lender a true and complete copy of each such security instrument before the Third Amendment Effective Date if executed before said date, and promptly after execution if executed after such date. A default under the Rabo Revolving Line of-Credit Loan, the effect of which is to cause, with the giving of notice, if required, amounts outstanding under the Rabo Revolving Line-of-Credit to become due prior to their stated maturity, or any payment made by Borrower under the Silver Nip Rabo Subsidiary Guaranty shall be a default hereunder. Any modification of the Rabo Revolving Line-of-Credit that limits Alico's ability to extend credit to the Silver Nip Entities under the written agreement between Silver Nip and Alico pursuant to Section 4.8 hereof or any modification of the Silver Nip Rabo Subsidiary Guaranty without Lender's advance written consent shall be a default herein.
LOC. The Borrower and the LOC Lender shall have executed and delivered the LOC Documents and the LOC Lender shall be obligated to disburse the LOC proceeds in accordance with the LOC Documents and the LOC Lender and Lender shall have executed and delivered the Intercreditor Agreement.
