All Advances and Letters of Credit Sample Clauses

All Advances and Letters of Credit. In the case of each Advance to be made or letter of credit to be issued hereunder or renewals (including extensions) of Letters of Credit (except the initial Advance made hereunder): 5.1.1. timely receipt by the Lender of a Notice of Borrowing and, if applicable, a Letter of Credit Application and other items required to be included therewith; 5.1.2. the fact that, immediately before such requested Advance or letter of credit or requested renewal (including extensions) of a Letter of Credit, no Default shall have occurred and be continuing and that the making of any such Advance, the issuing of such letter of credit or the renewal (including extensions) of such Letter of Credit will not cause a Default; 5.1.3. the fact that the representations and warranties of the Borrower contained in this Agreement shall be true in all material respects on and as of the date of such Advance, except to the extent that any such representation specifically makes reference to an earlier date, then such representation will be as of such earlier date; 5.1.4. the fact that the Borrower shall have received all authorizations necessary under its Regulatory Documents to permit it to incur indebtedness in an aggregate amount equal to the sum of the requested Advance reflected in the Notice of Borrowing plus the outstanding principal balance of the Note plus the Letter of Credit Exposure, and the Lender shall have received evidence satisfactory to the Lender of such authorizations; 5.1.5. each request for an Advance, for a letter of credit to be issued hereunder or for the renewal (including extensions) of a Letter of Credit shall be deemed to be a representation and warranty by the Borrower on the date of such request, as to the facts specified in Sections 5.1.2 and 5.1.3; and 5.1.6. the fact that each condition specified in Section 5.2 was satisfied at the time of the initial Advance hereunder or has been satisfied subsequent thereto or has been waived in writing by the Lender.
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All Advances and Letters of Credit. The Lender shall not be required to make any Advances, including the initial Advance, or issue any Letter of Credit, until compliance to the satisfaction of the Lender with all of the following conditions at the time of and with respect to each Advance or Letter of Credit:
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All Advances and Letters of Credit. No Advances, including the initial Advance, shall be made, and no Letter of Credit shall be issued, until compliance to the satisfaction of the Lender with all of the following conditions at the time of and with respect to each Advance or Letter of Credit:
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All Advances and Letters of Credit. Unless waived in writing by the Lender, the obligation of the Lender to make any Advance (including the initial Advance) and the Lender to issue, amend, or renew any Letter of Credit (including any initial Letter of Credit) is subject to the following additional conditions precedent: (a) Advance Request Form/Letter of Credit Request Form. Unless waived in writing by the Lender, the Lender shall have received, in connection with any requested Advance in accordance with Section 2.6, an Advance Request Form, dated the date of such Advance, executed by an authorized officer of the Borrowers, and the Lender shall have received, in connection with any requested Letter of Credit, a Letter of Credit Request Form, in accordance with Section 2.12, executed by an authorized officer of the Borrowers;
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All Advances and Letters of Credit. The obligation of each Bank to make any Advance (including the initial Advance) and the Issuing Bank to issue any Letter of Credit (including any initial Letter of Credit) is subject to the following additional conditions precedent: (a) ADVANCE REQUEST FORM/LETTER OF CREDIT REQUEST FORM. The Agent shall have received, in connection with any requested Advance in accordance with Section 2.5, an Advance Request Form, dated the date of such Advance, and, in connection with any requested Letter of Credit, the Issuing Bank and the Agent shall have received a Letter of Credit Request Form, as required under Section 2.11 hereof, in each case executed by an authorized officer of the Borrower;
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All Advances and Letters of Credit. In no event shall any Lender ---------------------------------- be required to make any Advances in excess of such Lender's Loan Percentage of the amount required to be advanced by the Lenders under the above provisions of this Section 2.1 or which would cause any Lender to have made ----------- Advances in excess of such Lender's Loan Commitment Amount. On any date of determination and after the issuance of any Advance or Letter of Credit, (i) the aggregate outstanding balances of the Working Capital Advances plus ---- the Draft Advance Exposure plus the Letter of Credit Exposure shall never ---- exceed the Available Commitment and (ii) the aggregate outstanding balance of the Working Capital Advances plus the Letter of Credit Exposure shall ---- never exceed the then effective Borrowing Base.
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All Advances and Letters of Credit. The obligation of each Bank to make any Advance (including the initial Advance under this Agreement) or issue any Letter of Credit (including the initial Letter of Credit under this Agreement) is subject to the following additional conditions precedent: (a) Credit Request Form. Agent shall have received, in accordance with Section 2.5 or 2.10, as applicable, a Credit Request Form, dated the date of such Advance THIRD AMENDED AND RESTATED LOAN AGREEMENT, Page 34 34 or the date of the issuance of such Letter of Credit, executed by an authorized officer of Parent, all of the statements in which shall be true and correct on and as of such date whether or not such Credit Request Form is actually delivered; and
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All Advances and Letters of Credit. In the case of each Advance to be made or letter of credit to be issued hereunder or renewals and extensions of Letters of Credit (except the initial Advance made hereunder): 5.1.1. timely receipt by the Lender of a Notice of Borrowing and, if applicable, a Letter of Credit Application; 5.1.2. the fact that, immediately before such requested Advance or Letter of Credit, no Default shall have occurred and be continuing and that the making of any such Advance will not cause a Default; 5.1.3. the fact that the representations and warranties of the Borrowers contained in this Agreement (except the representations set forth in Sections 6.7 and 6.10.1) shall be true on and as of the date of such Advance; 5.1.4. each request for an Advance hereunder shall be deemed to be a representation and warranty by the Borrower on the date of such request, as to the facts specified in Sections 5.1.2 and 5.1.3; and 5.1.5. the fact that each condition specified in Section 5.2 has been satisfied or waived in writing by the Lender.
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Related to All Advances and Letters of Credit

  • Loans and Letters of Credit On the Closing Date:

  • Use of Loans and Letters of Credit The proceeds of the Loans and the Letters of Credit shall be used for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

  • CONDITIONS TO LOANS AND LETTERS OF CREDIT The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions.

  • First Loans and Letters of Credit On the Closing Date:

  • Conditions to All Loans and Letters of Credit The obligations of the Lenders to make any Loan or issue any Letter of Credit is subject to the satisfaction of the following conditions precedent on the relevant borrowing or issue date, as applicable:

  • The Letters of Credit Each Issuing Bank severally agrees, on the terms and conditions hereinafter set forth, to issue (or cause its Affiliate that is a commercial bank to issue on its behalf) letters of credit (together with the Existing Letters of Credit referred to in Section 2.03(f), the “Letters of Credit”) in U.S. dollars for the account of the Borrower (but in connection with the business of the Borrower or any of its Subsidiaries) from time to time on any Business Day during the period from the Effective Date until 30 days before the Termination Date in an aggregate Available Amount (i) for all Letters of Credit not to exceed at any time the Letter of Credit Facility at such time and (ii) for all Letters of Credit issued by such Issuing Bank not to exceed at any time such Issuing Bank’s Letter of Credit Commitment at such time and (iii) for each such Letter of Credit not to exceed the Unused Revolving Credit Commitments of the Lenders at such time. No Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the earlier of 30 days before the Termination Date and (A) in the case of a Standby Letter of Credit, one year after the date of issuance thereof, but may by its terms be renewable annually upon notice (a “Notice of Renewal”) given to the Issuing Bank that issued such Standby Letter of Credit and the Paying Agent on or prior to any date for notice of renewal set forth in such Letter of Credit but in any event at least three Business Days prior to the date of the proposed renewal of such Standby Letter of Credit and upon fulfillment of the applicable conditions set forth in Article III unless such Issuing Bank has notified the Borrower (with a copy to the Paying Agent) on or prior to the date for notice of termination set forth in such Letter of Credit but in any event at least 45 Business Days prior to the date of automatic renewal of its election not to renew such Standby Letter of Credit (a “Notice of Termination”) and (B) in the case of a Trade Letter of Credit, 30 days after the date of issuance thereof; provided that the terms of each Standby Letter of Credit that is automatically renewable annually shall (x) require the Issuing Bank that issued such Standby Letter of Credit to give the beneficiary named in such Standby Letter of Credit notice of any Notice of Termination, (y) permit such beneficiary, upon receipt of such notice, to draw under such Standby Letter of Credit prior to the date such Standby Letter of Credit otherwise would have been automatically renewed and (z) not permit the expiration date (after giving effect to any renewal) of such Standby Letter of Credit in any event to be extended to a date later than 30 days before the Termination Date. If either a Notice of Renewal is not given by the Borrower or a Notice of Termination is given by the relevant Issuing Bank pursuant to the immediately preceding sentence, such Standby Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed; provided, however, that even in the absence of receipt of a Notice of Renewal the relevant Issuing Bank may in its discretion, unless instructed to the contrary by the Paying Agent or the Borrower, deem that a Notice of Renewal had been timely delivered and in such case, a Notice of Renewal shall be deemed to have been so delivered for all purposes under this Agreement. Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(c), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(c).

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • New Swing Line Loans/Letters of Credit Notwithstanding anything in this Agreement to the contrary, so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Existing Letters of Credit On and after the Closing Date, the Existing Letters of Credit shall be deemed for all purposes, including for purposes of the fees to be collected pursuant to Sections 3.3(a) and (b), reimbursement of costs and expenses to the extent provided herein and for purposes of being secured by the Collateral, a Letter of Credit outstanding under this Agreement and entitled to the benefits of this Agreement and the other Loan Documents, and shall be governed by the applications and agreements pertaining thereto and by this Agreement (which shall control in the event of a conflict).

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