Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 days before the Termination Date, Borrower may request that the L/C Issuer, in its individual capacity, issue one or more L/Cs for the account of Borrower; provided, however, that no L/C shall be issued if, after giving effect to the issuance of such L/C and of any other L/Cs requested to be issued on the same Funding Date and to the making of any Committed Loans or Bid Rate Loans requested to be made on the same Funding Date, (A) the aggregate amount of all L/C Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Aggregate Commitments at such time, or (B) the aggregate amount of all L/C Outstandings would exceed the L/C Sublimit. Subject to the foregoing, Borrower may request the issuance of L/Cs under this subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) Each L/C shall expire by its terms not later than the L/C Expiration Date. No L/C may by its terms be automatically renewable, unless consented to in writing by each of Agent and the L/C Issuer in the exercise of its sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in Dollars.
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Samples: Credit Agreement (Midamerican Energy Holdings Co /New/)
Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 days before the Termination Date, Borrower may request that the an L/C Issuer, in its individual capacity, issue one or more standby L/Cs for the account of the Borrower; , provided, however, that no L/C shall be issued if, after giving effect to the issuance of such L/C and of any other L/Cs requested to be issued on the same Funding Date and to the making of any Committed Loans or Bid Rate Loans requested to be made on the same Funding Date, (Ax) the aggregate amount of all L/C Outstandings plus and the aggregate amount of all Committed Loans Revolving Credit Advances and Competitive Bid Rate Loans Advances then outstanding would exceed the Aggregate aggregate amount of the Revolving Credit Commitments of the Lenders at such time, time or (By) the aggregate amount of all L/C Outstandings then outstanding would exceed the L/C Sublimit. Subject to the foregoing, the Borrower may request the issuance of L/Cs C(s) under this subsection (iSection 2.03A(a)(i), repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (iSection 2.03A(a)(i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof.
(ii) Each L/C shall expire by its terms not later than the L/C Expiration Date. No Subject to the preceding sentence, each L/C shall expire on or before the first anniversary of the date of such issuance; provided that the expiry date of any L/C may by its terms be automatically renewable, unless consented extended from time to in writing by each of Agent and time for a period not exceeding one year (i) at the Borrower's request or (ii) if such L/C Issuer so provides, automatically, in each case so long as such extension is granted (or the exercise of its sole discretion, subject last day on which notice can be given to prevent such extension occurs) no earlier than three months before the foregoing restriction regarding expiration dates, and no then existing expiry date thereof. No L/C may be denominated or drawable other than in DollarsUnited States dollars.
Appears in 1 contract
Samples: Credit Agreement (Laboratory Corp of America Holdings)
Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 thirty (30) days before the Termination Date, Borrower may request that the L/C Issuer, in its individual capacity, issue one or more L/Cs for the account of Borrower; provided, however, that no L/C shall be issued if, after giving effect to the issuance of such L/C and of any other L/Cs requested to be issued on the same Funding Date and to the making of any Committed Loans or Bid Rate Loans requested to be made on the same Funding Date, (A) the aggregate amount of all L/C Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Aggregate Commitments at such time, time or (B) the aggregate amount of all L/C Outstandings would exceed the L/C Sublimit. Subject to the foregoing, Borrower may request the issuance of L/Cs under this subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (i). For all purposes of this Agreement, reference to the "“issue" ” or "“issuance" ” of any L/C or any L/C being "“issued" ” shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof.
(ii) Each L/C shall expire by its terms not later than the L/C Expiration Date. No Any L/C may by its terms be automatically renewablerenewable for a period not to exceed 365 days; provided, unless consented to in writing by each of Agent and the that any such L/C Issuer shall also expressly provide that its final expiry date shall in any event occur not later than the exercise of its sole discretion, subject to the foregoing restriction regarding expiration datesTermination Date, and no such L/C shall not be extended beyond such date. No L/C may be denominated or drawable other than in Dollars.
(iii) On and after the Closing Date, the L/Cs set forth on Schedule III shall be deemed to have been issued by the L/C Issuer under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Midamerican Energy Holdings Co /New/)
Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 thirty (30) days before the Termination Date, Borrower may request that the L/C Issuer, in its individual capacity, issue one or more L/Cs for the account of Borrower; provided, however, that no L/C shall be issued if, after giving effect to the issuance of such L/C and of any other L/Cs requested to be issued on the same Funding Date and to the making of any Committed Loans or Bid Rate Loans requested to be made on the same Funding Date, (A) the aggregate amount of all L/C Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Aggregate Commitments at such time, or (B) the aggregate amount of all L/C Outstandings would exceed the L/C SublimitSublimit or (C) if the Termination Date shall have been extended pursuant to Section 2.12, the aggregate amount of all L/C Outstandings would exceed the Aggregate Commitments scheduled to be in effect on the latest Termination Date. Subject to the foregoing, Borrower may request the issuance of L/Cs under this subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (i). For all purposes of this Agreement, reference to the "“issue" ” or "“issuance" ” of any L/C or any L/C being "“issued" ” shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof.
(ii) Each L/C shall expire by its terms not later than the L/C Expiration Date. No Any L/C may by its terms be automatically renewablerenewable for a period not to exceed 365 days; provided, unless consented to in writing by each of Agent and the that any such L/C Issuer shall also expressly provide that its final expiry date shall in any event occur not later than the exercise of its sole discretion, subject to the foregoing restriction regarding expiration datesTermination Date, and no such L/C shall not be extended beyond such date. No L/C may be denominated or drawable other than in Dollars.
(iii) On and after the Closing Date, the L/Cs set forth on Schedule III shall be deemed to have been issued by the L/C Issuer under this Agreement.
Appears in 1 contract
Samples: Credit Agreement (Midamerican Energy Holdings Co /New/)
Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 days before the Termination Date, Borrower may request that the L/C Issuer, NatWest Plc in its individual capacity, capacity (in the case of Standby L/Cs) or NatWest Canada in its individual capacity (in the case of Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and NatWest Canada is herein referred to as "THE ISSUING BANK" and collectively as "THE ISSUING BANKS") for the account of the Borrower; provided, howeverPROVIDED, HOWEVER, that no L/C shall be issued if, after giving effect to the issuance of such L/C and (i) the aggregate amount of any other all Net L/Cs requested to be issued on C Obligations and the same Funding Date and to aggregate amount of all Loans then outstanding would exceed the making of any Committed Loans Total Commitment at such time, or Bid Rate Loans requested to be made on the same Funding Date, (Aii) the aggregate amount of all L/C Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans Obligations then outstanding would exceed the Aggregate Commitments at such time, or (B) the aggregate amount of all Maximum L/C Outstandings would exceed the L/C SublimitAmount. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this subsection (i)Section 2.16, repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (i)Section 2.16. For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof.
(ii) Each No L/C shall expire by its terms not have an expiration date later than the L/C Expiration earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Commitment Termination Date. No L/C may by its terms be automatically renewable, unless consented to in writing by each of the Agent and the L/C Issuer Issuing Bank in the exercise of its their sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in DollarsUnited States dollars.
Appears in 1 contract
Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 days before the Termination Date, Borrower may request that the L/C Issuer, NatWest Plc in its individual capacitycapacity (in the case of Standby L/Cs) or BankBoston, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower; provided, howeverPROVIDED, HOWEVER, that no L/C shall be issued if, after giving effect to the issuance of such L/C and (i) the aggregate amount of any other all Net L/Cs requested to be issued on C Obligations and the same Funding Date and to aggregate amount of all Revolving Loans then outstanding would exceed the making of any Committed Loans Aggregate Revolving Commitment at such time, or Bid Rate Loans requested to be made on the same Funding Date, (Aii) the aggregate amount of all L/C Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans Obligations then outstanding would exceed the Aggregate Commitments at such time, or (B) the aggregate amount of all Maximum L/C Outstandings would exceed the L/C SublimitAmount. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this subsection (i)Section 2.23, repay any drawings thereunder and request the issuance of additional L/Cs under this subsection (i)Section 2.23. For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof.
(ii) Each No L/C shall expire by its terms not have an expiration date later than the L/C Expiration earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Termination Date. No L/C may by its terms be automatically renewable, unless consented to in writing by each of the Administrative Agent and the L/C Issuer Issuing Bank in the exercise of its their sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in Dollars.
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