Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Priority Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 6 contracts
Samples: Abl Guarantee and Collateral Agreement, Abl u.s. Guarantee and Collateral Agreement (Nci Building Systems Inc), Abl Guarantee and Collateral Agreement (Nci Building Systems Inc)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Priority Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 6 contracts
Samples: First Lien Guarantee and Collateral Agreement (Mauser Group B.V.), Second Lien Guarantee and Collateral Agreement (Mauser Group B.V.), First Lien Credit Agreement (PharMEDium Healthcare Holdings, Inc.)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Term Loan Priority Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 4 contracts
Samples: Term Loan Guarantee and Collateral Agreement (Nci Building Systems Inc), Term Loan Guarantee and Collateral Agreement (SiteOne Landscape Supply, Inc.), Credit Agreement (Nci Building Systems Inc)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any U.S. Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Priority Security Collateral, such U.S. Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 3 contracts
Samples: u.s. Guarantee and Collateral Agreement (Veritiv Corp), Abl Credit Agreement (Veritiv Corp), u.s. Guarantee and Collateral Agreement (Veritiv Corp)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Term Priority Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 2 contracts
Samples: Guarantee and Collateral Agreement (Emergency Medical Services CORP), Credit Agreement (Emergency Medical Services CORP)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Priority Security Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 2 contracts
Samples: Credit Agreement (CHC Group Ltd.), Guarantee and Collateral Agreement (CHC Group Ltd.)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any Grantor not constituting Excluded Assets acquired following the Closing Date and constituting ABL Cash Flow Priority Collateral, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 1 contract
Samples: Cash Flow Guarantee and Collateral Agreement (Nci Building Systems Inc)
Assignment of Letter of Credit Rights. In the case of any Letter-of-Credit Rights of any U.S. Grantor not constituting Excluded Assets acquired following the Closing Restatement Effective Date and constituting ABL Priority Security Collateral, such U.S. Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with Section 5-114(c) of the Code.
Appears in 1 contract
Samples: Abl Credit Agreement (Veritiv Corp)
