Common use of Assistance and Purpose Clause in Contracts

Assistance and Purpose. Within the Revolving Commitments and subject to sufficient Net Availability, the Lenders (acting through Administrative Agent) shall assist the Borrowers in obtaining Letters of Credit in an aggregate undrawn amount outstanding at any time not to exceed the Letter of Credit Sublimit. The term, form and purpose of each Letter of Credit and all documentation in connection therewith, and any amendments, modifications or extensions thereof, must be mutually acceptable to Administrative Agent, the Issuing Bank and the Borrower Representative, provided that the Borrowers shall not request a Letter of Credit to support the purchase of domestic Inventory or to secure present or future indebtedness owed to suppliers of domestic Inventory. Notwithstanding any other provision of this Agreement to the contrary, if a Default or Event of Default shall have occurred and remain outstanding, Administrative Agent’s and the Lenders’ assistance in connection with any Letter of Credit shall be in the discretion of the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Protech Home Medical Corp.)

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Assistance and Purpose. Within the Revolving Commitments Line of Credit and subject to sufficient Net Availability, the Lenders (acting through Administrative the Agent) shall assist the Borrowers Companies in obtaining Letters of Credit in an aggregate undrawn amount outstanding at any time not to exceed the Letter of Credit SublimitSub-Line. The term, form and purpose of each Letter of Credit and all documentation in connection therewith, and any amendments, modifications or extensions thereof, must be mutually acceptable to Administrative the Agent, the Issuing Bank and the Borrower RepresentativeFunds Administrator, provided that the Borrowers Companies shall not request a Letter of Credit to support the purchase of domestic Inventory or to secure present or future indebtedness owed to suppliers of domestic Inventory. Notwithstanding any other provision of this Financing Agreement to the contrary, if a Default or an Event of Default shall have occurred and remain outstanding, Administrative the Agent’s and the Lenders’ assistance in connection with any Letter of Credit shall be in the discretion of the Required Lenders.

Appears in 1 contract

Samples: Financing Agreement (Under Armour, Inc.)

Assistance and Purpose. Within the Revolving Commitments Line of Credit and subject to sufficient Net Availability, the Lenders (acting through Administrative the Agent) shall assist the Borrowers Companies in obtaining Letters of Credit in an aggregate undrawn amount outstanding at any time not to exceed the Letter of Credit SublimitSub-Line. The term, form and purpose of each Letter of Credit and all documentation in connection therewith, and any amendments, modifications or extensions thereof, must be mutually acceptable to Administrative the Agent, the Issuing Bank and the Borrower RepresentativeFunds Administrator, provided that the Borrowers Companies shall not request a Letter of Credit to support the purchase of domestic Inventory or to secure present or future indebtedness owed to suppliers of domestic InventoryInventory unless such Inventory is being imported from a location outside of the United States. Notwithstanding any other provision of this Financing Agreement to the contrary, if a Default or an Event of Default shall have occurred and remain outstanding, Administrative the Agent’s and the Lenders’ assistance in connection with any Letter of Credit shall be in the discretion of the Required Lenders.

Appears in 1 contract

Samples: Financing Agreement (Under Armour, Inc.)

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Assistance and Purpose. Within the Revolving Commitments Line of Credit and subject to sufficient Net Availability, the Lenders (acting through Administrative the Agent) shall assist the Borrowers Company in obtaining Letters of Credit in an aggregate undrawn amount outstanding at any time not to exceed the Letter of Credit SublimitSub-Line. The term, form and purpose of each Letter of Credit and all documentation in connection therewith, and any amendments, modifications or extensions thereof, must be mutually acceptable to Administrative the Agent, the Issuing Bank and the Borrower RepresentativeCompany, provided that the Borrowers Company shall not request a Letter of Credit to support the purchase of domestic Inventory or to secure present or future indebtedness owed to suppliers of domestic InventoryInventory unless otherwise approved by the Agent on a case-by-case basis. Notwithstanding any other provision of this Financing Agreement to the contrary, if a Default or an Event of Default shall have occurred and remain outstanding, Administrative the Agent’s and the Lenders’ assistance in connection with any Letter of Credit shall be in the discretion of the Required Lenders.

Appears in 1 contract

Samples: Financing Agreement (Horsehead Holding Corp)

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