Common use of Borrowings and Issuances of Letters of Credit Clause in Contracts

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer to issue (which shall include, for purposes of this Section, any renewal or extension of the term of) any Letter of Credit are each subject to the satisfaction of the following conditions:

Appears in 5 contracts

Samples: Credit Agreement (Metro-Goldwyn-Mayer Inc), Credit Agreement (Metro-Goldwyn-Mayer Inc), Credit Agreement (Metro-Goldwyn-Mayer Inc)

AutoNDA by SimpleDocs

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer to issue (which shall include, for purposes of this Section, any renewal or extension of the term of) any Letter of Credit are each subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Metro-Goldwyn-Mayer Inc)

AutoNDA by SimpleDocs

Borrowings and Issuances of Letters of Credit. The obligation of any Lender to make a Loan on the occasion of any Borrowing (other than the obligation of any Lender to make a Refunding Swing Loan), and the obligation of an L/C Issuer Issuing Lender to issue (which shall include, for purposes of this Section, be deemed to include any renewal or extension of the term of) any a Letter of Credit are each on the occasion of a request therefor (including, without limitation, any of the foregoing to occur on the Amendment Effective Date) is subject to the satisfaction of the following conditions:

Appears in 1 contract

Samples: Credit Agreement (Exide Electronics Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.