CLOSING DATE ADVANCES AND LETTERS OF CREDIT Sample Clauses

CLOSING DATE ADVANCES AND LETTERS OF CREDIT. The Lenders shall be obligated (subject to SECTION 4.2) to make Advances and purchase participations in the Letters of Credit hereunder on the Closing Date, and the L/C Issuer shall be obligated (subject to SECTION 4.2) to issue Letters of Credit hereunder on the Closing Date, only after the Agent shall have received from the Borrowers, with sufficient copies for the Agent and each of the Lenders, each of the following items in form and substance satisfactory to the Agent:
Sample 1
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CLOSING DATE ADVANCES AND LETTERS OF CREDIT. The Lenders shall be obligated (subject to SECTION 4.2) to make Advances and purchase participations in the Letters of Credit hereunder on the Closing Date, and the L/C Issuer shall be obligated (subject to SECTION 4.2) to issue Letters of Credit hereunder on the Closing Date, only after (x) the Agent, the Agent's counsel, O'Melveny & Xxxxx LLP (counsel to the lenders party to the Existing Revolver Agreement) Ernst & Young, financial advisor to the administrative agent under the Existing Revolver Agreement, and Xxxxx, Xxxxx & Xxxxx, counsel to the administrative agent under the Existing Revolver Agreement, shall have been paid in full for all fees, costs and expenses payable by the Borrowers under SECTION 10.7 of this Agreement and the other Loan Documents to the extent then invoiced, and (y) the Agent shall have received from the Borrowers, with sufficient copies for the Agent and each of the Lenders, each of the following items in form and substance satisfactory to the Agent:
Sample 1

Related to CLOSING DATE ADVANCES AND LETTERS OF CREDIT

  • The Advances and Letters of Credit (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an aggregate amount (based in respect of any Advances to be denominated in a Committed Currency by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Borrowing) not to exceed such Lender’s Unused Commitment at such time. Each Borrowing shall be in an amount not less than the Borrowing Minimum or the Borrowing Multiple in excess thereof and shall consist of Advances of the same Type and in the same currency made on the same day by the Lenders ratably according to their respective Revolving Credit Commitments. Within the limits of each Lender’s Revolving Credit Commitment, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a).

  • Loans and Letters of Credit On the Closing Date:

  • Treatment of Outstanding Loans and Letters of Credit 25 2.6 Making Revolving Credit Loans and Swing Loans; Presumptions by the Administrative Agent; Repayment of Revolving Credit Loans; Repayment of Swing Loans 26

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

  • Purpose of Loans and Letters of Credit The Borrower will use the Letters of Credit and the proceeds of the Loans to (a) provide for working capital, capital expenditures and general corporate purposes of the Credit Parties and their Subsidiaries (including, without limitation, Permitted Acquisitions), (b) on the Closing Date to refinance the Existing Credit Agreement, and (c) pay fees and expenses relating to any of the foregoing.

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

  • 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.

  • 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.

  • Conditions Precedent to Loans and Letters of Credit 57 Section 3.1. Conditions to Effectiveness 57 Section 3.2. Conditions to Each Credit Event 60 Section 3.3. Delivery of Documents 60

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