Common use of Commitment for Letters of Credit Clause in Contracts

Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving Lenders set forth in this Section, each Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the Borrower or any Subsidiary thereof.

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies Inc), Credit Agreement (Rowan Companies Inc)

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Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving Lenders set forth in this Section, each Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the a Borrower or any Subsidiary thereof.

Appears in 2 contracts

Samples: Credit Agreement (Rowan Companies PLC), Credit Agreement (Rowan Companies PLC)

Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving Lenders set forth in this Section, each Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the date that is five Business Days prior to the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the Borrower Parent or any Subsidiary thereof.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies PLC)

Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving other Lenders set forth in this Section, each Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the Borrower or any Subsidiary thereof.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies Inc)

Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving other Lenders set forth in this Section, each the Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit (other than an increase or extension of an Existing Letter of Credit) for the account of the Borrower Parent or any Subsidiary thereof.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne Inc)

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Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving Lenders set forth in this Section, each Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit date that is five Business Days prior to the Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the Borrower Parent or any Subsidiary thereof.

Appears in 1 contract

Samples: Credit Agreement (Rowan Companies PLC)

Commitment for Letters of Credit. Subject to the terms and conditions set forth in this Agreement and in reliance upon the agreements of the Revolving other Lenders set forth in this Section, each the Issuing Lender agrees to, from time to time on any Business Day during the period from the Closing Date until the Revolving Credit Maturity Date, issue, increase or extend the expiration date of, the Letters of Credit for the account of the Borrower Parent or any Subsidiary thereof.

Appears in 1 contract

Samples: Credit Agreement (Helmerich & Payne Inc)

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