Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 2 contracts
Samples: Revolving Credit Agreement (PPL Corp), Revolving Credit Agreement (PPL Energy Supply LLC)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $250,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 2 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement (PPL Energy Supply LLC)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $200,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 2 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement (PPL Energy Supply LLC)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in the form called for by the Reimbursement Agreement with all information filled in and substance verified to the satisfaction of such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered the Reimbursement Agreement, the Custody Agreement and such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings Letter of Credit Liabilities will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitCommitments. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Datedate hereof, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date date hereof and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 2 contracts
Samples: Amendment and Restatement Agreement (LG&E & KU Energy LLC), Letter of Credit Agreement (PPL Corp)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender CIBC of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing LenderCIBC, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, Company shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender CIBC shall have reasonably requested and requested, (iii) the term of such Issuing Lender Letter of Credit does not extend beyond 12 months after the date of issuance (after giving effect to any and all auto-renewal or extension provisions within such Letter of Credit), and does not extend beyond the Termination Date; and (iv) CIBC shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings Aggregate Stated Amount will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitMaximum Stated Amount. Notwithstanding any other provision of this Section 3.043.2, no Issuing Lender CIBC shall not be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender CIBC from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender CIBC or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender CIBC shall prohibit, or request that such Issuing Lender CIBC refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular particular, or shall impose upon such Issuing Lender CIBC with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender CIBC is not otherwise compensated hereunder) not in effect on the Escrow Closing Datedate hereof, or shall impose upon such Issuing Lender CIBC any unreimbursed loss, cost or expense which was not applicable on the Effective Date date hereof and which such Issuing Lender CIBC in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $250,000,000, (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (BC) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $150,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all Letter of Credit Liabilities will not exceed the Letter of Credit Commitment and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitRevolving Commitments. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the applicable Borrower and, if applicable, any such Affiliate of the such Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed the Aggregate LC Sublimit, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments Commitments, (iii) the Borrower Revolving Outstandings of any Borrower will not exceed such Borrower’s Sublimit and (Biv) the aggregate fronting exposure of any Issuing Lender shall not exceed the its Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.. Section 3.05
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the applicable Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such the Issuing Lender shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all LC Obligations will not exceed the LC Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.06, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of such Issuing Lender.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $50,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure Letter of Credit Liabilities of any Issuing Lender shall not exceed the Fronting Issuing Lender Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx fxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $150,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx fxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in the form called for by the Reimbursement Agreement with all information filled in and substance verified to the satisfaction of such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered the Reimbursement Agreement, the Custody Agreement and such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings Letter of Credit Liabilities will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitCommitments. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an the Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such the Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate Subsidiary of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and (iiic) such the Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $10,000,000 and (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitCommitments. Notwithstanding any other provision of this Section 3.043.03, no the Issuing Lender shall be under any no obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such the Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such the Issuing Lender shall prohibit, or request that such the Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such the Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such the Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such the Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such the Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Samples: Revolving Credit Agreement (PPL Electric Utilities Corp)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of Letter of Credit Liabilities shall not exceed $200,000,000, (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (BC) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSECTION 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the applicable Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such the Issuing Lender shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all LC Obligations will not exceed the LC Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in SECTION 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.04SECTION 2.06, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx faith deems material to it; or (ii) the issuance of such Letter of Xxxxxx xxxll violate any applicable general policies of such Issuing Lender.
Appears in 1 contract
Samples: Worthington Industries Inc
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $250,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.or
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender CIBC of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing LenderCIBC, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, Company shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender CIBC shall have reasonably requested and requested, (iii) the term of such Issuing Lender Letter of Credit does not extend beyond 12 months after the date of issuance (after giving effect to any and all auto-renewal or extension provisions within such Letter of Credit); and (iv) CIBC shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings Aggregate Stated Amount will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitMaximum Stated Amount. Notwithstanding any other provision of this Section 3.043.2, no Issuing Lender CIBC shall not be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender CIBC from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender CIBC or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender CIBC shall prohibit, or request that such Issuing Lender CIBC refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular particular, or shall impose upon such Issuing Lender CIBC with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender CIBC is not otherwise compensated hereunder) not in effect on the Escrow Closing Datedate hereof, or shall impose upon such Issuing Lender CIBC any unreimbursed loss, cost or expense which was not applicable on the Effective Date date hereof and which such Issuing Lender CIBC in good xxxxx xxxxx material to it.
Appears in 1 contract
Samples: And Reimbursement Agreement (PPL Electric Utilities Corp)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the applicable Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such the Issuing Lender shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all LC Obligations will not exceed the LC Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.06, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx faith deems material to it; or (ii) the issuance of such Xxxxxx xx Credit shall violate any applicable general policies of such Issuing Lender.
Appears in 1 contract
Samples: Revolving Credit Agreement (Worthington Industries Inc)
Conditions to Issuance of Letters of Credit. The issuance by an the Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be reasonably satisfactory in form and substance to such the Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all LC Obligations will not exceed the LC Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender shall not exceed have been notified by any Lender that any condition specified in Section 4.02(b) or (c) is not satisfied on the Fronting Sublimitdate such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.05, no the Issuing Lender shall not be under any obligation hereunder to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such the Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such the Issuing Lender shall prohibit, or request that such the Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such the Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such the Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender the Administrative Agent any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such the Issuing Lender in good xxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of the Issuing Lender.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender L/C Issuer of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lenderthe applicable L/C Issuer, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender the L/C Issuer shall have reasonably requested and requested, (iii) such Issuing Lender the L/C Issuer shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all L/C Obligations will not exceed the L/C Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender L/C Issuer shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.05, no Issuing Lender L/C Issuer shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such Issuing Lender the L/C Issuer from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender L/C Issuer or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender L/C Issuer shall prohibit, or request that such Issuing Lender L/C Issuer refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender L/C Issuer with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender L/C Issuer is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender L/C Issuer in good xxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of such L/C Issuer.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Issuing Lender is prepared to issue such Letter of Credit (which determination it may give or withhold in its absolute discretion), (b) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iic) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiid) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate face amount of the Commitments and (B) the aggregate fronting exposure all outstanding Letters of any Issuing Lender Credit Liabilities shall not exceed the Fronting Sublimit. total facility limit amount set forth on Appendix A. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $250,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.such
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be reasonably satisfactory in form and substance to such the applicable Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such the Issuing Lender shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all LC Obligations will not exceed the LC Committed Amount, (B) the Foreign Currency LC Exposure will not exceed the Foreign Currency LC Committed Amount, (C) the aggregate Domestic Revolving Outstandings will not exceed the aggregate amount of the Commitments Domestic Revolving Committed Amount and (BD) the aggregate fronting exposure of any Aggregate Revolving Outstandings will not exceed the Aggregate Revolving Committed Amount and (iv) the Issuing Lender shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.05, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of such Issuing Lender.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $150,000,000, (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (BC) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all Letter of Credit Liabilities will not exceed the Letter of Credit Commitment and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitRevolving Commitments. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $200,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.of
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (Ai) the aggregate outstanding amount of Letter of Credit Liabilities shall not exceed $200,000,000, (ii) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (Biii) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.or
Appears in 1 contract
Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (ia) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (iib) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iiic) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitCommitments. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
Appears in 1 contract
Conditions to Issuance of Letters of Credit. The issuance by an the Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth elsewhere in Article IVthis Agreement, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and (iii) such the Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all Letter of Credit Liabilities will not exceed the Letter of Credit Commitment and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitRevolving Commitments. Notwithstanding any other provision of this Section 3.04, no the Issuing Lender shall not be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such the Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such the Issuing Lender shall prohibit, or request that such the Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such the Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such the Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such the Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such the Issuing Lender in good xxxxx xxxxx material to it.”
Appears in 1 contract
Samples: Credit Agreement (PPL Corp)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Effective Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx xxxxx material to it.
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Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be reasonably satisfactory in form and substance to such the applicable Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and requested, (iii) such the Issuing Lender shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) in the case of the issuance of a Revolving Letter of Credit, (x) the aggregate amount of all Revolving LC Obligations will not exceed the Revolving LC Committed Amount, (y) the aggregate Domestic Revolving Outstandings will not exceed the Domestic Revolving Committed Amount, and (z) the Aggregate Revolving Outstandings will not exceed the Aggregate Revolving Committed Amount, (B) in the case of the issuance of a Credit-Linked Letter of Credit, the aggregate amount of all Credit-Linked LC Obligations will not exceed the Commitments Credit-Linked LC Committed Amount, and (BC) in the case of the issuance of (x) a Revolving Foreign Currency Letter of Credit, the Revolving Foreign Currency LC Exposure will not exceed the Revolving Foreign Currency LC Committed Amount and (y) a Credit-Linked Foreign Currency Letter of Credit, the Credit-Linked Foreign Currency LC Exposure will not exceed the Credit-Linked Foreign Currency LC Committed Amount; (iv) the aggregate fronting exposure of any Issuing Lender shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued and (v) in the case of the issuance of a Credit-Linked Foreign Currency Letter of Credit, the Borrower shall have Cash Collateralized 5% of the initial face amount of such Credit-Linked Foreign Currency Letter of Credit. Notwithstanding any other provision of this Section 3.042.05, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender in good xxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of such Issuing Lender.
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Conditions to Issuance of Letters of Credit. The issuance by an the Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVIII, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and (iii) such the Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all Letter of Credit Liabilities will not exceed the Letter of Credit Commitment and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitRevolving Commitments. Notwithstanding any other provision of this Section 3.04, no the Issuing Lender shall not be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such the Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such the Issuing Lender shall prohibit, or request that such the Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such the Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such the Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such the Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such the Issuing Lender in good xxxxx xxxxx material to it.
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Samples: Credit and Revolving Credit Agreement (PPL Energy Supply LLC)
Conditions to Issuance of Letters of Credit. The issuance by an the Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such the Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such the Issuing Lender shall have reasonably requested and (iii) such the Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all Letter of Credit Liabilities will not exceed the Letter of Credit Commitment and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting SublimitRevolving Commitments. Notwithstanding any other provision of this Section 3.043.03, no the Issuing Lender shall not be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such the Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such the Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such the Issuing Lender shall prohibit, or request that such the Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such the Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such the Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such the Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such the Issuing Lender in good xxxxx xxxxx material to it.
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Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IV, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lender, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender shall have reasonably requested and (iii) such Issuing Lender shall have confirmed on the date of (and after giving effect to) such issuance that (A) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Commitments and (B) the aggregate fronting exposure of any Issuing Lender shall not exceed the Fronting Sublimit. Notwithstanding any other provision of this Section 3.04, no Issuing Lender shall be under any obligation to issue any Additional Letter of Credit if: any order, judgment or decree of any governmental authority shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Additional Letter of Credit, or any requirement of law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Lender in good xxxxx fxxxx xxxxx material to it.
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Samples: Assignment and Assumption (PPL Corp)
Conditions to Issuance of Letters of Credit. The issuance by an Issuing Lender L/C Issuer of each Additional Letter of Credit shall, in addition to the conditions precedent set forth in Article IVSection 4.02, be subject to the conditions precedent that (i) such Letter of Credit shall be satisfactory in form and substance to such Issuing Lenderthe applicable L/C Issuer, (ii) the Borrower and, if applicable, any such Affiliate of the Borrower, shall have executed and delivered such other instruments and agreements relating to such Letter of Credit as such Issuing Lender the L/C Issuer shall have reasonably requested and requested, (iii) such Issuing Lender the L/C Issuer shall have confirmed with the Administrative Agent on the date of (and after giving effect to) such issuance that (A) the aggregate amount of all L/C Obligations will not exceed the L/C Committed Amount and (B) the aggregate Revolving Outstandings will not exceed the aggregate amount of the Revolving Commitments and (Biv) the aggregate fronting exposure of any Issuing Lender L/C Issuer shall not exceed have been notified by the Fronting SublimitAdministrative Agent that any condition specified in Section 4.02(b) or (c) is not satisfied on the date such Letter of Credit is to be issued. Notwithstanding any other provision of this Section 3.042.05, no Issuing Lender L/C Issuer shall be under any obligation to issue any Additional Letter of Credit if: (i) any order, judgment or decree of any governmental authority Governmental Authority shall by its terms purport to enjoin or restrain such Issuing Lender the L/C Issuer from issuing such Additional Letter of Credit, or any requirement of law Law applicable to such Issuing Lender L/C Issuer or any request or directive (whether or not having the a force of lawLaw) from any governmental authority Governmental Authority with jurisdiction over such Issuing Lender L/C Issuer shall prohibit, or request that such Issuing Lender L/C Issuer refrain from, the issuance of letters of credit generally or such Additional Letter of Credit in particular or shall impose upon such Issuing Lender L/C Issuer with respect to such Additional Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Lender L/C Issuer is not otherwise compensated hereunder) not in effect on the Escrow Closing Date, or shall impose upon such Issuing Lender L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Closing Date and which such Issuing Lender L/C Issuer in good xxxxx fxxxx xxxxx material to it; or (ii) the issuance of such Letter of Credit shall violate any applicable general policies of such L/C Issuer.
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