Common use of Conditions to Issuance Clause in Contracts

Conditions to Issuance. The LC Issuer shall have no obligation to issue Letters of Credit, so long as: (i) Any order, judgment or decree of any governmental authority or arbitrator shall by its terms purport to enjoin or restrain the LC Issuer from issuing such Letter of Credit; (ii) Any law applicable to LC Issuer or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over the LC Issuer shall prohibit, or request that the LC Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the LC Issuer with respect to any such Letter of Credit any restriction, reserve or capital requirement (for which the LC Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the LC Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the LC Issuer in good xxxxx xxxxx material to it; (iii) Except as otherwise agreed by LC Issuer, such Letter of Credit is in an initial amount less than $1,000,000; (iv) Such Letter of Credit is to be denominated in a currency other than US Dollars; or (v) Such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.

Conditions to Issuance. The LC Issuer shall have no obligation to issue Letters a requested Letter of Credit, so long as: (i) Any order, judgment or decree of any governmental authority or arbitrator shall by its terms purport to enjoin or restrain the LC Issuer from issuing such Letter of Credit; (ii) Any law applicable to LC Issuer or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over the LC Issuer shall prohibit, or request that the LC Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the LC Issuer with respect to any such Letter of Credit any restriction, reserve or capital requirement (for which the LC Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the LC Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the LC Issuer in good xxxxx xxxxx material to it; (iii) Except as otherwise agreed by LC Issuer, such Letter of Credit is in an initial amount less than $1,000,000; (iv) Such Letter of Credit is to be denominated in a currency other than US Dollars; or (v) Such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.

Conditions to Issuance. The LC Issuer shall have no obligation to issue Letters of Credit, so long as: (i) Any order, judgment or decree of any governmental authority or arbitrator shall by its terms purport to enjoin or restrain the LC Issuer from issuing such Letter of Credit; (ii) Any law applicable to LC Issuer or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over the LC Issuer shall prohibit, or request that the LC Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the LC Issuer with respect to any such Letter of Credit any restriction, reserve or capital requirement (for which the LC Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the LC Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the LC Issuer in good xxxxx xxxxx material to it; (iii) Except as otherwise agreed by LC Issuer, such Letter of Credit is in an initial amount less than $1,000,000; (iv) Such Letter of Credit is to be denominated in a currency other than US Dollars; or; (v) Such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder; or (vi) No Subsidiary Account Party is party to this Agreement as of the proposed date of issuance.

Conditions to Issuance. The LC Issuer shall have no obligation to issue Letters a Letter of Credit, so long as: (i) Any order, judgment or decree of any governmental authority or arbitrator shall have been entered or rendered which by its terms purport to enjoin or restrain the LC Issuer from issuing such Letter of Credit; (ii) Any law applicable to LC Issuer or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over the LC Issuer shall prohibit, or request that the LC Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the LC Issuer with respect to any such Letter of Credit any restriction, reserve or capital requirement (for which the LC Issuer is not otherwise compensated hereunder) not in effect on the Effective Date, or shall impose upon the LC Issuer any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which the LC Issuer in good xxxxx xxxxx material to it; (iii) Except as otherwise agreed by LC Issuer, such Letter of Credit is in an initial amount less than $1,000,000; (iv) Such Letter of Credit is to be denominated in a currency other than US Dollars; (v) Five (5) Letters of Credit are outstanding; (vi) A Sell Down Event shall have occurred or would have occurred but for the posting of cash collateral as described in clause (ii) of the definition of “Sell Down Event”; or (vvii) Such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.