Documentary Credits. Any reference in this Agreement to:
Documentary Credits. The Documentary Credit Lender agrees, on the terms and conditions of this Agreement, to issue Documentary Credits under the Credit Facility only for the account of the Borrower from time to time on any Business Day prior to the Maturity Date in respect of the Documentary Credit Lender.
Documentary Credits amend the Credit Agreement to permit utilisation of the Revolving Facility by way of letters of credit, bank guarantees, indemnity, performance bonds and other documentary credits.
Documentary Credits. Each Documentary Credit issued under the Revolving Credit Facility may only be issued for the purposes set out in Clause 3.2 (Revolving Credit Loans).
Documentary Credits. 5.1 Each documentary credit opened at my (our) request by the Bank (“Credit”) shall be subject to the Uniform Customs and Practice for Documentary Credits (2007 Revision) of the International Chamber of Commerce Publication No. 600 (or any revision or amendment thereof for the time being in force) and to the extent not inconsistent therewith, shall be governed by the laws of the People’s Republic of China (for the purpose of this Agreement, excluding Hong Kong, Macau and Taiwan, “PRC”), provided that, if the parties to such Credit are all PRC entities or persons, such Credit shall be governed by the laws of PRC. I (We) authorise the Bank to pay or accept for my (our) account all drafts, demands or other instruments (each a “draft”) drawn or made or purporting to be drawn or made under any Credit. I (We) shall (i) in the case of each sight draft, reimburse to the Bank on demand the amount paid on such draft or, if so required by the Bank, pay to the Bank or as the Bank may direct in advance the amount which is or may be payable on such draft and (ii) in the case of each acceptance, pay to the Bank, or as the Bank may direct, on demand, but in any event on or before maturity at the place for payment, the amount payable by reason of such acceptance. I (We) shall make payment in cleared funds and in the currency in which the relevant draft is denominated or in such other currency as the Bank may specify. If payment is to be made in another currency, the amount to be paid in such other currency shall be determined by the Bank calculated at the spot rate of exchange (as conclusively determined by the Bank) on the date when such payment is required to be made or, at the Bank’s option, when the relevant draft will be payable. In any event, I (we) shall indemnify the Bank against any exchange loss or difference between the amount paid by me (us) and the amount payable on the relevant draft. If a draft is drawn by me (us) on the Bank in order to refinance any obligation as aforesaid and such draft is accepted by the Bank, the foregoing provisions shall apply as if such draft was drawn and accepted under a Credit.
Documentary Credits. The Lender agrees, on the terms and conditions of this Agreement, to issue Documentary Credits under the Operating Facility only for the account of the Borrower from time to time on any Business Day prior to the Repayment Date upon execution of the Lender's prevailing standard form documentation in relation thereto, including the applicable application and indemnity.
Documentary Credits. (1) The Domestic Issuing Lender agrees, on the terms and conditions of this Agreement and in reliance on the agreements of the other Lenders with Canadian Operating Commitments, to issue Documentary Credits under the Canadian Operating Facility only for the account of Bracknell or State from time to time on any Business Day prior to the Relevant Repayment Date.
Documentary Credits. The Documentary Credit Lender agrees, on the terms and conditions of this Agreement and in accordance with the applicable Issue Notice, to issue any Type of Documentary Credit under the Operating Facility only for the account of SGC from time to time on any Business Day prior to the fifth Business Day prior to the Relevant Repayment Date in respect of the Operating Facility. The aggregate Face Amount of Documentary Credits outstanding at any time shall not exceed the Documentary Credit Lender’s Commitment.
Documentary Credits. (1) The Swing Line Lender agrees, on the terms and subject to the conditions of this Agreement, to issue Documentary Credits under the Swing Line for the account of each Borrower from time to time on any Business Day prior to the Maturity Date (subject to Section 5.01(3) in the period prior to the Second Lien Notes Repayment Date). Upon the issuance of any Documentary Credit by the Swing Line Lender, each Lender hereby irrevocably agrees to purchase from the Swing Line Lender a risk participation in such Documentary Credits in an amount equal to the product of such Lender’s Applicable Percentage of the Credit Facility times the principal amount of such Documentary Credits upon notice from the Swing Line Lender.
Documentary Credits. .01 Upon satisfaction of the conditions precedent and subject to the terms of this agreement, Bank may, at its sole discretion, issue one or more documentary credits to such beneficiaries, in such face amounts and upon such terms as may be specified by Borrower in applications for such credits which are submitted to Bank from time to time on or before May 1, 1992 (the "maturity date") provided that (a) the aggregate of the face amount of all such credits and all advances and overadvances to Borrower outstanding at any one time, including the credit being applied for, does not exceed $25 million, (b) such credits have been and are being used solely and exclusively for purchase of sportswear from overseas suppliers, (c) the expiration date of each credit is not more than 365 days after its issuance date, and (d) there is no default or incipient default under this agreement at the time the credit is applied for or issued.
