Effect of Letters of Credit on Commitments. Upon the issuance by the Issuing Lender of any Letter of Credit and until such Letter of Credit shall have expired or been terminated, the Revolving Loan Commitment of each Revolving Loan Lender shall be deemed to be utilized for all purposes of this Agreement in an amount equal to the product of (i) such Revolving Loan Lender's Revolving Loan Commitment Percentage and (ii) the sum of (A) the Stated Amount of such Letter of Credit plus (B) any related Reimbursement Obligations then outstanding.
Appears in 2 contracts
Samples: Credit Agreement (Parkway Properties Inc), Credit Agreement (Colonial Properties Trust)
Effect of Letters of Credit on Commitments. Upon the issuance by the any Issuing Lender Bank of any Letter of Credit and until such Letter of Credit shall have expired or been terminatedcancelled, the Revolving Loan Commitment of each Revolving Loan Lender shall be deemed to be utilized for all purposes of this Agreement in an amount equal to the product of (i) such Revolving Loan Lender's ’s Revolving Loan Commitment Percentage and (ii) the sum of (A) the Stated Amount of such Letter of Credit plus (B) any related Reimbursement Obligations then outstanding.
Appears in 1 contract
Samples: Credit Agreement (Sl Green Operating Partnership, L.P.)
Effect of Letters of Credit on Commitments. Upon the issuance or deemed issuance, as applicable, by the Issuing Lender Bank of any Letter of Credit and until such Letter of LEGAL02/33546501v8 Credit shall have expired or been terminated, the Revolving Loan Commitment of each Revolving Loan Lender shall be deemed to be utilized for all purposes of this Agreement in an amount equal to the product of (i) such Revolving Loan Lender's Revolving Loan Commitment Percentage ’s pro rata percentage and (ii) the sum of (A) the Stated Amount of such Letter of Credit plus (B) any related Reimbursement Obligations then outstanding.
Appears in 1 contract
Samples: Credit Agreement (Scana Corp)
