Existing LCs Sample Clauses

Existing LCs. The Existing LCs will be deemed to be Letters of Credit issued under this Agreement on the Effective Date.

Existing LCs. (a) The Existing LCs shall be deemed to be outstanding Utilisations under this Agreement on and from the date on which the Agent provides its notification to the Banks under Clause 4.1 (Documentary conditions precedent). The Agent shall promptly notify each Bank of the details of the Existing LCs and the amount of its participation in the Existing LCs on that date. (b) For the avoidance of doubt, the LC Borrower will not be required to complete or deliver a Request with respect to the Existing LCs. The Existing LCs will be deemed issued and delivered in accordance with Clause 6.5 (Issue of LC).

Existing LCs. At the Effective Time, each Existing LC that was a "Fronted LC" under and as defined in the Original Credit Agreement shall be deemed to be outstanding as a Fronted LC issued at the request of the Borrower hereunder and each Existing LC that was a "Swingline LC" under and as defined in the Original Credit Agreement shall be deemed to be a Swingline LC issued at the request of the Borrower herunder.

Existing LCs. Concurrently with this Agreement becoming effective, each Existing LC which is presently outstanding and was issued by a Lender at the request and for the account of PEDC or POT shall be deemed to be outstanding as a Letter of Credit by such Lender to the Borrower hereunder.

Existing LCs. Upon the satisfaction of each of the conditions precedent to the initial Loans and the initial issuance of LCs under the LC Subfacility set forth in Section 3, each of the Existing LCs shall be deemed to be an LC issued hereunder for all purposes; provided that no issuance fee shall be payable pursuant to Section 2.3(c)(ii) with respect to such Existing LCs (except in connection with a renewal or extension of such LCs).

Existing LCs. The Borrower shall have (a) replaced all Existing LCs ------------ or (b) deposited cash collateral in the face amount of the Existing LCs in an account maintained with the Agent.

Existing LCs. Borrower has executed, an enforceable, unconditional reimbursement agreement with LaSalle for each of the Existing LCs and each other Letter of Credit and Borrower has an unconditional obligation to reimburse LaSalle for any drawings thereunder.

Existing LCs. The parties hereto expressly acknowledge and agree that as of and from the date a letter of credit is designated as an Existing LC by the Administrative Agent: 6.8.1 the Existing LCs shall continue to be considered to have been issued pursuant to a Drawdown under the Cdn Revolving Facility and to form part of the Cdn Revolving LC Liabilities hereunder; 6.8.2 each one of the issuing lenders thereunder shall continue to be considered to be a Cdn LC Issuing Lender with respect to such Existing LCs issued by it or by an Affiliate; 6.8.3 the Borrowers shall pay an LC Fee with respect to such Existing LCs calculated in accordance with the provisions of Section 6.3 and distributed in accordance with the provisions of Section 6.4.

Existing LCs. LC Issuer has issued the Existing LCs. All Existing LCs shall be subject to and governed by the terms and conditions of this Agreement. From and after the Closing Date, Borrower shall not request, and LC Issuer shall not issue, any additional Letters of Credit pursuant to this Agreement, and Borrower shall not request, and LC Issuer shall not renew or extend, any Existing LCs.

Existing LCs. The parties hereto acknowledge and agree that as of the Closing Date, all letters of credit issued and outstanding under the Existing Credit Facilities (the "Existing LCs") shall be deemed to be LCs issued hereunder and subject to the terms and conditions of this Agreement. As of and from the Closing Date, any LC Fee payable in respect of any Existing LCs shall be paid to the Lender in accordance with Section 4.3.