Common use of Expiration Date of Letters of Credit Past Revolving Commitment Termination Clause in Contracts

Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if not sooner pursuant to Section 2.3.(b)), pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing Bank, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of such Letters of Credit for deposit into the Letter of Credit Collateral Account.

Appears in 3 contracts

Samples: Credit Agreement (Federal Realty OP LP), Credit Agreement (Federal Realty Investment Trust), Credit Agreement (Federal Realty Investment Trust)

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Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default Default, maturity or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if not sooner pursuant to Section 2.3.(b))date, pay to the Administrative Agent, for its benefit and the benefit of the Revolving Lenders and the Issuing BankBank for deposit into the Letter of Credit Collateral Account, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of such Letters of Credit for deposit into the Letter of Credit Collateral AccountCredit.

Appears in 2 contracts

Samples: Credit Agreement (Hudson Pacific Properties, L.P.), Credit Agreement (Hudson Pacific Properties, L.P.)

Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if not sooner pursuant to Section 2.3.(b))date, pay to the Administrative Agent, for its benefit and the benefit of the Revolving Lenders and the Issuing BankBank for deposit into the Letter of Credit Collateral Account, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of such Letters of Credit for deposit into the Letter of Credit Collateral AccountCredit.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Parkway Properties Inc)

Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default Default, maturity or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if provided Borrower has not sooner already done so pursuant to Section 2.3.(b)2.4(b), pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing Bank, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of any such Letters Letter of Credit Credit, in the currency of such Letter of Credit, for deposit into the Letter of Credit Collateral Account.

Appears in 1 contract

Samples: Credit Agreement (Equity One, Inc.)

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Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if not sooner pursuant to Section 2.3.(b))date, pay to the Administrative Agent, for its benefit and the benefit of the Revolving Lenders and the Issuing BankBanks for deposit into the Letter of Credit Collateral Account, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of such Letters of Credit for deposit into the Letter of Credit Collateral AccountCredit.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Parkway, Inc.)

Expiration Date of Letters of Credit Past Revolving Commitment Termination. If on the date the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date (if not sooner pursuant to Section 2.3.(b))date, pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing BankBanks, an amount of money sufficient to cause the balance of available funds on deposit in the Letter of Credit Collateral Account to equal the aggregate Stated Amount of such Letters of Credit for deposit into the Letter of Credit Collateral Account.

Appears in 1 contract

Samples: Credit Agreement (Saul Centers Inc)

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