Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit on or prior to the date that is two (2) Business Days prior to the Revolver Termination Date (by reference to the undrawn face amount of such Letter of Credit) that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity Date.
Appears in 14 contracts
Samples: Credit Agreement (Barings Capital Investment Corp), Senior Secured Credit Agreement (Barings BDC, Inc.), Secured Revolving Credit Agreement (Barings BDC, Inc.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to the Revolver Termination Date (by reference to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 14 contracts
Samples: Senior Secured Credit Agreement (Blue Owl Technology Income Corp.), Senior Secured Credit Agreement (Blue Owl Technology Income Corp.), Senior Secured Credit Agreement (Blue Owl Technology Finance Corp.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to the Revolver Termination Date (by reference to 100% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 6 contracts
Samples: Senior Secured Credit Agreement (Lord Abbett Private Credit Fund), Senior Secured Credit Agreement (BlackRock Private Credit Fund), Senior Secured Credit Agreement (Blue Owl Capital Corp II)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit on or prior to the date that is two either (2A) deposits, no later than five (5) Business Days prior to the Revolver Commitment Termination Date (by reference Date, into the Letter of Credit Collateral Account, Cash in an amount equal to 100% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date or (B) supports such Letter of Credit with another letter of credit pursuant to arrangements reasonably satisfactory to the Issuing Bank and the Administrative Agent, and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 6 contracts
Samples: Senior Secured Revolving Credit Agreement (Goldman Sachs Middle Market Lending Corp. II), Secured Revolving Credit Agreement (Goldman Sachs Private Credit Corp.), Secured Revolving Credit Agreement (Goldman Sachs Private Credit Corp.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver latest Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior latest Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to the Revolver Termination Date (by reference to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver latest Commitment Termination Date and (2) pays in full, on or prior to the Revolver latest Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the latest applicable Maturity Date.
Appears in 6 contracts
Samples: Senior Secured Credit Agreement (Blackstone Private Credit Fund), Senior Secured Credit Agreement (Blackstone Secured Lending Fund), Extension Agreement (Blackstone Private Credit Fund)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Extended Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Extended Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to the Revolver Termination Date (by reference to 100% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Extended Commitment Termination Date and (2) pays in full, on or prior to the Revolver Extended Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Extended Maturity Date.
Appears in 5 contracts
Samples: Credit Agreement (Blue Owl Credit Income Corp.), Credit Agreement (Blue Owl Credit Income Corp.), Secured Revolving Credit Agreement (Blue Owl Capital Corp)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three six months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the applicable Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Commitment Termination Date, into the Letter of Credit Collateral Account Cash with respect to the Revolver Termination Date (by reference such Borrower, an amount equal to 102% of the undrawn face amount of all Letters of Credit issued on behalf of such Letter of Credit) Borrower that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit issued on behalf of such Borrower and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 4 contracts
Samples: Senior Secured (FS Investment Corp III), Senior Secured (FS Investment Corp II), Senior Secured Revolving Credit Agreement (Corporate Capital Trust, Inc.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any . No Letter of Credit have an expiration date that is later than may be renewed following the Revolver earlier to occur of the Commitment Termination Date unless and the Borrower (1) Cash Collateralizes such Termination Date, except to the extent that the relevant Letter of Credit on or prior to the date that is two Cash Collateralized no later than five (25) Business Days prior to the Revolver Commitment Termination Date (by reference to the undrawn face amount of such Letter of Credit) that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, as applicable, and the Borrower pays the applicable Issuing Bank all commissions required fronting fees scheduled to be paid with respect to any such due and payable during the term of the relevant Letter of Credit through or supported by another letter of credit, in each case pursuant to arrangements reasonably satisfactory to the then-current expiration date of such Letter of Credit applicable Issuing Bank and (y) the Administrative Agent. Notwithstanding anything to the contrary contained herein, no Letter of Credit shall have an expiration date after the Final Maturity Date.
Appears in 4 contracts
Samples: Senior Secured Revolving Credit Agreement (North Haven Private Income Fund LLC), Senior Secured Revolving Credit Agreement (North Haven Private Income Fund LLC), Senior Secured Revolving Credit Agreement (North Haven Private Income Fund a LLC)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date twelve months one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months one year after the then-current expiration date of such Letter renewal or extension) and (ii) except as set forth below with respect to Collateralized Letters of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit on or prior to the date that is two (2) five Business Days prior to the Revolver Termination Revolving Maturity Date (by reference to the undrawn face amount “LC Expiration Date”); provided that at the request of such the Borrower any Letter of Credit) that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior Credit may contain customary “evergreen” provisions pursuant to the Revolver Termination Date, all commissions required to be paid with respect to any which such Letter of Credit through will be renewed for successive one-year periods (but, in no event, beyond the then-current LC Expiration Date). Notwithstanding clause (ii) of the preceding sentence, (A) any Collateralized Letter of Credit may, with the consent of the Issuing Bank that issued such Collateralized Letter of Credit, expire on any date following the LC Expiration Date and (B) any Letter of Credit that contains an “evergreen” provision may renew pursuant to such evergreen provision to an expiration date of following the LC Expiration Date if such Letter of Credit and (y) no becomes a Collateralized Letter of Credit shall have an expiration at least 15 Business Days prior to the latest date after upon which the Maturity Dateapplicable Issuing Bank would be entitled to terminate such Letter of Credit prior to its automatic renewal pursuant to such “evergreen” provision.
Appears in 3 contracts
Samples: Credit Agreement (Broadridge Financial Solutions, Inc.), Credit Agreement (Broadridge Financial Solutions, Inc.), Credit Agreement (Broadridge Financial Solutions, Inc.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior to the Revolver Termination Date (by reference Date, into the Letter of Credit Collateral Account Cash, in an amount equal to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 3 contracts
Samples: Secured Revolving Credit Agreement (FS Investment CORP), Senior Secured (FS Investment CORP), Credit Agreement (FS Investment Corp II)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit Collateralizes, on or prior to the date that is two five (25) Business Days prior to the Revolver Termination Date (by reference to the undrawn face amount of Date, such Letter of Credit) LC Exposure that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity Date.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Oaktree Specialty Lending Corp), Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp), Senior Secured (Oaktree Specialty Lending Corp)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower Borrower, (1) Cash Collateralizes such Letter of Credit Collateralizes, on or prior to the date that is two five (25) Business Days prior to the Revolver Termination Date (by reference to the undrawn face amount of Date, such Letter of Credit) LC Exposure that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity Date.
Appears in 2 contracts
Samples: Senior Secured Revolving Credit Agreement (Capital Southwest Corp), Secured Revolving Credit Agreement (Capital Southwest Corp)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Revolving Facility Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Revolving Facility Commitment Termination Date, into the Letter of Credit Collateral Account Cash, an amount equal to the Revolver Termination Date (by reference to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Revolving Facility Commitment Termination Date and (2) pays in full, on or prior to no later than the Revolver Revolving Facility Commitment Termination Date, all commissions required to be paid by the Borrower with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Final Maturity Date.
Appears in 2 contracts
Samples: Senior Secured Credit Agreement (FS Energy & Power Fund), Senior Secured Credit Agreement (FS Energy & Power Fund)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit on or prior to the date that is two (2) Business Days prior to the Revolver Termination Date (by reference to the undrawn face amount of such Letter of Credit) that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity Date.. (e)
Appears in 2 contracts
Samples: Revolving Credit Agreement (Barings BDC, Inc.), Secured Revolving Credit Agreement (Barings BDC, Inc.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Revolving Facility Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Revolving Facility Commitment Termination Date, into the Letter of Credit Collateral Account Cash, an amount equal to the Revolver Termination Date (by reference to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Revolving Facility Commitment Termination Date and (2) pays in full, on or prior to no later than the Revolver Revolving Facility Commitment Termination Date, all commissions required to be paid by the Borrower with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Final Maturity Date.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (FS Energy & Power Fund)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior to the Revolver Termination Date (by reference Date, into the Letter of Credit Collateral Account Cash, in an amount equal to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Termination Date and (2) pays in full, on or prior to the Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 1 contract
Samples: Secured Revolving Credit Agreement (FS Energy & Power Fund)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Revolver Termination Maturity Date unless the Borrower (1) Cash Collateralizes such Letter of Credit on or prior to the date that is two (2) Business Days prior to the Revolver Termination Maturity Date (by reference to the undrawn face amount of such Letter of Credit) that will remain outstanding as of the close of business on the Revolver Termination Maturity Date and (2) pays in full, on or prior to the Revolver Termination Maturity Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity Date.
Appears in 1 contract
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, further, that (x) in no event shall any Letter of Credit have an expiration date that is later than the Extended Revolver Termination Date unless the Borrower Borrower, (1) Cash Collateralizes such Letter of Credit Collateralizes, on or prior to the date that is two five (25) Business Days prior to the Extended Revolver Termination Date (by reference to the undrawn face amount of Date, such Letter of Credit) LC Exposure that will remain outstanding as of the close of business on the Extended Revolver Termination Date and (2) pays in full, on or prior to the Extended Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration date after the Maturity DateDate with respect to Extended Loans.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Capital Southwest Corp)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three months of such then-current expiration date); provided that any Letter of Credit with a one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Commitment Termination Date, into the Letter of Credit Collateral Account Cash, in an amount equal to the Revolver Termination Date (by reference to 102% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 1 contract
Samples: Assignment and Assumption (Corporate Capital Trust, Inc.)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such deposits, no later than the Commitment Termination Date, into the Letter of Credit on or prior Collateral Account, Cash in an amount equal to the date that is two (2) Business Days prior to the Revolver Termination Date (by reference to 100% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 1 contract
Samples: Secured Revolving Credit Agreement (KKR FS Income Trust)
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one-one (1) year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one-one (1) year periods; provided, provided further, that (x) in no event shall any a Letter of Credit have an expiration date that is later than expire after the Revolver Commitment Termination Date unless the Borrower (1) Cash Collateralizes such Letter of Credit deposits, on or prior to the date that is two (2) Business Days prior Commitment Termination Date, into the Letter of Credit 748405650 Collateral Account Cash in an amount equal to the Revolver Termination Date (by reference to 100% of the undrawn face amount of such Letter all Letters of Credit) Credit that will remain outstanding as of the close of business on the Revolver Commitment Termination Date and (2) pays in full, on or prior to the Revolver Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiration expiry date after the Maturity Date.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (Owl Rock Core Income Corp.)