Common use of Expiration Dates of Letters of Credit Clause in Contracts

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth (30th) day prior to the Maturity Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Date.

Appears in 6 contracts

Samples: Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (Broadwind Energy, Inc.)

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Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth twenty-fifth (30th25th) day prior to the Maturity Dateend of the Original Term. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth twenty-fifth (30th25th) day prior to the Maturity Dateend of the Original Term.

Appears in 3 contracts

Samples: Loan and Security Agreement (Cobra Electronics Corp), Loan and Security Agreement (Cobra Electronics Corp), Loan and Security Agreement (Cobra Electronics Corp)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (ia) one (1) year from the date of issuance and (iib) the thirtieth (30th) day prior to the Maturity Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Date.

Appears in 2 contracts

Samples: Credit and Security Agreement (Mendocino Brewing Co Inc), Credit and Security Agreement (Clark Holdings Inc.)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth (30th) day prior to first anniversary of the Maturity Date (the “Termination Date”). Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Date.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Lawson Products Inc/New/De/)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth (30th) day prior to the Maturity Dateend of the Original Term. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Dateend of the Original Term.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amcon Distributing Co), Loan and Security Agreement (Obsidian Enterprises Inc)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth fifteenth (30th15th) day prior to the Maturity Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for up to one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth fifteenth (30th15th) day prior to the Maturity Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Katy Industries Inc)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth (30th) day prior to the Maturity Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Date. INTEREST, FEES AND CHARGES.

Appears in 1 contract

Samples: Credit and Security Agreement (Lime Energy Co.)

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Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no on a date which is not later than the earlier of (ia) one (1) year from the its date of issuance and or (iib) the thirtieth (30th) day prior to the Maturity date set forth in clause (a) of the definition of the term Commitment Termination Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Date.or more successive one

Appears in 1 contract

Samples: Credit Agreement (Uap Holding Corp)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (ia) one (1) year from the date of issuance and (iib) the thirtieth tenth (30th10th) day Business Day prior to the Final Maturity Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth tenth (30th10th) day Business Day prior to the Final Maturity Date.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Varagon Capital Corp)

Expiration Dates of Letters of Credit. The expiration date of each Letter of Credit shall be no later than the earlier of (i) one (1) year from the date of issuance and (ii) the thirtieth (30th) day prior to the Maturity Revolving Loan Termination Date. Notwithstanding the foregoing, a Letter of Credit may provide for automatic extensions of its expiration date for one or more one (1) year periods, so long as the issuer thereof has the right to terminate the Letter of Credit at the end of each one (1) year period and no extension period extends past the thirtieth (30th) day prior to the Maturity Revolving Loan Termination Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Omni Energy Services Corp)

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