Common use of Further Letters of Credit Clause in Contracts

Further Letters of Credit. For so long as any of the circumstances described in sub-clauses 6.2 (a) to 6.2(b) above are in existence, the Borrower may not submit a Utilisation Request and no Lender shall be obliged to participation in any further Letter of Credit under this Agreement.

Appears in 2 contracts

Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)

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Further Letters of Credit. For so long as any of the circumstances described in sub-clauses 6.26. (a) 2.1 to 6.2(b) 6.2.2 above are in existence, the Borrower may not submit a Utilisation Request and no Lender shall be obliged to participation in any further Letter of Credit under this Agreement.

Appears in 2 contracts

Samples: $90,000,000 Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)

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Further Letters of Credit. For so long as any of the circumstances described in sub-clauses 6.26. (a) 2.1 to 6.2(b) 6.2.5 above are in existence, the Borrower may not submit a Utilisation Request and no Lender shall be obliged to participation in any further Letter of Credit under this Agreement.

Appears in 1 contract

Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)

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