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Common use of Issuance Clause in Contracts

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 3 contracts

Samples: Credit Agreement (Lincare Holdings Inc), Credit Agreement (Lincare Holdings Inc), Credit Agreement (Lincare Holdings Inc)

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Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of any Subsidiary as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share aggregate amount of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of FIVE MILLION DOLLARS ($5,000,000) at any time (the Revolving "LOC Committed Amount; and "), (iiiii) with regard to the Lenders collectively, the aggregate principal amount of Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of Obligations outstanding at any time shall not exceed such Lender's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (School Specialty Inc), Credit Agreement (School Specialty Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender having a Revolving Commitment severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Loans and Swingline Loans and plus LOC Obligations shall not at any time exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiiA) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary "evergreen" provisions pursuant to which the expiry date is automatically extended by a specific time period of one year or less unless the Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Jw Childs Equity Partners Ii Lp), Credit Agreement (Signal Medical Services)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender with a Revolving Commitment severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TWENTY MILLION DOLLARS ($60,000,00020,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans, Loans plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed the aggregate Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary "evergreen" provisions pursuant to which the expiry date is automatically extended by a specific time period unless the Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Apria Healthcare Group Inc), Credit Agreement (Apria Healthcare Group Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Lenders will participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars Bank to the Underlying Issuer from time to time of one or more L/C Undertakings with respect to Letters of Credit issued from time to time by the Underlying Issuer in Dollars from the Closing Date until the Maturity Date as the Borrower may request, in each case in a form acceptable to such the Issuing LenderBank; provided, -------- however, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any ------- time exceed TWENTY-FIVE MILLION DOLLARS ($25,000,000) (the "Letter of Credit Committed Amount") and (b) the sum of the aggregate principal amount of outstanding Revolving Loans plus Letter of Credit Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed AmountCredit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Notwithstanding anything to the contrary herein or otherwise, no Letter of Credit shall be issued to or for the benefit of CBII (or any Person in its capacity as a creditor of CBII) or to support, replace or supplement any obligation of CBII, except for those Letters of Credit set forth in Schedule 3.1 ------------ hereto.

Appears in 2 contracts

Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require (so long as such terms and in reliance upon conditions do not impose any financial obligation on or require any Lien (not otherwise contemplated by this Agreement) to be given by any member of the representations and warranties set forth hereinConsolidated Shorewood Group or conflict with any obligation of, each or detract from any action which may be taken by, either Borrower or their Subsidiaries under this Agreement), the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars shall from time to time upon request issue, in U.S. dollars, and the U.S. Lenders shall participate in, letters of credit (the "U.S. Letters of Credit") for the account of the U.S. Borrower or any of its Subsidiaries, from the Closing Effective Date until the Revolving Loans Maturity Date as the Borrower may requestDate, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of U.S. LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS $15,000,000 ($60,000,000) (the “LOC Committed Amount”U.S.); , (ii) the sum of the aggregate amount of U.S. LOC Obligations outstanding plus U.S. Revolving Loans outstanding plus Swing Line Loans outstanding shall not exceed the U.S. Revolving Loan Commitment, (iii) with regard respect to each individual U.S. Lender individually(other than NationsBank with respect to Swing Line Loans), such the U.S. Lender’s 's pro rata share of outstanding U.S. Revolving Loans and Swingline Loans and plus its pro rata share of outstanding U.S. LOC Obligations plus its pro rata share of Swing Line Loans, if any, shall not exceed such U.S. Lender’s 's Revolving Loan Commitment Percentage of the U.S. Revolving Committed Amount; Loan Commitment and (iiiiv) with regard to the Lenders collectively, the aggregate principal amount sum of U.S. Revolving Loans outstanding plus Canadian Revolving Loans, Swingline Loans and outstanding plus Swing Line Loans outstanding plus LOC Obligations outstanding plus BA Revolving Obligations outstanding shall not exceed the Revolving Committed Amount$225,000,000 (U.S.). No The issuance and expiry date of each U.S. Letter of Credit shall (x) be a Business Day. Except as otherwise expressly agreed upon by all the U.S. Lenders, no U.S. Letter of Credit shall have an original expiry date more than one year from the date of issuance or (y) as originally issued issuance, or as extended, shall have an expiry date extending beyond the date five (5) Business Days prior to the Revolving Loans Maturity Date. Each U.S. Letter of Credit shall be either (x) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of the U.S. Borrower or any of its Subsidiaries, or (y) a commercial letter of credit in respect of the purchase of goods or services by the U.S. Borrower or any of its Subsidiaries in the ordinary course of business. Each U.S. Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Shorewood Packaging Corp), Credit Agreement (Shorewood Packaging Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Existing Lenders will participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars Bank to the Underlying Issuer from time to time of one or more L/C Undertakings with respect to Letters of Credit issued from time to time by the Underlying Issuer in Dollars from the Original Closing Date until the Maturity Date as the Borrower CBI may request, in each case in a form acceptable to such the Issuing LenderBank; provided, however, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS thirty million Dollars ($60,000,00030,000,000) (the “LOC Letter of Credit Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiib) with regard to the Lenders collectively, sum of the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC plus Letter of Credit Obligations outstanding shall not at any time exceed the Revolving Committed AmountCredit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Notwithstanding anything to the contrary herein or otherwise, no Letter of Credit shall be issued to or for the benefit of CBII (or any Person in its capacity as a creditor of CBII) or to support, replace or supplement any obligation of CBII, except for those Letters of Credit set forth in Schedule 3.1 hereto.

Appears in 2 contracts

Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions relating to the Borrower which any the Issuing Lender may reasonably require (so long as such terms and conditions do not impose any financial obligation on or require any Lien (not otherwise contemplated by this Credit Agreement) to be given by any Credit Party or conflict with any obligation of, or detract from any action which may be taken by, the Borrower or its Subsidiaries under this Credit Agreement), the Issuing Lender agrees, in reliance upon the representations and warranties agreements of the other Lenders set forth hereinin this Section 2.3, each Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars from time to time upon request, in its reasonable discretion, to issue (from the Closing Date until to thirty days prior to the Maturity Date as the Borrower may request, and in a form reasonably acceptable to such the Issuing Lender), in Dollars, and the Participants shall participate in, Letters of Credit for the account of the Borrower; provided, however, that that, after giving effect to the issuance (or drawdown or extension) of any Letter of Credit, (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); Amount and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage (A) the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding LOC Obligations, plus (B) the aggregate amount of the Dollar Equivalent of Revolving LoansLoans outstanding, Swingline plus (C) the aggregate amount of Competitive Bid Loans and LOC Obligations outstanding, plus (D) the aggregate amount of Swing Line Loans outstanding shall not exceed the Revolving Committed Amount. No Amount and (iii) if any Participant shall be a Defaulting Lender at the time of issuance of any Letter of Credit, the amount of such Letter of Credit shall be reduced by the amount of such Participant’s Participation Interest in such Letter of Credit, unless otherwise agreed by the Issuing Lender in its sole discretion. The Issuing Lender may require the issuance and expiry date of each Letter of Credit to be a Business Day. Each Letter of Credit shall be a standby letter of credit issued to support the obligations (x) including pension or insurance obligations), contingent or otherwise, of the Borrower or any of its Subsidiaries. Except as otherwise expressly agreed upon by all the Participants, no Letter of Credit shall have an original expiry date more than one year from the date of issuance nor, as extended or (y) as originally issued or as extendedotherwise, shall have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date Borrower shall promptly examine a copy of each Letter of Credit shall be a Business Dayand each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will immediately notify the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the U.S. Revolving Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of the Company from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) the aggregate Dollar Amount of LOC Obligations outstanding shall not at any time exceed SIXTY TWO HUNDRED MILLION U.S. DOLLARS ($60,000,000U.S.$200,000,000) (the “LOC Committed Amount”); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount Dollar Amount (determined as of the most recent Determination Date) of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Aggregate Revolving Committed Amount, (iii) with regard to the U.S. Revolving Lenders collectively, the aggregate principal Dollar Amount (determined as of the most recent Determination Date) of the outstanding U.S. Revolving Loans plus outstanding U.S. Swingline Loans plus LOC Obligations shall not exceed the U.S. Revolving Committed Amount, (iv) all Letters of Credit shall be denominated in U.S. Dollars and (v) Letters of Credit shall be issued for lawful corporate purposes and may be issued as standby letters of credit, including in connection with workers’ compensation and other insurance programs, commercial letters of credit and trade letters of credit. No Except as otherwise expressly agreed upon by all the Lenders, no Letter of Credit shall (x) have an original expiry date more than one year twelve (12) months from the date of issuance; provided, however, so long as no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of Letters of Credit hereunder, the expiry dates of Letters of Credit may be extended annually or periodically from time to time on the request of the Company or by operation of the terms of the applicable Letter of Credit to a date not more than twelve (y12) months from the date of extension; provided, further, that no Letter of Credit, as originally issued or as extended, shall have an expiry date extending beyond the date which is five (5) Business Days prior to the Revolving/TLA Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Any Letters of Credit issued hereunder shall be in a minimum original face amount of U.S.$100,000 or such lesser amount as the Issuing Lender may agree. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the term and conditions hereof.

Appears in 2 contracts

Samples: Credit Agreement (Rock-Tenn CO), Credit Agreement (Rock-Tenn CO)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require (so long as such terms and in reliance upon conditions do not impose any financial obligation on or require any Lien (not otherwise contemplated by this Credit Agreement) to be given by any Credit Party or conflict with any obligation of, or detract from any action which may be taken by the representations and warranties set forth hereinCredit Parties or their Subsidiaries under this Credit Agreement), each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars shall from time to time upon request issue, in Dollars, and the LOC Participants shall participate in, letters of credit (the "Letters of Credit") for the account of a Credit Party or any of its Subsidiaries, from the Closing Initial Funding Date until the Maturity Date as the Borrower may requestDate, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY TWENTY FIVE MILLION DOLLARS ($60,000,00025,000,000) (the "LOC Committed Amount"); , (ii) the sum of the aggregate amount of LOC Obligations outstanding plus Revolving Loans outstanding plus Swing Line Loans outstanding shall not exceed the Revolving Committed Amount and (iii) with regard respect to each Lender individuallyindividual LOC Participant, such Lender’s the LOC Participant's pro rata share of outstanding Revolving Loans and Swingline Loans and plus its pro rata share of outstanding LOC Obligations plus its (other than the Swing Line Lender) pro rata share of outstanding Swing Line Loans shall not exceed such Lender’s LOC Participant's Revolving Loan Commitment Percentage of the Revolving Committed Amount; . The issuance and (iii) with regard to the Lenders collectively, the aggregate principal amount expiry date of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No each Letter of Credit shall (x) be a Business Day. Except as otherwise expressly agreed upon by all the LOC Participants, no Letter of Credit shall have an original expiry date more than one year from the date of issuance or (y) as originally issued issuance, or as extended, shall have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall be either (x) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of a Credit Party or any of its Subsidiaries, or (y) a commercial letter of credit in respect of the purchase of goods or services by a Credit Party or any of its Subsidiaries in the ordinary course of business; it being understood that any Letter of Credit issued on behalf of a Foreign Subsidiary must be permitted by the terms of Section 8.6. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Knoll Inc), Credit Agreement (Knoll Inc)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the a Borrower may requestrequest for its own account, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share aggregate amount of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of TWENTY-FIVE MILLION DOLLARS ($25,000,000) at any time (the Revolving "LOC Committed Amount; and "), (iiiii) with regard to the Lenders collectively, the aggregate principal amount of Revolving Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of the sum of Revolving Loans plus LOC Obligations plus Swingline Loans outstanding at any time shall not exceed such Lender's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC DocumentsDocuments and shall be a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of a Borrower. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Central Parking Corp), Credit Agreement (Central Parking Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Existing Lenders will participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars Bank to the Underlying Issuer from time to time of one or more L/C Undertakings with respect to Letters of Credit issued from time to time by the Underlying Issuer in Dollars from the Original Closing Date until the Maturity Date as the Borrower CBI may request, in each case in a form acceptable to such the Issuing LenderBank; provided, however, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS thirty million Dollars ($60,000,00030,000,000) (the “LOC "Letter of Credit Committed Amount”); (ii") with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiib) with regard to the Lenders collectively, sum of the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC plus Letter of Credit Obligations outstanding shall not at any time exceed the Revolving Committed AmountCredit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Notwithstanding anything to the contrary herein or otherwise, no Letter of Credit shall be issued to or for the benefit of CBII (or any Person in its capacity as a creditor of CBII) or to support, replace or supplement any obligation of CBII, except for those Letters of Credit set forth in Schedule 3.1 hereto.

Appears in 2 contracts

Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)

Issuance. The Issuing Lender has heretofore issued the Existing Letters of Credit. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each U.S. Lender and each Multicurrency Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in U.S. Dollars from time to time from during the Closing Date until the Maturity Date Commitment Period as the Borrower Company may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY ONE HUNDRED MILLION DOLLARS ($60,000,000100,000,000) (the "LOC Committed Amount”); ") and (ii) the aggregate Dollar Amount with regard respect to each Lender individually, such Lender’s share principal of outstanding U.S. Revolving Loans and plus outstanding Multicurrency Revolving Loans plus outstanding Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and plus all LOC Obligations shall not exceed the sum of the U.S. Revolving Committed Amount plus the Multicurrency Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (other than an Existing Letter of Credit) or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Revolving Credit Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Hercules Inc), Credit Agreement (Hercules Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the applicable Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such each Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the applicable Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans, Loans plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary "evergreen" provisions pursuant to which the expiry date is automatically extended by a specific time period unless the applicable Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Amn Healthcare Services Inc), Credit Agreement (Amn Healthcare Services Inc)

Issuance. Subject During the Commitment Period, subject to the terms and -------- conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of any Subsidiary as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the aggregate amount of LOC Obligations outstanding -------- shall not at any time exceed SIXTY TWO MILLION DOLLARS ($60,000,0002,000,000) at any time (the "LOC --- Committed Amount"); , (ii) with regard to the Lenders collectively, the aggregate ---------------- principal amount of Obligations outstanding at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender’s share 's Revolving Commitment Percentage of Obligations outstanding Revolving Loans and Swingline Loans and LOC Obligations at any time shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the 's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Navigant International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require (so long as such terms and in reliance upon conditions do not impose any financial obligation on or require any Lien not otherwise contemplated by this Agreement to be given by any Credit Party or conflict with any obligation of, or detract from any action which may be taken by, any Credit Party under this Agreement), the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars shall from time to time upon request issue, in U.S. dollars, and the U.S. Lenders shall participate in, letters of credit (the "U.S. Letters of Credit") for the account of the U.S. Borrowers or any of their U.S. Subsidiaries, from the Closing Effective Date until the Maturity Date as the Borrower may requestDate, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of U.S. LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS $3,000,000 ($60,000,000) (the “LOC Committed Amount”U.S.); , (ii) the sum of the aggregate amount of U.S. LOC Obligations outstanding plus U.S. Revolving Loans shall not exceed the lesser of the U.S. Borrowing Base and the U.S. Revolving Loan Commitment, (iii) with regard respect to each Lender individuallyindividual U.S. Lender, such the U.S. Lender’s 's pro rata share of outstanding U.S. Revolving Loans and Swingline Loans and plus its pro rata share of outstanding U.S. LOC Obligations shall not exceed such U.S. Lender’s 's Revolving Loan Commitment Percentage of the U.S. Revolving Committed Amount; Loan Commitment and (iiiiv) with regard to the Lenders collectively, sum of U.S. Revolving Loans outstanding plus Canadian Revolving Loans outstanding plus LOC Obligations outstanding plus the aggregate principal amount Face Amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations Bankers' Acceptances at any one time shall not exceed the Revolving Committed Amountlesser of the Total Borrowing Base and $40,000,000 (U.S.). No The issuance and expiry date of each U.S. Letter of Credit shall (x) be a Business Day. Except as otherwise expressly agreed upon by all the U.S. Lenders, no U.S. Letter of Credit shall have an original expiry date more than one year from the date of issuance or (y) as originally issued issuance, or as extended, shall have an expiry date extending beyond the date five (5) Business Days Maturity Date, except that prior to the Maturity Date a U.S. Letter of Credit may be issued or extended with an expiry date extending beyond the Maturity Date, if and to the extent that the U.S. Borrowers shall provide cash collateral to the Issuing Lender on the Maturity Date in an amount equal to the maximum amount available to be drawn under such U.S. Letter of Credit and the Required Lenders or the Issuing Lender shall not otherwise object. Each U.S. Letter of Credit shall be either (x) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of a U.S. Borrower or any of its U.S. Subsidiaries, or (y) a commercial letter of credit in respect of the purchase of goods or services by a U.S. Borrower or any of its U.S. Subsidiaries in the ordinary course of business. Each U.S. Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Cott Corp /Cn/)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, Documents and any other terms and conditions which any the Issuing Lender may reasonably require require, and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date or such earlier date as the LOC Commitment shall have been terminated as provided herein as the Borrower may request, in a form acceptable to such the Issuing LenderLender in its reasonable determination; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); Amount and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and plus LOC Obligations outstanding shall not at any time exceed the Revolving aggregate Committed Amount. No Letter of Credit shall (x) have an original expiry expiration date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry expiration date extending beyond the date five thirty (530) Business Days days prior to the Maturity DateDate or (z) be issued in a face amount of less than $250,000.00. Each Letter of Credit shall comply with the its related LOC Documents. The issuance date and expiration dates of each Letter of Credit shall be a Business Day. The parties hereto agree that in the event of any conflict, variation or inconsistency between any of the provisions hereof and of the LOC Documents and any other terms and conditions which the Issuing Lender may reasonably require, then the provisions of this Agreement shall control, govern, supersede, and prevail in all respects.

Appears in 1 contract

Samples: Credit Agreement (Hines Real Estate Investment Trust Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars shall from time to time upon request issue (from the Closing Effective Date until to the Revolving Loan Maturity Date as the Borrower may request, and in a form reasonably acceptable to such the Issuing Lender), in Dollars, and the LOC Participants shall participate in, Letters of Credit for the account of a Credit Party; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) (the "LOC Committed Amount"); , (ii) the sum of the aggregate amount of LOC Obligations outstanding plus Revolving Loans outstanding shall not exceed the Revolving Committed Amount and (iii) with regard respect to each Lender individuallyindividual LOC Participant, such Lender’s the LOC Participant's pro rata share of outstanding Revolving Loans and Swingline Loans and plus its pro rata share of outstanding LOC Obligations shall not exceed such Lender’s LOC Participant's Revolving Loan Commitment Percentage of the Revolving Committed Amount; . The Issuing Lender may require the issuance and (iii) with regard expiry date of each Letter of Credit to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amountbe a Business Day. No Each Letter of Credit shall be either (xi) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of a Credit Party or any of its Subsidiaries or (ii) a commercial letter of credit in respect of the purchase of goods or services by a Credit Party in the ordinary course of business. Except as otherwise expressly agreed upon by all the LOC Participants, no Letter of Credit shall have an original expiry date more than one year from the date of issuance or (y) as originally issued issuance, or as extended, shall have an expiry date extending beyond the date five (5) Business Days prior to the Revolving Loan Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Davel Communications Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC DocumentsAgreement, if anyRevolving Credit Agent and Revolving Lenders agree to incur, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars from time to time from prior to the Closing Date until Commitment Termination Date, upon the Maturity Date request of Borrower on behalf of Borrower and for Borrower's account, Letter of Credit Obligations by causing Letters of Credit to be issued by Revolving Credit Agent or an Affiliate thereof (in such capacity, herein referred to as the Borrower may request, in a form acceptable to "L/C Issuer") for Borrower's account. The aggregate amount of all such Issuing Lender; provided, however, that (i) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS the lesser of (i) Twenty-Five Million Dollars ($60,000,00025,000,000) (the “LOC Committed Amount”); "L/C Sublimit") and (ii) with regard to each Lender individually, such Lender’s share of the Maximum Amount less the aggregate outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage principal balance of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed AmountLoan. No such Letter of Credit shall (x) have an original expiry date that is more than one year from following the date of issuance thereof, other than the back to back Letters of Credit issued on the Closing Date, unless otherwise agreed by both Agents, in their sole discretion, and neither Revolving Credit Agent nor Revolving Lenders shall be under any obligation to incur Letter of Credit Obligations in respect of, or (y) as originally issued or as extendedpurchase risk participations in, have any Letter of Credit having an expiry date extending beyond that is later than the date five (5) Business Days prior to the Maturity Commitment Termination Date. Each ; provided that a Letter of Credit shall comply with may contain provisions whereby its expiration is automatically extended for an additional one year period unless the related LOC Documents. The issuance date of each L/C Issuer provides notice to the beneficiary thereof that the Letter of Credit will not be so extended; provided further, any such automatic extension of such expiration period shall never be a Business Dayextended beyond April 2, 2009.

Appears in 1 contract

Samples: Credit Agreement (Darling International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date five (5) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans, Loans plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Modtech Holdings Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Initial Funding Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY FIVE MILLION DOLLARS ($60,000,0005,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Loans and Swingline Loans and plus LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary "evergreen" provisions pursuant to which the expiry date is automatically extended by a specific time period unless the Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (American Medical Systems Holdings Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Revolving Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of the Borrower from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of Revolving LOC Obligations outstanding shall not at any time exceed SIXTY ONE HUNDRED MILLION DOLLARS ($60,000,000100,000,000) (the “Revolving LOC Committed Amount”); , (ii) with regard to each Revolving Lender individually, the sum of such Revolving Lender’s share Revolving Commitment Percentage of the aggregate principal amount of outstanding Revolving Loans and plus outstanding Swingline Loans and plus outstanding Revolving LOC Obligations shall not exceed such Revolving Lender’s Commitment Percentage of the Revolving Committed Amount; and Commitment, (iii) with regard to the Revolving Lenders collectively, the sum of the aggregate principal amount of outstanding Revolving Loans, Loans plus outstanding Swingline Loans and plus outstanding Revolving LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall Amount then in effect, (xiv) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter all Revolving Letters of Credit shall be denominated in Dollars or a Business Day.Letter of Credit Foreign Currency, (v) the aggregate principal amount of outstanding Revolving Loans denominated in a Foreign Currency, together with the outstanding LOC Obligations with respect to Letters of Credit denominated in a Foreign Currency, shall not exceed the Foreign Currency Sublimit and

Appears in 1 contract

Samples: Credit Agreement (Gencorp Inc)

Issuance. Subject to the terms and conditions hereof and of the -------- LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, issue Letters of Credit from time to time and each Lender severally agrees to the Lenders will participate in the issuance by such the Issuing Lender of, standby from time to time of such Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date Termination Date, all as the Borrower may request, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall -------- ------- not at any time exceed SIXTY THIRTY MILLION DOLLARS ($60,000,00030,000,000) (the "LOC --- Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of ---------------- outstanding Revolving Loans, Loans plus the aggregate principal amount of ---- outstanding Swingline Loans and plus LOC Obligations outstanding shall not ---- exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Dyson Kissner Moran Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); Amount and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus LOC Obligations outstanding plus Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Resortquest International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Lenders will participate in the issuance by the Issuing Bank from time to time of such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower Borrowers may request, in a form acceptable to such the Issuing LenderBank; provided, however, that (ia) the LOC Letter of Credit -------- ------- Obligations outstanding shall not at any time exceed SIXTY SEVEN MILLION DOLLARS ($60,000,0007,000,000) (the “LOC "Letter of Credit Committed Amount”); ") and (iib) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the --------------------------------- aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC plus Letter of Credit ---- Obligations outstanding shall not at any time exceed the lesser of (i) the Revolving Credit Committed AmountAmount and (ii) the Revolving Credit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject During the Commitment Period, subject to the terms and -------- conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of another Credit Party as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the aggregate -------- amount of LOC Obligations outstanding shall not at any time exceed SIXTY FIVE MILLION DOLLARS ($60,000,0005,000,000) at any time (the "LOC Committed Amount"); , (ii) with regard to each Lender individuallythe Revolving Lenders -------------------- collectively, such Lender’s share the aggregate principal amount of Revolving Obligations outstanding Revolving Loans and Swingline Loans and LOC Obligations at any time shall not exceed such Lender’s Commitment Percentage of the Aggregate Revolving Committed Amount; , and (iii) with regard to the Lenders collectivelyeach Revolving Lender individually, the aggregate principal amount such Revolving Lender's Revolving Commitment Percentage of Revolving Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the such Revolving Committed AmountLender's Revolving Commitment. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Access Worldwide Communications Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; providedPROVIDED, howeverHOWEVER, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY THREE MILLION DOLLARS ($60,000,0003,000,000) (the "LOC Committed Amount”); COMMITTED AMOUNT") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and PLUS LOC Obligations outstanding shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) unless otherwise agreed by the Agent, have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Simonds Industries Inc)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of another Credit Party as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY THIRTY MILLION DOLLARS ($60,000,00030,000,000) at any time (the "LOC Committed Amount"); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of Revolving Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the Aggregate Revolving Committed Amount, and (iii) with regard to each Revolving Lender individually, such Revolving Lender's Revolving Commitment Percentage of Revolving Obligations outstanding at any time shall not exceed such Revolving Lender's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (C&d Technologies Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and provided that no Default or Event of Default shall have occured and be continuing, and further subject to any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Revolving Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of a Credit Party from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY FIFTY MILLION DOLLARS ($60,000,00050,000,000) the (the “"LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding the aggregate amount of Revolving Loans and Swingline Loans and plus the aggregate amount of LOC Obligations plus the aggregate amount of Swing Line Loans shall not at any time exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, extended shall have an expiry date extending beyond the date five (5) Business Days Revolving Termination Date, except that prior to the Maturity DateRevolving Termination Date a Letter of Credit may be issued or extended with an expiry date extending beyond the Revolving Termination Date if, and to the extent that the Borrower shall provide cash collateral to the Issuing Lender on the date of issuance or extension in an amount equal to the maximum amount available to be drawn under such Letter of Credit. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. In the case of a conflict in the terms of the LOC Documents and this Credit Agreement, the terms of this Credit Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY FIVE MILLION DOLLARS ($60,000,0005,000,000) (the “LOC Committed Amount”); ) and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and plus LOC Obligations outstanding shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Benihana Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Lenders will participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars Bank to the Underlying Issuer from time to time of one or more L/C Undertakings with respect to Letters of Credit issued from time to time by the Underlying Issuer in Dollars from the Closing Date until the Maturity Date as the Borrower may request, in each case in a form acceptable to such the Issuing LenderBank; provided, however, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY TWENTY-FIVE MILLION DOLLARS ($60,000,00025,000,000) (the “LOC "Letter of Credit Committed Amount”); (ii") with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiib) with regard to the Lenders collectively, sum of the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC plus Letter of Credit Obligations outstanding shall not at any time exceed the Revolving Committed AmountCredit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Notwithstanding anything to the contrary herein or otherwise, no Letter of Credit shall be issued to or for the benefit of CBII (or any Person in its capacity as a creditor of CBII) or to support, replace or supplement any obligation of CBII, except for those Letters of Credit set forth in SCHEDULE 3.1 hereto.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Lenders will participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars Bank to the Underlying Issuer from time to time of one or more L/C Undertakings with respect to Letters of Credit issued from time to time by the Underlying Issuer in Dollars from the Original Closing Date until the Maturity Date as the Borrower may request, in each case in a form acceptable to such the Issuing LenderBank; provided, however, that (ia) the LOC Letter of Credit Obligations outstanding shall -------- ------- not at any time exceed THIRTY MILLION DOLLARS ($30,000,000) (the "Letter of Credit Committed Amount") and (b) the sum of the aggregate principal amount of outstanding Revolving Loans plus Letter of Credit Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed AmountCredit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day.Business

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing the Lender may reasonably require (so long as such terms and in reliance upon the representations and warranties set forth herein, each Issuing Lender agrees conditions do not impose any financial obligation on or require any Lien (not otherwise contemplated by this Agreement) to issue, and each Lender severally agrees to participate in the issuance be given by such Issuing Lender any Credit Party or conflict with any obligation of, standby Letters or detract from any action which may be taken by, any Credit Party or their Subsidiaries under this Agreement), Lender shall issue letters of Credit in Dollars from time to time credit (the "LETTERS OF CREDIT") for the account of the Borrower or any of its Subsidiaries, from the Closing Effective Date until the Revolving Loan Maturity Date as the Borrower may request, in a form acceptable to such Issuing LenderDate; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS One Million and No/100 Dollars ($60,000,000) (the “LOC Committed Amount”1,000,000); , and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and the aggregate amount of LOC Obligations shall not exceed such Lender’s Commitment Percentage of outstanding plus the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of Loan outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No The issuance and expiry date of each Letter of Credit shall (x) be a Business Day. Except as otherwise expressly permitted by the Lender, no Letter of Credit shall have an original expiry date more than one year from the date of issuance or (y) as originally issued issuance, or as extended, shall have an expiry date extending beyond the date five (5) Business Days prior to the Revolving Loan Maturity Date. Each Letter of Credit shall be either (x) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of the Borrower or any of its Subsidiaries, or (y) a commercial letter of credit in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries in the ordinary course of business. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Summit Holding Southeast Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of the Borrower from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) (A) the aggregate amount of all LOC Obligations outstanding with respect to Financial Letters of Credit shall not at any time exceed SIXTY ONE HUNDRED MILLION DOLLARS ($60,000,000100,000,000) and (B) the aggregate amount of all LOC Obligations (including Performance Letters of Credit and all other Letters of Credit) shall not at any time exceed THREE HUNDRED MILLION DOLLARS ($300,000,000) (as increased from time to time as provided in Section 2.1(f) and as such aggregate maximum amount may be reduced from time to time as provided in Section 2.6, the “LOC Committed Amount”); , (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus outstanding Swingline Loans and plus outstanding LOC Obligations shall not at any time exceed the Revolving Committed AmountAmount then in effect, (iii) all Letters of Credit shall be denominated in Dollars or, subject to Section 2.3(j), in a Foreign Currency and (iv) Letters of Credit shall be issued for any lawful corporate purposes and shall be issued as standby letters of credit, including in connection with workers’ compensation and other insurance programs. No If requested by the Issuing Lender, the Borrower shall submit a letter of credit application on such Issuing Lender’s standard form in connection with any request for a Letter of Credit. Except as otherwise expressly agreed upon by all the Revolving Lenders, no Letter of Credit shall (x) have an original expiry date more than one year eighteen (18) months from the date of issuance; provided, however, so long as no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of Letters of Credit hereunder, the expiry dates of Letters of Credit may be extended annually or periodically from time to time on the request of the Borrower or by operation of the terms of the applicable Letter of Credit to a date not more than eighteen (y18) as originally issued or as extendedmonths from the date of extension; provided, have further, that for any Letter of Credit with an expiry date extending beyond the date five (5) Business Days Maturity Date, the Borrower shall provide cash collateral for the benefit of the applicable Issuing Lender on or prior to the date of issuance or renewal (or, if applicable, the date the Maturity DateDate moves inside the date of expiry) in an amount as shall be agreed to by the Borrower and the Issuing Lender and pursuant to documentation satisfactory to such Issuing Lender. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Each Letter of Credit issued hereunder shall be in a minimum original face amount of $50,000 or such lesser amount as approved by the Issuing Lender. The Issuing Lender shall be under no obligation to issue any Letter of Credit if (i) any Lender is at such time a Defaulting Lender and the reallocation described in Section 2.21(a)(iv) cannot be completely effected, unless the Issuing Lender has entered into arrangements satisfactory to the Issuing Lender with the Borrower or such Lender to eliminate the Issuing Lender’s risk with respect to such Lender’s LOC Obligations, or (ii) in the case of each of Xxxxx Fargo, Bank of America, N.A. and JPMorgan Chase Bank, N.A., after giving effect to such Letter of Credit, the aggregate LOC Obligations in respect of all Letters of Credit issued by such Issuing Lender shall exceed $100,000,000. The Borrower’s Reimbursement Obligations in respect of each Existing Letter of Credit, and each Revolving Lender’s participation obligations in connection therewith, shall be governed by the terms of this Credit Agreement. The Existing Letters of Credit shall, as of the Closing Date, be deemed to have been issued as Letters of Credit hereunder and subject to and governed by the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Osi Systems Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Effective Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); Amount and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus LOC Obligations outstanding plus Swingline Loans and LOC Obligations shall not at any time exceed the lesser of (A) the Revolving Committed AmountAmount and (B) the Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Pluma Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Effective Date until the date five (5) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; providedPROVIDED, howeverHOWEVER, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY EIGHT MILLION DOLLARS ($60,000,0008,000,000) (the "LOC Committed Amount”); COMMITTED AMOUNT") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and PLUS LOC Obligations outstanding shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Insight Health Services Corp)

Issuance. Subject to Each Issuer hereby agrees, on the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth hereinin this Agreement, to issue standby and documentary letters of credit denominated in Agreed Currencies (each Issuing Lender agrees a “Letter of Credit”) and to issuerenew, and each Lender severally agrees to participate in the issuance by such Issuing Lender ofextend, standby increase, decrease or otherwise modify Letters of Credit in Dollars (“Modify,” and each such action a “Modification”) from time to time from the Closing Second Restatement Date until to the Maturity Facility Termination Date as upon the Borrower may requestrequest of a Borrower; provided that immediately after any Letter of Credit is issued or Modified, in a form acceptable to such Issuing Lender; provided, however, that (i) the LOC Obligations outstanding Aggregate Outstanding Credit Exposure shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); Aggregate Commitment, (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations the LC Exposure shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; $100,000,000 and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Multicurrency Loans, Swingline Loans Exposure not denominated in Dollars and LOC Obligations LC Exposure not denominated in Dollars shall not exceed the Revolving Committed Amount$100,000,000. No Letter of Credit shall have an expiry date after the earlier of (x) have an original expiry five Business Days prior to the scheduled Facility Termination Date (unless such Letter of Credit is cash collateralized, on terms satisfactory to the applicable Issuer) and (y) the date more than that is one year from after the date of issuance or thereof (y) as originally issued or as extended, have an expiry date extending provided that any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods not to extend beyond the date five (5) Business Days prior to the Maturity scheduled Facility Termination Date. Each ) (or if such Letter of Credit shall comply with is cash collateralized, on terms satisfactory to the related LOC Documents. The issuance applicable Issuer, the date of each Letter of Credit shall be a Business Dayone year after such date).

Appears in 1 contract

Samples: Long Term Credit Agreement (Bemis Co Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender Lxxxxx agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); , (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, plus the aggregate principal amount of outstanding Swingline Loans plus the LOC Obligations shall not at any time exceed the Revolving Committed Amount or the Borrowing Base Amount for such date, (iii) the sum of the aggregate principal amount of the outstanding Revolving Loans, plus the aggregate principal amount of the outstanding Bridge Loans, plus the aggregate principal amount of the outstanding Swingline Loans and Loans, plus the LOC Obligations shall not exceed the Revolving Total Committed AmountAmount and (iv) there may be no more than five (5) Letters of Credit outstanding at any one time. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (CNL American Properties Fund Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TWO MILLION DOLLARS ($60,000,0002,000,000) (the “LOC Committed Amount”); ) and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Loans and plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed such Lender’s Commitment Percentage the lesser of (A) the Revolving Committed Amount; Amount and (iiiB) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed AmountBorrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary “evergreen” provisions pursuant to which the expiry date is automatically extended by a specific time period unless the Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Healthtronics Surgical Services Inc)

Issuance. Subject In reliance upon the agreement of the Banks set forth in this Section 2.5 and subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender Bank agrees from time to issue, and each Lender severally agrees time to participate in the issuance by such Issuing Lender of, standby issue Letters of Credit in US Dollars from time to time from or Available Foreign Currency during the Closing Date until the Maturity Date Revolving Credit Loan Commitment Period as the Borrower may request, in a form acceptable to such the Issuing LenderBank; provided, however, that (i) the aggregate principal amount of LOC Obligations outstanding shall not at any time exceed SIXTY FIFTEEN MILLION DOLLARS ($60,000,00015,000,000) (as such amount may be reduced from time to time in accordance with the provisions hereof, the "LOC Committed Amount"); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of Obligations outstanding shall not at any time exceed the Aggregate Revolving LoansCredit Commitment, Swingline Loans (iii) the aggregate principal amount of Foreign Currency Obligations outstanding shall not at any time exceed the Aggregate Foreign Currency Commitment and LOC (iv) each Bank's Ratable Share of the aggregate principal amount of Foreign Currency Obligations outstanding at any time shall not exceed such Bank's Ratable Share of the Revolving Committed AmountAggregate Foreign Currency Commitment. No Except as otherwise expressly agreed upon by all the Banks, no Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) issuance; provided, further, that no Letter of Credit, as originally issued or as extended, shall have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Watson Wyatt & Co Holdings)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender Bank severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars and in Available Foreign Currencies from time to time from the Closing Date until the date five (5) Business Days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the aggregate Dollar Amount of LOC Obligations outstanding shall not at any time exceed SIXTY FIFTY MILLION DOLLARS ($60,000,00050,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus the aggregate principal amount of outstanding Competitive Loans plus the aggregate principal amount of outstanding Swingline Loans and plus the Dollar Amount of the aggregate outstanding principal amount of Foreign Currency Loans plus the Dollar Amount of LOC Obligations outstanding shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Westpoint Stevens Inc)

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Issuance. Subject to the terms and conditions hereof and of the -------- LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC -------- ------- Obligations outstanding shall not at any time exceed SIXTY ONE MILLION DOLLARS ($60,000,0001,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate -------------------- principal amount of outstanding Revolving Loans, Swingline Loans and plus LOC Obligations ---- outstanding shall not at any time exceed the lesser of (A) the Revolving Committed AmountAmount and (B) the Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Engineered Support Systems Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of the Borrower from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) (A) the aggregate amount of all LOC Obligations outstanding with respect to Financial Letters of Credit shall not at any time exceed SIXTY ONE HUNDRED MILLION DOLLARS ($60,000,000100,000,000) and (B) the aggregate amount of all LOC Obligations (including Performance Letters of Credit and all other Letters of Credit) shall not at any time exceed THREE HUNDRED MILLION DOLLARS ($300,000,000) (as increased from time to time as provided in Section 2.1(f) and as such aggregate maximum amount may be reduced from time to time as provided in Section 2.6, the “LOC Committed Amount”); , (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus outstanding Swingline Loans and plus outstanding LOC Obligations shall not at any time exceed the Revolving Committed AmountAmount then in effect, (iii) all Letters of Credit shall be denominated in Dollars or, subject to Section 2.3(j), in a Foreign Currency and (iv) Letters of Credit shall be issued for any lawful corporate purposes and shall be issued as standby letters of credit, including in connection with workers’ compensation and other insurance programs. No If requested by the Issuing Lender, the Borrower shall submit a letter of credit application on such Issuing Lender’s standard form in connection with any request for a Letter of Credit. Except as otherwise expressly agreed upon by all the Revolving Lenders, no Letter of Credit shall (x) have an original expiry date more than one year eighteen (18) months from the date of issuance; provided, however, so long as no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of Letters of Credit hereunder, the expiry dates of Letters of Credit may be extended annually or periodically from time to time on the request of the Borrower or by operation of the terms of the applicable Letter of Credit to a date not more than eighteen (y18) as originally issued or as extendedmonths from the date of extension; provided, have further, that for any Letter of Credit with an expiry date extending beyond the date five (5) Business Days Maturity Date, the Borrower shall provide cash collateral for the benefit of the applicable Issuing Lender on or prior to the Maturity Datedate of issuance or renewal in an amount as shall be agreed to by the Borrower and the Issuing Lender and pursuant to documentation satisfactory to such Issuing Lender. Each Letter of Credit shall comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Each Letter of Credit issued hereunder shall be in a minimum original face amount of $50,000 or such lesser amount as approved by the Issuing Lender. The Issuing Lender shall be under no obligation to issue any Letter of Credit if (i) any Lender is at such time a Defaulting Lender and the reallocation described in Section 2.21(a)(iv) cannot be completely effected, unless the Issuing Lender has entered into arrangements satisfactory to the Issuing Lender with the Borrower or such Lender to eliminate the Issuing Lender’s risk with respect to such Lender’s LOC Obligations, or (ii) in the case of each of Xxxxx Fargo, Bank of America, N.A. and JPMorgan Chase Bank, N.A., after giving effect to such Letter of Credit, the aggregate LOC Obligations in respect of all Letters of Credit issued by such Issuing Lender shall exceed $100,000,000. The Borrower’s Reimbursement Obligations in respect of each Existing Letter of Credit, and each Revolving Lender’s participation obligations in connection therewith, shall be governed by the terms of this Credit Agreement. The Existing Letters of Credit shall, as of the Closing Date, be deemed to have been issued as Letters of Credit hereunder and subject to and governed by the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Osi Systems Inc)

Issuance. Subject to the terms and conditions hereof and of the -------- LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the a Borrower may request, in a written form acceptable to the Issuing Lender (such Issuing Lenderform must be signed by a Responsible Officer and must include a representation and warranty of the correctness of the matters specified in subsections (b), (c), (d), (f) and (g) of Sections 5.2); provided, however, that (i) the LOC Obligations outstanding -------- ------- shall not at any time exceed SIXTY TWENTY MILLION DOLLARS ($60,000,00020,000,000) (the "LOC --- Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of ---------------- outstanding Revolving Loans, Loans plus the aggregate principal amount of ---- outstanding Competitive Loans plus the aggregate principal amount of ---- outstanding Swingline Loans and plus LOC Obligations outstanding shall not at ---- any time exceed the aggregate Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Realty LTD Partnership)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the a Borrower may request, in a written form acceptable to the Issuing Lender (such Issuing Lenderform must be signed by a Responsible Officer and must include a representation and warranty of the correctness of the matters specified in subsections (b), (c), (d), (e) and (f) of Sections 5.2); provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY THIRTY MILLION DOLLARS ($60,000,00030,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus the aggregate principal amount of outstanding Competitive Loans plus the aggregate principal amount of outstanding Swingline Loans and plus LOC Obligations outstanding shall not at any time exceed the aggregate Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Properties Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, during the representations and warranties set forth herein, each Commitment Period the Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by such Issuing Lender ofin, standby Letters of Credit in Dollars for the account of the U.S. Borrowers from time to time from the Closing Date until the Maturity Date as the Borrower may request, upon request in a form acceptable to such the Issuing Lender; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) (the "LOC Committed Amount"); , (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding the aggregate amount of U.S. Revolving Loans and plus the Dollar Equivalent of U.K. Revolving Loans plus Swingline Loans and plus LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount, (iii) all Letters of Credit shall be denominated in Dollars and (iv) Letters of Credit shall be issued for the purpose of supporting tax-advantaged variable rate demand note financing and for other lawful corporate purposes and may be issued as standby letters of credit, including in connection with workers' compensation and other insurance programs, and trade letters of credit. No Except as otherwise expressly agreed upon by all the Lenders, no Letter of Credit shall (x) have an original expiry date more than one year twelve (12) months from the date of issuance or (y) later than March 21, 2004; provided, however, so long as originally issued no Default or as extended, have an expiry date extending beyond the date five (5) Business Days prior Event of Default has occurred and is continuing and subject to the Maturity Date. Each Letter other terms and conditions to the issuance of Letters of Credit shall comply with hereunder, the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.expiry dates of

Appears in 1 contract

Samples: Credit Agreement (Racing Champions Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the applicable Issuing Lender agrees to issue, and each Revolving Lender severally agrees to participate in the issuance by such each Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the applicable Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY THIRTY MILLION DOLLARS ($60,000,00030,000,000) (the “LOC Committed Amount”); ) and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage ii)the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans, Loans plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary “evergreen” provisions pursuant to which the expiry date is automatically extended by a specific time period unless the applicable Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Amn Healthcare Services Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the applicable Issuing Lender agrees to issue, and each Revolving Lender severally agrees to participate in the issuance by such each Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the applicable Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY FIFTEEN MILLION DOLLARS ($60,000,00015,000,000) (the “LOC Committed Amount”); ) and (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage the sum of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate outstanding principal amount of outstanding Revolving Loans, Loans plus LOC Obligations plus Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (provided that any such Letter of Credit may contain customary “evergreen” provisions pursuant to which the expiry date is automatically extended by a specific time period unless the applicable Issuing Lender gives notice to the beneficiary of such Letter of Credit at least a specified time period prior to the expiry date then in effect) or (y) as originally issued or as extended, have an expiry date extending beyond the date five thirty (530) Business Days days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Amn Healthcare Services Inc)

Issuance. The Issuing Lender has heretofore issued the Existing Letters of Credit. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from during the Closing Date until the Maturity Date Commitment Period as the Borrower Company may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY ONE HUNDRED MILLION DOLLARS ($60,000,000100,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Credit Loans and plus Swingline Loans and plus LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance (other than an Existing Letter of Credit) or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Hercules Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Lender severally agrees to Lenders will participate in the issuance by the Issuing Bank from time to time of such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower Borrowers may request, in a form acceptable to such the Issuing LenderBank; providedPROVIDED, howeverHOWEVER, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY SEVEN MILLION DOLLARS ($60,000,0007,000,000) (the “LOC Committed Amount”); (ii"LETTER OF CREDIT COMMITTED AMOUNT") with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiib) with regard to the Lenders collectively, sum of the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC PLUS Letter of Credit Obligations outstanding shall not at any time exceed the lesser of (i) the Revolving Credit Committed AmountAmount and (ii) the Revolving Credit Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of another Credit Party as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share aggregate amount of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of ONE MILLION DOLLARS ($1,000,000) at any time (the Revolving "LOC Committed Amount; and "), (iiiii) with regard to the Lenders collectively, the aggregate principal amount of Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the lesser of the Aggregate Revolving Committed AmountAmount or the Borrowing Base, and (iii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of Obligations outstanding at any time shall not exceed the lesser of such Lender's Revolving Committed Amount or such Lender's Revolving Commitment Percentage of the Borrowing Base. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Participation Agreement (Correctional Services Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any an Issuing Lender may reasonably require (so long as such terms and in reliance upon the representations and warranties set forth hereinconditions do not impose any financial obligation on or require any Lien (not otherwise contemplated by this Agreement) to be given by any Credit Party or conflict with any obligation of, each or detract from any action which may be taken by, any Credit Party or their Subsidiaries under this Agreement), an Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars shall from time to time upon request issue (from the Closing Effective Date until to the Revolving-A Loan Maturity Date as the Borrower may request, and in a form reasonably acceptable to such Issuing Lender), in Dollars or any Foreign Currency, and the LOC Participants shall participate in, letters of credit (the "Letters of Credit") for the account of the Borrower; provided, however, that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY the U.S. Dollar Equivalent of TWO HUNDRED FIFTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”250,000,000); , (ii) the sum of the aggregate amount of LOC Obligations outstanding in Foreign Currency plus the aggregate amount of Revolving-A Loans outstanding in Foreign Currency shall not exceed the U.S. Dollar Equivalent of One Hundred Million Dollars ($100,000,000), (iii) the sum of the aggregate amount of LOC Obligations outstanding plus the aggregate amount of Revolving-A Loans outstanding plus Swing Line Loans outstanding shall not exceed the Revolving-A Committed Amount and (iv) with regard respect to each Lender individuallyindividual LOC Participant, such Lender’s the LOC Participant's pro rata share of outstanding Revolving Revolving-A Loans and Swingline Loans and plus its pro rata share of outstanding LOC Obligations plus (other than NationsBank) its pro rata share of Swing Line Loans outstanding shall not exceed such Lender’s LOC Participant's Revolving Loan Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Revolving-A Committed Amount. No The Issuing Lender may require the issuance and expiry date of each Letter of Credit to be a day other than (i) a Saturday or a Sunday or (ii) any other day on which the letter of credit issuing office of the Issuing Lender is authorized or required by law or executive order to close. Except as otherwise expressly agreed upon by all the LOC Participants, no Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or issuance, or, as extended, shall have an expiry date extending beyond the date five (5) Business Days prior to the Revolving-A Loan Maturity Date. Each Letter of Credit shall be either (x) a standby letter of credit issued to support the obligations (including pension or insurance obligations), contingent or otherwise, of the Borrower or any of its Subsidiaries, or (y) a commercial letter of credit in respect of the purchase of goods or services by the Borrower or any of its Subsidiaries in the ordinary course of business. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Fruit of the Loom Inc /De/)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby of Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TWENTY-FIVE MILLION DOLLARS ($60,000,00025,000,000) (the "LOC Committed Amount"); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding the Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the lesser of (A) the Revolving Committed Amount and (B) the Borrowing Base less the outstanding Term Loan less LOC Obligations outstanding and (iii) with regard to each Lender individually, the amount of the sum of the Revolving Loans plus LOC Obligations outstanding shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (M & M Properties Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TWENTY MILLION DOLLARS ($60,000,00020,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby of Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form reasonably acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); , (ii) with regard to the Lenders collectively, the sum of the aggregate outstanding principal amount of Revolving Obligations shall not exceed the Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender’s share 's Revolving Commitment Percentage of outstanding the sum of the Revolving Loans and plus LOC Obligations outstanding plus Swingline Loans and LOC Obligations outstanding shall not exceed such Lender’s 's Revolving Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit (1) shall comply with the related LOC DocumentsDocuments and (2) may be issued only for the purposes set forth in Section 6.14 hereof. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Tractor Supply Co /De/)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the date five (5) days prior to the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY FIVE MILLION DOLLARS ($60,000,0005,000,000.00) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding principal amount of Revolving Loans and Swingline Loans and plus LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Staff Leasing Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the date thirty (30) days prior to the Maturity Date as the a Borrower may request, in a written form acceptable to the Issuing Lender (such Issuing Lenderform must be signed by a Responsible Officer and must include a representation and warranty of the correctness of the matters specified in subsections (b), (c), (d), (f) and (g) of Sections 5.2); provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY TWENTY MILLION DOLLARS ($60,000,00020,000,000) (the “LOC Committed Amount”); ) and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans plus the aggregate principal amount of outstanding Swingline Loans and plus LOC Obligations outstanding shall not at any time exceed the aggregate Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Realty LTD Partnership)

Issuance. Subject to the terms and conditions hereof and of the LOC Letter of Credit Documents, if any, and any other terms and conditions which any the Issuing Lender Bank may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees LC 56 Lenders will participate to issue, and each Lender severally agrees to participate the extent of their respective Participation Interests in the issuance by the Issuing Bank from time to time of such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing LenderBank; providedPROVIDED, howeverHOWEVER, that (ia) the LOC Letter of Credit Obligations outstanding shall not at any time exceed SIXTY an amount (the "LETTER OF CREDIT COMMITTED AMOUNT") equal to THIRTY-FIVE MILLION DOLLARS ($60,000,00035,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iiib) with regard to the Lenders collectively, sum of the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC PLUS the Letter of Credit Obligations shall not at any time exceed the lesser of (i) the Revolving Credit Committed AmountAmount and (ii) the Borrowing Base. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall comply with the related Letter of Credit Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. The Existing Letters of Credit shall be deemed to have been issued hereunder on the Closing Date, and no request for issuance thereof need be made.

Appears in 1 contract

Samples: Credit Agreement (National Equipment Services Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby of Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the LOC Committed Amount”); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of Revolving Loans outstanding Revolving Loans, plus LOC Obligations outstanding plus Swingline Loans and LOC Obligations outstanding shall not exceed the Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender's pro rata share of outstanding Revolving Loan plus such Lender's pro rata share of LOC Obligations outstanding plus (other than the Swingline Lender) such Lender's pro rata share of Swingline Loans outstanding shall not exceed such Lender's Revolving Commitment Percentage of the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit (1) shall comply with the related LOC DocumentsDocuments and (2) may be issued only for the purposes set forth in Section 6.14 hereof. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Unifi Inc)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of another Credit Party as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share aggregate amount of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of TWENTY MILLION DOLLARS ($20,000,000) at any time (the Revolving "LOC Committed Amount; and "), (iiiii) with regard to the Lenders collectively, the aggregate principal amount of Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the lesser of (A) the Aggregate Revolving Committed AmountAmount or (B) the Borrowing Base, and (iii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of Obligations outstanding at any time shall not exceed the lesser of (A) such Lender's Revolving Committed Amount or (B) such Lender's Revolving Commitment Percentage of the Borrowing Base. No Letter Letters of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.hereunder

Appears in 1 contract

Samples: Credit Agreement (Railworks Corp)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest (or have requested in the case of Closing Date Letters of Credit) for its own account or for the account of another Credit Party as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Lender individually, such Lender’s share aggregate amount of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of FIVE MILLION DOLLARS ($5,000,000) at any time (the Revolving "LOC Committed Amount; and "), (iiiii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Obligations under Revolving Loans, Swingline Loans and the LOC Obligations outstanding at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender's Revolving Commitment Percentage of Obligations under Revolving Loans and the LOC Obligations outstanding at any time shall not exceed such Lender's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Pca International Inc)

Issuance. Subject During the Commitment Period, subject to the terms and conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Revolving Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of any Subsidiary as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the aggregate amount of LOC Obligations outstanding shall not at any time exceed SIXTY TEN MILLION DOLLARS ($60,000,00010,000,000) at any time (the "LOC Committed Amount"); , (ii) with regard to each Lender individually, such Lender’s share of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of Revolving Obligations outstanding Revolving Loans, Swingline Loans and LOC Obligations at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Revolving Lender individually, such Revolving Lender's Revolving Commitment Percentage of Revolving Obligations outstanding at any time shall not exceed such Revolving Lender's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (School Specialty Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC DocumentsLetter of Credit Applications, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties agreements of the other Lenders with Revolving Commitments set forth hereinin this Section 2.02, each the Issuing Lender agrees to issue, and each Lender with a Revolving Commitment severally agrees to participate on the terms set forth in this Section 2.02 in the issuance by such the Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Revolving Loan Termination Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Revolving Committed Amount”); Amount at such time and (ii) with regard to each Lender individually, such Lender’s share the sum of the aggregate outstanding Revolving Loans and Swingline Loans and LOC Credit Facility Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance unless cash collateralized by cash deposits in a manner reasonably satisfactory to the Administrative Agent or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Revolving Loan Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall each be a Business Day. The Existing Letter of Credit shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.

Appears in 1 contract

Samples: Senior Credit Agreement (Compbenefits Corp)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby of Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; providedPROVIDED, howeverHOWEVER, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY FIFTEEN MILLION DOLLARS ($60,000,00015,000,000) (the "LOC Committed Amount”); COMMITTED AMOUNT") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Loans PLUS LOC Obligations outstanding PLUS outstanding Swingline Loans and LOC Obligations shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) except as otherwise agreed by the Agent, have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Tripoint Global Communications Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each the Issuing Lender agrees to issue, and each Lender severally agrees to participate in the issuance by such the Issuing Lender of, standby and trade Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may request, in a form acceptable to such the Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY SEVENTY-FIVE MILLION DOLLARS ($60,000,00075,000,000) (the "LOC Committed Amount”); ") and (ii) with regard to each Lender individually, such Lender’s share the sum of outstanding Revolving Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and plus LOC Obligations outstanding shall not at any time exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date and expiry dates of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Extendicare Health Services Inc)

Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which any Issuing Lender may reasonably require and in reliance upon the representations and warranties set forth herein, each Issuing Lender agrees to issue, and each Revolving Lender severally agrees to participate in the issuance by such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Initial Closing Date until the Maturity Letter of Credit Expiration Date as the Borrower may request, in a form acceptable to such Issuing Lender; provided, however, that (i) the LOC Obligations outstanding shall not at any time exceed SIXTY MILLION DOLLARS ($60,000,000) (the “LOC Committed Amount”); (ii) with regard to each Revolving Lender individually, such Lender’s share of outstanding Revolving Committed Loans and Swingline Loans and LOC Obligations shall not exceed such Lender’s Revolving Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Revolving Lenders collectively, the aggregate principal amount of outstanding Revolving Committed Loans, Swingline Loans and LOC Obligations shall not exceed the Revolving Committed Amount. No Letter of Credit shall (x) have an original expiry date more than one year from the date of issuance or (y) as originally issued or as extended, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Letter of Credit Expiration Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Lincare Holdings Inc)

Issuance. Subject During the Commitment Period, subject to the terms and -------- conditions hereof and of the LOC Documents, if any, and any such other terms and conditions which any the Issuing Lender may reasonably require and in reliance upon require, the representations and warranties set forth herein, each Issuing Lender agrees to shall issue, and each Lender severally agrees to the Lenders shall participate in the issuance by in, such Issuing Lender of, standby Letters of Credit in Dollars from time to time from the Closing Date until the Maturity Date as the Borrower may requestrequest for its own account or for the account of any Subsidiary as provided herein, in a form acceptable to such the Issuing Lender, for the purposes hereinafter set forth; provided, however, provided that (i) the aggregate amount of LOC Obligations outstanding -------- shall not at any time exceed SIXTY FIFTEEN MILLION DOLLARS ($60,000,00015,000,000) at any time (the "LOC --- Committed Amount"); , (ii) with regard to the Lenders collectively, the aggregate ---------------- principal amount of Obligations outstanding at any time shall not exceed the Aggregate Revolving Committed Amount and (iii) with regard to each Lender individually, such Lender’s share 's Revolving Commitment Percentage of Obligations outstanding Revolving Loans and Swingline Loans and LOC Obligations at any time shall not exceed such Lender’s Commitment Percentage of the Revolving Committed Amount; and (iii) with regard to the Lenders collectively, the aggregate principal amount of outstanding Revolving Loans, Swingline Loans and LOC Obligations shall not exceed the 's Revolving Committed Amount. No Letter Letters of Credit issued hereunder shall (x) not have an original expiry date more than one year from the date of issuance or (y) extension, nor an expiry date, whether as originally issued or as extendedby extension, have an expiry date extending beyond the date five (5) Business Days prior to the Maturity Termination Date. Each Letter of Credit shall comply with the related LOC Documents. The issuance date of each Letter of Credit shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Navigant International Inc)

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