Common use of L/C Commitment Clause in Contracts

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided, that such Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (Church & Dwight Co Inc /De/), Credit Agreement (Church & Dwight Co Inc /De/)

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L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the either Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such the relevant Issuing Lender; provided, provided that such Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 50,000 (unless otherwise agreed by such the relevant Issuing Lender) and (iii) expire no not later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (Interstate Bakeries Corp/De/), Credit Agreement (Interstate Bakeries Corp/De/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a3.10(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved agreed from time to time by such between the Issuing LenderLender and Borrower; provided, provided that such the Issuing Lender shall have no obligation to not issue any Letter of Credit if, (i) after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or Commitment, (ii) after giving effect to such issuance, the aggregate amount of the Available US$ Revolving Commitments would be less than zero, or (iii) it has received notice of any existing Default or Event of Default. Each Letter of Credit shall (i) be denominated in Dollars, and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) unless cash collateralized in an account at the Issuing Bank, the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (Protection One Alarm Monitoring Inc), Credit Agreement (Protection One Alarm Monitoring Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each -------------- the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of ---------- Credit") for the account of the Borrower on any Business Day during the US$ ------ Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to -------- issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or Commitment, (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zerozero or (iii) the sum of the then outstanding L/C Obligations, Revolving Loans and Swingline Loans would exceed the Borrowing Base then in effect. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 100,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 2 contracts

Samples: Credit Agreement (Lexar Media Inc), Guarantee and Collateral Agreement (Lexar Media Inc)

L/C Commitment. (a) Subject to the terms and conditions -------------------- hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters ------- of Credit") for the account of the Borrower on any Business Day during the US$ --------- Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to not issue any Letter -------- of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 500,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided -------- that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Time Warner Telecom Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the -------------- Issuing Lender, in reliance on the agreements of the other US$ Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters -------------- ------- of Credit") for the account of the Borrower on --------- any Business Day during prior to the US$ Revolving Commitment Period Credit Termination Date in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the -------- Issuing Lender shall have no obligation to issue any Letter of Credit if, if (i) after giving effect to such issuance, (iA) the L/C Obligations would exceed the L/C Commitment or (B) the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments or (ii) it has received notice from the aggregate amount Administrative Agent that the issuance of the Available US$ Revolving Commitments would be less than zerosuch Letter of Credit will violate clause (i) above. Each Letter of Credit shall (i) be denominated in Dollars, Dollars and ---------- (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is five 30 Business Days prior to the then scheduled Revolving Credit Termination Date, ; provided that any Letter of Credit -------- with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause ------ (y) above).. ---

Appears in 1 contract

Samples: Credit Agreement (Grubb & Ellis Co)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the -------------- Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") ----------------- for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to not issue any Letter of -------- Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 500,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided -------- that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Time Warner Telecom Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided, provided that such Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Church & Dwight Co Inc /De/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a3.11(a), agrees to issue standby letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 1,000,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Valassis Communications Inc)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be reasonably approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the sum of the L/C Obligations and the aggregate principal amount of all outstanding Revolving Loans, Swingline Loans and the Available US$ Magellan Reserve would exceed the Total Revolving Commitments would be less than zeroCommitments. Each Letter of Credit shall (i) be denominated in Dollars, Dollars and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Rem Arrowhead, Inc.)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Credit Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”"LETTERS OF CREDIT") for the account of the Borrower or any other Group Member on any Business Day during the US$ Revolving Credit Commitment Period commencing on the Issuing Lender Availability Date and in such form as may be approved from time to time by such Issuing Lender; providedPROVIDED, that such no Issuing Lender shall have no any obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Credit Commitments would be less than zero. Each Letter of Credit Domestic L/C shall (i) be denominated in Dollars, Dollars and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that which is five Business Days prior to the Revolving Credit Termination Date, provided ; PROVIDED that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).the

Appears in 1 contract

Samples: Credit Agreement (Capital Environmental Resource Inc)

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L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (National Financial Partners Corp)

L/C Commitment. (a) Subject a)Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided, provided that such Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations of such Issuing Lender would exceed the L/C Commitment of such Issuing Lender then in effect, or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, Dollars and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lenderexcept as provided in Section 3.1(b) and (iii) below, expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Colony Capital, Inc.)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided, provided that such no Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) unless otherwise agreed by the Administrative Agent and the relevant Issuing Lender, have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) 500,000 and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Charter Communications Inc /Mo/)

L/C Commitment. (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ a Revolving Commitment Period in such form as may be approved from time to time by such Issuing LenderLender (it being understood that any commercial Letter of Credit shall provide for sight drafts and not bankers acceptances); provided, provided that such no Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments (excluding Revolving A Commitments) would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, Dollars and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).- 82-

Appears in 1 contract

Samples: Credit Agreement (Cco Holdings LLC)

L/C Commitment. (a) Subject a)Subject to the terms and conditions hereof, each theeach Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such thesuch Issuing Lender; provided, provided that such thesuch Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations of such Issuing Lender would exceed the L/C Commitment of such Issuing Lender then in effect, or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, Dollars and (ii) have a face amount of at least $250,000 (unless otherwise agreed by such Issuing Lenderexcept as provided in Section 3.1(b) and (iii) below, expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Colony Financial, Inc.)

L/C Commitment. (a) Subject to the terms and conditions hereof, each the Issuing Lender, in reliance on the agreements of the other US$ Revolving Lenders set forth in Section 3.4(a3.8(a), agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the US$ Revolving Commitment Period in such form as may be approved from time to time by such the Issuing Lender; provided, provided that such the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available US$ Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars, (ii) have a face amount of at least $250,000 5,000 (unless otherwise agreed by such the Issuing Lender) and (iii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).

Appears in 1 contract

Samples: Credit Agreement (Del Frisco's Restaurant Group, LLC)

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