L/Cs Sample Clauses

L/Cs. Promptly following the acceleration of the maturity of the Revolving Notes pursuant to Section 8.2 or 8.3 hereof, the Borrower shall immediately pay to the Agent for the benefit of the Banks the full undrawn face amount of all then outstanding L/Cs. The Agent shall hold all such funds and proceeds thereof as additional collateral security for the obligations of the Borrower to the Banks under the Loan Documents. The amount paid under any L/C for which the Borrower has not reimbursed the Banks shall bear interest from the date of such payment at the default rate of interest specified in Section 1.3(c)(i) hereof.
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L/Cs. Promptly following the acceleration of the maturity of the Notes pursuant to Section 8.2 or 8.3 hereof, the Borrower shall immediately pay to the Administrative Agent for the benefit of the Banks the full aggregate amount of all outstanding L/Cs issued for the Borrower's account hereunder. The Administrative Agent shall hold all such funds and proceeds thereof as additional collateral security for the obligations of the Borrower to the Banks under the Loan Documents. The amount paid under any of the L/Cs for which the Borrower has not reimbursed the Banks shall bear interest from the date of such payment at the default rate of interest specified in Section 1.3(d)(i) hereof.
Sample 1
L/Cs. Promptly following the acceleration of the maturity of the Notes pursuant to Section 8.2 or 8.3 hereof, the Company shall immediately pay to the Agent for the benefit of the Banks the full aggregate amount of all outstanding L/Cs and the Bond L/C. The Agent shall hold all such funds and proceeds thereof as additional collateral security for the obligations of the Company to the Banks under the Loan Documents. The amount paid under any of the L/Cs or the Bond L/C for which the Company has not reimbursed the Banks shall bear interest from the date of such payment at the default rate of interest specified in Section 1.3(d) hereof." 1.12. The Credit Agreement shall be amended by adding the following provision thereto as Section 8.5:
Sample 1
L/Cs. Promptly following the acceleration of the maturity of the Notes pursuant to Section 8.2 or 8.3 hereof, the Borrowers shall immediately pay to the Administrative Agent for the benefit of the Banks the full aggregate undrawn amount of all outstanding L/Cs outstanding hereunder. The Administrative Agent shall hold all such funds and proceeds thereof as collateral security for the obligations of the Borrowers to the Banks under the Loan Documents. All such funds shall be held in an interest bearing deposit account established by the Administrative Agent. Any such funds remaining in such account after all of the Borrowers' indebtedness, obligations and liabilities to the Administrative Agent and the Banks have been -51- 52 paid in full, all Commitments have terminated and all L/Cs have terminated or expired without any further liability of Harrxx xxxating thereto shall be returned to the Borrowers or whoever may be legally entitled thereto.
Sample 1
L/Cs. Promptly following the acceleration of the maturity of the Notes pursuant to Section 8.2 or 8.3 hereof, the Company shall immediately pay to the Agent for the benefit of the Banks the full aggregate amount of all outstanding L/Cs and the Bond L/C. The Agent shall hold all such funds and proceeds thereof as additional collateral security for the obligations of the Borrowers to the Banks under the Loan Documents. The amount paid under any of the L/Cs or the Bond L/C for which the Borrowers have not reimbursed the Banks shall bear interest from the date of such payment at the default rate of interest specified in Section 1.3(c) hereof.
Sample 1

Related to L/Cs

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