Letter of Comfort. The Administrative Agent shall have received executed counterparts of the Letter of Comfort, duly executed and delivered by each party thereto.
Letter of Comfort. Each Corporate Member that is an Obligor shall, and the Account Party shall procure that each Corporate Member will, use all reasonable endeavours to obtain from Lloyd’s (after consultation with the Agent), no later than 5 Banking Days after each of:
(a) the Coming Into Line Date for each new year of account;
(b) the relevant date prescribed by Lloyd’s for the purposes of mid-year coming into line;
(c) any date on which any Letter of Credit is issued or there is any change in the face value of any Letter of Credit;
(d) any date on which any cash or assets are added to or withdrawn from its Primary FAL for purposes of coming-into-line or by way of the release of excess FAL;
(e) any date on which any person who is not then a third party depositor of any FAL included in its Primary FAL transfers cash or assets to Lloyd’s to form part of its Primary FAL; and
(f) any date on which: (i) any letter of credit other than a Letter of Credit is added to its Primary FAL; or (ii) any letter of credit which forms part of its Primary FAL is released by Lloyd’s; one or more letters of comfort addressed to it setting out a requested order, acceptable to the Agent in view of the intention expressed in Clause 3.6, of application of its FAL in respect of Lloyd’s obligations allocable to each year of account of any Syndicate of which it is a member for the time being remaining open, and shall send a copy of each such letter of comfort to the Agent.
Letter of Comfort. The Borrower shall deliver to the Administrative Agent a Letter of Comfort relating to each Managed Syndicate in respect of the 2024 underwriting year of account by no later than December 15, 2023 (or, if later, within four Business Days after Lloyd's provides such Letters of Comfort to the Borrower). Each such Letter of Comfort shall be signed on behalf of Lloyd's by an authorized signatory thereof.
Letter of Comfort. The Borrower shall use all reasonable endeavours, as soon as possible and in any event by no later than 15 December 2023, to:
(a) obtain from Xxxxx’x (after consultation with the Agent), the Letter of Comfort; and
(b) provide a certified copy of the Letter of Comfort to the Agent.
Letter of Comfort. The Borrower:
22.25.1 shall use all reasonable endeavours to obtain a Letter of Comfort from Lloyd's and deliver such Letter of Comfort to the Agent on or prior to the first Utilisation Date; and
22.25.2 shall, notwithstanding sub-clause 22.25.1 above, procure that a Letter of Comfort is issued by Lloyd's and delivered to the Agent no later than the date falling 15 Business Days after the date of this Agreement or such later date as may be agreed by the Agent.
Letter of Comfort. A letter of comfort from State Bank of India, CAG Branch, New Delhi, India, shall be a required document for this Agreement, securing the said enhanced amount of the Revolving Credit Working Capital facility.
Letter of Comfort. The Letter of Comfort shall have been amended to extend its term until December 20, 2022.
Letter of Comfort. The Letter of Comfort shall not be amended, terminated, canceled or repudiated for any reason until all of Borrower’s Obligations under this Agreement and the other Loan Documents have been satisfied in full, except to extend its term.
Letter of Comfort. Deliver to the Seller’s Solicitors a letter of comfort from the Managers in terms of which the Managers will warrant to the Seller that no Employee has received notice terminating his or her employment on or before the Transfer Date.
1. Corporate Matters
Letter of Comfort. To: Seanergy Maritime Holdings Corp. of the Xxxxxxxx Islands (the “Company”) Attn: Xx. Xxxx Xxxxxxxxx Dear Sir, RE: Sale of 50% of all the issued share capital of Bulk Energy Transport (Holdings) Limited, of the Xxxxxxxx Islands (250 shares) from Constellation Bulk Energy Holdings, Inc., of the Xxxxxxxx Islands, as seller, to the Company, as buyer (the “Transaction”). We, CONSTELLATION ENERGY COMMODITIES GROUP INC., in our capacity as a sister company of Constellation Bulk Energy Holdings Inc. (“CBEH”), hereby confirm, undertake and warrant that we shall ensure that CBEH has sufficient financial resources to perform its obligations under clause 4.13 of the agreement made by the buyer and seller on the same date as this letter setting out the terms of the Transaction. If any questions or matter concerning this letter falls to be determined in any jurisdiction, the applicable law of this letter will be English law. Yours faithfully, Name: Authorized Signatory / Title For and on behalf of CONSTELLATION ENERGY COMMODITIES GROUP, INC. The Shareholders of the Company, having read and considered the agreement of even date with this resolution made between Constellation Bulk Energy Holdings, Inc. of the Xxxxxxxx Islands, as seller, and Seanergy Maritime Holdings Corp., a corporation organized under the laws of the Republic of the Xxxxxxxx Islands, as buyer, (the “Agreement”) relating to the sale of 50% of all the issued share capital of the Company (250 shares) by the seller to the buyer (the “Transaction”) hereby resolve as follows:
