Common use of Letter of Credit Sub-Facility Clause in Contracts

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters of credit (each a “Letter of Credit” and, collectively, the “Letters of Credit”) during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters Documentary Letters of credit Credit and Standby Letters of Credit (each collectively, the "Letters of Credit"; each, individually, a “"Letter of Credit” and, collectively, the “Letters of Credit”") during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall (whether or not the conditions for drawing under any Letter of Credit have or may be satisfied) would not exceed the Letter of Credit Commitment, Commitment Amount and (ii) the Aggregate Credit Exposure shall would not exceed the Aggregate Commitment Amount. Each Letter of Credit issued pursuant to this Section shall have an expiration date which shall be not later than the earlier to occur of one year from (i) twelve months after the date of issuance thereof or 5 days prior to (ii) ten Business Days before the Commitment Termination Maturity Date. No Letter of Credit shall be issued if the Administrative Agent, the Issuing Bank or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. 1:00 p.m. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions any condition set forth in Sections Article 5 and/or 6, as applicable have or 6 has not been satisfied.

Letter of Credit Sub-Facility. (a) 1. Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.92.8, to issue standby letters of credit (each the "LETTERS OF CREDIT"; each, individually, a “Letter of Credit” and, collectively, the “Letters of Credit”"LETTER OF CREDIT") during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall (whether or not the conditions for drawing under any Letter of Credit have or may be satisfied) would not exceed the Letter of Credit Commitment, Commitment Amount and (ii) the Aggregate Credit Exposure shall would not exceed the Aggregate Commitment Amount. Each Letter of Credit issued pursuant to this Section shall have an expiration date which shall be not later than the earlier to occur of one year from the date of issuance thereof or 5 days Business Day prior to the Commitment Termination Maturity Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. 1:00 p.m. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions any condition set forth in Sections 5 and/or 6, as applicable have Section 6 has not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.92.10, to issue standby letters of credit (each a “Letter of Credit” and, collectively, the “Letters of Credit”; each, individually, a “Letter of Credit”) during the Commitment Availability Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall each Lender (whether or not exceed Table of Contents the conditions for drawing under any Letter of Credit Commitment, have or may be satisfied) would not exceed its Letter of Credit Commitment and (ii) the Aggregate Credit Exposure shall would not exceed the Aggregate Commitment AmountRevolving Commitment. Each Letter of Credit issued pursuant to this Section shall have an expiration date which shall be not later than the earlier to occur of one year from (i) twelve months after the date of issuance thereof or 5 days prior to (ii) ten Business Days before the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. 1:00 p.m. New York City time one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions any condition set forth in Sections 5 and/or 6, as applicable have Section 5.01 or 5.02 has not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby or commercial letters of credit (each a “Letter of Credit” and, collectively, the “Letters of Credit”) during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than than, in the case of standby Letters of Credit, the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date and, in the case of CVS Caremark 2013 Credit Agreement commercial Letters of Credit, the earlier to occur of 180 days from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or Section 6, as applicable have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue issue, extend and renew standby letters of credit (each drawable on a “sight basis only) denominated in Dollars (the "Letters of Credit"; each, individually, a "Letter of Credit” and, collectively, the “Letters of Credit”") during the Revolving Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall (whether or not the conditions for drawing under one or more Letters of Credit have or may be satisfied) would not exceed the Letter of Credit Commitment, Commitment Amount and (ii) the Aggregate Credit Revolving Exposure shall would not exceed the Aggregate Revolving Commitment Amount. Any extension of any expiry date of, or renewal of, a Letter of Credit shall constitute an "issuance" of such Letter of Credit for all purposes of this Agreement. Each Letter of Credit shall be for the purpose of supporting the Borrower's obligations with respect to deposit requirements associated with proposed acquisitions and to support ordinary course business transactions, and shall have an expiration date which shall be not later than the earlier to occur of one year from (i) twelve months after the date of issuance thereof or 5 days prior to (ii) the Commitment Termination thirtieth day before the Maturity Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters of credit (each a “Letter of Credit” "LETTER OF CREDIT" and, collectively, the “Letters of Credit”"LETTERS OF CREDIT") during the Commitment Period for the account of the Borrower, provided PROVIDED that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters of credit (each a “Letter of Credit” and, collectively, the “Letters of Credit”) during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable and 6 have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters of credit (each a “Letter the "STANDBY LETTERS OF CREDIT") or commercial (trade) letters of Credit” credit (the "TRADE LETTERS OF CREDIT" and, collectively, together with the “Standby Letters of Credit”, the "LETTERS OF CREDIT") denominated in Dollars during the Revolving Credit Commitment Period for the account of the Parent Borrower, provided that that, immediately after the issuance of each Letter of Credit Credit, (i) the Letter of Credit Exposure of all Lenders shall (whether or not the conditions for drawing under any Letter of Credit have or may be satisfied) would not exceed the Letter of Credit CommitmentCommitment Amount, and (ii) the Aggregate Credit Exposure shall would not exceed the Aggregate Revolving Credit Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than the earlier to occur of one year from (i) twelve months after the date of issuance thereof or 5 days prior to (ii) five Business Days before the Scheduled Revolving Credit Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. 1:00 p.m. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions any condition set forth in Sections 5 and/or 6, as applicable have or 6 has not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writingthis Agreement, the Issuer Issuing Bank agrees, in reliance on the agreement of the other Lenders set forth in Section 2.92.8, to issue standby letters of credit on a sight basis denominated in Dollars (each the "New Letters of Credit"; each, individually, a “"New Letter of Credit” and, collectively, the “Letters of Credit”") during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each New Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall (whether or not the conditions for drawing thereunder have or may be satisfied) would not exceed the Letter of Credit Commitment, Commitment Amount and (ii) the Aggregate Credit Exposure shall would not exceed the Aggregate Commitment Amount. Each New Letter of Credit issued pursuant to this Agreement shall have an expiration date which shall be not later than the earlier to occur of one year from (i) twelve months after the date of issuance thereof or 5 days prior to (ii) the Commitment Termination thirtieth (30th) Business Day before the Maturity Date. No New Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. 1:00 p.m. one Domestic Business Day prior to the requested date of issuance of such New Letter of Credit, shall have determined that the conditions any condition set forth in Sections Section 5 and/or 6, as applicable have or 6 has not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby letters of credit (each a “"Letter of Credit” " and, collectively, the “"Letters of Credit”") during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable and 6 have not been satisfied.

Letter of Credit Sub-Facility. (a) Subject to the terms and conditions hereof and the payment by the Borrower to the Issuer of such fees as the Borrower and the Issuer shall have agreed in writing, the Issuer agrees, in reliance on the agreement of the other Lenders set forth in Section 2.9, to issue standby or commercial letters of credit (each a “Letter of Credit” and, collectively, the “Letters of Credit”) during the Commitment Period for the account of the Borrower, provided that immediately after the issuance of each Letter of Credit (i) the Letter of Credit Exposure of all Lenders shall not exceed the Letter of Credit Commitment, and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment Amount. Each Letter of Credit shall have an expiration date which shall be not later than than, in the case of standby Letters of Credit, the earlier to occur of one year from the date of issuance thereof or 5 days prior to the Commitment Termination Date and, in the case of commercial Letters of Credit, the earlier to occur of 180 days from the date of issuance thereof or 5 days prior to the Commitment Termination Date. No Letter of Credit shall be issued if the Administrative Agent, or any Lender by notice to the Administrative Agent and the Issuer no later than 3:00 P.M. one Domestic Business Day prior to the requested date of issuance of such Letter of Credit, shall have determined that the conditions set forth in Sections 5 and/or 6, as applicable Section 6 have not been satisfied.