Letter of Credit Subfeature. As a subfeature --------------------------- under the Line of Credit, Bank agrees from time to time during the term thereof to issue commercial and standby letters of credit for the account of Borrower to finance inventory purchases (each, a "Letter of Credit" and collectively, "Letters of Credit"); provided however, that the form and substance of each Letter of Credit shall be subject to approval by Bank, in its sole discretion; and provided further, that the aggregate undrawn amount of all
Appears in 1 contract
Samples: Credit Agreement (Shoe Pavilion Inc)
Letter of Credit Subfeature. As a subfeature --------------------------- under the Line of Credit, Bank agrees from time to time during the term thereof to issue commercial and or cause an affiliate to issue standby letters of credit for the account of Borrower to finance inventory purchases Borrower's working capital requirements (each, a "Letter of Credit" and collectively, "Letters of Credit"); provided however, that the form and substance of each Letter of Credit shall be subject to approval by Bank, in its sole discretion; and provided further, that the aggregate undrawn amount of all;
Appears in 1 contract
Letter of Credit Subfeature. As a subfeature --------------------------- under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby, sight commercial and standby or usance commercial letters of credit for the account of Borrower to finance inventory purchases the backing of imports and exports (each, a "Letter of Credit" and collectively, "Letters of Credit"); provided however, that the form and substance of each Letter of Credit shall be subject to approval by Bank, in its sole discretion; and provided further, that the aggregate undrawn amount of allall outstanding Letters of Credit plus the face amount of all outstanding drafts created under usance commercial Letter of Credit
Appears in 1 contract
Letter of Credit Subfeature. As a subfeature --------------------------- under the Line of Credit, --------------------------- Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue commercial and and/or standby letters of credit for the account of Borrower to finance inventory purchases (each, a "Letter of Credit" and collectively, "Letters of Credit"); provided provided, however, that the form and substance of each Letter of Credit shall be subject to approval by Bank, in its sole discretion; , which forms shall be substantially as set forth in Exhibits B and provided furtherC, that the aggregate undrawn amount of alland provided
Appears in 1 contract
Samples: Credit Agreement (Shoe Pavilion Inc)