Common use of Letter of Credit Subfeature Clause in Contracts

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 letters of credit for the account of Borrower to finance Borrower's working capital requirements (each, a "Letter of Credit" and collectively, "Letters of Credit");

Appears in 1 contract

Samples: Credit Agreement (Red Lion Hotels CORP)

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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/or standby letters of credit for the account of Borrower to finance Borrower's working capital requirements 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, which forms shall be substantially as set forth in Exhibits B and C, and provided

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 or cause an affiliate to issue standby letters of credit for the account of Borrower to finance Borrower's working capital requirements (each, a "Letter of Credit" and collectively, "Letters of Credit");; provided, however, that the aggregate undrawn amount of all outstanding Letters of Credit shall not at any time exceed One Million Dollars ($1,000,000.00).”

Appears in 1 contract

Samples: Credit Agreement (Keith Companies 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 or cause an affiliate to issue standby standby, sight commercial or usance commercial letters of credit for the account of Borrower to finance Borrower's working capital requirements the backing of imports and exports (each, a "Letter of Credit" and collectively, "Letters of Credit");; provided however, that the aggregate undrawn amount of all outstanding Letters of Credit plus the face amount of all outstanding drafts created under usance commercial Letter of Credit

Appears in 1 contract

Samples: Credit Agreement (Lacrosse Footwear Inc)

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Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees may from time to time during the term thereof to issue or cause an affiliate to issue standby letters of credit for the account of Borrower to finance Borrower's working capital requirements (each, a "Letter of Credit" and collectively, "Letters of Credit");; provided, however, that (i) the form and substance of each Letter of Credit shall be subject to approval by Bank in its

Appears in 1 contract

Samples: Loan Agreement (Sharps Compliance Corp)

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