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 (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 outstanding Letters of Credit shall not at any time exceed Two Hundred Thousand Dollars
Appears in 1 contract
Samples: Credit Agreement (Invivo Corp)
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 (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 outstanding Letters of Credit shall not at any time exceed Two Hundred Thousand DollarsThree Million and 00/100 Dollars ($3,000,000.00).
Appears in 1 contract
Samples: Credit and Security Agreement (Kewaunee Scientific Corp /De/)
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 outstanding Letters of Credit shall not at any time exceed Two Hundred Thousand Dollarsall
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 standby letters of credit for the account of Borrower purposes deemed acceptable by Bank (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 outstanding Letters of Credit shall not at any time exceed Two Five Hundred Thousand DollarsDollars ($500,000.00)."
Appears in 1 contract
Samples: Credit Agreement (Lecg 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 standby multiple letters of credit for the account of Borrower (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 outstanding Letters of Credit shall not at any time exceed Two Hundred Thousand Dollarsof
Appears in 1 contract
Samples: Credit Agreement (Gadzooks Inc)