Letters of Credit and Bankers Acceptances. (a) The Letter of Credit-BA Commitment.
Letters of Credit and Bankers Acceptances. (a) The Letter of Credit and Bankers’ Acceptances Commitment.
Letters of Credit and Bankers Acceptances. (a) Subject to the terms and conditions set forth in this Agreement, upon the written request of the Co-Borrowers in accordance herewith, the Issuing Lender shall issue Letters of Credit and create Banker’s Acceptances, at any time during the Revolving Credit Commitment Period, with pro rata participation by all of the Lenders in accordance with their respective Commitment Proportions. Notwithstanding the foregoing, no Letter of Credit or Banker’s Acceptance shall be issued or created if, after giving effect to the same, (i) Aggregate Outstandings would exceed the Total Revolving Credit Commitment or (ii) Aggregate RC Outstandings would exceed the then current Borrowing Base. Furthermore, in no event shall (i) the Aggregate Bankers Acceptances Outstanding exceed $6,000,000 at any time or (ii) (A) the Aggregate Letters of Credit Outstanding plus (B) the Existing Letter of Credit, exceed $6,000,000, at any time. Notwithstanding anything contained herein to the contrary, the Issuing Lender shall be under no obligation to issue a Letter of Credit or create a Banker’s Acceptance, if any order, judgment or decree of any court, arbitrator or governmental authority shall purport by its terms to enjoin, restrict or restrain the Issuing Lender in any respect relating to the issuance of such Letter of Credit or creation of such Banker’s Acceptance or a similar letter of credit or Banker’s acceptance, or any law, rule, regulation, policy, guideline or directive (whether or not having the force of law) from any governmental authority with jurisdiction over the Issuing Lender shall prohibit or direct the Issuing Lender in any respect relating to the issuance of such Letter of Credit or the creation of such Banker’s Acceptance or similar letter of credit or Banker’s acceptance, or shall impose upon the Issuing Lender with respect to any Letter of Credit or Banker’s Acceptance any restrictions, any reserve or capital requirement or any loss, cost or expense not reimbursed by the Co-Borrowers to the Issuing Lender. Each request for issuance of a Letter of Credit shall be in writing and shall be received by the Issuing Lender by no later than 12:00 p.m. on the day which is at least two Business Days prior to the proposed date of issuance. Such issuance or creation, as applicable, shall occur by no later than 5:00 p.m. on the proposed date of issuance or creation (assuming proper prior notice as aforesaid). Subject to the terms and conditions contained herein, the expiry dat...
Letters of Credit and Bankers Acceptances. (a) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, the Issuing Bank agrees, at any time and from time to time on or after the Closing Date until the Termination Date, to issue and deliver or to extend the expiry of Letters of Credit and/or Bankers Acceptances for the account of the Company in an aggregate undrawn amount at any one time outstanding which does not exceed (i) $19,000,000 during the period from January 15, 1997 through and including April 14, 1997, and (ii) $15,000,000 at all other times (the "L/C Facility Commitment"); provided, however, that the Issuing Bank shall not issue or extend the expiry of any Letter of Credit or Bankers Acceptance if, immediately after giving effect to such issuance or extension the aggregate outstanding principal balance of the Revolving Loans and the LC Exposure would exceed the aggregate Commitments. Each Letter of Credit (x) shall be in a form approved in writing by the Company, the Agent and the Issuing Bank, (y) shall be in a minimum principal amount of $5,000 and (z) shall permit drawings upon the presentation of one or more sight drafts, or one or more time drafts for a period not to exceed six months, and such other documents as shall be specified by the Company in the applicable notice and Application delivered pursuant to subsection 2.7(c) below.
Letters of Credit and Bankers Acceptances. If the Bank issues Letters of Credit on Borrower's behalf or extends credit to Borrower under the Revolving Credit Commitment by creating Bankers Acceptances, the Bank shall require Borrower to execute such documents as it customarily uses in connection with Letters of Credit and Bankers Acceptance financing for its borrowers generally. The interest rate that the Bank shall charge to Borrower in connection with any Bankers Acceptance financing shall be such Bank's "Bankers Acceptance Reference Rate" or other rate normally quoted by such Bank for such purposes, plus a margin of 100 basis points. Borrower shall pay the customary fees and charges the Bank imposes in connection with letter of credit financing.
Letters of Credit and Bankers Acceptances. CU Acquisition. The Borrower's acquisition of Capacitores Unidos, S.A. -- ---------- de C.V, a Mexican corporation ("CU") pursuant to a Purchase Agreement dated April 5, 1999.
Letters of Credit and Bankers Acceptances. The obligations of Agent to issue and of any Bank to participate in any Letter of Credit under this Agreement (including the initial Letter of Credit issued hereunder) or to create and of any Bank to participate in any Banker's Acceptance hereunder (including the initial Bankers' Acceptance created hereunder) shall be subject to the following conditions precedent:
Letters of Credit and Bankers Acceptances. 2.5 The subparts (i) and (ii) of Section 2.3(a) are deleted in their entirety and are replaced with the following:
Letters of Credit and Bankers Acceptances. 54 3.01. L/C-B/A Commitment ..................................................................................................... 54 3.02. Procedure for Issuance of Letter of Credit ....................................................................... 56 3.03. Fees and Other Charges ................................................................................................... 56 3.04. L/C-B/A Participations .................................................................................................... 56 3.05. Reimbursement Obligation of the Borrower .................................................................... 57 3.06.
Letters of Credit and Bankers Acceptances
