Letters of Credit and Surety Bonds Sample Clauses

Letters of Credit and Surety Bonds. On the Effective Date, Debtors shall transfer the 100% cash value of the following existing financial guarantees to the following Multistate Trust Environmental Cost or Work Accounts:
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Letters of Credit and Surety Bonds. Buyer shall have replaced, assumed or provided credit support for, all outstanding letters of credit and surety bonds that are required under all outstanding customer contracts in connection with the Business.
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Letters of Credit and Surety Bonds. The Company has informed Buyer that the letters of credit and surety bonds listed in Schedule 5.8 (the “Letters of Credit and Surety Bonds”) have been issued for the benefit of the Company. Except to the extent provided in the definition of USDE Application Notice, Buyer shall have no obligation to substitute replacement letters of credit or surety bonds for the Letters of Credit and Surety Bonds or arrange for return and cancellation of the Letters of Credit and Surety Bonds; provided that nothing in this section shall prevent the Seller Parties from communicating directly with Educational Agencies and surety companies, as applicable, to arrange for such returns or cancellations.
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Letters of Credit and Surety Bonds. The parties will cooperate to, effective as of the Closing, obtain substitutions for, or (if allowed by the lender(s) under the DIP Facility) secure back-to-back arrangements with respect to, the outstanding letters of credit issued under the DIP Facility and the Company's outstanding surety bonds, including any replacements thereof and any other letters of credit issued under the DIP Facility and surety bonds arising in the ordinary course of business subsequent to the date of this Agreement.
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Letters of Credit and Surety Bonds. We are a party to three Letter of Credit Reimbursement and Security Agreements providing $140.0 million, $100.0 million and $20.0 million, respectively for letters of credit. Letters of credit are generally issued for the routine purchase of imported merchandise and we had approximately $150.9 million of purchases committed under these letters of credit at November 1, 2014. We also have approximately $12.9 million of letters of credit outstanding for our self-insurance programs and $4.2 million of surety bonds outstanding primarily for certain utility payment obligations at some of our stores. Technology assets. We have commitments totaling approximately $4.5 million to primarily purchase store technology assets for our stores during 2015. Telecommunication contracts. We have contracted for telecommunication services with contracts expiring in 2017. The total amount of these commitments is approximately $16.8 million. Excerpts relating to Dollar Tree’s business As of November 1, 2014, the Company operated 5,077 stores in 48 states and the District of Columbia, and 205 stores in Canada with a total of 45.8 million selling square feet. During the four quarters ended November 1, 2014, we generated net sales of $8,361.5 million, Adjusted EBITDA of $1,266.1 million, and net income of $605.8 million. During fiscal 2013, we generated net sales of $7,840.3 million, Adjusted EBITDA of $1,197.7 million and net income of $596.7 million. As of November 1, 2014, approximately 2,935 of our stores, totaling 65% of our selling square footage, were 8,000 selling square feet or larger. We operated 219 Deal$ stores as of November 1, 2014. A strong and efficient distribution network is critical to our ability to grow and to maintain a low-cost operating structure. In January 2015, we completed a 270,000 square foot expansion of our Joliet, Illinois distribution center. The Joliet distribution center is now a 1,470,000 square foot fully automated facility. We believe our distribution center network is currently capable of supporting approximately $10.5 billion in annual sales in the United States.
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Letters of Credit and Surety Bonds. On the Effective Date, GenOn shall indemnify NRG and replace all letters of credit and surety bonds provided or guaranteed by NRG for the benefit of GenOn. Transition Arrangements The Plan shall provide for the approval of the Transition Services Agreement. Commencing promptly after entry into the Restructuring Support Agreement, GenOn, NRG, and the GenOn Steering Committee will work cooperatively to negotiate the terms of the Transition Services Agreement to transition Shared Services and to establish GenOn and its subsidiaries as a stand-alone enterprise unaffiliated with NRG, and to facilitate such separation for NRG. The Transition Services Agreement shall include, without limitation, the following basic terms: (i) the continued use of certain to be mutually agreed upon assets or shared assets of NRG and its affiliates (including certain intellectual property, licenses, and permits) by GenOn after the Effective Date; (ii) the transfer of licenses and permits required to operate the Debtors’ businesses to entities owned or controlled by the reorganized Debtors on or as soon as reasonably practicable after the Effective Date, subject to appropriate regulatory approvals, to the extent NRG or its affiliates have any such licenses and permits and are legally permitted to transfer such licenses and permits, and such licenses and permits are not used by NRG or its affiliates for purposes other than the operation of the Debtors’ businesses; (iii) all books and records maintained by GenOn and its subsidiaries will be retained by GenOn; (iv) GenOn will reasonably cooperate (subject to customary nondisclosure and/or nonuse agreements) with NRG in (a) making GenOn records relating to the GenOn business prior to the Effective Date available to NRG on an ongoing basis and (b) making available its personnel and legal and accounting advisors during regular business hours for that purpose; (v) the return of intellectual property or the termination of licenses thereof in favor of the respective legal or beneficial owner of such intellectual property, or such other arrangements with respect to such intellectual property as are reasonably necessary to implement the separation of GenOn from NRG; and (vi) NRG will reasonably cooperate (subject to customary nondisclosure and/or nonuse agreements) with GenOn in (a) making NRG records relating to the GenOn business prior to the Effective Date available to GenOn on an ongoing basis and (b) making available its personnel and leg...
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Letters of Credit and Surety Bonds. DOE shall have received evidence that the Development Security, the Delivery Term Security, the EPC Contract Security, the Mitigation Land Security and the LGIA Surety Bonds shall have been posted in the form of Letters of Credit, in each case, in form and substance reasonably satisfactory to DOE.
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Letters of Credit and Surety Bonds 
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Related to Letters of Credit and Surety Bonds

  • Letters of Credit (a) The Letter of Credit Commitment.

  • The Letters of Credit Each Issuing Bank severally agrees, on the terms and conditions hereinafter set forth, to issue (or cause its Affiliate that is a commercial bank to issue on its behalf) letters of credit (together with the Existing Letters of Credit referred to in Section 2.03(f), the “Letters of Credit”) in U.S. dollars for the account of the Borrower (but in connection with the business of the Borrower or any of its Subsidiaries) from time to time on any Business Day during the period from the Effective Date until 30 days before the latest Termination Date for the Revolving Credit Facility in an aggregate Available Amount (i) for all Letters of Credit not to exceed at any time the Letter of Credit Facility at such time, (ii) for all Letters of Credit issued by such Issuing Bank not to exceed at any time such Issuing Bank’s Letter of Credit Commitment at such time and (iii) for each such Letter of Credit not to exceed the Unused Revolving Credit Commitments of the Revolving Credit Lenders at such time; provided that no Letter of Credit may expire after the date that is 30 days before the Termination Date of any Non-Extending Lender under the Revolving Credit Facility if, after giving effect to such issuance, the aggregate Revolving Credit Commitments of the Extending Lenders (including any replacement Lenders) for the period following such Termination Date would be less than the Available Amount of the Letters of Credit expiring after such Termination Date. No Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the earlier of (A) 30 days Alliance Resource Fourth Amended and Restated Credit Agreement before the Termination Date for the Revolving Credit Facility and (B)(I) in the case of a Standby Letter of Credit, one year after the date of issuance thereof, but may by its terms be renewable annually upon notice (a “Notice of Renewal”) given to the Issuing Bank that issued such Standby Letter of Credit and the Administrative Agent on or prior to any date for notice of renewal set forth in such Letter of Credit but in any event at least three Business Days prior to the date of the proposed renewal of such Standby Letter of Credit and upon fulfillment of the applicable conditions set forth in Article III unless such Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Letter of Credit but in any event at least 45 Business Days prior to the date of automatic renewal of its election not to renew such Standby Letter of Credit (a “Notice of Termination”) and (II) in the case of a Trade Letter of Credit, 30 days after the date of issuance thereof; provided that the terms of each Standby Letter of Credit that is automatically renewable annually shall (x) require the Issuing Bank that issued such Standby Letter of Credit to give the beneficiary named in such Standby Letter of Credit notice of any Notice of Termination, (y) permit such beneficiary, upon receipt of such notice, to draw under such Standby Letter of Credit prior to the date such Standby Letter of Credit otherwise would have been automatically renewed and (z) not permit the expiration date or the Available Amount (after giving effect to any renewal) of such Standby Letter of Credit in any event to be extended to a date later than 30 days before the Termination Date for the Revolving Credit Facility applicable to the Extending Lenders or in an Available Amount in excess of the Revolving Credit Commitments of the Extending Lenders. Notwithstanding anything to the contrary in the immediately preceding sentence, Letters of Credit issued by any Issuing Bank may have expiration dates as mutually agreed upon by the Borrower and such Issuing Bank, but in any event no later than the sixth anniversary of the Effective Date (any such Letters of Credit with expiration dates after 30 days prior to the Termination Date for the Revolving Credit Facility, “Special Letters of Credit”). If either a Notice of Renewal is not given by the Borrower or a Notice of Termination is given by the relevant Issuing Bank pursuant to the second immediately preceding sentence, such Standby Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed; provided, however, that even in the absence of receipt of a Notice of Renewal the relevant Issuing Bank may in its discretion, unless instructed to the contrary by the Administrative Agent or the Borrower, deem that a Notice of Renewal had been timely delivered and in such case, a Notice of Renewal shall be deemed to have been so delivered for all purposes under this Agreement. Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(d), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(d).

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Existing Letters of Credit The parties hereto agree that the Existing Letters of Credit shall be deemed Letters of Credit for all purposes under this Agreement, without any further action by the Borrower.

  • New Swing Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Loans unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect to such Swing Loan and (ii) no LC Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is reasonably satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Requesting Letters of Credit (a) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the LC Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application may be sent by facsimile, by United States mail, by overnight courier, by electronic transmission using the system provided by the LC Issuer, by personal delivery or by any other means acceptable to the LC Issuer. Such Letter of Credit Application must be received by the LC Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the LC Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the LC Issuer: (i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (ii) the amount thereof; (iii) the expiry date thereof; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by such beneficiary in case of any drawing thereunder; (vi) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (vii) the purpose and nature of the requested Letter of Credit; and (viii) such other matters as the LC Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the LC Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the LC Issuer may require. Additionally, the Borrower shall furnish to the LC Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the LC Issuer or the Administrative Agent may require. If any provisions of any Issuer Document conflict with any provisions of this Agreement, the provisions of this Agreement shall govern and control.

  • New Swing Line Loans/Letters of Credit Notwithstanding anything in this Agreement to the contrary, so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Letter of Credit Accommodations (a) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Lender agrees to provide or arrange for Letter of Credit Accommodations for the account of Borrower containing terms and conditions acceptable to Lender and the issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the Letter of Credit Accommodations shall constitute additional Revolving Loans to Borrower pursuant to this Section 2.

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