Letters of Credit Generally Sample Clauses

Letters of Credit Generally. (i) No Issuing Bank shall issue any Letter of Credit if the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date; provided that in no event shall the expiry date of any requested Letter of Credit occur on or after the Business Day immediately preceding April 30, 2013. (ii) No Issuing Bank shall be under any Obligation to make any L/C Credit Extension if: (A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any Applicable Law to such Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the issuance of Letters of Credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which such Issuing Bank in good xxxxx xxxxx material to it; (B) the making of such L/C Credit Extension would violate any Applicable Laws; (C) except as otherwise agreed by the Administrative Agent and such Issuing Bank, such Letter of Credit is in an initial face amount less than $100,000; (D) such L/C Credit Extension is to be denominated in a currency other than Dollars; (E) such L/C Credit Extension contains any provisions for automatic reinstatement of the stated amount after any L/C Borrowing thereunder; or (F) a default of any Lender’s obligations to fund under Section 2.03 exists, or any Lender is then a Defaulting Lender, unless such Issuing Bank has entered into satisfactory arrangements with the Borrower or such Lender to eliminate such Issuing Bank’s risk with respect to such Lender. (iii) No Issuing Bank shall amend any Letter of Credit if such Issuing Bank would not be permitted at such time to make such L/C Credit Extension in its amended form under the terms hereof. (iv) No Issuing Bank shall be under the obligation to amend any Letter of Credit if (A) such Issuing Bank would have no obligation at such time to issue such Letter of Credit...

Letters of Credit Generally. (i) No Issuing Bank shall issue any Letter of Credit if the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date; provided that in no event shall the expiry date of any requested Letter of Credit occur on or after the Business Day immediately preceding the third anniversary of the Closing Date.

Letters of Credit Generally. (a) Subject to and upon the terms and conditions set forth herein, any Revolving Borrower may request that an Issuing Lender in its individual capacity issue, at any time and from time to time on and after the Effective Date and prior to the 5th day (or, in the case of trade Letters of Credit, the 30th day) prior to the Revolving Loan Maturity Date, for the account of such Revolving Borrower, (i) an irrevocable sight standby letter of credit in a form customarily used by such Issuing Lender, or in such other form as has been approved by such Issuing Lender, in support of such obligations of Silgan or any of its Subsidiaries as may be requested by the respective Revolving Borrower (other than obligations in respect of any Indebtedness that is subordinated to the Obligations or capital stock) and subject to ISP98 as set forth in the Letter of Credit application or as determined by the applicable Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New York, and (ii) an irrevocable sight trade letter of credit in a form customarily used by such Issuing Lender, or in such other form as has been approved by such Issuing Lender, in support of commercial transactions of any Revolving Borrower or any of its Subsidiaries and subject to the Uniform Customs as set forth in the Letter of Credit application or as determined by the applicable Issuing Lender and, to the extent not inconsistent therewith, the laws of the State of New York (each letter of credit issued pursuant to this Section 3.01(a), together with each letter of credit described in the immediately succeeding sentence, a “Letter of Credit”). It is hereby acknowledged and agreed that each of the letters of credit described in Schedule II (the “Existing Letters of Credit”), which were issued by Xxxxx Fargo or its affiliates under the Existing Credit Agreement and remain outstanding on the Effective Date, shall constitute a “Letter of Credit” for all purposes of this Agreement and shall be deemed issued under this Agreement on the Effective Date. (b) Subject to and upon the terms and conditions set forth herein, each Issuing Lender hereby agrees that it will, at any time and from time to time on and after the Effective Date and prior to the 5th day (or, in the case of trade Letters of Credit, the 30th day) prior to the Revolving Loan Maturity Date, following its receipt of the respective Letter of Credit Request, issue for the account of the respective Revolving Borrower, on...

Letters of Credit Generally. Borrower shall give Lender no less than thirty (30) days notice of Borrower’s election to deliver a Letter of Credit pursuant to this Article VII. Borrower shall pay to Lender all of Lender’s reasonable out-of-pocket costs and expenses in connection therewith. Borrower shall not be entitled to draw from any such Letter of Credit.

Letters of Credit Generally. 34- SECTION 5.02. Authorization to Charge Revolving Loan Account..................................................-34- SECTION 5.03. Indemnification.................................................................................-34- SECTION 5.04. Participation,..................................................................................-34- SECTION 5.05. Limitation on Agent's Responsibility............................................................-35- SECTION 5.06. Further Provisions..............................................................................-35- SECTION 5.07. Licenses; Risk..................................................................................-36- SECTION 5.08. Subrogation.....................................................................................-36- ARTICLE VI Collateral

Letters of Credit Generally. Within the Revolving Line of Credit, the Agent on behalf of the Lenders shall assist the Borrower in obtaining Letters of Credit from time to time, so long as after giving effect to the issuance of any requested Letter of Credit, the Letter of Credit Exposure shall not exceed the lesser of (a) the Letter of Credit Sub-Line and (b)

Letters of Credit Generally. Subject to the terms and conditions set forth in this Agreement, upon written request of the Borrower to the Agent in accordance herewith, provided that no Default or Event of Default shall be existing, the Agent shall issue Letters of Credit with pro rata participation by all of the Banks in accordance with their respective 21 Commitment Proportions pursuant to Section 2.6(d) below, at any time between the date hereof and the Termination Date. Notwithstanding the foregoing, (i) at no time shall Aggregate Letters of Credit Outstandings exceed $8,000,000, (ii) at no time shall more than $5,000,000 of availability be used for Documentary Letters of Credit or more than $3,000,000 of availability be used for Standby Letters of Credit and (iii) no Letter of Credit shall be issued or created if, after giving effect to such issuance, the foregoing limit would be exceeded or the Aggregate Outstandings would exceed the Total Commitments in effect on such date. Furthermore, notwithstanding anything contained herein to the contrary, the Agent shall not be under any obligation to issue a Letter of Credit if any order, judgment or decree of any court, arbitrator or governmental authority shall purport by its terms to enjoin, restrict or restrain the Agent or any of the Banks in any respect relating to the issuance of such Letter of Credit or a similar letter of credit, 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 Agent or any of the Banks shall prohibit or direct the Agent or any of the Banks in any respect relating to the issuance of such Letter of Credit or a similar letter of credit, or shall impose upon the Agent or any of the Banks with respect to any Letter of Credit, any restrictions, any reserve or capital requirement or any loss, cost or expense not reimbursed by the Borrower to the Agent or any of the Banks. The Existing Letters of Credit shall automatically be deemed to have been issued under, and shall be subject to the provisions of, this Agreement as of the date hereof. Each request for issuance of a Letter of Credit shall be in writing and shall be on the Agent's standard form. Subject to the terms and conditions contained herein, the expiration dates, amounts and beneficiaries of the Letters of Credit will be as designated by the Borrower. The Agent shall promptly notify the Banks of the amounts of all Letters of Credit issued hereunder an...

Letters of Credit Generally. (i) In determining whether to honor any drawing under any Letter of Credit by the beneficiary thereof, the applicable Issuing Bank shall be responsible only to examine the documents delivered under such Letter of Credit with reasonable care so as to ascertain whether they appear on their face to be in accordance with the terms and conditions of such Letter of Credit. As between Company and any Issuing Bank, Company assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by such Issuing Bank by, the respective beneficiaries of such Letters of Credit. In furtherance and not in limitation of the foregoing, no Issuing Bank shall be responsible for: (1) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for and issuance of any such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (2) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (3) failure of the beneficiary of any such Letter of Credit to comply fully with any conditions required in order to draw upon such Letter of Credit; (4) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (5) errors in interpretation of technical terms; (6) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such Letter of Credit or of the proceeds thereof; (7) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (8) any consequences arising from causes beyond the control of such Issuing Bank, including any Governmental Acts, and none of the above shall affect or impair, or prevent the vesting of, any Issuing Bank's rights or powers hereunder. Without limiting the foregoing and in furtherance thereof, any action taken or omitted by any Issuing Bank under or in connection with the Letters of Credit issued thereby or any documents and certificates delivered thereunder, if taken or omitted in good faith, shall not put such Issuing Bank under any resultin...

Letters of Credit Generally. Borrowers may deliver to Lender a Letter of Credit in accordance with the provisions of this Section 3.12 in lieu of deposits previously made to or then required to be made into certain Subaccounts in accordance with Sections 3.2.2, 3.3.1, 3.4.1 and 3.5.1 (the "Applicable Subaccounts"). The aggregate amount of any Letter of Credit and cash on deposit with respect to the Applicable Subaccounts shall at all times be at least equal to the aggregate face amount of the Letters of Credit which Borrowers may deliver pursuant to Sections 3.2.3, 3.3.2, 3.4.2 and 3.

Letters of Credit Generally. 11A(2) of the Credit Agreement is hereby amended to read in its entirety as follows: