Letters of Credit; Guarantees Sample Clauses

Letters of Credit; Guarantees. The parties acknowledge and agree to work together to replace the letters of credit and guarantees disclosed in Section 9.23 of the Cargill Disclosure Schedule with letters of credit and/or guarantees made by Newco.
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Letters of Credit; Guarantees. (a) Acquiror shall use reasonable best efforts to cause to remain in effect (as of immediately after the Closing) by arranging replacement arrangements for, at its sole cost and expense, effective as of the Closing Date, all letters of credit that are set forth on Schedule 6.7(a).
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Letters of Credit; Guarantees. Section 3.29 of the Seller Disclosure Schedule sets forth a true, complete and correct list of all letters of credit, guarantees, performance or warranty bonds and similar instruments issued or maintained by or on behalf of any of the Companies or primarily for the benefit of the Business as of the date hereof.
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Letters of Credit; Guarantees. Neither the Company nor FOHP-NJ shall draw any amounts under any letter of credit, or incur any obligations under any other reimbursement or other agreement relating to credit support therefor, unless so required by either the New Jersey Department of Banking and Insurance or the New Jersey Department of Health and Senior Services to so draw such amounts under such letter of credit or so incur such obligations under such reimbursement or other agreement, in which event all amounts so drawn, or received by the Company or FOHP-NJ in connection with such obligation incurrence, shall be placed and maintained in a separate and segregated account from which funds shall be used to satisfy in full all obligations relating to such letter of credit or reimbursement or other agreement, as the case may be. The Company or FOHP-NJ, as the case may be, shall immediately provide written notice to HSI should they become required by the New Jersey Department of Banking and Insurance or the New Jersey Department of Health and Senior Services to draw any amounts under any letter of credit, or incur any obligations under any other reimbursement or other agreement relating to credit support therefor.
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Letters of Credit; Guarantees. With the exception of the Letter of Credit issued by CoreStates Bank and secured by Jxxx X. Xxxxxx, none of the Letters of Credit or guarantees set forth on Schedule 2.6 hereto shall have expired or terminated.
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Letters of Credit; Guarantees. (a) AWI shall continue to ----------------------------- maintain and/or guarantee, for the benefit of AO, (i) those letters of credit set forth in Schedule 7.10 (i) until such time as those letters of credit expire by their terms, (ii) those guarantees of certain real estate leases set forth in Schedule 7.10 (ii) until such time as those guarantees expire by their terms and (iii) those guarantees of certain customs and reclamation bonds set forth in Schedule 7.10 (iii) until such time as those guarantees expire by their terms, provided that, in each case, the Company shall defend, indemnify and hold AWI harmless against any and all loss, liability, claim, award, judgment, cost, damage or expense (including, without limitation, reasonable attorney's fees) (a "Loss") incurred by AWI after the Closing ---- pursuant to such letters of credit or guarantees as a result of AO's failure to comply with the terms of leases referred to in clause (ii) above or the underlying obligations pursuant to which such letters of credit or bonds were issued.
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Related to Letters of Credit; Guarantees

  • The Letters of Credit Prior to the Closing Date, the Existing Issuing Banks have issued the Existing Letters of Credit which from and after the Closing Date shall constitute Letters of Credit hereunder. Each Issuing Bank (other than the Existing Issuing Banks) severally agrees, on the terms and conditions hereinafter set forth, to issue letters of credit (the “Letters of Credit”) in U.S. Dollars for the account of the Borrower in support of obligations (including, without limitation, performance, bid and similar bonding obligations and credit enhancement) of the Borrower and its Affiliates, from time to time on any Business Day during the period from the Effective Date until the Business Day before the Termination Date in an aggregate Available Amount (i) for all Letters of Credit issued by such Issuing Bank not to exceed at any time the lesser of (x) the Letter of Credit Facility at such time and (y) such Issuing Bank’s Letter of Credit Commitment at such time and (ii) for each such Letter of Credit not to exceed the Unused Revolving Credit Commitments of the Lenders at such time; provided, however, that in no event shall the aggregate Available Amount for all Letters of Credit exceed $200,000,000; provided, further, that neither Bank of America, National Association, nor SunTrust Bank shall be required, without the consent of such Issuing Bank, to issue Letters of Credit in excess of $100,000,000 outstanding for each such Issuing Bank. No Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the Business Day before the Termination Date. 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(b), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.04(c) and request the issuance of additional Letters of Credit under this Section 2.01(b); provided, however, that neither Bank of America, National Association, nor SunTrust Bank shall be required to issue Letters of Credit in excess of $100,000,000 outstanding for each such Issuing Bank.

  • 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.

  • Outstanding Letters of Credit On the effective date of such increase, each Increasing Lender and each New Lender (i) will be deemed to have purchased a participation in each then outstanding Letter of Credit equal to its Ratable Share of such Letter of Credit and the participation of each other Lender in such Letter of Credit shall be adjusted accordingly and (ii) will acquire (and will pay to the Administrative Agent, for the account of each Lender, in immediately available funds, an amount equal to) its Ratable Share of all outstanding Participation Advances.

  • 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.

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

  • Requesting Letters of Credit The Borrower must make written application for any Letter of Credit at least three Business Days (or such shorter period as may be agreed upon by the LC Issuer) before the date on which the Borrower desires for LC Issuer to issue such Letter of Credit. By making any such written application, unless otherwise expressly stated therein, the Borrower shall be deemed to have represented and warranted that the LC Conditions described in Section 2.07 will be met as of the date of issuance of such Letter of Credit. Each such written application for a Letter of Credit must be made in the form of the Letter of Credit Application. If all LC Conditions for a Letter of Credit have been met as described in Section 2.07 on any Business Day before 11:00 a.m., LC Issuer will issue such Letter of Credit on the same Business Day at LC Issuer’s Lending Office. If the LC Conditions are met as described in Section 2.07 on any Business Day on or after 11:00 a.m., LC Issuer will issue such Letter of Credit on the next succeeding Business Day at LC Issuer’s Lending Office. If any provisions of any LC Application conflict with any provisions of this Agreement, the provisions of this Agreement shall govern and control. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any extension of an Auto-Extension Letter of Credit. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than five Business Days prior to the end of the Commitment Period; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof, or (B) it has received notice (which may be by telephone or in writing) from the Administrative Agent, any Lender or the Borrower on or before the day that is five Business Days before the last day in which notice of non-extension for such Letter of Credit may be given that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and directing the L/C Issuer not to permit such extension.

  • Loans and Letters of Credit On the Closing Date:

  • Extended Letters of Credit Each Revolving Lender confirms that its obligations under the immediately preceding subsections (i) and (j) shall be reinstated in full and apply if the delivery of any Cash Collateral in respect of an Extended Letter of Credit is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise.

  • 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.

  • Use of Loans and Letters of Credit The proceeds of the Loans and the Letters of Credit shall be used for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing xxxxx), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

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