Letters of Credit under Existing Credit Agreement Sample Clauses

Letters of Credit under Existing Credit Agreement. On the Effective Date, the letters of credit outstanding under the Existing Credit Agreement as of the Effective Date shall be deemed to be Letters of Credit pursuant to and in compliance with this Section 2.09 on the Effective Date.
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Letters of Credit under Existing Credit Agreement. The “Letters of Credit” outstanding under the Existing Credit Agreement shall constitute Letters of Credit hereunder.
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Letters of Credit under Existing Credit Agreement. Notwithstanding any other provision hereof, each outstanding L/C (as defined in the Existing Credit Agreement) shall, upon satisfaction by the Obligors or waiver by the Lenders of the conditions precedent set out in Section 9.1, constitute (i) outstanding Letters of Credit hereunder, subject to all terms and conditions applicable to Letters of Credit hereunder and (ii) shall, together with any other Advance or Advances made upon the satisfaction or waiver of such conditions precedent, as aforesaid, constitute the initial Advance or Advances made under this Agreement for the purposes of Section 9.1. For greater certainty, accrued “L/C fees” (as referenced in the Existing Credit Agreement) shall constitute accrued Letter of Credit Fees hereunder and shall be payable by the Borrower on the first Business Day following completion of the fiscal quarter of the Borrower in which the Closing Date occurs in accordance with Section 3.3.2.1, and accrued “L/C fronting fees” (as referenced in the Existing Credit Agreement) shall constitute accrued Fronting Fees hereunder and shall be payable by the Borrower on the first Business Day following completion of the fiscal quarter of the Borrower in which the Closing Date occurs in accordance with Section 3.3.2.2.
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Letters of Credit under Existing Credit Agreement. (a) Set forth on Schedule 2.18 annexed hereto is a list of (i) the outstanding letters of credit issued by Existing Fronting Bank or Original Fronting Bank pursuant to the Existing Credit Agreement or the Original Credit Agreement, as applicable (the “Existing Letters of Credit”), (ii) the beneficiaries of such Existing Letters of Credit, (iii) the face amount of such Existing Letters of Credit, (iv) the expiration dates of such Existing Letters of Credit and (v) the undrawn face amounts of such Existing Letters of Credit.
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Letters of Credit under Existing Credit Agreement. To the extent that, pursuant to Section 2.05 of the Existing Credit Agreement, JPMCB (formerly known as JPMorgan Chase Bank), as the "Issuing Bank" thereunder, has issued "Letters of Credit" thereunder and as defined therein, on the Effective Date, subject to the satisfaction of the conditions to effectiveness of the obligations of the Lenders hereunder set forth in Article V, each of such "Letters of Credit" thereunder listed in Schedule 2.05(l) shall automatically, and without any action on the part of any Person, become Letters of Credit hereunder.
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Letters of Credit under Existing Credit Agreement. On the ------------------------------------------------- Effective Date, any "Letters of Credit" outstanding under the Existing Credit Agreements for account of the Company shall automatically, and without any action on the part of any Person, become Letters of Credit hereunder. The Company hereby indemnifies and holds harmless each Revolving Credit Lender and the Administrative Agent from and against any and all claims and damages, losses, liabilities, costs or expenses that such Lender or the Administrative Agent may incur (or that may be claimed against such Lender or the Administrative Agent by any Person whatsoever) by reason of or in connection with the execution and delivery or transfer of or payment or refusal to pay by the Issuing Lender under any Letter of Credit; provided that the Company shall -------- not be required to indemnify any Lender or the Administrative Agent for any claims, damages, losses, liabilities, costs or expenses to the extent, but only to the extent, caused by (x) the willful misconduct or gross negligence of the Issuing Lender in determining whether a request presented under any Letter of Credit complied with the terms of such Letter of Credit or (y) in the case of the Issuing Lender, such Xxxxxx's failure to pay under any Letter of Credit after the presentation to it of a request strictly complying with the terms and conditions of such Letter of Credit. Nothing in this Section 2.03 is intended to limit the other obligations of the Company, any Lender or the Administrative Agent under this Agreement.
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Letters of Credit under Existing Credit Agreement. As provided in the Supplemental DIP Financing Order, any Letters of Credit issued under the Existing Credit Agreement and outstanding on the Closing Date shall be deemed to be Letters of Credit requested by the Borrower and issued by the Issuing Lender hereunder.
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Letters of Credit under Existing Credit Agreement. (a) Set forth on Schedule 2.18 annexed hereto is a list of (i) the outstanding letters of credit issued by Existing Fronting Bank pursuant to the Existing Credit Agreement (the “Existing Letters of Credit”), (ii) the beneficiaries of such Existing Letters of Credit, (iii) the face amount of such Existing Letters of Credit, (iv) the expiration dates of such Existing Letters of Credit and (v) the undrawn face amounts of such Existing Letters of Credit.
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Related to Letters of Credit under Existing Credit Agreement

  • Revolving Credit Agreement The Agent shall have received this Agreement duly executed and delivered by each of the Banks and the Company and each of the Banks shall have received a fully executed Committed Note and a fully executed Bid Note, if such Notes are requested by any Bank pursuant to Section 12.9.

  • Amendment of Credit Agreement The Credit Agreement is hereby amended as follows:

  • Effect of Letters of Credit on Revolving Commitments Upon the issuance by the Issuing Bank of any Letter of Credit and until such Letter of Credit shall have expired or been cancelled, the Revolving Commitment of each Revolving Lender shall be deemed to be utilized for all purposes of this Agreement in an amount equal to the product of (i) such Lender’s Revolving Commitment Percentage and (ii) (A) the Stated Amount of such Letter of Credit plus (B) any related Reimbursement Obligations then outstanding.

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • 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.

  • Revolving Credit and Swing Loan Facilities 2.1 Revolving Credit Commitments.

  • Execution of Credit Agreement and Credit Documents The Administrative Agent shall have received (i) counterparts of this Credit Agreement, executed by a duly authorized officer of each party hereto, (ii) a Note, for the account of each Lender that requests a Note, (iii) for the account of the Swingline Lender, the Swingline Note, and (iv) counterparts of any other Credit Document, executed by the duly authorized officers of the parties thereto.

  • Revolving Credit Facility (i) Subject to the terms and conditions hereof, each Lender severally agrees to make available to Borrowers from time to time until the Commitment Termination Date its Pro Rata Share of advances (each, a “Revolving Credit Advance”). The Pro Rata Share of the Loans of any Lender shall not at any time exceed its separate Commitment. The obligations of each Lender hereunder shall be several and not joint. Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 2.1(a); provided, that (x) the amount of any Revolving Credit Advances to be made at any time shall not exceed Availability at such time, (y) the amount of any Revolving Credit Advances to be made to the U.S. Borrowers at any time shall not exceed the U.S. Availability at such time and (z) the amount of any Revolving Credit Advances to be made to the Canadian Borrowers at any time shall not exceed the Canadian Availability at such time. Each Revolving Credit Advance shall be made on notice by Borrower Representative to one of the representatives of Agent identified in Schedule (2.1) at the address specified therein. Any such notice must be given no later than (1) 12 noon (New York, New York time) on the date of the proposed Revolving Credit Advance, in the case of a Base Rate Loan, or (2) 12 noon (New York, New York time) on the date which is three (3) Business Days’ prior to the proposed Revolving Credit Advance, in the case of a LIBOR Loan. Each such notice (a “Notice of Revolving Credit Advance”) may be given verbally by telephone but must be immediately confirmed in writing (by fax, electronic mail or overnight courier) substantially in the form of Exhibit 2.1(a)(i), and shall include the information required in such Exhibit. If any Borrower desires to have the Revolving Credit Advances bear interest by reference to a LIBOR Rate, with respect to LIBOR Loans denominated in Dollars, and BA Rate, with respect to LIBOR Loans denominated in Canadian Dollars, Borrower Representative must comply with Section 2.5(e). All Revolving Credit Advances (x) made to a U.S. Borrower shall be denominated in Dollars and (y) made to a Canadian Borrower shall be denominated in Dollars or Canadian Dollars but shall be deemed to have been made (in the case of Canadian Dollar Revolving Credit Advances) in the Dollar Equivalent of such Revolving Credit Advance.

  • of Credit Agreement Section 1.1(b)(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

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