LIMITATION ON OPTIONAL CALLS. Exercise its rights under the Bond Documents to direct the Issuer to call the Bonds for any optional redemption thereof or convert the interest rate thereon to the Long Term Rate, unless the Company first demonstrates to the reasonable satisfaction of the Lenders and their legal counsel that at the time of such redemption or conversion the Lenders will be fully reimbursed for all drawings on the Letters of Credit in connection with such redemption or conversion.
Appears in 4 contracts
Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp), Credit, Reimbursement and Security Agreement (Multi Color Corp), Credit, Reimbursement and Security Agreement (Multi Color Corp)
LIMITATION ON OPTIONAL CALLS. Exercise its rights under the Bond Documents to direct the Issuer to call the Bonds for any optional redemption thereof or convert the interest rate thereon to the Long Term Rate, unless the Company first demonstrates to the reasonable 80 satisfaction of the Lenders and their legal counsel that at the time of such redemption or conversion the Lenders will be fully reimbursed for all drawings on the Letters of Credit in connection with such redemption or conversion.
Appears in 1 contract
Samples: Credit, Reimbursement and Security Agreement (Multi Color Corp)
