Common use of Maximum Letters of Credit Clause in Contracts

Maximum Letters of Credit. In the case of any Letters of Credit requested to be made, after giving effect thereto, the aggregate face amount and reimbursement obligations outstanding in respect of Letters of Credit, when aggregated with all then outstanding Revolving Advances, shall not exceed the Maximum Revolving Advance Amount. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

Appears in 3 contracts

Samples: Credit and Security Agreement (Memry Corp), Credit and Security Agreement (Omni Energy Services Corp), Credit and Security Agreement (Omni Energy Services Corp)

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Maximum Letters of Credit. In the case of any Letters of Credit requested to be made, after giving effect thereto, the aggregate face amount and reimbursement obligations outstanding in respect of Letters of Credit, when aggregated with all then outstanding Revolving Advances, Credit shall not exceed the Maximum Revolving Advance Amountmaximum amount permitted under Section 2.8. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)

Maximum Letters of Credit. In the case of any Letters request for a Letter of Credit requested to be madeCredit, after giving effect thereto, the aggregate face amount and reimbursement obligations outstanding in respect of Letters of CreditCredit (i) shall not exceed the Letter of Credit Sublimit or, (ii) when aggregated with all then outstanding Revolving Advances, shall not exceed the Maximum Revolving Advance Amount. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection Section 10.2 shall have been satisfied.

Appears in 2 contracts

Samples: Credit Agreement (Tecogen Inc.), Credit Agreement (Tecogen Inc.)

Maximum Letters of Credit. In the case of any Letters of Credit requested to be made, after giving effect thereto, the aggregate face amount and reimbursement obligations outstanding in respect of Letters of Credit, when aggregated with all then outstanding Revolving Advances, Credit shall not exceed the Maximum Revolving Advance AmountLetter of Credit Sublimit. Each request for an Advance by any Borrower the Borrowers hereunder shall constitute a representation and warranty by each Borrower the Borrowers as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

Appears in 1 contract

Samples: Loan and Security Agreement (Jaco Electronics Inc)

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Maximum Letters of Credit. In the case of any Letters request for a Letter of Credit requested to be madeCredit, after giving effect thereto, the aggregate face amount and reimbursement obligations outstanding in respect of Letters of CreditCredit (i) shall not exceed the Letter of Credit Sublimit or, (ii) when aggregated with all then outstanding Revolving Advances, shall not exceed the Maximum Revolving Advance Amount. Each request for an Advance by any the Borrower hereunder shall constitute a representation and warranty by each the Borrower as of the date of such Advance that the conditions contained in this subsection Section 10.2 shall have been satisfied.

Appears in 1 contract

Samples: Credit Agreement (Precision Aerospace Components, Inc.)

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