New Letters of Credit. So long as any Bank is a Defaulting Bank, no Issuer 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.
Appears in 4 contracts
Samples: Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc), Credit Agreement (Mdu Resources Group Inc)
New Letters of Credit. So long as any Bank is a Defaulting Bank, no L/C Issuer 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.
Appears in 2 contracts
Samples: Credit Agreement (Avon Products Inc), Revolving Credit Agreement (Avon Products Inc)
