New Swing Line Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any new Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless the Borrower shall have Cash Collateralized such Issuing Lender’s future Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.16.
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Samples: Credit Agreement (Alaska Communications Systems Group Inc), Credit Agreement (Alaska Communications Systems Group Inc), Credit Agreement (Alaska Communications Systems Group Inc)
New Swing Line Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any new Swing Line Loans unless it is satisfied that it will have no Fronting Exposure to such Defaulting Lender after giving effect to such Swing Line Loan and the reallocation set forth in Section 5.15(a)(iv) and (ii) no Issuing Lender Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless the Borrower shall it will have Cash Collateralized such Issuing Lender’s future no Fronting Exposure with respect to such Defaulting Lender after giving effect thereto and the reallocation set forth in accordance with Section 2.165.15(a)(iv).
Appears in 3 contracts
Samples: Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc), Credit Agreement (Ingram Micro Inc)
New Swing Line Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any new Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan (after giving effect to any reallocation described in this Section 2.16) and (ii) no Issuing Lender L/C Issuer shall be required to issue, extend, increase, reinstate or renew or increase any Letter of Credit unless the Borrower shall it will have Cash Collateralized such Issuing Lender’s future no Fronting Exposure with respect after giving effect thereto (after giving effect to such Defaulting Lender any reallocation described in accordance with this Section 2.16).
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New Swing Line Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any new Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no Issuing Lender L/C Issuer shall be required to issue, extend, increase, reinstate or renew or increase any Letter of Credit unless the Borrower shall in each case it is satisfied that it will have Cash Collateralized such Issuing Lender’s future no Fronting Exposure with respect after giving effect thereto and after giving effect to such Defaulting Lender in accordance with clause (b)(iv) of this Section 2.162.17.
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