Common use of Obligation of Facing Agent to Issue Letter of Credit Clause in Contracts

Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Date and prior to the Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company one or more Letters of Credit (i) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (ii) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a), provided that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 2 contracts

Samples: Credit Agreement (Glatfelter P H Co), Credit Agreement (Glatfelter P H Co)

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Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Revolver Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company applicable Borrower one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company applicable Borrower or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a2.10(a)(i), provided provided, that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 2 contracts

Samples: Pledge Agreement (Crown Holdings Inc), Credit Agreement (Crown Holdings Inc)

Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Multicurrency Revolver Termination Date, following its receipt of the respective Letter of Credit Request, issue issue, subject to Section 2.10(a), for the account of the Company applicable Borrower one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a), provided that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 1 contract

Samples: Credit Agreement (Greif Inc)

Obligation of Facing Agent to Issue Letter of Credit. Each The Facing Agent may agree, in its sole discretion, that it will (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company Borrower one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company Borrower or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a2.9(a), provided that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 1 contract

Samples: Credit Agreement (Compx International Inc)

Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will (subject ---------------------------------------------------- to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Revolver Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a-------- 2.8(a), provided that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the -------- time of such issuance:

Appears in 1 contract

Samples: Credit Agreement (Us Can Corp)

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Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Revolver Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company Borrower one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company Borrower or any of its Subsidiaries as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(aSECTION 2.9(a), provided PROVIDED that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 1 contract

Samples: Credit Agreement (Noveon Inc)

Obligation of Facing Agent to Issue Letter of Credit. Each Facing Agent may agree, in its sole discretion, that it will shall (subject to the terms and conditions contained herein), at any time and from time to time on or after the Closing Initial Borrowing Date and prior to the Revolver Termination Date, following its receipt of the respective Letter of Credit Request, issue for the account of the Company or any of its Subsidiary Borrowers one or more Letters of Credit (ix) in the case of Standby Letters of Credit, in support of such LC Supportable Indebtedness of the Company or any of its Subsidiaries Subsidiary Borrowers as is permitted to remain outstanding without giving rise to an Event of Default or Unmatured Event of Default hereunder and (iiy) in the case of Commercial Letters of Credit, in support of trade obligations as referenced in Section 2.10(a2.9(a), provided that the respective Facing Agent shall be under no obligation to issue any Letter of Credit of the types described above if at the time of such issuance:

Appears in 1 contract

Samples: Credit Agreement (Huntsman Advanced Materials (UK) LTD)

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