Qualified Borrower Loans and Letters of Credit Sample Clauses

Qualified Borrower Loans and Letters of Credit. The obligation of each Lender and the Letter of Credit Issuer, as applicable, to advance a Loan (or to cause the issuance of a Letter of Credit) to a Qualified Borrower (which has not previously satisfied the conditions contained in this Section 7.03 or is not a Qualified Borrower as of the date of this Credit Agreement) is subject to the conditions that:
AutoNDA by SimpleDocs
Qualified Borrower Loans and Letters of Credit. The obligation of Lenders to advance a Borrowing to a Qualified Borrower or to cause the issuance of a Letter of Credit for a Qualified Borrower is subject to the conditions that:
Qualified Borrower Loans and Letters of Credit. The obligation of the Lenders to advance each Borrowing to a Qualified Borrower in any Fund Group and the Letter of Credit Issuer to issue each Letter of Credit hereunder for a Qualified Borrower in any Fund Group is subject to the conditions precedent that:

Related to Qualified Borrower Loans and Letters of Credit

  • First Loans and Letters of Credit On the Closing Date:

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender 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.

  • New Letters of Credit So long as any Lender is a Defaulting Lender, no Issuing Bank 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!