Common use of Responsibilities of the Agent; Issuance Clause in Contracts

Responsibilities of the Agent; Issuance. Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers pursuant to Section 2.18(c)(i), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers in connection with the opening thereof would not exceed the Excess Availability, Agent shall, so long as the other conditions hereof and of Section Six are met, cause the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 7 contracts

Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)

AutoNDA by SimpleDocs

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability of the Borrower as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall take reasonable steps to cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 5 contracts

Samples: Loan and Security Agreement (Sweetheart Holdings Inc \De\), Loan and Security Agreement (Sweetheart Holdings Inc \De\), Loan and Security Agreement (United States Leather Inc /Wi/)

Responsibilities of the Agent; Issuance. Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers pursuant to Section 2.18(c)(isubparagraph 2.18(c)(1), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Availability and Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers in connection with the opening thereof would not exceed the Excess Availability, Agent shall, so long as the other conditions hereof and of Section Six are met, cause the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 3 contracts

Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.3(d)(i), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Combined Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess Combined Availability, the Agent shall, subject to the terms and conditions hereof, cause the Letter of Credit Issuer to issue the requested Letter of Credit on such requested effective date of issuance so long as the other conditions hereof and of Section Six here are met, cause the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 3 contracts

Samples: Loan and Security Agreement (Eddie Bauer Holdings, Inc.), Loan and Security Agreement (Eddie Bauer Holdings, Inc.), Loan and Security Agreement (Eddie Bauer Holdings, Inc.)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall take reasonable steps to cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Centrum Industries Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.3(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower and the other Loan Parties in connection with the opening thereof would not exceed the Excess Availability, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall take reasonable steps to cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Gt Bicycles Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(iSECTION 2.4(d)(1), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess Availability, the Agent shall, so long as the other conditions hereof and of Section Six are met, cause the Letter of Credit Issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to this Section 2.18(c)(i2.3(d), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower nor would cause the Aggregate Revolver Outstandings to exceed the Maximum Revolver Amount, the Agent shall, so long as the other conditions hereof and of Section Six are met, cause shall issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Weirton Steel Corp)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers a Borrower pursuant to Section 2.18(c)(i2.4(d)(i), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (iY) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (iiZ) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess Availability, Availability the Agent shall, so long as the other conditions hereof and of Section Six are met, issue or cause the Letter of Credit Issuer, if not the Bank, to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Parker Drilling Co /De/)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.3(d)(1), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess Availability, the Agent shall, so long as the other conditions hereof and of Section Six are met, cause the Letter of Credit Issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Anchor Glass Container Corp /New)

AutoNDA by SimpleDocs

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.2A(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability of the Borrower as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall take reasonable steps to cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan Agreement (Edison Brothers Stores Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the applicable Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would not exceed the Excess Availability, the Agent shall, so long as the other conditions hereof and of Section Six are met, cause the Letter of Credit Issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Eftc Corp/)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall issue or cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Riddell Sports Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(iSECTION 2.4(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall issue or cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Riddell Sports Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (A) the amount of the applicable Unused Letter of Credit Subfacility and (B) the Excess Availability as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, issue or cause the Letter of Credit Issuer, if not the Bank, to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Micro Devices Inc)

Responsibilities of the Agent; Issuance. The Agent shall determine, as of the Business Day immediately preceding the requested effective date of issuance of the Letter of Credit set forth in the notice from Borrowers the Borrower pursuant to Section 2.18(c)(i2.4(d)(1), (Ai) the amount of the applicable Unused Letter of Credit Subfacility and (Bii) the Excess Availability of the Borrower as of such date. If (i) the undrawn amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility and (ii) the amount issuance of such requested Letter of Credit and all commissions, fees, and charges due from Borrowers the Borrower in connection with the opening thereof would not exceed the Excess AvailabilityAvailability of the Borrower, the Agent shall, so long as the other conditions hereof and of Section Six are met, shall cause such issuer to issue the requested Letter of Credit to be issued on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Revlon Consumer Products Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.