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

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 the Parent on behalf of the Borrowers pursuant to Section 2.3(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the 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 issuance 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 Combined Availability, the Agent shall, subject to the terms and conditions hereof, cause the intended issuer of the Letter of Credit to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Metals Inc /De/)

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Responsibilities of the Agent; Issuance. The Agent shall determine, as As of the Business Day immediately preceding the requested effective issuance date of issuance of the Letter of Credit set forth in the notice from the Parent on behalf of the Borrowers a Borrower pursuant to Section 2.3(d)(12.03(d)(i), the Agent shall determine (iA) the amount of the applicable Unused Letter of Credit Subfacility and (iiB) the Combined Availability as of such dateUnused Availability. If (i) the undrawn face amount of the requested Letter of 40 Credit is not greater than the applicable Unused Letter of Credit Subfacility (prior to giving effect to issuance of such requested Letter of Credit) and (ii) the issuance amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would do not exceed the Combined AvailabilityUnused Availability (prior to giving effect to issuance of such requested Letter of Credit), the Agent shall, subject to the terms and conditions hereof, shall cause the intended issuer of the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date if the other conditions hereof and of the application for such requested effective date Letter of issuanceCredit are met.

Appears in 1 contract

Samples: Security Agreement (Jeffboat LLC)

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 the Parent Authorized Representative on behalf of the Borrowers pursuant to Section 2.3(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the 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 issuance 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 Combined Availability, the Agent shall, subject to the terms and conditions hereof, cause the intended issuer of the Letter of Credit Issuer to issue the requested Letter of Credit on such requested effective date of issuanceissuance so long as the other conditions here are met.

Appears in 1 contract

Samples: Loan and Security Agreement (Spiegel 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 the Parent Authorized Representative on behalf of the Borrowers pursuant to Section 2.3(d)(12.3(d)(i), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the 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 issuance 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 Combined Availability, the Agent shall, subject to the terms and conditions hereof, cause the intended issuer of the Letter of Credit Issuer to issue the requested Letter of Credit on such requested effective date of issuanceissuance so long as the other conditions here are met.

Appears in 1 contract

Samples: Loan and Security Agreement

Responsibilities of the Agent; Issuance. The Agent shall determine, as As of the Business Day immediately preceding the requested effective issuance date of issuance of the Letter of Credit set forth in the notice from the Parent on behalf of the Borrowers a Borrower pursuant to Section 2.3(d)(12.03(d)(i), the Agent shall determine (iA) the amount of the applicable Unused Letter of Credit Subfacility and (iiB) the Combined Availability as of such dateUnused Availability. If (i) the undrawn face amount of the requested Letter of Credit is not greater than the applicable Unused Letter of Credit Subfacility (prior to giving effect to issuance of such requested Letter of Credit) and (ii) the issuance amount of such requested Letter of Credit and all commissions, fees, and charges due from the Borrowers in connection with the opening thereof would do not exceed the Combined AvailabilityUnused Availability (prior to giving effect to issuance of such requested Letter of Credit), the Agent shall, subject to the terms and conditions hereof, shall cause the intended issuer of the Letter of Credit Issuer to issue the requested Letter of Credit on the requested issuance date if the other conditions hereof and of the application for such requested effective date Letter of issuanceCredit are met.

Appears in 1 contract

Samples: Loan Agreement (American Barge Line Co)

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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 the Parent on behalf of the Borrowers Borrower pursuant to Section 2.3(d)(12.4(d)(1), (iA) the amount of the applicable Unused ----------------- Letter of Credit Subfacility and (iiB) the 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from the Borrowers Borrower in connection with the opening thereof would not exceed the Combined AvailabilityAvailability of the Borrower, the Agent shall, subject to so long as the terms and other conditions hereofhereof are met, issue or cause the intended issuer of the Letter of Credit Issuer, if not the Bank, to issue the requested Letter of Credit 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 the Parent on behalf of the Borrowers applicable Borrower pursuant to Section 2.3(d)(12.4(d)(1), (iA) the amount of the ------------------ applicable Unused Letter of Credit Subfacility and (iiB) the 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 issuance 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 Combined AvailabilityAvailability of the Borrowers, the Agent shall, subject to so long as the terms and other conditions hereofhereof are met, cause the intended issuer of the Letter of Credit Issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Envirosource Inc)

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