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 a Borrower pursuant to Section 2.4(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such Borrower in connection with the opening thereof would not exceed the Availability of such Borrower, the Agent shall take reasonable steps to cause such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

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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 a the Borrower pursuant to Section 2.4(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such the Borrower in connection with the opening thereof would not exceed the Availability of such the Borrower, the Agent shall take reasonable steps to cause such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Revlon Consumer Products 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 a the Borrower pursuant to Section 2.4(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such the Borrower in connection with the opening thereof would not exceed the Availability of such the Borrower, the Agent shall take reasonable steps to cause such issuer to issue the requested Letter of Credit 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 a the Borrower pursuant to Section 2.4(d)(12.3(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such the Borrower and the other Loan Parties in connection with the opening thereof would not exceed the Availability of such BorrowerAvailability, the Agent shall take reasonable steps to cause such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan and Security Agreement (Gt Bicycles Inc)

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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 a the Borrower pursuant to Section 2.4(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such the Borrower in connection with the opening thereof would not exceed the Availability of such the Borrower, the Agent shall take reasonable steps to issue or cause such issuer to issue the requested Letter of Credit 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 a the Borrower pursuant to Section SECTION 2.4(d)(1), (i) the amount of the applicable Unused Letter of Credit Subfacility and (ii) the Availability of such 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 issuance of such requested Letter of Credit and all commissions, fees, and charges due from such the Borrower in connection with the opening thereof would not exceed the Availability of such the Borrower, the Agent shall take reasonable steps to issue or cause such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

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

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