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 applicable Borrower pursuant to Section 2.4(d)(1), (A) the amount of the ------------------ applicable Unused Letter of Credit Subfacility and (B) the 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 Availability of the Borrowers, the Agent shall, so long as the other conditions hereof are met, cause 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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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 applicable Borrower pursuant to Section 2.4(d)(1------- 2.01(c)(1), (Ai) the amount of the ------------------ applicable Unused Letter of ---------- Credit Subfacility and (Bii) the Availability of the Borrower as of such date, and that such issuance will comply with Section ------- 2.01(c)(ii). 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 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 Availability of the BorrowersBorrower, and if such issuance will comply with Section ------- 2.01(c)(ii), then the Agent shall, so long as the other conditions hereof are met, shall take reasonable steps to cause the Letter of Credit Issuer ----------- such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Credit Agreement (Motivepower 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 the applicable Borrower Parent pursuant to Section 2.4(d)(12.2(d)(1), (Ai) the amount of the ------------------ applicable Unused Letter of Credit Subfacility and (Bii) the Availability as of such date. If (A) (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 the Borrowers applicable Borrower in connection with the opening thereof would not exceed Availability as of such date, and (B) the Availability of Agent has received a certificate from the BorrowersParent or such Borrower stating that the applicable conditions set forth in Article 9 have been satisfied, the Agent shall, so long as the other conditions hereof are met, shall take reasonable steps to cause the Letter of Credit Issuer 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 (Laclede Steel 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 the applicable Borrower pursuant to Section 2.4(d)(1), (Ai) the amount of the ------------------ applicable Unused ----------------- Letter of Credit Subfacility and (Bii) the 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 the Borrowers Borrower in connection with the opening thereof would not exceed the Availability of the Borrowers, the Agent shall, so long as the other conditions hereof are met, shall take reasonable steps to cause the Letter of Credit Issuer 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 (Agribiotech 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 the applicable Borrower pursuant to Section 2.4(d)(1), (A) the amount of the ------------------ applicable Unused ----------------- Letter of Credit Subfacility and (B) the 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 the Borrowers Borrower in connection with the opening thereof would not exceed the Availability of the BorrowersBorrower, the Agent shall, so long as the other conditions hereof are met, issue or cause the Letter of Credit Issuer 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 applicable Borrower pursuant to Section 2.4(d)(12.2A(d)(1), (Ai) the amount of the ------------------ applicable Unused Letter of Credit Subfacility and (Bii) the 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 the Borrowers Borrower in connection with the opening thereof would not exceed the Availability of the BorrowersBorrower, the Agent shall, so long as the other conditions hereof are met, shall take reasonable steps to cause the Letter of Credit Issuer such issuer to issue the requested Letter of Credit on such requested effective date of issuance.

Appears in 1 contract

Samples: Loan Agreement (Edison Brothers Stores Inc)

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