Common use of Subsequent Disbursements and Letters of Credit Clause in Contracts

Subsequent Disbursements and Letters of Credit. Prior to requesting subsequent disbursements under the Loans (subsequent to the first disbursement) or Letters of Credit hereunder (subsequent to the first Letter of Credit), the Borrower shall execute and deliver to the Administrative Agent all of the following items, in form and substance satisfactory to the Administrative Agent. The Administrative Agent and the Banks shall have no obligation to make further disbursements or issue additional Letters of Credit until all of these items have been properly executed and delivered to the Administrative Agent.

Subsequent Disbursements and Letters of Credit. Prior to requesting subsequent disbursements under the Revolving Loans (subsequent to the first disbursement) or Letters of Credit hereunder (subsequent to the first Letter of Credit), the Borrower shall execute and deliver to the Administrative Agent all of the following items, in form and substance satisfactory to the Administrative Agent. The Administrative Agent and the Banks shall have no obligation to make further disbursements or issue additional Letters of Credit until all of these items have been properly executed and delivered to the Administrative Agent. There shall be no disbursement of the Term Loan after the first disbursement.