Termination of Letters of Credit. An LC Issuer shall only terminate a given Letter of Credit (in whole or in part) upon receipt of appropriate documentation from the beneficiary thereof or, upon the expiration thereof in accordance with its terms. Funds remaining in the LC Collateral Account to Cash Collateralize such terminated Letter of Credit shall be applied in accordance with clause (n) of this Section 2.04.
Termination of Letters of Credit. An L/C Issuer shall only terminate a given Letter of Credit (in whole or in part) upon receipt of appropriate documentation from the beneficiary thereof or, upon the expiration thereof in accordance with its terms and, promptly thereafter, the Administrative Agent shall return to Seller any Cash-Collateral or other collateral provided in respect of such Letter of Credit in excess of the Required Cash-Collateral Amount for such Letter of Credit.
Termination of Letters of Credit. If the Letters of Credit have not been presented for a draw pursuant to their respective terms, the Letters of Credit shall terminate upon the earlier to occur of the stated expiry date thereof or the date such Letters of Credit are returned to Lender. In no event shall the liens and security interests created by the Loan Documents be released unless or until the Letters of Credit have all been terminated. In the event a Letter of Credit is terminated or the face amount thereof is reduced, or in the event a Letter of Credit has been drawn on by the Beneficiary but Borrower has repaid all amounts due Lender in connection with such draw under Section 3.11(b) above, the amount of such Letter of Credit, if terminated, or the reduced face amount of such Letter of Credit, if applicable (or the amount of such repayment by Borrower), shall be available for disbursement provided no Event of Default has occurred.
Termination of Letters of Credit. Continuation until Lloyd’s Termination Date
Termination of Letters of Credit. NGL Subsidiary shall take all actions necessary to cause the termination of all letters of credit which SemStream is responsible or liable for payment and disclosed on Section 5.20 of the SEM Disclosure Schedule (as updated pursuant to Section 5.25) on or prior to the Closing Date.
Termination of Letters of Credit. All letters of credit described in Section 5.20 shall have been terminated.
Termination of Letters of Credit. At the end of the LC Term, any outstanding Letters of Credit shall be canceled.
Termination of Letters of Credit. Unless terminated earlier in accordance with its terms, or extended pursuant to Section 2.2.3 (Notice of LC Activity), each Letter of Credit shall terminate on the earlier to occur of (a) 12:01 a.m., on the Expiration Date stated therein (which shall be no later than the earlier of the Maturity Date and 15 days following the scheduled expiration of the letter of credit obligations under the Project Document in connection with which such Letter of Credit is to be issued) and (b) cancellation of such Letter of Credit pursuant to Section 2.2.6(b) (Reduction and Reinstatement of Stated Amount).
Termination of Letters of Credit. Each Letter of Credit will provide that it shall be terminated on December 31, 2002 or, if earlier, immediately upon delivery to the issuing bank of a certificate from Alaska or Verizon, as the case may be, which has been countersigned, after prompt consultation with the United States Department of Justice, by an authorized signatory of the FCC (an “Authorized Signatory”), who shall be the Managing Director (or Acting Managing Director) of the FCC, or his or her designee, to the effect that one of the following circumstances has occurred:
Termination of Letters of Credit. Each Letter of Credit will provide that it shall be terminated on December 31, 2002 or, if earlier, immediately upon delivery to the issuing bank of a certificate from Alaska or Verizon, as the case may be, which has been countersigned, after prompt consultation with the United States Department of Justice, by an authorized signatory of the FCC (an Authorized Signatory), who shall be the Managing Director (or Acting Managing Director) of the FCC, or his or her designee, to the effect that one of the following circumstances has occurred: i. The Settlement Agreement has terminated in accordance with the provisions thereof; ii. The LC Provider has paid to the FCC all amounts it is required to pay under Section 17 of the Settlement Agreement; iii. A court of competent jurisdiction has entered an order that is Final, which has the effect of preventing the FCC from granting to the LC Provider its Auction 35 Licenses; or iv. The United States and the Commission have accepted Alternative Security Arrangements. Any required countersignature by the Authorized Signatory shall not be discretionary, and such person shall provide such countersignature if the circumstances set forth in the certificate in question are true and correct. e.
