Common use of Terms of Letters of Credit Clause in Contracts

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 15 contracts

Samples: Revolving Credit Agreement (Genrad Inc), Revolving Credit Agreement (Restaurant Co), Revolving Credit Agreement (Flextronics International LTD)

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Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an original expiry date no later than the date which is three hundred sixty-five (365) days from the date of issuance and (c) have a final expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) Business Days prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Trico Marine Services Inc), Revolving Credit Agreement (Trico Marine Services Inc), Revolving Credit Agreement (Trico Marine Services Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 4 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit Agreement (American Restaurant Group Inc), Revolving Credit and Term Loan Agreement (Hvide Marine Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Digitas Inc), Revolving Credit Agreement (Brooks Automation Inc), Revolving Credit Agreement (Ionics Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen thirty (1430) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five sixty (4560) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 2 contracts

Samples: Credit Agreement (Transtechnology Corp), Credit Agreement (Transtechnology Corp)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 2 contracts

Samples: Credit Agreement (Griffin Land & Nurseries Inc), Revolving Credit Agreement (Terex Corp)

Terms of Letters of Credit. Each Letter of Credit issued, -------------------------- extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five thirty (4530) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit issued on or after January 1, 1999, either the Uniform Customs or International Standby Practices.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P), Revolving Credit and Term Loan Agreement (Petro Stopping Centers Holdings Lp)

Terms of Letters of Credit. Each Letter of Credit issued, -------------------------- extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit Agreement (Fairfield Communities Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit Agreement (Bradley Real Estate Inc)

Terms of Letters of Credit. Each Letter of Credit -------------------------- issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan A Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Holmes Group Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Commitment Expiry Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Multicurrency Revolving Credit and Term Loan Agreement (Dynatech Corp)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, things (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit Agreement (Grove Property Trust)

Terms of Letters of Credit. Each Letter of Credit issued, ----- -- ------- -- ------ extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Conversion Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Sterling Commerce Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cabot Microelectronics Corp)

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Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer confirming bank or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ameriking Inc)

Terms of Letters of Credit. Each Letter of Credit -------------------------- issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five thirty (4530) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit issued on or after January 1, 1999, either the Uniform Customs or International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)

Terms of Letters of Credit. Each Letter Letters of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer confirming bank or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hbo & Co)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit issued on or after January 1, 1999, either the Uniform Customs or the International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit Agreement (Appnet Systems Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer confirming bank or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.Uniform

Appears in 1 contract

Samples: Revolving Credit Agreement (Jordan Telecommunication Products Inc)

Terms of Letters of Credit. Each Letter of Credit -------------------------- issued, extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-forty- five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit Agreement and Security Agreement (Bankvest Capital Corp)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Credit Loan Maturity first anniversary of the Term Out Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform CustomsCustoms or, in the case of a standby Letter of Credit, either the Uniform Customs or the International Standby Practices.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Morgan Group Inc)

Terms of Letters of Credit. Each Letter of Credit issued, extended or renewed hereunder shall, among other things, (a) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (b) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-five (45) days) prior to the Revolving Letter of Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Perkins Family Restaurants Lp)

Terms of Letters of Credit. Each Letter of Credit issued, -------------------------- extended or renewed hereunder shall, among other things, (ai) provide for the payment of sight drafts for honor thereunder when presented in accordance with the terms thereof and when accompanied by the documents described therein, and (bii) have an expiry date no later than the date which is fourteen (14) days (or, if the Letter of Credit is confirmed by a confirmer or otherwise provides for one or more nominated persons, forty-forty- five (45) days) prior to the Revolving Credit Loan Maturity Date. Each Letter of Credit so issued, extended or renewed shall be subject to the Uniform Customs.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)

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