Common use of Terms of Letters of Credit Clause in Contracts

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any Subsidiary. All Letters of Credit must expire not later than the Banking Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 3 contracts

Samples: Credit Agreement (Universal Electronics Inc), Credit Agreement (Universal Electronics Inc), Credit Agreement (Universal Electronics Inc)

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Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any SubsidiaryBorrowers’ Agent in accordance with Section 2.16. Unless the proposed Letter of Credit is cash collateralized, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any Subsidiary. All Letters each Letter of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Termination Date and no Letter of Credit may have a term longer than 12 months.

Appears in 2 contracts

Samples: Credit Agreement (Golden Oval Eggs LLC), Credit Agreement (Golden Oval Eggs LLC)

Terms of Letters of Credit. Revolving Commitment -------------------------- Letters of Credit shall be issued in support of obligations of any Borrower incurred in the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs ordinary course of the Borrower or any Subsidiarytheir respective businesses. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (Panther Transport Inc)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Termination Date. No standby Letter of Credit may have a term longer than 12 monthstwelve months (except for standard “evergreen” Letters of Credit containing automatic extension provisions in form acceptable to the Agent).

Appears in 1 contract

Samples: Credit Agreement (Marten Transport LTD)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Credit Expiration Date, unless Cash Collateralized. No standby Letter of Credit may have a term longer than 12 monthsmonths unless otherwise agreed by the Bank.

Appears in 1 contract

Samples: Credit Agreement (MGC DIAGNOSTICS Corp)

Terms of Letters of Credit. Letters of Credit shall be -------------------------- issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and incurred in connection with its general business needs of the Borrower or any Subsidiarypurposes. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (Lecg Corp)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance its Subsidiaries incurred in the working capital and business needs ordinary course of the Borrower or any Subsidiarytheir business. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 twenty-four months.

Appears in 1 contract

Samples: Credit Agreement (Graco Inc)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any Subsidiarya Corporate Borrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Maturity Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (WTC Industries Inc)

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Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 twelve months.

Appears in 1 contract

Samples: Credit Agreement (Marten Transport LTD)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower Borrower, other than obligations related to the borrowing of money or any Subsidiaryobtaining of other financing, contingent or otherwiseincurred in the ordinary course of its business. Subject to Section 2.5, and to finance the working capital and business needs of the Borrower or any Subsidiary. All all Letters of Credit must expire not later than the Banking Day preceding the Revolving Commitment Ending Termination Date. No standby Letter of Credit may have a term longer than 12 twelve months.

Appears in 1 contract

Samples: Credit Agreement (Lawson Software Inc)

Terms of Letters of Credit. Letters of Credit shall be -------------------------- issued in support of obligations of any Borrower incurred in the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs ordinary course of the Borrower or any Subsidiarytheir respective businesses. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (Omega Cabinets LTD)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Business Day preceding the Revolving Commitment Ending Termination Date. No standby Letter of Credit may have a term longer than 12 monthstwelve months (except for standard "evergreen" Letters of Credit containing automatic extension provisions in form acceptable to the Agent).

Appears in 1 contract

Samples: Credit Agreement (Marten Transport LTD)

Terms of Letters of Credit. Letters of Credit shall be issued in support of obligations of the Borrower or any Subsidiary, contingent or otherwise, and to finance the working capital and business needs of the Borrower or any SubsidiaryBorrower. All Letters of Credit must expire not later than the Banking Day preceding the Revolving Commitment Ending Date. No standby Letter of Credit may have a term longer than 12 months.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

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