Trade Letters of Credit Sample Clauses

Trade Letters of Credit. All trade or documentary Letters of Credit issued by Agent for the account of any Loan Party pursuant to the terms set forth in this Agreement, in connection with the purchase by any Loan Party of goods or services in the ordinary course of business.

Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit with a maturity date of up to one hundred eighty (180) days from the date of issuance ("Trade Letters of Credit") for the account of the Borrower, during the period from the Effective Date to the Revolving Credit Termination Date provided that at no time will the outstanding Trade Letter of Credit Obligations exceed the lesser of (1) Thirty-Five Million Dollars ($35,000,000) less all Standby Letters of Credit, or (2) the Revolving Credit Commitment less outstanding Revolving Credit Loans and Standby Letters of Credit (the "Trade Letter of Credit Commitment"); provided further, that Chase will not be required to issue a Trade Letter of Credit with a maturity date of more than 90 days after the Revolving Credit Termination Date, provided however, all of such outstanding Trade Letters of Credit Obligations, and/or Standby Letters of Credit Obligations as of two days prior to the Revolving Credit Termination Date are cash collateralized at one hundred and five (105%) percent of the face value. Title documents shall be consigned to Chase at Chase's request.

Trade Letters of Credit. The Borrower shall pay with respect to each trade Letter of Credit (i) to the Agent on behalf of the Banks a fee calculated (on the basis of the actual number of days elapsed over a year of 360 days) at the rate per annum equal to the Applicable Margin in effect for Eurodollar Loans times 0.75 on the stated amount of each trade Letter of Credit then outstanding and (ii) to the Fronting Bank such Fronting Bank's customary fees for issuance and processing referred to in Section 2.03.

Trade Letters of Credit. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of Trade Letters of Credit for its own account, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the Revolving Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Trade Letter of Credit, the terms and conditions of this Agreement shall control. Each Trade Letter of Credit is subject to the following terms and conditions: (i) NOTICE OF ISSUANCE, AMENDMENT, RENEWAL, EXTENSION; CERTAIN CONDITIONS. To request the issuance of a Trade Letter of Credit (or the amendment, renewal or extension of an outstanding Trade Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Trade Letter of Credit, or identifying the Trade Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Trade Letter of Credit is to expire (which shall comply with paragraph (a)(ii) of this Section), the amount of such Trade Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Trade Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank's standard form in connection with any request for a Trade Letter of Credit. The Issuing Bank agrees that such terms and conditions shall not contain any financial or operating covenants or require any Lien not otherwise contemplated by this Agreement. A Trade Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Trade Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (A) the Trade LC Exposure shall...

Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit ("Trade Letters of Credit") for the account of the Borrower, from time to time during the period from the Closing Date to the Termination Date, provided that at the time of the issuance of such Trade Letter of Credit (a) the aggregate amount of all outstanding Trade Letters of Credit Obligations does not exceed at any time the Trade Letter of Credit Facility (the "Trade Letter of Credit Commitment") and (b) the aggregate amount of all Revolving Credit Loans plus Letter of Credit Obligations does not exceed the lesser of (A) the Revolving Credit Facility and (B) the then current Borrowing Base. Chase will not be required to issue a Trade Letter of Credit with a maturity date (1) more than one hundred eighty (180) days from the date of issuance of such Trade Letter of Credit, or (2) on or after the Termination Date.

Trade Letters of Credit. Chase agrees, on the terms and conditions hereinafter set forth, to issue trade letters of credit ("Trade Letters of Credit") for the account of any of the Letter of Credit Parties, from time to time during the period from the Closing Date to the Termination Date, provided that at the time of the issuance of such Trade Letter of Credit (a) the aggregate amount of all outstanding Trade Letters of Credit Obligations does not exceed at any time the Trade Letter of Credit Facility (the "Trade Letter of Credit Commitment"); (b) the aggregate amount of all Revolving Credit Loans plus Letter of Credit Obligations does not exceed the lesser of (A) the Revolving Credit Facility and (B) the then current Borrowing Base; and (c) the aggregate amount of all Trade Letter of Credit Obligations issued for the account of Merinta is not in excess of $3,500,000. Chase will not be required to issue a Trade Letter of Credit with a maturity date (1) more than one hundred eighty (180) days from the date of issuance of such Trade Letter of Credit, or (2) on or after the Termination Date. Notwithstanding the foregoing, Trade Letters of Credit established for the account of Merinta shall only be established if Boundless Technologies is a co-account party with respect to such Letter of Credit.

Trade Letters of Credit. The Borrowers shall pay (aa) to the Agent for the ratable account of the Lenders upon issuance of Trade Letters of Credit a non-refundable issuance fee (the "Trade Letter of Credit Issuance Fee") equal to seven and one-half (7-1/2) basis points (.075%) (but not less than seventy-five dollars ($75.00 for each Letter of Credit) and (bb) to the Agent for its own account a nonrefundable fronting fee equal to five (5) basis points (.05%), together with any additional charges imposed by Agent, all such fees being computed on the stated amount of each Trade Letter of Credit (the fees due to Agent pursuant to (bb) immediately above being referred to as the "Agent's Trade Letter of Credit Issuance Fees). The Borrowers shall pay (aa) to the Agent for the ratable account of the Lenders upon negotiation of Trade Letters of Credit a non-refundable negotiation fee (the "Trade Letter of Credit Negotiation Fees") equal to five (5) basis points (.05%) ( but not less than seventy-five dollars ($75.00 for each Letter of Credit) and (bb) to the Agent for its own account a nonrefundable fronting fee equal to seven and one-half (7-1/2) basis points (.075%), together with any additional charges imposed by Agent, all such fees being computed on the stated amount of each Trade Letter of Credit (the fees due to Agent pursuant to (bb) above being referred to as the "Agents Trade Letter of Credit Negotiation Fees"). The Agent shall have no obligation to advance any portion of the Trade Letter of Credit Negotiation Fees or the Trade Letter of Credit Issuance Fees to any Lender who has failed to remit to Agent or Collateral Agent (and Agent may set off such Trade Letter of Credit Issuance Fees against) sums otherwise due Agent or Collateral Agent from such Lender under this Agreement. The Agent shall be entitled to assume that each Lender will fund its ratable share of all sums due under this Agreement unless Agent receives prior written notice from the Collateral Agent or such Lender to the contrary on or before the Business Day prior to the requested funding date.

Trade Letters of Credit. Notwithstanding anything contained in this Section 2.3, Ally, in its capacity as an Issuing Bank, shall be under no obligation to issue (or cause the issuance of) any trade Letters of Credit.

Trade Letters of Credit. (a) A definition of "Trade Letter of Credit" is added in alphabetical order to Section 1.01 of the Credit Agreement to read as follows:

Trade Letters of Credit. Each trade letter of credit issued for the benefit of any Loan Party shall be processed for payment by the Agent or another Lender acceptable to the Agent in its absolute discretion.