Common use of Transitional Letter of Credit Provisions Clause in Contracts

Transitional Letter of Credit Provisions. From and after the Closing Date, the letters of credit described on Schedule 2.19.13 (the “Existing Letters of Credit”) shall be deemed to constitute Facility LCs issued pursuant to Section 2.19.1 in which the Lenders participate pursuant to Section 2.19.2. Fees shall accrue in respect of the Existing Letters of Credit as provided in Section 2.19.4 beginning as of the Closing Date.

Appears in 6 contracts

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

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Transitional Letter of Credit Provisions. From and after the Closing Effective Date, the letters of credit described on Schedule 2.19.13 (the “Existing Letters of Credit”) shall be deemed to constitute Facility LCs issued pursuant to Section 2.19.1 in which the Lenders participate pursuant to Section 2.19.2. Fees shall accrue in respect of the Existing Letters of Credit as provided in Section 2.19.4 beginning as of the Closing Effective Date.

Appears in 1 contract

Samples: Credit Agreement (Actuant Corp)

Transitional Letter of Credit Provisions. From and after the Closing Datedate hereof, the letters of credit described on Schedule 2.19.13 (the “Existing Letters of Credit”) shall be deemed to constitute Facility LCs issued pursuant to Section 2.19.1 2.19.1. in which the Lenders participate pursuant to Section 2.19.2. Fees shall accrue in respect of the Existing Letters of Credit as provided in Section 2.19.4 beginning as of the Closing Datedate hereof.

Appears in 1 contract

Samples: Credit Agreement (Actuant Corp)

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Transitional Letter of Credit Provisions. From and after the Closing Date, the letters of credit described on Schedule 2.19.13 2.20 (the “Existing Letters of Credit”) shall be deemed to constitute Facility LCs issued pursuant to Section 2.19.1 2.20.1. in which the Lenders participate pursuant to Section 2.19.22.20.2. Fees shall accrue in respect of the Existing Letters of Credit as provided in Section 2.19.4 2.20.4, beginning as of the Closing DateDate (except as stated in Section 2.20.4 to the contrary).

Appears in 1 contract

Samples: Credit Agreement (Encore Capital Group Inc)

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