Common use of Transitional Letters of Credit Clause in Contracts

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower prior to the Closing Date. Subject to the satisfaction of the conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article III.

Appears in 5 contracts

Samples: Credit Agreement (Quixote Corp), Credit Agreement (Woodward Governor Co), Subsidiary Stock Pledge Agreement (Quixote Corp)

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Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company prior to the Closing DateDate (the “Transitional Letters of Credit”). Subject to the satisfaction of the conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article III.

Appears in 5 contracts

Samples: Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.)

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company or any Subsidiary prior to the Closing Date. Subject to the satisfaction of the conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article III.

Appears in 4 contracts

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

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company prior to the Closing Date. Subject to the satisfaction of the conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article III.

Appears in 2 contracts

Samples: Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward Governor Co)

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company prior to the Closing Date. Subject to the satisfaction of the applicable conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article IIIIII for all purposes hereunder (each such Letter of Credit, a “Transitional Letter of Credit”). For purposes of clarification, each term or provision applicable to the issuance of a Letter of Credit (including conditions applicable thereto) shall be deemed to include the deemed issuance of the Transitional Letters of Credit on the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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Transitional Letters of Credit. Schedule SCHEDULE 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower prior to the Closing Date. Subject to the satisfaction of the conditions contained in Sections SECTIONS 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article ARTICLE III.

Appears in 1 contract

Samples: Credit Agreement (Woodward Governor Co)

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company prior to the Closing Date. Subject to the satisfaction of the applicable conditions contained in Sections 5.1 and 5.2, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article IIIIII for all purposes hereunder (each such Letter of Credit, a “Transitional Letter of Credit”). For purposes of clarification, each term or provision applicable to the issuance of a Letter of Credit (including conditions applicable thereto) shall be deemed to include the deemed issuance of the Transitional Letters of Credit on the Closing Date. 3.3.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

Transitional Letters of Credit. Schedule 3.2 contains a schedule of certain letters of credit issued for the account of the Borrower Company prior to the Closing Date. Subject to the satisfaction of the applicable conditions contained in Sections 5.1 5.1, 5.2 and 5.25.3, from and after the Closing Date such letters of credit shall be deemed to be Letters of Credit issued pursuant to this Article IIIIII for all purposes hereunder (each such Letter of Credit, a “Transitional Letter of Credit”). For purposes of clarification, each term or provision applicable to the issuance of a Letter of Credit (including conditions applicable thereto) shall be deemed to include the deemed issuance of the Transitional Letters of Credit on the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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