Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion): (a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01); or (b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (b) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 4 contracts
Samples: Credit Agreement (Energizer Holdings Inc), Credit Agreement (Energizer SpinCo, Inc.), Escrow Agreement (Energizer Holdings Inc)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):shall:
(ai) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (ia) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, or (iib) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01)$25,000,000; or
(bii) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (ia) one (1) year after the date of issuance thereof or (iib) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A1) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (b) above) and (B2) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0105% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Energizer Holdings Inc), Revolving Credit Agreement (Energizer Holdings Inc)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(ca)(iii) below, in which case the applicable Issuing Bank may, in its sole discretion):
): (a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section Schedule 2.01); or
or (b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (bb)(ii) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 2 contracts
Samples: Credit Agreement (Energizer Holdings, Inc.), Credit Agreement (Energizer Holdings, Inc.)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):
(a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01); or
(b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (bb)(ii) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to on or before the Revolving Loan Termination Datedate such Letter of Credit is issued.
Appears in 2 contracts
Samples: Refinancing Amendment (Inovalon Holdings, Inc.), Credit Agreement (Inovalon Holdings, Inc.)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c(a)(iii) below, in which case the applicable Issuing Bank may, in its sole discretion):
(a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section Schedule 2.01); or
(b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (b(b)(ii) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 2 contracts
Samples: Incremental Term Loan Amendment and Refinancing Amendment (Energizer Holdings, Inc.), Credit Agreement (Energizer Holdings, Inc.)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):shall:
(aA) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Dollar Amount of the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount Dollar Amount of the L/C Obligations would exceed the Letter of Credit L/C Sublimit or (iii) the aggregate outstanding amount Dollar Amount of the L/C Obligations under Letters of any Lender’s Revolving Credit issued by such Issuing Bank Exposure would exceed such Issuing BankLender’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01)Revolving Loan Commitment; or
(bB) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (ix) one (1) year after the date of issuance thereof or (iiy) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided provided, that (A) any Letter of Credit with a one-year tenor term may provide for the renewal thereof for additional one-year periods (which shall in no event shall extend beyond the date referred to in clause (by) above) and (B) a ); provided further, that any Letter of Credit may expire up to have a later expiration date (but in no event later than the date that is one year beyond after the Revolving Loan Termination Date Date) so long as the Borrower Company cash collateralizes 105.0such Letter of Credit on terms reasonably satisfactory to the Administrative Agent and in an amount equal to 105% of the face amount of such Letter of Credit thereof no later than thirty ten (3010) days Business Days prior to the Revolving Loan Termination Date.
Appears in 1 contract
Samples: Credit Agreement (Steelcase Inc)
Types and Amounts. No The Issuing Bank shall not have any obligation to to, and no the Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):not:
(aA) issue any Letter of Credit if on the date of issuanceissuance (or amendment), before or after giving effect to the Letter of Credit requested hereunder, (i) the Dollar Amount of the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment minus the Participation Reserve at such time, (ii) the aggregate outstanding amount Dollar Amount of the Revolving Credit Obligations denominated in Agreed Currencies other than Dollars at such time would exceed the Foreign Currency Sublimit, (iii) the aggregate L/C Obligations would exceed the Letter of Credit Sublimit $100,000,000 or (iiiiv) the aggregate outstanding amount of the L/C Facility Obligations under Letters of Credit issued by such Issuing Bank Amount would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01)the Collateral Value Amount; or
(bB) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (ix) one (1) year after the date of issuance thereof or (iiy) five (5) Business Days immediately preceding the Non-Extended Revolving Loan Termination DateDate for any Issuing Bank that is a Non-Extending Lender, and the Extended Revolving Loan Termination Date for any Issuing Bank that is an Extending Lender; provided provided, that (A) any Letter of Credit with a one-year tenor term may provide for the renewal thereof for additional one-year periods (which shall in no event shall extend beyond the date referred to in clause (by) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date).
Appears in 1 contract
Samples: Credit Agreement (Arvinmeritor Inc)
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):
(a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section Schedule 2.01); or
(b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (bb)(ii) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 1 contract
Types and Amounts. No The Issuing Bank shall not have any obligation to to, and no the Issuing Bank shall (except in the case of clause (i)(c) below, in which case the applicable Issuing Bank may, in its sole discretion):not:
(aA) issue any Letter of Credit if on the date of issuanceissuance (or amendment), before or after giving effect to the Letter of Credit requested hereunder, (i) except as permitted by Section 2.4(B), (w) the Dollar Amount of the 2019 Revolving Credit Obligations at such time would exceed the Aggregate 2019 Revolving Loan Commitment at such time, (iix) the Dollar Amount of any Lender’s 2019 Revolving Credit Obligations would exceed such Lender’s 2019 Revolving Loan Commitment, (y) the Dollar Amount of the 2019 Revolving Credit Obligations denominated in Agreed Currencies other than Dollars at such time would exceed the Foreign Currency Sublimit, or (z) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit $100,000,000 or (iiiii) the aggregate outstanding amount of the L/C Facility Obligations under Letters of Credit issued by such Issuing Bank Amount would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section 2.01)the Collateral Value Amount; or
(bB) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (ix) one (1) year after the date of issuance thereof or (iiy) five (5) Business Days immediately preceding the 2019 Revolving Loan Termination Date; provided provided, that (A) any Letter of Credit with a one-year tenor term may provide for the renewal thereof for additional one-year periods (which shall in no event shall extend beyond the date referred to in clause (by) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date).
Appears in 1 contract
Types and Amounts. No Issuing Bank shall have any obligation to and no Issuing Bank shall (except in the case of clause (i)(ca)(iii) below, in which case the applicable Issuing Bank may, in its sole discretion):
(a) issue any Letter of Credit if on the date of issuance, before or after giving effect to the Letter of Credit requested hereunder, (i) the Revolving Credit Obligations at such time would exceed the Aggregate Revolving Loan Commitment at such time, (ii) the aggregate outstanding amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (iii) the aggregate outstanding amount of the L/C Obligations under Letters of Credit issued by such Issuing Bank would exceed such Issuing Bank’s Letter of Credit Fronting Sublimit (as set forth on Section Schedule 2.01); or
(b) issue any Letter of Credit which has an expiration date later than the date which is the earlier of (i) one (1) year after the date of issuance thereof or (ii) five (5) Business Days immediately preceding the Revolving Loan Termination Date; provided that (A) any Letter of Credit with a one-year tenor may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (bb)(ii) above) and (B) a Letter of Credit may expire up to one year beyond the Revolving Loan Termination Date so long as the Borrower cash collateralizes 105.0% of the face amount of such Letter of Credit no later than thirty (30) days prior to the Revolving Loan Termination Date.
Appears in 1 contract