Bank Termination Date definition

Bank Termination Date means the first date on which all of the following conditions are satisfied: (i) all commitments to extend credit under any Credit Agreement shall have expired or been terminated, (ii) all Non-Contingent Secured Obligations arising under any of the Credit Agreements shall have been paid in full, and (iii) no Contingent Secured Obligation shall remain outstanding under any of the Credit Agreements, other than any indemnity claims that have not been asserted on or prior to such date.

Bank Termination Date has the meaning assigned to that term in Section 5.18(b).

Bank Termination Date means the first date on which all of the following conditions are satisfied:

Examples of Bank Termination Date in a sentence

• On a Bank Termination Date, the applicable Successor Bank (or Successor Banks, as applicable) shall succeed to the L/C Interests of the Terminated Bank, and the Terminated Bank shall thereafter cease to have any L/C Interest or any participation in, or liability for any drawings made under, any Letter of Credit.

• The obligation of each Fronting Bank to issue, amend and extend Letters of Credit shall terminate on such Fronting Bank’s Fronting Bank Termination Date.

• A Successor Bank shall be subject to the Syndicated Reduction (or, in the case of more than one Successor Bank, its ratable share of the Syndicated Reduction) of the Terminated Bank it succeeds upon the Bank Termination Date applicable to such successor.

• The Guarantee of each Guarantor will be released on the earlier of (i) any Investment Grade Date, and (ii) the Bank Termination Date.

• If the Guarantor makes a payment with respect to a Guaranteed Obligation hereunder, the Guarantor shall be subrogated to the rights of the payee against the relevant Obligor with respect to such payment; provided that the Guarantor shall not enforce any payment by way of subrogation against such Obligor or by reason of contribution against any other guarantor of such Guaranteed Obligation, until the Bank Termination Date.

More Definitions of Bank Termination Date

Bank Termination Date shall have the meaning set forth in the Liquidity Agreement.

Bank Termination Date means the first date on which all of the following conditions are satisfied: (i) all commitments to extend credit under any Credit Agreement shall have expired or been terminated, (ii) all Non-Contingent Secured Obligations (as defined in the U.S. Security Agreement) arising under any of the Credit Agreements shall have been paid in full, and (iii) no Contingent Secured Obligation (as defined in the U.S. Security Agreement) shall remain outstanding under any of the Credit Agreements, other than any indemnity claims that have not been asserted on or prior to such date.

Bank Termination Date means the earliest to occur of (i) the date of the occurrence of a Termination Event described in Section 8.1(f), (ii) the date that the Agent designates as the Bank Termination Date in a written notice to the Borrower given at any time after the occurrence of any other Termination Event, (iii) that Business Day designated by the Borrower as the Bank Termination Date with no less than five (5) Business Days prior written notice to the Agent, and (iv) December 22, 1999.

Bank Termination Date appearing in Section 1.1 of the Loan Agreement is deleted and replaced with the date "December 20, 2000".

Bank Termination Date means that date occurring after the Effective Date upon which the Total Revolving Loan Commitment and all Letters of Credit shall have terminated and all Loans, Notes and Unpaid Drawings, together with interest, Fees and all other Obligations incurred hereunder and thereunder, are paid in full to the Banks; provided that if any amount so received by the Banks must be disgorged by them, then the Bank Termination Date shall be deemed to have not occurred until such future time as the foregoing conditions are once again satisfied.

Bank Termination Date means the date on which the "Obligations" under and as defined in the Bank Credit Agreement have been paid and satisfied in full.

Bank Termination Date apearing in Section 1.1 of the Loan Agreement is deleted and replaced with the date "February 19, 2002."