Examples of Existing Financing Agreement in a sentence
The Issuing Bank and the Account Parties agree that so long as the Issuing Bank is an Issuing Lender (as defined in the Existing Financing Agreement) no fronting fee will be due and owing under the Existing Financing Agreement in respect of any Letter of Credit issued hereunder and subsequently transferred to the Existing Financing Agreement until the one year anniversary of the payment of the Set-Up Fee for the issuance or extension of such Letter of Credit.
SRAC may, upon three (3) Business Days written notice (a “Transfer Notice”) to the Issuing Bank, request that any or all of the Letters of Credit issued under this Agreement be deemed issued under the Existing Financing Agreement.
All other defined terms used in Section 5.01(n) shall be as defined in the Existing Financing Agreement, as in effect on the date hereof.
Section 5.01(n) of the Existing Financing Agreement, as in effect on the date hereof, shall remain incorporated herein by reference even if the Existing Financing Agreement is amended, terminated, modified, restated, or replaced.
The Letters of Credit issued hereunder will be used (a) to replace or collateralize Standby Letters of Credit issued under the Existing Financing Agreement or (b) for general corporate purposes.