Examples of IDRB Letter of Credit in a sentence
Core Molding agrees that it is receiving or will receive a direct pecuniary benefit for the each Loan made and each Letter of Credit and the IDRB Letter of Credit issued hereunder.
The inclusion of the IDRB Letter of Credit in this Agreement shall cause the IDRB Letter of Credit to be risk participated by the Lenders and shall confer upon each Lender the benefits and liabilities of a participation consisting of an undivided pro rata interest in the IDRB Letter of Credit to the extent of such Lender’s Commitment Percentage.
Agent and the Lenders are hereby authorized, at their option, to deduct any and all such amounts from any deposit balances then owing by any Lender (or any affiliate of such Lender, wherever located) to or for the credit or account of Core Molding or any Domestic Guarantor of Payment, as security for the obligations of Core Molding and any Domestic Guarantor of Payment to reimburse Agent and the Lenders for any then outstanding Letters of Credit and the IDRB Letter of Credit.
Borrowers shall have terminated the Loan Agreement (and any documents executed in connection therewith (other than any document related to the IDRB Letter of Credit)), dated as of December 30, 2003, as amended, between Core Molding and KeyBank, which terminations shall be deemed to have occurred upon payment in full of all of the Indebtedness outstanding thereunder.
No Company shall take any action that would result in any non-compliance of the Loans, the IDRB Letter of Credit or the Letters of Credit with Regulations T, U or X, or any other applicable regulation, of the Board of Governors of the Federal Reserve System.
Whenever the IDRB Letter of Credit shall be drawn, the amount drawn shall be reimbursed by Core Molding in accordance with the terms of the Reimbursement Agreement.
Prior to the Closing Date, KeyBank issued the IDRB Letter of Credit for the account of Core Molding.
If the maturity of the Obligations shall be accelerated pursuant to Section 8.1 or 8.2 hereof, Core Molding shall immediately deposit with Agent, as security for the obligations of Core Molding and any Domestic Guarantor of Payment to reimburse Agent and the Lenders for any then outstanding Letters of Credit and the IDRB Letter of Credit, cash equal to the sum of the aggregate undrawn balance of any then outstanding Letters of Credit and the IDRB Letter of Credit.
Neither the granting of any Loan (or any conversion thereof), the IDRB Letter of Credit or any Letter of Credit nor the use of the proceeds of any Loan, the IDRB Letter of Credit or any Letter of Credit will violate, or be inconsistent with, the provisions of Regulation T, U or X or any other Regulation of such Board of Governors.
The aggregate unpaid amount of Loans, types of Loans, Interest Periods and similar information with respect to the Loans, the Letters of Credit and the IDRB Letter of Credit set forth on the records of Agent shall be rebuttably presumptive evidence with respect to such information, including the amounts of principal, interest and fees owing to each Lender.