Examples of LC Reimbursement Agreement in a sentence
No provision hereof shall be deemed to waive or limit the Borrower’s right to seek repayment of any payment of any L/C Reimbursement Obligations from the applicable L/C Issuer under the terms of the applicable L/C Reimbursement Agreement or applicable law.
No provision hereof shall be deemed to waive or limit the Borrower’s right to seek repayment of any payment of any L/C Reimbursement Obligations from the L/C Issuer under the terms of the applicable L/C Reimbursement Agreement or applicable law.
Nothing herein shall excuse a L/C Issuer for liability for direct, as opposed to special, indirect, punitive consequential or exemplary, damages to the extent such liability has resulted from the bad faith, gross negligence or willful misconduct of such L/C Issuer under the terms of the applicable L/C Reimbursement Agreement as determined by a court of competent jurisdiction in a final non-appealable judgment or order.
Each Issuing Bank further agrees to provide the Administrative Agent, in form and substance satisfactory to the Administrative Agent, upon the request of the Administrative Agent (or any Revolving Lender through the Administrative Agent), copies of any Letter of Credit Issued by such Issuing Bank and any related L/C Reimbursement Agreement and such other documents and information as may reasonably be requested by the Administrative Agent.
The scheduled expiration date of the Letter of Credit, which was originally May 13, 2010, was extended to May 10, 2013 (the “Expiration Date”), pursuant to an Amendment No. 1 to Letter of Credit and Reimbursement Agreement, dated as of February 1, 2010 (together with the 2008 LC Reimbursement Agreement, the “Reimbursement Agreement”), by and between State Street and the Former RDA.
The Letter of Credit was originally due to expire on November 22, 2011, but has been extended several times by amendments to the PNC LC Reimbursement Agreement.
Upon receipt by the applicable Issuing Bank of the L/C Reimbursement Agreement, in form and substance reasonably acceptable to such Issuing Bank and duly executed by the Borrower, the applicable Issuing Bank will Issue the requested Letter of Credit only in accordance with such Issuing Bank’s standard operating procedures.
PNC alleges that EOGH’s obligations pursuant to the PNC LC Reimbursement Agreement are secured by a pledge of EOGH’s Gross Receipts (as defined in the PNC Prepetition Loan Agreement and the PNC LC Reimbursement Agreement).
No provision hereof shall be deemed to waive or limit the Borrowers’ right to seek repayment of any payment of any L/C Reimbursement Obligations from the L/C Issuer under the terms of the applicable L/C Reimbursement Agreement or applicable law.
PNC alleges that, to further secure the PNC LC Reimbursement Agreement, and to secure all PNC Prepetition Obligations, EOGH entered into that certain Pledge Agreement dated September 10, 2012, with PNC (“ PNC Pledge Agreement”), pursuant towhich EOGH pledged all of its right, title and interest in the monies on deposit in EOGH’s bank account number xxxxxx8486, which is maintained at PNC (“PNC Pledged Account”).