Examples of Prepetition Letters of Credit in a sentence
On the Effective Date, the Prepetition Term Loans and accrued and unpaid interest thereon and any other Prepetition Obligations (other than the Prepetition Letters of Credit or the Allocated Amounts thereof) in the Roll-Up Loan Amount shall be deemed Loans made under this Agreement (the “Roll-Up Loans”) and, subject to the terms and conditions set forth herein and without any further action by any party to this Agreement, shall be administered hereunder.
The Prepetition Letters of Credit (or the Allocated Amount thereof) shall, from and after the Effective Date, be deemed to have been issued pursuant to this Agreement, and from and after the Effective Date shall be subject to and governed by the terms and conditions hereof.
All fees payable with respect to such Prepetition Letters of Credit accruing through the Closing Date shall be paid on the Closing Date.
Immediately upon issuance of any Letter of Credit in accordance with Section 1.4(d) (including the Prepetition Letters of Credit rolled into this Agreement in accordance with Section 1.4), each LC Lender shall be deemed to have irrevocably and unconditionally purchased and received without recourse or warranty, an undivided interest and participation equal to such LC Lender's Pro Rata Share of the face amount of such Letter of Credit.
In addition to the discharge and discharge injunction, the Plan provided that, Prepetition Letters of Credit shall continue to collateralize all obligations under Insurance Policies and Agreements .