Examples of Supplemental Letters in a sentence
As used herein, “Letters of Credit” and “Letter of Credit” shall include the Letter of Credit and all Supplemental Letters of Credit (as hereinafter defined) and Replacement Letters of Credit (as hereinafter defined).
Supplemental Letters of Credit and Replacement Letters of Credit shall be issued by a financial institution acceptable to Beneficiary in the exercise of its reasonable discretion, provided, however, Beneficiary shall have no obligation to approve any financial institution which does not have net worth, as determined in accordance with generally accepted accounting principles consistently applied, (“Net Worth”) in excess of Two Hundred Fifty Million Dollars ($250,000,000.00) (“Issuer’s Minimum Net Worth”).
Replacement and Supplemental Letters of Credit may be issued by a substitute "Issuer" reasonably acceptable to Beneficiary; provided that Beneficiary shall have no obligation to approve any person that is not a financial institution with tangible net worth, as determined in accordance with generally accepted accounting principles consistently applied, in excess of Two Hundred Fifty Million Dollars ($250,000,000).
Supplemental Letters of Credit and Replacement Letters of Credit shall be issued by a financial institution acceptable to Beneficiary in the exercise of its reasonable discretion, provided, however, Beneficiary shall have no obligation to approve any financial institution which does not have net worth, as determined in accordance with generally accepted accounting principles consistently applied, (“Net Worth”) in excess of One Billion Dollars ($1,000,000,000.00) (“Issuer’s Minimum Net Worth”).
The 3rd and 4th Supplemental Letters dated 15 September 2005 and 6 April 2006 respectively are hereby cancelled.
Replacement and Supplemental Letters of Credit may be issued by a substitute “Issuer” reasonably acceptable to Beneficiary; provided that Beneficiary shall have no obligation to approve any person that is not a financial institution with tangible net worth, as determined in accordance with generally accepted accounting principles consistently applied, in excess of Two Hundred Fifty Million Dollars ($250,000,000).
The Company and, if relevant, the L/C Subsidiary, jointly and severally, will pay a fee on all outstanding Supplemental Letters of Credit at a per annum rate equal to the Applicable Margin then in effect with respect to Eurodollar Loans under the Supplemental Revolving Credit Facility, shared ratably among the Supplemental Revolving Credit Lenders and payable quarterly in arrears on each L/C Fee Payment Date after the issuance date.
Replacement and Supplemental Letters of Credit may be issued by a substitute " Issuer" reasonably acceptable to Beneficiary; provided that Beneficiary shall have no obligation to approve any person that is not a financial institution with tangible net worth, as determined in accordance with generally accepted accounting principles consistently applied, in excess of Two Hundred Fifty Million Dollars ($250,000,000).