Common use of Amount and Expiration Clause in Contracts

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, the Borrower may request that NatWest Plc in its individual capacity (in the case of Standby L/Cs) or BankBoston, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower, PROVIDED, HOWEVER, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount of all Net L/C Obligations and the aggregate amount of all Revolving Loans then outstanding would exceed the Aggregate Revolving Commitment at such time, or (ii) the aggregate amount of all L/C Obligations then outstanding would exceed the Maximum L/C Amount. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this Section 2.23, repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.23. For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No L/C shall have an expiration date later than the earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Termination Date. No L/C may by its terms be automatically renewable, unless consented to in writing by the Administrative Agent and the Issuing Bank in the exercise of their sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in Dollars.

Appears in 1 contract

Sources: Credit Agreement (Lodgenet Entertainment Corp)

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is thirty (30) days before the Termination Date, Borrower may request that NatWest Plc the L/C Issuer, in its individual capacity (in the case of Standby L/Cs) or BankBostoncapacity, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower; provided, PROVIDED, HOWEVERhowever, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount and of all Net any other L/C Obligations Cs requested to be issued on the same Funding Date and to the aggregate amount making of all Revolving any Committed Loans then outstanding would exceed or Bid Rate Loans requested to be made on the Aggregate Revolving Commitment at such timesame Funding Date, or (iiA) the aggregate amount of all L/C Obligations Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Maximum Aggregate Commitments at such time or (B) the aggregate amount of all L/C AmountOutstandings would exceed the L/C Sublimit. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this Section 2.23subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.23subsection (i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No Each L/C shall have an expiration date expire by its terms not later than the earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Termination L/C Expiration Date. No Any L/C may by its terms be automatically renewablerenewable for a period not to exceed 365 days; provided, unless consented to that any such L/C shall also expressly provide that its final expiry date shall in writing by any event occur not later than the Administrative Agent and the Issuing Bank in the exercise of their sole discretion, subject to the foregoing restriction regarding expiration datesTermination Date, and no such L/C shall not be extended beyond such date. No L/C may be denominated or drawable other than in Dollars. (iii) On and after the Closing Date, the L/Cs set forth on Schedule III shall be deemed to have been issued by the L/C Issuer under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Midamerican Energy Holdings Co /New/)

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, the Borrower may request that NatWest Plc an L/C Issuer, in its individual capacity (in the case of Standby L/Cs) or BankBostoncapacity, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more standby L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower, PROVIDEDprovided, HOWEVERhowever, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount of all Net L/C Obligations and the aggregate amount of all Revolving Loans then outstanding would exceed the Aggregate Revolving Commitment at such time, or (iix) the aggregate amount of all L/C Obligations Outstandings and the aggregate amount of all Revolving Credit Advances and Competitive Bid Advances then outstanding would exceed the Maximum aggregate amount of the Revolving Credit Commitments of the Lenders at such time or (y) the aggregate amount of all L/C AmountOutstandings then outstanding would exceed the L/C Sublimit. Subject to the foregoing, the Borrower may request the issuance of L/Cs C(s) under this Section 2.232.03A(a)(i), repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.232.03A(a)(i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No Each L/C shall have an expiration date expire by its terms not later than the earlier L/C Expiration Date. Subject to the preceding sentence, each L/C shall expire on or before the first anniversary of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) such issuance; provided that the expiry date which is thirty (30) days prior to the Revolving Termination Date. No of any L/C may by its terms be automatically renewableextended from time to time for a period not exceeding one year (i) at the Borrower's request or (ii) if such L/C so provides, unless consented automatically, in each case so long as such extension is granted (or the last day on which notice can be given to in writing by prevent such extension occurs) no earlier than three months before the Administrative Agent and the Issuing Bank in the exercise of their sole discretion, subject to the foregoing restriction regarding expiration dates, and no then existing expiry date thereof. No L/C may be denominated or drawable other than in DollarsUnited States dollars.

Appears in 1 contract

Sources: Credit Agreement (Laboratory Corp of America Holdings)

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is 30 days before the Termination Date, Borrower may request that NatWest Plc the L/C Issuer, in its individual capacity (in the case of Standby L/Cs) or BankBostoncapacity, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower; provided, PROVIDED, HOWEVERhowever, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount and of all Net any other L/C Obligations Cs requested to be issued on the same Funding Date and to the aggregate amount making of all Revolving any Committed Loans then outstanding would exceed or Bid Rate Loans requested to be made on the Aggregate Revolving Commitment at such timesame Funding Date, or (iiA) the aggregate amount of all L/C Obligations Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Maximum Aggregate Commitments at such time, or (B) the aggregate amount of all L/C AmountOutstandings would exceed the L/C Sublimit. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this Section 2.23subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.23subsection (i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No Each L/C shall have an expiration date expire by its terms not later than the earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Termination L/C Expiration Date. No L/C may by its terms be automatically renewable, unless consented to in writing by the Administrative each of Agent and the Issuing Bank L/C Issuer in the exercise of their its sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in Dollars.

Appears in 1 contract

Sources: Credit Agreement (Midamerican Energy Holdings Co /New/)

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, the Borrower may request that NatWest Plc in its individual capacity (in the case of Standby L/Cs) or BankBoston, N.A. NatWest Canada in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. NatWest Canada is herein referred to as the "THE ISSUING BANK" and collectively as the "THE ISSUING BANKS") for the account of the Borrower, PROVIDED, HOWEVER, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount of all Net L/C Obligations and the aggregate amount of all Revolving Loans then outstanding would exceed the Aggregate Revolving Total Commitment at such time, or (ii) the aggregate amount of all L/C Obligations then outstanding would exceed the Maximum L/C Amount. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this Section 2.232.16, repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.232.16. For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No L/C shall have an expiration date later than the earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Commitment Termination Date. No L/C may by its terms be automatically renewable, unless consented to in writing by the Administrative Agent and the Issuing Bank in the exercise of their sole discretion, subject to the foregoing restriction regarding expiration dates, and no L/C may be denominated or drawable other than in DollarsUnited States dollars.

Appears in 1 contract

Sources: Credit Agreement (Lodgenet Entertainment Corp)

Amount and Expiration. (i) Subject to the terms and conditions of this Agreement, from the Closing Date to the date which is thirty (30) days before the Termination Date, Borrower may request that NatWest Plc the L/C Issuer, in its individual capacity (in the case of Standby L/Cs) or BankBostoncapacity, N.A. in its individual capacity (in the case of Standby L/Cs and Documentary L/Cs) issue one or more L/Cs (in such capacity, each of NatWest Plc and BankBoston, N.A. is herein referred to as the "ISSUING BANK" and collectively as the "ISSUING BANKS") for the account of the Borrower; provided, PROVIDED, HOWEVERhowever, that no L/C shall be issued if, after giving effect to the issuance of such L/C (i) the aggregate amount and of all Net any other L/C Obligations Cs requested to be issued on the same Funding Date and to the aggregate amount making of all Revolving any Committed Loans then outstanding would exceed or Bid Rate Loans requested to be made on the Aggregate Revolving Commitment at such timesame Funding Date, or (iiA) the aggregate amount of all L/C Obligations Outstandings plus the aggregate amount of all Committed Loans and Bid Rate Loans then outstanding would exceed the Maximum Aggregate Commitments at such time, (B) the aggregate amount of all L/C AmountOutstandings would exceed the L/C Sublimit or (C) if the Termination Date shall have been extended pursuant to Section 2.12, the aggregate amount of all L/C Outstandings would exceed the Aggregate Commitments scheduled to be in effect on the latest Termination Date. Subject to the foregoing, the Borrower may request the issuance of L/Cs under this Section 2.23subsection (i), repay any drawings thereunder and request the issuance of additional L/Cs under this Section 2.23subsection (i). For all purposes of this Agreement, reference to the "issue" or "issuance" of any L/C or any L/C being "issued" shall include the amendment, supplement or modification of any L/C, including, without limitation, any increase in the amount thereof, or any extension or renewal thereof. (ii) No Each L/C shall have an expiration date expire by its terms not later than the earlier of (A) three hundred sixty-five (365) days after the date of issuance thereof, or (B) the date which is thirty (30) days prior to the Revolving Termination L/C Expiration Date. No Any L/C may by its terms be automatically renewablerenewable for a period not to exceed 365 days; provided, unless consented to that any such L/C shall also expressly provide that its final expiry date shall in writing by any event occur not later than the Administrative Agent and the Issuing Bank in the exercise of their sole discretion, subject to the foregoing restriction regarding expiration datesTermination Date, and no such L/C shall not be extended beyond such date. No L/C may be denominated or drawable other than in Dollars. (iii) On and after the Closing Date, the L/Cs set forth on Schedule III shall be deemed to have been issued by the L/C Issuer under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Midamerican Energy Holdings Co /New/)