Commitments Loans Bas and Letters of Credit Clause Samples

This clause defines the terms and conditions under which the lender provides financial commitments, such as loans, bankers' acceptances (BA's), and letters of credit, to the borrower. It typically outlines the types of credit facilities available, the procedures for requesting advances or issuances, and any limitations or requirements that must be met. For example, it may specify the maximum aggregate amount that can be borrowed or the documentation needed to draw on a letter of credit. The core function of this clause is to establish clear rules for accessing and managing various forms of credit, thereby ensuring both parties understand their rights and obligations regarding the use of these financial instruments.
Commitments Loans Bas and Letters of Credit. SECTION 2.01. Loans and BA's..................................................................35 SECTION 2.02. Letters of Credit...............................................................36 SECTION 2.03. Certain Provisions Relating to Bankers' Acceptances. ..........................41 SECTION 2.04. Terminations, Reductions or Reallocations of Commitments.......................44 SECTION 2.05.
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Commitments Loans Bas and Letters of Credit 
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Related to Commitments Loans Bas and Letters of Credit

  • Loans and Letters of Credit On the Closing Date:

  • Use of Loans and Letters of Credit The proceeds of the Loans and the Letters of Credit shall be used for working capital, for lease acquisitions, for exploration and production operations, for development (including the drilling and completion of producing ▇▇▇▇▇), for the payment of fees and expenses incurred in connection with this Agreement and for any other general business purposes. The Credit Parties are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

  • First Loans and Letters of Credit On the Closing Date:

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • CONDITIONS TO LOANS AND LETTERS OF CREDIT The obligations of Lenders to make Loans and the issuance of Letters of Credit hereunder are subject to the satisfaction of the following conditions.