Common use of Expiration Date Clause in Contracts

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 17 contracts

Sources: Senior Secured Credit Agreement (Lord Abbett Private Credit Fund S), Senior Secured Credit Agreement (Blue Owl Technology Finance Corp. II), Senior Secured Credit Agreement (Blue Owl Technology Finance Corp.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Revolver Termination Date unless the Borrower (1) deposits, Cash Collateralizes such Letter of Credit on or prior to the Commitment date that is two (2) Business Days prior to the Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal Date (by reference to 102% of the undrawn face amount of all Letters such Letter of Credit Credit) that will remain outstanding as of the close of business on the Commitment Revolver Termination Date and (2) pays in full, on or prior to the Commitment Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Maturity Date.

Appears in 15 contracts

Sources: Senior Secured Credit Agreement (Barings BDC, Inc.), Senior Secured Revolving Credit Agreement (Barings BDC, Inc.), Senior Secured Revolving Credit Agreement (Barings BDC, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) either (A) deposits, on or no later than five (5) Business Days prior to the Commitment Termination Date, into the Letter of Credit Collateral Account Account, Cash in an amount equal to 102100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date or (B) supports such Letter of Credit with another letter of credit pursuant to arrangements reasonably satisfactory to the Issuing Bank and the Administrative Agent, and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 8 contracts

Sources: Senior Secured Revolving Credit Agreement (Goldman Sachs Private Credit Corp.), Senior Secured Revolving Credit Agreement (Fidelity Private Credit Co LLC), Senior Secured Revolving Credit Agreement (Goldman Sachs Middle Market Lending Corp. II)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 8 contracts

Sources: Senior Secured Credit Agreement (BlackRock Private Credit Fund), Senior Secured Revolving Credit Agreement (Blue Owl Capital Corp III), Senior Secured Credit Agreement (Lord Abbett Private Credit Fund)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the latest Commitment Termination Date unless the Borrower (1) deposits, on or prior to the latest Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the latest Commitment Termination Date and (2) pays in full, on or prior to the latest Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the latest applicable Maturity Date.

Appears in 7 contracts

Sources: Senior Secured Credit Agreement (Blackstone Private Credit Fund), Senior Secured Credit Agreement (Blackstone Secured Lending Fund), Senior Secured Credit Agreement (Blackstone Private Credit Fund)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Extended Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Extended Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Extended Commitment Termination Date and (2) pays in full, on or prior to the Extended Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Extended Maturity Date.

Appears in 5 contracts

Sources: Senior Secured Revolving Credit Agreement (Blue Owl Credit Income Corp.), Senior Secured Revolving Credit Agreement (Blue Owl Credit Income Corp.), Senior Secured Revolving Credit Agreement (Blue Owl Capital Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) six months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide for the renewal thereof for additional one (1) one-year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the applicable Borrower (1) deposits, on or prior to the Commitment Termination Date, into the Letter of Credit Collateral Account Cash in with respect to such Borrower, an amount equal to 102% of the undrawn face amount of all Letters of Credit issued on behalf of such Borrower that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit issued on behalf of such Borrower and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 4 contracts

Sources: Senior Secured Revolving Credit Agreement (FS Investment Corp III), Senior Secured Revolving Credit Agreement (FS Investment Corp II), Senior Secured Revolving Credit Agreement (Corporate Capital Trust, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided further, that (x) in no event shall a . No Letter of Credit expire after may be renewed following the earlier to occur of the Commitment Termination Date unless and the Borrower Termination Date, except to the extent that the relevant Letter of Credit is Cash Collateralized no later than five (15) deposits, on or Business Days prior to the Commitment Termination Date or Termination Date, into as applicable, and the Borrower pays the applicable Issuing Bank all fronting fees scheduled to be due and payable during the term of the relevant Letter of Credit Collateral Account Cash or supported by another letter of credit, in an amount equal each case pursuant to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior arrangements reasonably satisfactory to the Commitment Termination Dateapplicable Issuing Bank and the Administrative Agent. Notwithstanding anything to the contrary contained herein, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Final Maturity Date.

Appears in 4 contracts

Sources: Senior Secured Revolving Credit Agreement (North Haven Private Income Fund LLC), Senior Secured Revolving Credit Agreement (North Haven Private Income Fund LLC), Senior Secured Revolving Credit Agreement (North Haven Private Income Fund a LLC)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment latest Revolver Termination Date unless the Borrower (1) depositsCash Collateralizes, on or prior to the Commitment date that is five (5) Business Days prior to the latest Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit such LC Exposure that will remain outstanding as of the close of business on the Commitment latest Revolver Termination Date and (2) pays in full, on or prior to the Commitment latest Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the latest Stated Maturity Date.

Appears in 3 contracts

Sources: Senior Secured Revolving Credit Agreement (Oaktree Strategic Credit Fund), Senior Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp), Senior Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Revolver Termination Date unless the Borrower (1) deposits, on or prior to the Commitment Revolver Termination Date, into the Letter of Credit Collateral Account Cash Cash, in an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Revolver Termination Date and (2) pays in full, on or prior to the Commitment Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 3 contracts

Sources: Senior Secured Revolving Credit Agreement (FS Investment CORP), Senior Secured Revolving Credit Agreement (FS Investment CORP), Senior Secured Revolving Credit Agreement (FS Investment Corp II)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Revolver Termination Date unless the Borrower (1) depositsCash Collateralizes, on or prior to the Commitment date that is five (5) Business Days prior to the Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit such LC Exposure that will remain outstanding as of the close of business on the Commitment Revolver Termination Date and (2) pays in full, on or prior to the Commitment Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Maturity Date.

Appears in 3 contracts

Sources: Senior Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp), Senior Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp), Senior Secured Revolving Credit Agreement (Oaktree Specialty Lending Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide for the renewal thereof for additional one (1) one-year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Revolving Facility Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Revolving Facility Commitment Termination Date, into the Letter of Credit Collateral Account Cash in Cash, an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Revolving Facility Commitment Termination Date and (2) pays in full, on or prior to no later than the Revolving Facility Commitment Termination Date, all commissions required to be paid by the Borrower with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Final Maturity Date.

Appears in 2 contracts

Sources: Senior Secured Credit Agreement (FS Energy & Power Fund), Amendment No. 1 and Waiver (FS Energy & Power Fund)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Revolver Termination Date unless the Borrower Borrower, (1) depositsCash Collateralizes, on or prior to the Commitment date that is five (5) Business Days prior to the Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit such LC Exposure that will remain outstanding as of the close of business on the Commitment Revolver Termination Date and (2) pays in full, on or prior to the Commitment Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Maturity Date.

Appears in 2 contracts

Sources: Senior Secured Revolving Credit Agreement (Capital Southwest Corp), Senior Secured Revolving Credit Agreement (Capital Southwest Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide for the renewal thereof for additional one (1) one-year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Revolving Facility Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Revolving Facility Commitment Termination Date, into the Letter of Credit Collateral Account Cash in Cash, an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Revolving Facility Commitment Termination Date and (2) pays in full, on or prior to no later than the Revolving Facility Commitment Termination Date, all commissions required to be paid by the Borrower with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Final Maturity Date.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (FS Energy & Power Fund)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Revolver Termination Date unless the Borrower (1) depositsCash Collateralizes, on or prior to the Commitment date that is five (5) Business Days prior to the Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit such LC Exposure that will remain outstanding as of the close of business on the Commitment Revolver Termination Date and (2) pays in full, on or prior to the Commitment Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Stated Maturity Date.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (Oaktree Strategic Credit Fund)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Commitment Termination Date, into the Letter of Credit 748405650 Collateral Account Cash in an amount equal to 102100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (Owl Rock Core Income Corp.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Extended Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Extended Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102100102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Extended Commitment Termination Date and (2) pays in full, on or prior to the Extended Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Extended Maturity Date.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (Blue Owl Capital Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Extended Revolver Termination Date unless the Borrower Borrower, (1) depositsCash Collateralizes, on or prior to the Commitment date that is five (5) Business Days prior to the Extended Revolver Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 102% of the undrawn face amount of all Letters of Credit such LC Exposure that will remain outstanding as of the close of business on the Commitment Extended Revolver Termination Date and (2) pays in full, on or prior to the Commitment Extended Revolver Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Maturity DateDate with respect to Extended Loans.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (Capital Southwest Corp)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide for the renewal thereof for additional one (1) one-year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Commitment Termination Date, into the Letter of Credit Collateral Account Cash Cash, in an amount equal to 102% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (Corporate Capital Trust, Inc.)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower (1) deposits, on or prior to no later than the Commitment Termination Date, into the Letter of Credit Collateral Account Account, Cash in an amount equal to 102100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date and (2) pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry date after the Maturity Date.

Appears in 1 contract

Sources: Senior Secured Revolving Credit Agreement (KKR FS Income Trust)

Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) one-year term may provide (pursuant to customary “evergreen” provisions) for the renewal thereof for additional one (1) one-year periods; provided provided, further, that (x) in no event shall a any Letter of Credit expire after have an expiration date that is later than the Commitment Termination Maturity Date unless the Borrower (1) deposits, Cash Collateralizes such Letter of Credit on or prior to the Commitment Termination Date, into date that is two (2) Business Days prior to the Letter of Credit Collateral Account Cash in an amount equal Maturity Date (by reference to 102% of the undrawn face amount of all Letters such Letter of Credit Credit) that will remain outstanding as of the close of business on the Commitment Termination Maturity Date and (2) pays in full, on or prior to the Commitment Termination Maturity Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no Letter of Credit shall have an expiry expiration date after the Maturity Date.

Appears in 1 contract

Sources: Revolving Credit Agreement (Barings Capital Investment Corp)