Common use of Issuance Clause in Contracts

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date and prior to the Revolving Loan Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension).

Appears in 3 contracts

Sources: Credit Agreement (Actuant Corp), Credit Agreement (Actuant Corp), Credit Agreement (Actuant Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars Agreed Currencies (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the Companya Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 25,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of issuance; provided that any renewal or extension thereof, Facility LC with an expiry date one year after such its issuance may provide for renewal or extensionfor additional one-year periods (which shall in no event extend beyond the date referred to in clause (x) above).

Appears in 3 contracts

Sources: Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars Agreed Currencies (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 25,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of issuance; provided that any renewal or extension thereof, Facility LC with an expiry date one year after such its issuance may provide for renewal or extensionfor additional one-year periods (which shall in no event extend beyond the date referred to in clause (x) above).

Appears in 2 contracts

Sources: Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 60,000,000, (ii) the Aggregate Outstanding Credit Exposure shall not exceed the Aggregate Commitment and (iiiii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan CommitmentCredit Commitments. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in if agreed by the case of any renewal or extension thereofLC Issuer, one year eighteen (18) months after such renewal or extension)its issuance.

Appears in 2 contracts

Sources: Credit Agreement (Kelly Services Inc), Loan Agreement (Kelly Services Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (xA) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (yB) one year after the date of its issuance (orissuance, in provided that any Facility LC with a one-year tenor may provide for the case of any renewal or extension thereofthereof for additional one-year periods, one year after so long as no such renewal or extension)period extends beyond the fifth Business Day prior to the Facility Termination Date.

Appears in 2 contracts

Sources: Credit Agreement, Credit Agreement (Aristotle Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters Letter of Credit deemed issued hereunder pursuant to Section 2.19.13Credit, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 50,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than one year after the earlier of (x) issuance thereof; provided that if such expiry date is after the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orDate, Borrower shall deposit in the case Facility LC Collateral Account on such fifth Business Day immediately available funds in an amount equal to or greater than the undrawn amount of any renewal or extension thereof, one year after such renewal or extension)Facility LC.

Appears in 2 contracts

Sources: Credit Agreement (Cimarex Energy Co), Credit Agreement (Cimarex Energy Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action action, a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Termination Date upon the request of the CompanyBorrower; provided that that, immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Adjusted Available Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth fifteenth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance issuance; provided that any Facility LC with a one-year term may provide for the renewal thereof for additional one-year periods (or, which in no event shall extend beyond the date referred to in the case of any renewal or extension thereof, one year after such renewal or extensionpreceding clause (x)).

Appears in 2 contracts

Sources: Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit denominated in Dollars (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and 3,000,000.00, (ii) the aggregate amount of the Revolving Exposures shall not exceed the lesser of the aggregate Revolving Commitments and, during any Borrowing Base Period, the Borrowing Base, (iii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier to occur of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one (1) year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)issuance.

Appears in 2 contracts

Sources: Credit Agreement (Orchids Paper Products CO /DE), Credit Agreement (Orchids Paper Products CO /DE)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 50,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) one year after the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance the date of issuance. Notwithstanding the foregoing, if any Facility LC is outstanding on the Facility Termination Date, the Borrower shall cause to be deposited with the Administrative Agent cash collateral (or, or Cash Equivalent Investments) in an amount equal to the case stated amount of any renewal or extension thereof, one year after such renewal or extension)Facility LC to secure the Borrower’s reimbursement obligations thereunder.

Appears in 1 contract

Sources: Credit Agreement (Puget Sound Energy Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify,” ", and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 40,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orissuance, in the case provided that any Facility LC with an expiry date of any renewal or extension thereof, one year after such issuance may provide for the renewal or extension)thereof for additional one-year periods (which shall in no event extend beyond the Facility Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Clarcor Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 25,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance, provided that Facility LC with a one (or, in the case of any renewal or extension thereof, 1) year expiration date may include renewals for additional one year after such renewal or extensionperiods, so long as it does not extend beyond (x).

Appears in 1 contract

Sources: Credit Agreement (Matrix Service Co)

Issuance. The LC Issuer Issuers hereby agreesagree, on the terms and conditions set forth in this Agreement, to issue commercial and standby and commercial Letters of Credit in Dollars (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action action, a “Modification”), from time to time from and including the Closing Date and prior to the Revolving Loan Termination Date upon the request of the Companyapplicable Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 50,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance (or, in issuance; provided that any Facility LC with a one-year tenor may provide for the case of any renewal or extension thereof, thereof for additional one year after such renewal or extensionperiods (which shall in no event extend beyond the date referred to in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Patterson Companies, Inc.)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby Standby LCs and commercial Letters of Credit in Dollars Commercial LCs (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of and for the Companyaccount of the Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 50,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, provided that any Facility LC may provide for annual successive one-year renewals thereof provided that no Facility LC expiry date shall occur after the date in the case of any renewal or extension thereof, one year after such renewal or extensionclause (x) above).

Appears in 1 contract

Sources: Credit Agreement (BJS Wholesale Club Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 10,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of issuance; provided that any renewal or extension thereof, Facility LC with a one year after such tenor may provide for the renewal thereof for additional one year periods, so long as the ultimate expiry date is on or extension)before the fifth Business Day prior to the Facility Termination Date .

Appears in 1 contract

Sources: Credit Agreement (Daisytek International Corporation /De/)

Issuance. The LC Issuer hereby agrees, on the terms and -------- conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, : (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 10,000,000, and (ii) the Aggregate Outstanding Revolving Credit Exposure Borrower shall not exceed be in compliance with the Aggregate Revolving Loan Commitmentlimitations of Section 2. 1. No Facility LC shall have an expiry date later than the earlier of (xa) the first anniversary of the issuance date thereof and (b) the fifth Business Day prior to the Revolving Loan Facility Termination Date and Date; provided, however, that any Facility LC with an expiry date complying with the requirements of subsection (ya) may provide for the automatic renewal thereof for additional one year after its issuance periods subject to the requirements of subsection (or, in the case of any renewal or extension thereof, one year after such renewal or extension)b) above.

Appears in 1 contract

Sources: Credit Agreement (Qad Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000.00 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan CommitmentCommitment Amount. Facility LC's issued pursuant to the Prior Credit Agreement and outstanding as of the Closing of this Agreement shall also constitute Facility LCs hereunder. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)issuance.

Appears in 1 contract

Sources: Credit Agreement (Ultra Petroleum Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars (eacheach such Letter of Credit, together with the Existing Letters each Letter of Credit issued or deemed to be issued hereunder pursuant to Section 2.19.13the Previous Credit Agreement and outstanding on the Closing Date, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action action, a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed (a) $60,000,000 110,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Available Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance issuance; provided that any Facility LC with a one- year term may provide for the renewal thereof for additional one-year periods (or, which in no event shall extend beyond the date referred to in the case of any renewal or extension thereof, one year after such renewal or extensionpreceding clause (x)).

Appears in 1 contract

Sources: Credit Agreement (Res Care Inc /Ky/)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue commercial and standby (both payment and commercial Letters performance) letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and "Modify,"and each such action a "Modification"), from time to time from and including the Closing Effective Date and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 the Aggregate Facility LC Commitment and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC issued on or after the initial Credit Extension Date shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance; provided that any Facility LC may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case of any renewal or extension thereof, one year after such renewal or extensionfifth Business Day prior to the Facility Termination Date).

Appears in 1 contract

Sources: Credit Agreement (Shaw Group Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 10,000,000.00 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan CommitmentCommitment Amount. Facility LC's issued pursuant to the Original Credit Agreement or the First Amended Credit Agreement and outstanding as of the Closing of this Agreement shall also constitute Facility LCs hereunder. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)issuance.

Appears in 1 contract

Sources: Revolving Credit Agreement (Energy Partners LTD)

Issuance. The LC Issuer hereby agrees, on the terms and conditions -------- set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date and prior to the Revolving Loan Facility Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orissuance; provided, in that any Facility LC with a one-year tenor may provide for the case of any renewal or extension thereof, thereof for additional one year after such renewal or extension).periods (which in no event shall extend beyond the date referred to in clause (x) above. ----------

Appears in 1 contract

Sources: Revolving Credit Agreement (Stepan Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and 10,000,000, (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment, and (iii) no more than ten (10) Facility LCs shall then be outstanding. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date Date, and (y) one year after its issuance issuance, provided that any Facility LC with a one-year tenor may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case of any renewal or extension thereof, one year after such renewal or extensionfifth Business Day prior to the Facility Termination Date).

Appears in 1 contract

Sources: Credit Agreement (Global Payments Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed US $60,000,000 25,000,000.00 and (ii) the Aggregate Outstanding Revolving Tranche A Credit Exposure shall not exceed the Aggregate Revolving Loan Tranche A Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in issuance; provided that a Facility LC may provide for consecutive one-year extensions with a final maturity no later than the case of any renewal or extension thereof, one year after such renewal or extension)Fifth Business Day prior to the Facility Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Newpark Resources Inc)

Issuance. The LC Issuer hereby agrees, on the terms -------- and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars Agreed Currencies (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each -------- such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 25,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of issuance; provided that any renewal or extension thereof, Facility LC with an expiry date one -------- year after such its issuance may provide for renewal or extensionfor additional one-year periods (which shall in no event extend beyond the date referred to in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Modine Manufacturing Co)

Issuance. The LC Issuer hereby agrees, on the terms and -------- conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 3,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in provided that a Facility LC may provide for the case renewal thereof for additional periods of any renewal or extension thereof, up to one year after such renewal or extensioneach).

Appears in 1 contract

Sources: Credit Agreement (Transit Group Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the Companyany Borrower Representative; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 25,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan CommitmentBorrowing Base. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, or in the case of any renewal or extension thereof, one year after such renewal or extension).

Appears in 1 contract

Sources: Credit Agreement (Clayton Williams Energy Inc /De)

Issuance. The LC Issuer hereby agrees, on the terms and -------- conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, each a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of and for the Companyaccount of any Credit Party; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and 200,000,000, (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment, (iii) the initial face amount of any Facility LC shall not be less than $5,000,000 and (iv) there shall be no more than eight (8) Facility LCs outstanding at any one time. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)issuance.

Appears in 1 contract

Sources: Credit Agreement (Torchmark Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby Standby LCs and commercial Letters of Credit in Dollars Commercial LCs (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of and for the Companyaccount of the Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 50,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, provided that any Facility LC may provide for annual successive one-year renewals thereof provided that no Facility LC expiry date shall occur after the date in the case of any renewal or extension thereof, one year after such renewal or extensionclause (x) above).

Appears in 1 contract

Sources: Credit Agreement (BJS Wholesale Club Inc)

Issuance. The Each LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 100,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orthe "Facility LC Maturity Date"), provided that any Facility LC with a one-year tenor may provide for the renewal thereof for additional one-year periods (but in no event beyond the case of any renewal or extension thereof, one year after such renewal or extensiondate referred to in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Idaho Power Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit denominated in Dollars or other Agreed Currencies (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and 4,500,000, (ii) the aggregate amount of the Revolving Exposures shall not exceed the aggregate Revolving Commitments, and (iii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier to occur of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one one (1) year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)issuance.

Appears in 1 contract

Sources: Credit Agreement (Universal Electronics Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 20,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance, provided, however, that any Facility LC with a one-year term may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case fifth business day prior to the Facility Termination Date) unless the Issuer provides prior notice of any non-renewal or extension thereof, one year after such renewal or extension)to the beneficiary.

Appears in 1 contract

Sources: Credit Agreement (Penn Virginia Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (eacheach such letter of credit, together with the Existing Letters each Letter of Credit deemed issued hereunder pursuant to Section 2.19.13described on Schedule 2.20.1, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower and for the account of the Borrower; provided provided, that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 15,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Credit Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance; provided, that any Facility LC with a one-year term may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case of any renewal or extension thereof, one year after such renewal or extensiondate referred to in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Midas Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 60,000,000, (ii) the Aggregate Outstanding Credit Exposure shall not exceed the Aggregate Commitment and (iiiii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan CommitmentCredit Commitments. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance (orthe Facility Termination Date; provided, that, any Facility LC that remains outstanding after the Facility Termination Date shall be cash collateralized by an amount equal to 105% of the LC Obligations, which amount shall be held in the case of any renewal or extension thereof, one year after such renewal or extension)Facility LC Collateral Account.

Appears in 1 contract

Sources: Credit Agreement (Kelly Services Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Dollars (eachFacility LCs, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower (or RSC, in the case of the RSC Facility LC); provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 the LC Obligations Limit, and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (or, issuance. Facility LCs may be denominated in foreign currencies acceptable to the case of any renewal or extension thereof, one year after such renewal or extension)LC Issuer and the Agent.

Appears in 1 contract

Sources: Credit Agreement (Papa Johns International Inc)

Issuance. The LC Issuer hereby agrees, on the terms and -------- conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 12,500,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan scheduled Facility Termination Date and (y) one year after its issuance (or, in provided that a Facility LC may provide for the case renewal thereof for additional periods of any renewal or extension thereof, up to one year after such renewal or extensioneach).

Appears in 1 contract

Sources: Credit Agreement (Alliant Energy Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of and for the Companyaccount of the Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 the Aggregate Commitment and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance; provided that any Facility LC with a one-year term may provide for the renewal thereof for additional one-year periods (or, which in no event shall extend beyond the case of any renewal or extension thereof, one year after such renewal or extensiondate referred to in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Department 56 Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 10,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than one year after the earlier of (x) issuance thereof; provided that if such expiry date is after the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orDate, Borrower shall deposit in the case Facility LC Collateral Account on such fifth Business Day immediately available funds in an amount equal to or greater than the undrawn amount of any renewal or extension thereof, one year after such renewal or extension)Facility LC.

Appears in 1 contract

Sources: Credit Agreement (Cimarex Energy Co)

Issuance. The Each LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify,” ", and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Revolver Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 100,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure Exposures shall not exceed the Aggregate Revolving Loan Commitmentaggregate of all the Commitments. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Revolver Termination Date and (y) one year after its issuance issuance; provided that any Facility LC with a one-year term may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case of any renewal or extension thereof, one year after such renewal or extensiondate referenced in clause (x) above).

Appears in 1 contract

Sources: Credit Agreement (Dte Energy Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or extension)extension provided, however in all events, that no Facility LC shall be issued, renewed or extended following the Facility Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Coachmen Industries Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and Modify,”and each such action a “Modification”), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 10,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the lesser of the Aggregate Revolving Loan CommitmentCommitment or the Borrowing Base. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance, provided that any Facility LC with a one-year tenor may provide for the renewal thereof for additional one-year periods which shall in no event extend beyond the date referred to in clause (or, in the case of any renewal or extension thereof, one year after such renewal or extension)x) above.

Appears in 1 contract

Sources: Credit Agreement (SCP Pool Corp)

Issuance. The LC Issuer hereby agrees, on the terms and conditions -------- set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 and 10,000,000, (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment, and (iii) no more than ten (10) Facility LCs shall then be outstanding. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date Date, and (y) one year after its issuance issuance, provided that any Facility LC with a one-year tenor may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case of any renewal or extension thereof, one year after such renewal or extension)fifth Business Day prior to the Facility Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Global Payments Inc)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date and prior to the Revolving Loan Facility Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance (orissuance; provided, in that any Facility LC with a one-year tenor may provide for the case of any renewal or extension thereof, thereof for additional one year after such renewal or extension)periods (which in no event shall extend beyond the date referred to in clause (x) above.

Appears in 1 contract

Sources: Revolving Credit Agreement (Stepan Co)

Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters letters of Credit in Dollars credit (each, together with the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a "Facility LC") and to renew, extend, increase, decrease or otherwise modify each Facility LC ("Modify," and each such action a "Modification"), from time to time from and including the Closing Date date of this Agreement and prior to the Revolving Loan Facility Termination Date upon the request of the CompanyBorrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $60,000,000 5,000,000 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the lesser of (a) the Aggregate Revolving Loan CommitmentCommitment and (b) the Borrowing Base. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Facility Termination Date and (y) one year after its issuance issuance; provided, however, that any Facility LC with a one-year tenor may provide for the renewal thereof for additional one-year periods (or, which shall in no event extend beyond the case fifth Business Day prior to the Facility Termination Date) unless the LC Issuer provides prior notice of any non-renewal or extension thereof, one year after to the beneficiary of such renewal or extension)Facility LC.

Appears in 1 contract

Sources: Credit Agreement (Petroquest Energy Inc)