Common use of Letters of Credit Sublimit Clause in Contracts

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Dollars ($7,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 and 2.1.

Appears in 2 contracts

Sources: Loan and Security Agreement (Tremor Video Inc.), Loan and Security Agreement (Tremor Video Inc.)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven One Million Dollars ($7,000,000.001,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 2 contracts

Sources: Loan and Security Agreement (SALARY.COM, Inc), Loan and Security Agreement (Soundbite Communications Inc)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Eight Million Dollars ($7,000,000.00), 8,000,000) inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 2 contracts

Sources: Loan and Security Agreement (Stereotaxis, Inc.), Loan and Security Agreement (Stereotaxis, Inc.)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to the deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven One Million Dollars ($7,000,000.001,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Voxware Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s 's account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Five Million Dollars ($7,000,000.005,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Evergreen Solar Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Fifteen Million Dollars ($7,000,000.0015,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Network Engines Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, after the Initial Advance, Bank shall issue or have issued Letters of Credit for Borrower’s 's account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Dollars ($7,000,000.00)500,000, inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (ExactTarget, Inc.)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Ten Million Dollars ($7,000,000.0010,000,000), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Medidata Solutions, Inc.)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit (but excluding any amounts drawn and reimbursed) and any Letter of Credit Reserve) may not exceed Seven Ten Million Dollars ($7,000,000.00), 10,000,000) inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Evergreen Solar Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s 's account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Five Million Dollars ($7,000,000.005,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.1, 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Equallogic Inc)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Five Hundred Thousand Dollars ($7,000,000.00500,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Paradigm Holdings, Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s 's account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven One Million Dollars ($7,000,000.001,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Voxware Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s 's account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The undrawn face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Fifteen Million Dollars ($7,000,000.0015,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.1, 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Netezza Corp)

Letters of Credit Sublimit. (a) As part of the Revolving Formula Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Dollars ($7,000,000.00)1,000,000.00, inclusive of Credit Extensions relating to Sections 2.1.5 2.1.1, 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Datawatch Corp)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Hundred Fifty Thousand Dollars ($7,000,000.00750,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Sonic Foundry Inc)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Dollars ($7,000,000.00), 3,000,000 inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (Satcon Technology Corp)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Six Million Dollars ($7,000,000.006,000,000.00), inclusive of Credit Extensions relating to Sections 2.1.5 2.1.1, 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (NMS Communications Corp)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven One Million Dollars ($7,000,000.00), 1,000,000.00) inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (World Energy Solutions, Inc.)

Letters of Credit Sublimit. (a) As part of the Revolving LineLine and subject to deduction of Reserves, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Million Dollars ($7,000,000.00), 500,000 inclusive of Credit Extensions relating to Sections 2.1.5 2.1.3 and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (International Electronics Inc)

Letters of Credit Sublimit. (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed Seven Thirty Million Dollars ($7,000,000.0030,000,000.00), inclusive of all Credit Extensions relating to Sections 2.1.5 2.1.1, 2.1.3, and 2.12.

Appears in 1 contract

Sources: Loan and Security Agreement (LTX Corp)