Common use of Obligations to Issue Clause in Contracts

Obligations to Issue. Subject to the terms and conditions of this -------------------- Agreement and in reliance upon the representations and warranties of the Borrower and the General Partner herein set forth, the Issuing Bank hereby agrees to issue for the account of Borrower, one or more Facility Letters of Credit in accordance with this Article III, from time to time during the period ----------- commencing on the Closing Date and ending on the Business Day prior to the Facility Termination Date. Any Lender shall have the tight to decline to be the Issuing Bank for a Facility Letter of Credit provided that if no other Lender agrees to be the Issuing Bank then Administrative Agent shall agree to do so.

Appears in 1 contract

Sources: Revolving Credit Agreement (National Golf Properties Inc)

Obligations to Issue. Subject to the terms and conditions of this -------------------- Agreement and in reliance upon the representations and warranties of the Borrower and the General Partner herein set forth, the Issuing Bank hereby agrees to issue for the account of Borrower, one or more Facility Letters of Credit in accordance with this Article ARTICLE III, from time to time during the period ----------- commencing on the Closing Agreement Execution Date and ending on the Business Day prior to the Facility Termination Date. Any Lender shall have the tight right to decline to be the Issuing Bank for a Facility Letter of Credit provided that if no other Lender agrees to be the Issuing Bank then Administrative Agent shall agree to do so.

Appears in 1 contract

Sources: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)

Obligations to Issue. Subject to the terms and conditions of this -------------------- Agreement and in reliance upon the representations and warranties of the Borrower and the General Partner herein set forth, the Issuing Bank hereby agrees to issue for the account of Borrower, one or more Facility Letters of Credit in accordance with this Article III, from time to time during the period ----------- commencing on the Closing Date and ending on the Business Day prior to the Revolving Facility Termination Date. Any Revolving Lender shall have the tight right to decline to be the Issuing Bank for a Facility Letter of Credit provided that if no other Revolving Lender agrees to be the Issuing Bank then Administrative Agent shall agree to do so.

Appears in 1 contract

Sources: Credit Agreement (National Golf Properties Inc)