Common use of Reinstatement of Amounts Available for Drawing and other Adjustments to Amounts Available for Drawing Clause in Contracts

Reinstatement of Amounts Available for Drawing and other Adjustments to Amounts Available for Drawing. In the event that any such DSR Letter of Credit provides that the amounts available for Drawing under such DSR Letter of Credit shall be reinstated (in whole or in part) upon delivery by the DSR LC Issuing Bank of such DSR Letter of Credit to the beneficiary of such DSR Letter of Credit of a certificate to the effect that amounts drawn under such DSR Letter of Credit have been reimbursed by the Borrower, such DSR LC Issuing Bank shall deliver such certificate so long as such DSR LC Issuing Bank shall have been advised in writing by the Administrative Agent that (A) the Available Amount of such DSR Letter of Credit does not exceed the applicable DSR LC Commitment of the applicable DSR LC Issuing Bank after giving effect to the reinstatement and (B)(1) the Reimbursement Obligation relating to such Drawing has been paid in full, together with interest thereon and all other amounts payable with respect thereto and/or (2) the related DSR LC Loan of such DSR Letter of Credit relating to such Reimbursement Obligation has been paid (in whole or in part), together with interest due and payable thereon and all other amounts payable with respect thereto; provided, that in the event that any such DSR LC Loan is paid in part the amount available for Drawing under the related DSR Letter of Credit shall be subject to reinstatement in an amount not exceeding the amount of such payment and provided, further, that the delivery of such certificate shall be subject to the same conditions as are applicable under this Section 2.17(m) and Section 3.4 to the issuance of new DSR Letters of Credit, and no such modification or supplement shall be issued hereunder unless either (1) the respective DSR Letter of Credit affected thereby would have complied with such conditions had it originally been issued hereunder in such modified or supplemented form or (2) the applicable DSR LC Issuing Bank shall have consented thereto.

Appears in 1 contract

Sources: Credit Agreement (CBRE Acquisition Holdings, Inc.)

Reinstatement of Amounts Available for Drawing and other Adjustments to Amounts Available for Drawing. In the case of the DSR Letters of Credit only, in the event that any such DSR Letter of Credit provides that the amounts available for Drawing under such DSR Letter of Credit shall be reinstated (in whole or in part) upon delivery by the DSR LC Issuing Bank of such DSR Letter of Credit to the beneficiary of such DSR Letter of Credit of a certificate to the effect that amounts drawn under such DSR Letter of Credit have been reimbursed by the Borrower, such DSR LC Issuing Bank shall deliver such certificate so long as such DSR LC Issuing Bank shall have been advised in writing by the Administrative Agent that (A) the Available Amount of such DSR Letter of Credit does not exceed the applicable DSR LC Commitment of the applicable DSR LC Issuing Bank after giving effect to the reinstatement and (B)(1) the Reimbursement Obligation relating to such Drawing has been paid in full, together with interest thereon and all other amounts payable with respect thereto and/or (2) the related DSR LC Loan of such DSR Letter of Credit relating to such Reimbursement Obligation has been paid (in whole or in part), together with interest due and payable thereon and all other amounts payable with respect thereto; provided, that in the event that any such DSR LC Loan is paid in part the amount available for Drawing under the related DSR Letter of Credit shall be subject to reinstatement in an amount not exceeding the amount of such payment and provided, further, that the delivery of such certificate shall be subject to the same conditions as are applicable under this Section 2.17(m) 2.16 and Section 3.4 3.3 to the issuance of new DSR Letters of Credit, and no such modification or supplement shall be issued hereunder unless either (1) the respective DSR Letter of Credit affected thereby would have complied with such conditions had it originally been issued hereunder in such modified or supplemented form or (2) the applicable DSR LC Issuing Bank shall have consented thereto.

Appears in 1 contract

Sources: Credit Agreement (Sunpower Corp)