Common use of Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions Clause in Contracts

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall, by and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominated, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuer, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuer’s standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit and (ii) the Total Outstanding Amount will not exceed the Total Commitment then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been met.

Appears in 2 contracts

Samples: Credit Agreement (National Interstate CORP), Credit Agreement (National Interstate CORP)

AutoNDA by SimpleDocs

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to the applicable LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c‎Section 2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (i) the Administrative Agent shall have been given notice of such issuance, amendment, renewal or extension (other than in the case of an automatic extension) and (ii) after giving effect to such issuance, amendment, renewal or extension (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (iA) the aggregate LC Exposure will not exceed the LC Sublimit and Sublimit, (iiB) the Total Outstanding Amount will not exceed the Maximum Facility Availability on such date and (C) the Total Commitment then in effectTranche A Outstanding Amount will not exceed the Maximum Tranche A Availability on such date. No LC Issuing Bank shall be required to issue Letters of Credit in an aggregate outstanding amount exceeding such LC Issuing Bank’s LC Commitment Amount. No LC Issuing Bank shall issue a Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders have informed such LC Issuing Bank in writing that the conditions to such issuance, as set forth in this Section 2.04 and funding in Section 4.02, 4.02 have not been metsatisfied.

Appears in 2 contracts

Samples: Credit Agreement (United States Steel Corp), Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the applicable Borrower shallshall telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank and through an Authorized Representative, give the Applicable Agent) to the Administrative Agent applicable Issuing Bank and the Letter of Credit Issuer by telephone Applicable Agent (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)paragraph (c) of this Section), the amount of such Letter of Credit and Credit, the currency in which it such Letter of Credit is to be denominateddenominated (in the case of an Australian Tranche Letter of Credit), the name and address of the beneficiary thereof and such other information as shall be necessary to enable the applicable Issuing Bank to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable Issuing Bank, the applicable Borrower also shall submit to such Issuing Bank a letter of credit application on the Letter of Credit Issuer’s standard a form (with agreed upon by such changes as are agreed by the Letter of Credit Issuer Borrower and the Borrower) such Issuing Bank in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) no Issuing Bank shall have US Tranche Letters of Credit or Australian Tranche Letters of Credit outstanding the aggregate amount of which (or, in the case of any Letter of Credit denominated in Australian Dollars, the US Dollar Equivalent of the amount of which) shall be in excess of such Issuing Bank’s US Tranche LC Commitment or Australian Tranche LC Commitment, respectively, (ii) in the case of a US Tranche Letter of Credit, (A) the US Tranche LC Exposure will shall not exceed US$75,000,000 and (B) the aggregate US Tranche Revolving Exposures shall not exceed the LC Sublimit aggregate US Tranche Revolving Commitments and (iiiii) in the Total Outstanding Amount will case of an Australian Tranche Letter of Credit, the aggregate Australian Revolving Tranche Exposures shall not exceed the Total Commitment then in effect. No Letter lesser of Credit shall be issued if (A) US$25,000,000 and (B) the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metaggregate Australian Revolving Tranche Commitments.

Appears in 1 contract

Samples: Credit Agreement (Millennium Chemicals Inc)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the LC Issuing Bank) to the LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit IssuerLC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuer’s LC Issuing Bank's standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $300,000,000 and (ii) the Total Outstanding Amount will not exceed the Total Commitment aggregate amount of the Commitments then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been met.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a U.S. Letter of Credit (or the amendment, renewal or extension of an outstanding U.S. Letter of Credit), the U.S. Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Lender) to the applicable Issuing Lender and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice (a “U.S. Issuance Request”) requesting the issuance of a U.S. Letter of Credit, or identifying the U.S. Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable Issuing Lender, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch Issuing Lender’s standard form (with such changes as are agreed by the Letter of Credit Issuer such Issuing Lender and the Borrower) in connection with any request for a U.S. Letter of Credit. A U.S. Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each U.S. Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure Dollar Amount of all U.S. Letter of Credit Liabilities will not exceed the LC Sublimit $150,000,000 and (ii) the U.S. Total Outstanding Amount will not exceed the Total Commitment aggregate amount of the U.S. Commitments then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been met.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp/De)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the LC Issuing Bank) to the LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit IssuerLC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit IssuerLC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if if, (i) no Defaulting Lender shall then exist (unless such Defaulting Lender’s pro rata share (based on the ratio of such Defaulting Lender’s Commitment to the aggregate Commitments then in effect) of the LC Exposure has been cash collateralized by the Borrower (pursuant to documentation satisfactory to the LC Issuing Bank, the Administrative Agent and the Borrower)) and (ii) (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (iA) the LC Exposure will not exceed the LC Sublimit $300,000,000 and (iiB) the Total Outstanding Amount will not exceed the Total Commitment then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to Maximum Facility Availability on such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metdate.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallapplicable Borrowers’ Agent (on behalf of the requesting Borrower) shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by and through an Authorized Representative, give the applicable Issuing Lender) to the applicable Issuing Lender and the applicable Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice (an “Issuance Request”) requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.20(c)), the amount and, in the case of a Canadian Borrower, the currency of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch Issuing Lender’s standard form (with such changes as are agreed by the Letter of Credit Issuer such Issuing Lender and the such Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure Dollar Amount of all Letter of Credit Liabilities will not exceed the LC Sublimit and $200,000,000, (ii) if the applicable Borrower is a U.S. Borrower, the U.S. Total Outstanding Amount will not exceed the Total Commitment U.S. Maximum Availability then in effect. No Letter of Credit shall be issued , (iii) if the Letter of Credit Issuer shall have received notice from applicable Borrower is a Canadian Borrower, the Administrative Agent or Canadian Total Outstanding Amount will not exceed the Required Lenders Canadian Maximum Availability then in effect and (iv) if the applicable Borrower is the Company, that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have Total Company Outstanding Amount will not been metexceed $200,000,000.

Appears in 1 contract

Samples: Credit Agreement (Ryerson Tull Inc /De/)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the LC Issuing Bank) to the LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit IssuerLC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit IssuerLC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $350,000,000 and (ii) the Total Outstanding Amount will not exceed the Total Commitment then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to Maximum Facility Availability on such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metdate.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to the applicable LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (i) the Administrative Agent shall have been given notice of such issuance, amendment, renewal or extension and (ii) after giving effect to such issuance, amendment, renewal or extension (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (iA) the aggregate LC Exposure will not exceed the LC Sublimit and (iiB) the Total Outstanding Amount will not exceed the Total Commitment then in effectMaximum Facility Availability on such date. No LC Issuing Bank shall be required to issue Letters of Credit in an aggregate outstanding amount exceeding such LC Issuing Bank’s LC Commitment Amount. No LC Issuing Bank shall issue a Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders have informed such LC Issuing Bank in writing that the conditions to such issuance, as set forth in this Section 2.04 and funding in Section 4.02, 4.02 have not been metsatisfied.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to the applicable LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (i) the Administrative Agent shall have been given notice of such issuance, amendment, renewal or extension (other than in the case of an automatic extension) and (ii) after giving effect to such issuance, amendment, renewal or extension (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (iA) the aggregate LC Exposure will not exceed the LC Sublimit and (iiB) the Total Outstanding Amount will not exceed the Total Commitment then in effectMaximum Facility Availability on such date. No LC Issuing Bank shall be required to issue Letters of Credit in an aggregate outstanding amount exceeding such LC Issuing Bank’s LC Commitment Amount. No LC Issuing Bank shall issue a Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders have informed such LC Issuing Bank in writing that the conditions to such issuance, as set forth in this Section 2.04 and funding in Section 4.02, 4.02 have not been metsatisfied.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the LC Issuing Bank) to the LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.05(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit IssuerLC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit IssuerLC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $300,000,000 and (ii) the Total Outstanding Amount will not exceed the Total Commitment Maximum Facility Availability then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been met.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to an LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (ic) the LC Exposure will not exceed the LC Sublimit $5,000,000 and (iid) the Total Outstanding Amount total Revolving Exposures will not exceed the Total Commitment total Revolving Commitments then in effect. No Letter Subject to the foregoing sentence, and so long as no Event of Default shall have occurred and be continuing, Letters of Credit containing customary “evergreen” provisions shall be issued if extended automatically so long as such extension is for a period not exceeding one year and is granted no earlier than three months before the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metthen existing expiry date thereof.

Appears in 1 contract

Samples: Credit Agreement (Gear & Broach, Inc. C/O FastenTech, Inc.)

AutoNDA by SimpleDocs

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the relevant Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant LC Issuing Bank) to the relevant LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerrelevant LC Issuing Bank, the relevant Borrower also shall submit a letter of credit application on the Letter of Credit Issuer’s such LC Issuing Bank's standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the relevant Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $200,000,000 and (ii) the Total Outstanding Amount total Revolving Exposures will not exceed the Total Commitment then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been mettotal Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Xerox Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. (i) To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallRepresentative shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to the applicable Issuing Bank and through an Authorized Representative, give to the Administrative Agent (at least five Business Days (or such shorter period of time as may be agreed by the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably Issuing Bank) in advance of the requested date of issuance, amendment, renewal or extension, ) a notice (which shall include wording agreed with such Issuing Bank) requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the name of the account party (which may, at the option of the Borrower Representative, list any Loan Party or one or more Subsidiaries of any Borrower; provided that the listing of such Guarantor or Subsidiaries shall not create any obligations of such entity under this Agreement and the Borrowers shall remain at all times responsible for the obligations and agreements under the Loan Documents with respect to all Letters of Credit), the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)2.05(c), the amount of such Letter of Credit and Credit, the currency in which it is to be denominatedof denomination, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issueran Issuing Bank, the Borrower Representative also shall submit a letter of credit application on the Letter of Credit Issuersuch Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Representative shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, extension (ix) the LC Exposure will shall not exceed $250,000,000 and (y) the sum of the total Credit Exposures shall not exceed the LC Sublimit and (ii) the Total Outstanding Amount will not exceed the Total Commitment then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been mettotal Commitments.

Appears in 1 contract

Samples: Credit Agreement (KKR & Co. L.P.)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to the applicable LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.16(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (i) the Administrative Agent shall have been given notice of such issuance, amendment, renewal or extension (other than in the case of an automatic extension) and (ii) after giving effect to such issuance, amendment, renewal or extension (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (iA) the aggregate LC Exposure will not exceed the LC Sublimit and Sublimit, (iiB) the Total Outstanding Amount will not exceed the Maximum Facility Availability on such date and (C) the Total Commitment then in effectTranche A Outstanding Amount will not exceed the Maximum Tranche A Availability on such date. No LC Issuing Bank shall be required to issue Letters of Credit in an aggregate outstanding amount exceeding such LC Issuing Bank’s LC Commitment Amount. No LC Issuing Bank shall issue a Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders have informed such LC Issuing Bank in writing that the conditions to such issuance, as set forth in this Section 2.04 and funding in Section 4.02, 4.02 have not been metsatisfied.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to an LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch LC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $5,000,000 and (ii) the Total Outstanding Amount total Revolving Exposures will not exceed the Total Commitment total Revolving Commitments then in effect. No Letter Subject to the foregoing sentence, and so long as no Event of Default shall have occurred and be continuing, Letters of Credit containing customary “evergreen” provisions shall be issued if extended automatically so long as such extension is for a period not exceeding one year and is granted no earlier than three months before the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metthen existing expiry date thereof.

Appears in 1 contract

Samples: Credit Agreement (Fastentech Inc)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the LC Issuing Bank) to the LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.05(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit IssuerLC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit IssuerLC Issuing Bank’s standard form (with such changes as are agreed by the Letter of Credit Issuer such LC Issuing Bank and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $75,000,000 and (ii) the Total Outstanding Amount will not exceed the Total Commitment Maximum Facility Availability then in effect. No Letter of Credit shall be issued if the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been met.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallapplicable Borrowers’ Agent (on behalf of the requesting Borrower) shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by and through an Authorized Representative, give the applicable Issuing Lender) to the applicable Issuing Lender and the applicable Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice (an “Issuance Request”) requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c2.20(c)), the amount and, in the case of the Canadian Borrower, the currency of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Letter of Credit Issuersuch Issuing Lender’s standard form (with such changes as are agreed by the Letter of Credit Issuer such Issuing Lender and the such Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure Dollar Amount of all Letter of Credit Liabilities will not exceed the LC Sublimit and $200,000,000, (ii) if the applicable Borrower is a U.S. Borrower, the U.S. Total Outstanding Amount will not exceed the Total Commitment U.S. Maximum Availability then in effect. No Letter of Credit shall be issued , (iii) if the Letter of Credit Issuer shall have received notice from applicable Borrower is the Administrative Agent or Canadian Borrower, the Required Lenders Canadian Total Outstanding Amount will not exceed the Canadian Maximum Availability then in effect and (iv) if the applicable Borrower is the Company, that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have Total Company Outstanding Amount will not been metexceed $200,000,000.

Appears in 1 contract

Samples: Credit Agreement (Ryerson Inc.)

Notice of Issuance, Amendment, Renewal or Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shallshall hand deliver or facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable LC Issuing Bank) to an LC Issuing Bank and through an Authorized Representative, give to the Administrative Agent and the Letter of Credit Issuer by telephone (confirmed by telecopy or email transmission from such Authorized Representative), reasonably in advance of the requested date of issuance, amendment, renewal or extension, ) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with Section 2.04(c)), the amount of such Letter of Credit and the currency in which it is to be denominatedCredit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Letter of Credit Issuerapplicable LC Issuing Bank, the Borrower also shall submit a letter of credit application on the Letter of Credit Issuer’s such LC Issuing Bank's standard form (with such changes as are agreed by the Letter of Credit Issuer and the Borrower) in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed the LC Sublimit $5,000,000 and (ii) the Total Outstanding Amount total Revolving Exposures will not exceed the Total Commitment total Revolving Commitments then in effect. No Letter Subject to the foregoing sentence, and so long as no Event of Default shall have occurred and be continuing, Letters of Credit containing customary "evergreen" provisions shall be issued if extended automatically so long as such extension is for a period not exceeding one year and is granted no earlier than three months before the Letter of Credit Issuer shall have received notice from the Administrative Agent or the Required Lenders that the conditions to such issuance, as set forth in this Section 2.04 and in Section 4.02, have not been metthen existing expiry date thereof.

Appears in 1 contract

Samples: Credit Agreement (Integrated Energy Technologies Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.