Common use of Amendment and Renewal of Letters of Credit Clause in Contracts

Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be Issued upon the irrevocable written request of the Company received by the Issuing Bank (with a copy sent by the Company to the Administrative Agent) at least three Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of Issuance. Each such request for Issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (i) the proposed date of Issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing

Appears in 1 contract

Samples: Credit Agreement (Pentair Inc)

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Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be Issued issued upon the irrevocable written request of the Company Borrower received by the respective Issuing Bank (with a copy sent by the Company Borrower to the Administrative Agent) at least three Business Days five days (or such shorter time as the such Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of Issuanceissuance. Each such request for Issuance issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C a Letter of Credit Application, and shall specify in form and detail reasonably satisfactory to the such Issuing Bank: (i) the proposed date of Issuance issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawingdrawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (PPC Publishing Corp)

Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be Issued issued upon the irrevocable written request of the Company Borrower received by the an Issuing Bank Lender (with a copy sent by the Company Borrower to the Administrative Agent) at least three Business Days five days (or such shorter time as the such Issuing Bank Lender may agree in a particular instance in its sole discretion) prior to the proposed date of Issuanceissuance. Each such request for Issuance issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C a Letter of Credit Application, and shall specify in form and detail reasonably satisfactory to the such Issuing BankLender: (i) the proposed date of Issuance issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawingdrawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Lender may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Communications Instruments Inc)

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Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be Issued upon the irrevocable written request of the Company received by the Issuing Bank (with a copy sent by the Company to the Administrative Agent) at least three Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of Issuance. Each such request for Issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (i) the proposed date of Issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawingdrawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.

Appears in 1 contract

Samples: Long Term Credit Agreement (Pentair Inc)

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