Amendments to Letters of Credit. Any request for amendment to or extension of the expiry date of any previously issued Letter of Credit shall be submitted pursuant to a Credit Request by the Borrower to the Issuing Bank not later than three Business Days prior to the date of the proposed amendment or extension. The Issuing Bank shall not amend or extend the expiry date of any Letter of Credit if the issuance of a new Letter of Credit having the same terms and conditions as such Letter of Credit as so amended or extended would be prohibited by any provision of this Agreement.
Amendments to Letters of Credit. (a) At any time during the Commitment Period:
(i) except as otherwise provided in Section 2.7(a), Evergreen Letters of Credit shall be automatically extended unless at least two (2) Business Days prior to the Beneficiary Notification Date, the Agent shall have received written notice from the Applicant, a Co-Applicant or a Bank that a Default or an Event of Default has occurred and is continuing in which event the Agent shall instruct the Issuing Bank to, and the Issuing Bank shall, notify the beneficiary of such Evergreen Letter of Credit on or before the Beneficiary Notification Date that the Stated Expiration Date of such Evergreen Letter of Credit will not be extended;
(ii) the Applicant, together with the Co-Applicant, if any, with respect to an Outstanding Letter of Credit, shall have the right to request in writing that such Outstanding Letter of Credit be amended, including an amendment to increase or reduce the undrawn face amount thereof and/or, in the case of a Letter of Credit other than an Evergreen Letter of Credit, to extend for up to one year from the date of such amendment the then Stated Expiration Date. Provided that (A) no Default or Event of Default shall exist and be continuing and (B) after giving effect thereto (1) the Letter of Credit Exposure does not exceed the Commitment and (2) the Letter of Credit Exposure with respect to Letters of Credit issued for the account of Subsidiaries of the Applicant which are not Material Insurance Subsidiaries does not exceed $15,000,000 in the aggregate, the Agent shall promptly request that the Issuing Bank amend such Letter of Credit to give effect to such increase, reduction, extension and/or other requested amendment, and the Issuing Bank shall either amend such Letter of Credit or issue a substitute Letter of Credit containing such amended terms. Notwithstanding the foregoing, in the event that a requested amendment of a Letter of Credit would reduce the amount available to be drawn thereunder, reduce the period during which drawings can be made thereunder or would otherwise be adverse to the beneficiary thereof, such amendment or such substitute Letter of Credit shall not, by its term, be effective unless and until such beneficiary shall have consented in writing thereto.
(b) Following the Termination Date, provided that no Default or Event of Default shall then exist and be continuing, the Applicant, together with the Co-Applicant, if any, with respect to an Outstanding Letter of Credit, m...
Amendments to Letters of Credit. (a) If the Borrowers or the Issuing Banks wish to amend a Letter of Credit which has been issued, the Agent may amend and re-issue that Letter of Credit in the form agreed by the Borrowers and the Issuing Banks.
(b) If, in accordance with Clause 19 (Changes to the Issuing Banks), an Issuing Bank assigns, transfers or novates its participation in a Letter of Credit which has been issued, the Borrowers and the Issuing Banks hereby authorise the Agent to amend and re-issue that Letter of Credit to reflect the New Issuing Bank’s (as defined in clause 19.1(a)) participation without further consultation with the Borrower or the Issuing Banks.
Amendments to Letters of Credit. The Issuer shall not agree to an amendment or modification to any Letter of Credit unless the Required Banks have granted their prior written consent thereto, which consent shall not be unreasonably withheld or delayed; provided, however, the Issuer may amend or otherwise modify such Letter of Credit without the need to obtain consent of the Required Banks if the respective Letter of Credit affected thereby could have been issued under this Agreement in such amended or modified form, but if the undrawn available amount under such Letter of Credit is increased thereby, only so long as a notice is sent by the Borrower under Section 3.02(a). In the case of any conflict between provisions of any Letter of Credit Application or this Agreement, the provisions of this Agreement shall govern, but only for so long as this Agreement is in effect. NY:791404.13
Amendments to Letters of Credit. (A) The Issuer and the Banks agree that, at the _request of the Agent and on and subject to the terms and _conditions hereinafter set forth (including Article IV hereof and _the receipt by the Agent of the Company's completed irrevocable _written request in the form of EXHIBIT C hereto no later than _11:00 a.m. (San Francisco time) on the third Business Day prior _to the requested date of issuance of such amendment and, where _required as determined by the Agent and the Issuer, the consent _of the corresponding beneficiaries), from time to time on any _Business Day during the Availability Period, the Issuer shall _issue on the date requested by the Company the following types of _amendments to Letters of Credit as requested by the Company: (i) _amendments extending or accelerating the expiry dates of Letters _of Credit, provided that no extended expiry date shall be later _than the earlier of (A) six months after the expiry date of such _Letter of Credit immediately prior to such amendment, and (B) the _Termination Date; and (ii) amendments increasing or decreasing _the maximum amounts available for drawings under Letters of _Credit, provided that no such increase shall cause the Effective _Amount of the Letter of Credit Obligations as of the date of the _amendment to exceed the Aggregate Commitment. _ _
Amendments to Letters of Credit. Part 1, Article 11.3.1 of the Construction Contract is amended by deleting it in its entirety and replacing it with the following:
11.3.1 on the TIFIA Effective Date, Letters of Credit in an aggregate amount equal to $35,405,000, which amount shall be modified on the Financial Close Date to an amount equal to $33,123,750, as such amount may be further modified in accordance with Part 1, Article 8.13;”.
Amendments to Letters of Credit. The Borrower, and the Lender agree that the terms and provisions of this Agreement shall be applicable to any amendment, modification or supplement hereafter made to any Letter of Credit.
Amendments to Letters of Credit. A. Clause (i) of the second sentence of Section 3.01 of the Credit Agreement is amended and restated in its entirety as follows:
(i) each Issuing Lender agrees, subject to the terms and conditions set forth herein and in that certain letter dated August 28, 2002 addressed to Bank of America and signed by Bank of the West, to (A) issue Letters of Credit for the account of the Company, and amend or renew Letters of Credit previously issued by such Issuing Lender, in accordance with subsection 3.02(c), and (B) to honor drafts under the Letters of Credit;"
B. Section 3.01 of the Credit Agreement is hereby amended by adding at the end thereof the following: "The parties hereto agree that the Existing Bank of the West L/Cs are "Letters of Credit" under this Agreement to the same extent as if initially issued hereunder and each Lender shall be deemed to have irrevocably purchased from the Issuing Lender of such Existing Bank of the West L/Cs a participation in such Letters of Credit and drawings thereunder in an amount equal to such Lender's Pro Rata Share of the maximum amount which is or at any time may become available to be drawn thereunder."
C. Clause (a)(i) of Section 3.08 of the Credit Agreement is hereby amended and restated in its entirety as follows:
(i) Bank of America, in its capacity as the Issuing Lender for its own account with respect to each Standby Letter of Credit a fronting fee as agreed to by Bank of America, in its capacity as the Issuing Lender and the Company pursuant to that certain side letter dated as of August 28, 2002;"
D. Clause (b) of Section 3.08 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Amendments to Letters of Credit. Each Letter of Credit shall be amended, in each case as contemplated by Section 2.01, upon notice by the Account Party to the L/C Issuer, given not later than 11:00 a.m. (New York City time) on the fifth Business Day prior to the proposed effective date of such amendment (or such shorter notice as the L/C Issuer may agree). Each such notice of amendment to a Letter of Credit shall be by telephone, confirmed immediately in writing or by facsimile, specifying therein the requested (i) Letter of Credit to be amended, (ii) effective date of the amendment thereof (which shall be a Business Day), and (iii) amount of the reduction or increase (as applicable) in the Available Amount of such Letter of Credit. If the requested form of such amendment (to the extent different from Exhibit C hereto) is acceptable to the L/C Issuer in its reasonable discretion, the L/C Issuer will, upon the satisfaction of the applicable conditions set forth in Article 3, subject to the prior written consent of the applicable Beneficiary, enter into such amendment.
Amendments to Letters of Credit. The Originator, from time to time, may request the Company to request the Issuer, on the terms and subject to the conditions set forth in the Secured Credit Agreement, (a) to revise the documentation requirements for any outstanding Letter of Credit, (b) to extend the expiry date (for a period of one year or less) of any outstanding Letter of Credit, (c) to increase the stated amount of any outstanding Letter of Credit or (d) to decrease the stated amount of any outstanding Letter of Credit.
