Completion of a Utilisation Request for Letters of Credit shall not apply.
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(A) it specifies that it is for a Letter of Credit;
(B) it specifies the amount that is to be utilised under the Facility;
(C) the proposed Utilisation Date is a Business Day within the Availability Period;
(D) the currency and amount of the Letter of Credit comply with clause 7.5 (Amount);
(E) the form of Letter of Credit is attached;
(F) the Expiry Date of the Letter of Credit falls on or before the Final Repayment Date for the Facility; and
(G) the delivery instructions for the Letter of Credit are specified.
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit under either Revolving Facility is irrevocable and will not be regarded as having been duly completed unless:
(a) it specifies that it is for a Letter of Credit;
(b) it specifies the Revolving Facility to be utilised;
(c) the proposed Utilisation Date is a Business Day within the Availability Period;
(d) the currency and amount of the Letter of Credit comply with Clause 6.5 (Currency and amount);
(e) the form of Letter of Credit is attached;
(f) the Expiry Date of the Letter of Credit falls on or before the date which is three hundred and sixty five (365) days after the Utilisation Date and in any event on or prior to the Final Maturity Date, which shall include Letters of Credit which are by their terms automatically renewable subject to Clause 6.8 (Renewal of a Letter of Credit);
(g) the identity of the beneficiary is specified and such beneficiary is:
(i) a beneficiary approved for this purpose by the Issuing Agent (acting on the instructions of all the Lenders under the Revolving Facility to be utilised, in turn acting reasonably); and
(ii) incorporated in a country or otherwise exists under the laws of a country in respect of which there is no policy, law or regulation applicable to the Issuing Agent or any Lender which would restrict the Issuing Agent or any Lender from entering into and performing the transactions contemplated by the Letter of Credit;
(h) the delivery instructions for the Letter of Credit are specified; and
(i) such other matters as the Issuing Agent may require (acting reasonably) are included. In the case of a request for an amendment of any outstanding Letter of Credit, such Utilisation Request shall specify (i) the Letter of Credit to be amended; (ii) the proposed date of amendment thereof (which shall be a Business Day); and (iii) the nature of the proposed amendment.
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable (except where otherwise provided for in this Agreement) and will not be regarded as having been duly completed unless:
(A) the proposed Utilisation Date is a Business Day within the Availability Period;
(B) the term of the Letter of Credit requested is not more than five years;
(C) the currency and amount of the Letter of Credit requested complies with clauses 6.4 (Amount), 6.6 (Issue of Letters of Credit) and 6.7 (Conditions relating to Optional Currencies) respectively;
(D) the form of the Letter of Credit is in the form set out in paragraph (A) or (B) of the definition of “Letter of Credit” in clause 1.1 (Definitions), or is approved by the LC Issuing Bank pursuant to clause 6.2 (Delivery of a Utilisation Request for Letters of Credit); and
(E) the delivery instructions for the Letter of Credit are specified; and
(F) it is accompanied by extracts of those underlying documents related to the Letter of Credit which are reasonably required and requested by the LC Issuing Bank to facilitate the negotiation and issuance of the Letter of Credit.
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(a) it specifies that it is for a Letter of Credit;
(b) it identifies the Borrower of the Letter of Credit;
(c) it identifies the Issuing Bank which has agreed to issue the Letter of Credit;
(d) the proposed Utilisation Date is a Business Day within the Availability Period;
(e) the proposed Expiry Date is a Business Day falling prior to the Termination Date or if the proposed Expiry Date is not a Business Day falling prior to the Termination Date, then a date to which the Issuing Bank has given its prior consent;
(f) the currency and amount of the Letter of Credit comply with Clause 6.5 (Currency and amount);
(g) the form of Letter of Credit is attached;
(h) the delivery instructions for the Letter of Credit are specified; and
(i) the beneficiary identified is approved by the Issuing Bank (acting reasonably).
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(a) it identifies the Borrower of the Letter of Credit;
(b) the proposed Utilisation Date is a Business Day within the Availability Period applicable to the Revolving Facility;
(c) the currency and amount of the Letter of Credit comply with Clause 6.4 (Currency and amount);
(d) if the Letter of Credit is not in the Issuing Bank’s standard form, the form of Letter of Credit is attached;
(e) the Expiry Date of the Letter of Credit is no more than 3 years from the date of issue; and
(f) the identity of the beneficiary is approved by all the Lenders (acting reasonably).
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(a) it specifies that it is for a Letter of Credit;
(b) it identifies the Issuing Person which is to issue the Letter of Credit;
(c) the proposed Utilisation Date is a Business Day within the Availability Period applicable to Facility C;
(d) the currency and amount of the Letter of Credit comply with Clause 6.4 (Currency and amount);
(e) the form of Letter of Credit is attached and is substantially in the form set out in Schedule 11 (Form of Letter of Credit) or another form that has been agreed in writing by the Issuing Person;
(f) the delivery instructions for the Letter of Credit are specified;
(g) the identity of the beneficiary of the Letter of Credit is the government of New South Wales or any other beneficiary approved by the Issuing Person and the Majority Lenders; and
(h) in the case of bank guarantees, the underlying contract or agreement in respect of which the Letter of Credit is issued is specified.
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(a) it specifies that it is for a letter of Credit;
(b) the proposed Utilisation Date is a Business Day within the Availability Period;
(c) the currency and amount of the Letter of Credit comply with Clause 5A.5 (Currency and amount);
(d) the form of Letter of Credit is attached (which form shall be substantially as set out in Schedule 8 (Form of Letter of Credit);
(e) the Expiry Date of the Letter of Credit falls on or before the earlier of (i) a date which is no later than 12 months after the date of issue of the Letter of Credit and (ii) the Letter of Credit Final Repayment Date;
(f) the delivery instructions for the Letter of Credit are specified; and
(g) the identity of the beneficiary of the Letter of Credit is the Beneficiary or Beneficiaries (as that term is defined in Schedule 8 (Form of Letter of Credit) or any other beneficiary approved by the Majority Lenders).
Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit is irrevocable and will not be regarded as having been duly completed unless:
(a) it specifies that it is for a Letter of Credit;
(b) the proposed Utilisation Date is a Business Day within the Availability Period;
(c) the currency and amount of the Letter of Credit comply with Clause 6.5 (Currency and amount);
(d) the form of Letter of Credit is attached;
(e) the Expiry Date of the Letter of Credit falls on or before the Termination Date;
(f) the delivery instructions for the Letter of Credit are specified; and
(g) the identity of the beneficiary of the Letter of Credit has been approved by the Issuing Bank, such approval not to be unreasonably withheld.
