Common use of Completion of a Utilisation Request for Letters of Credit Clause in Contracts

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 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 identifies On-Loan Borrower as the Revolving Facility borrower of the Letter of Credit and that the Letter of Credit is to be utiliseddelivered pursuant to an obligation of the Senior Borrower under the On-Loan Facility Agreement to an On-Loan Borrower; (c) it identifies the On-Loan Borrower referred to in paragraph (b) above; (d) it identifies the Issuing Bank which has agreed to issue the Letter of Credit; (e) the proposed Utilisation Date is a Business Day within the Availability PeriodPeriod applicable to the Revolving Facility; (df) the currency and amount of the Letter of Credit comply with Clause 6.5 6.4 (Currency and amount); (eg) the form of Letter of Credit and an original of each document evidencing any related Supplemental Security is attached; (fh) the Expiry Date of the Letter of Credit falls on a date falling 12 months from its Utilisation Date, or, if earlier, on or before the date which is three hundred and sixty five (365) days after the Utilisation Termination Date and in any event on or prior relation to the Final Maturity Date, which shall include Letters of Credit which are by their terms automatically renewable subject Revolving Facility except to Clause 6.8 (Renewal of the extent that the Facility Agent and the Issuing Bank agree to a Letter of Credit)later date; (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 (ij) such other matters as it is accompanied by a utilisation request pursuant to the Issuing Agent may require On-Loan Facility Agreement which contains the information set out in paragraphs (acting reasonablya) are included. In the case of a request for an amendment of any outstanding Letter of Credit, such Utilisation Request shall specify to (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 amendmentabove.

Completion of a Utilisation Request for Letters of Credit. Each Utilisation Request for a Letter of Credit under either Revolving Facility is shall be irrevocable and will not be regarded as having been duly completed unless: (a) it specifies that it is for a identifies the Borrower of the Letter of Credit; (b) it specifies identifies the Issuing Bank that is to issue the Letter of Credit in accordance with paragraph (c) of Clause 6.1 (The Revolving Facility to be utilisedFacility); (c) the proposed Utilisation Date is a Business Day within the Availability PeriodPeriod applicable to the Revolving Facility; (d) the currency and amount of the Letter of Credit comply with Clause 6.5 6.4 (Currency and amount); (e) the form of Letter of Credit is attachedattached to the Utilisation Request and is approved by the relevant Issuing Bank (acting reasonably) or is substantially in the form set out in Schedule 12 (Form of Letter of Credit); (f) the Expiry Date of the Letter of Credit falls on or before the date which is three hundred and sixty five (365) days Termination Date in respect of the Revolving Facility provided that the Expiry Date may fall after the Utilisation Termination Date and in any event on for the Revolving Facility if the relevant Borrower has provided cash cover or prior procures that a back-to-back bank guarantee acceptable to the Final Maturity Date, which shall include Letters relevant Issuing Bank (acting reasonably) be issued in favour of the Issuing Bank for that Letter of Credit which are by their terms automatically renewable subject for the period from the Termination Date for the Revolving Facility to Clause 6.8 (Renewal and including) the Expiry Date of a the relevant Letter of Credit); (g) the identity Term 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 CreditCredit is 12 Months or less (or such longer period agreed with the Issuing Bank and the Lenders); (h) the delivery instructions for the Letter of Credit are specified; (i) the beneficiary of the Letter of Credit is identified; and (ij) such other matters as a Lender or the Issuing Agent may require Bank is not precluded from issuing or counter-indemnifying (acting reasonablyas applicable) are included. In a Letter of Credit by law or regulation to the case beneficiary of a request for an amendment of any outstanding the 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.