Completion of Letters of Credit. The Fronting Bank is authorised to issue any Letter of Credit pursuant to Clause 5 (Utilisation) by:
(a) completing the issue date and the proposed Expiry Date of that Letter of Credit; and
(b) executing and delivering that Letter of Credit to the relevant recipient on the Utilisation Date.
Completion of Letters of Credit. 3.3.1 If the conditions set out in this Agreement have been met, the Agent shall notify the Lenders of the Utilisation Request and confirm satisfaction of such conditions and the Agent is hereby authorised to arrange for the issue or amendment of any Letter of Credit by:
(a) completing the Commencement Date and the Expiry Date of such Letter of Credit;
(b) completing the schedule to such Letter of Credit with the percentage participation of each Lender as allocated pursuant to the terms hereof;
(c) (in the case of an amendment increasing the amount thereof) amending such Letter of Credit in such manner as Lloyd’s may agree; and
(d) executing such Letter of Credit on behalf of each Lender and following such execution delivering such Letter of Credit to Lloyd’s on the Utilisation Date.
3.3.2 The Agent shall notify each Lender, no later than two Business Days prior to the proposed Utilisation Date (or by such shorter time as may be agreed to by all of the Lenders), of the Letter of Credit that is to be issued by the Agent on behalf of the Lenders, the proposed Term, the aggregate principal amount of the Letter of Credit and the amount of the Letter of Credit allocated to such Lender pursuant to this Agreement.
3.3.3 Each Lender will participate in each Letter of Credit through its Facility Office in its Proportion.
Completion of Letters of Credit. The Agent is authorised to arrange for the issue of any Letter of Credit pursuant to Clause 3.1 (Utilisation Conditions for the Facility) by:
Completion of Letters of Credit. The Issuing Bank relating to any Letter of Credit is hereby authorised to issue such Letter of Credit pursuant to Clause 4.3 (Issue of Letters of Credit) by:
(a) completing the issue date and Expiry Date of such Letter of Credit; and
(b) executing and delivering such Letter of Credit to the relevant recipient on the Utilisation Date.
Completion of Letters of Credit. The Agent is authorised to arrange for the issue of any Letter of Credit pursuant to Clause 3.1 (Utilisation Conditions for the Facility) by:
3.3.1 completing the Effective Date and the proposed Expiry Date of such Letter of Credit;
3.3.2 completing the schedule to such Letter of Credit with the percentage participation of each Bank as allocated pursuant to the terms hereof; and
3.3.3 executing such Letter of Credit on behalf of each Bank and following such execution delivering such Letter of Credit to Lloyd's on the Utilisation Date, provided that the Agent shall not deliver any such Letter of Credit to Lloyd's unless the Agent is satisfied that (a) Lloyd's has cancelled (or will upon such delivery cancel) the Original Letters of Credit and (b) all amounts outstanding in respect of the Original Letters of Credit have been paid in full.
Completion of Letters of Credit. The Agent is authorised to issue each Letter of Credit pursuant to Clause 3.1 (Utilisation Conditions for the Facility) by:
3.3.1 completing the issue date, the proposed Expiry Date and the other details required in respect of such Letter of Credit, in accordance with the Utilisation Request for such Letter of Credit;
3.3.2 completing the schedule to such Letter of Credit with the percentage participation of each Lender as allocated pursuant to the terms hereof; and
3.3.3 executing such Letter of Credit on behalf of each Lender and following such execution delivering such Letter of Credit together with a Credit Institution Confirmation with respect to each Lender to Lloyd’s on the Utilisation Date, and, promptly after each such Letter of Credit is delivered to Lloyd’s, the Agent shall send a copy of it to the Borrower that requested such Letter of Credit.
Completion of Letters of Credit. The Agent shall arrange for the issue of any Letter of Credit pursuant to Clause 4.3 (Utilisation Conditions) by:
(a) completing the Commencement Date and the proposed Expiry Date of such Letter of Credit;
(b) (in the case of an amendment increasing the amount thereof) amending such Letter of Credit in such manner as Lloyd’s may agree;
(c) completing Schedule 1 to such Letter of Credit with the percentage participation of each Lender as allocated pursuant to the terms of this Agreement; and
(d) executing such Letter of Credit and following such execution delivering such Letter of Credit to Lloyd’s on the Utilisation Date.
Completion of Letters of Credit. The Issuing Bank relating to any Letter of Credit is hereby authorised to issue such Letter of Credit pursuant to Clause 3.3 (Making of Advances and Issue of Letters of Credit) by:
3.6.1 completing the issue date and Expiry Date of such Letter of Credit; and
3.6.2 executing and delivering such Letter of Credit to the relevant recipient on the Utilisation Date.
Completion of Letters of Credit. The Agent is authorised to arrange for the issue or amendment of any Letter of Credit pursuant to clause 3.1 (Delivery of a Utilisation Request) by:
(a) completing the Commencement Date and the proposed Expiry Date of such Letter of Credit;
(b) (in the case of an amendment increasing the amount or amending the tenor thereof) amending such Letter of Credit in such manner as Xxxxx’x may agree (including, where relevant, revoking any Termination Notice and issuing a new Revocation Notice pursuant to clause 3.10 (Revocation Notice));
(c) completing Schedule 1 to such Letter of Credit with the percentage participation of each Lender as allocated pursuant to the terms hereof;
(d) executing such Letter of Credit and following such execution delivering such Letter of Credit to Xxxxx’x on the Utilisation Date; and
(e) issuing such formal notification as Lloyd’s may require confirming that the Letter of Credit has been issued or amended.
Completion of Letters of Credit. The Agent is authorised to arrange for the issue of any Letter of Credit pursuant to Clause 3.1 (Utilisation Conditions for the Facility) by:
3.3.1 completing the Effective Date and the proposed Expiry Date of such Letter of Credit;
3.3.2 completing the schedule to such Letter of Credit with the percentage participation of each Bank as allocated pursuant to the terms hereof;
3.3.3 executing such Letter of Credit on behalf of each Bank and following such execution delivering such Letter of Credit to Lloyd's on the Utilisation Date; and
3.3.4 executing and delivering a "principal private residence letter" in respect of each such Letter of Credit substantially in the form set out in Appendix 3 to Schedule 6 (Form of Letter of Credit). provided that the Agent shall not deliver any such Letter of Credit to Lloyd's unless the Agent is satisfied that (a) Lloyd's has cancelled (or will contemporaneously with such delivery cancel) the letters of credit issued under the Existing Facilities, and (b) that all amounts outstanding under the Existing Facilities have been paid in full.
