Completion of Requests. (a) A Request for a Letter of Credit will not be regarded as being duly completed unless: (i) it specifies that it is for a Letter of Credit and whether it is to be a standby Letter of Credit or not; (ii) the Utilisation Date is a Business Day falling within the Availability Period; (iii) the amount of the Letter of Credit requested is: (A) not exceeding the maximum undrawn amount available under the L/C Facility on the proposed Utilisation Date; or (B) such other amount as the Issuing Bank may agree; (iv) in the case of a Letter of Credit which is a standby letter of credit: (A) it is in the form of Letter of Credit (in substantially the form of Schedule 9 (Form of Letter of Credit)); and (B) all relevant supporting documents are attached; (v) in the case of a Letter of Credit which is not a standby letter of credit, the relevant application form (in substantially the form of applications generally accepted by the Issuing Bank for general letter of credit business from time to time) and all relevant supporting documents are attached; (vi) the expiry date (including the last day of the issuance period) of the Letter of Credit falls on or before one Business Day before the Final Maturity Date; (vii) the expiry date of the Letter of Credit does not exceed: (A) in respect of a Letter of Credit requested for the purpose of equipment purchases, 540 days from the Utilisation Date; and (B) in respect of a Letter of Credit requested for any other general purpose, 150 days from the Utilisation Date; and (viii) the delivery instructions for the Letter of Credit are specified. (b) For the purpose of (a)(vii) above, if the expiry date of the Letter of Credit falls on a day other than a Business Day, the expiry date of the Letter of Credit shall be the Business Day immediately preceding such day. (c) Only one Letter of Credit may be requested in a Request, and only three Requests for Letters of Credit may be delivered on any day.
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Samples: Facility Agreement (TTM Technologies Inc), Facility Agreement (TTM Technologies Inc)
Completion of Requests. (a) A Request for a Letter of Credit will not be regarded as being duly completed unless:
(ia) it identifies the Borrower;
(b) it specifies that it is for a Letter Letters of Credit and whether it is to be a standby Letter of Credit or notCredit;
(iic) the Utilisation Date is a Business Day falling within the Availability Period;
(iiid) the amount of the Letter of Credit requested is:
(Ai) not exceeding the maximum undrawn amount available under the L/C Tranche D Facility on the proposed Utilisation Date; or
(Bii) such other amount as the Issuing Bank may agree;
(ive) in the case of a Letter of Credit which is a standby letter of credit:
(Ai) it is in the form of Letter of Credit (in substantially the form of Schedule 9 (Form of Letter of Credit9)); and;
(Bii) all relevant supporting documents are attached; and
(iii) the proposed Letter of Credit is to be issued in favour of banks with letters of credit already issued as at the date of the first Request for a Loan;
(vf) in the case of a Letter of Credit which is not a standby letter of credit, the relevant application form (in substantially the form of applications generally accepted by the Issuing Bank for general letter of credit business from time to time) and all relevant supporting documents are attached;
(vig) the expiry date (including the last day of the issuance usance period) of the Letter of Credit falls on or before one Business Day before the Final Maturity Date;
(viih) the expiry date of the Letter of Credit does not exceed:
(Ai) in respect of a Letter Letters of Credit requested for the purpose of equipment purchases, 540 days from the Utilisation Date; and
(Bii) in respect of a Letter Letters of Credit requested for the purpose of any other general purpose, 150 days from the Utilisation Date; and
(viiii) the delivery instructions for the Letter of Credit are specified.
(b) For the purpose of (a)(vii) above, if the expiry date of the Letter of Credit falls on a day other than a Business Day, the expiry date of the Letter of Credit shall be the Business Day immediately preceding such day.
(c) . Only one Letter of Credit may be requested in a Request, and only three Requests for Letters of Credit may be delivered on any day.
Appears in 2 contracts
Samples: Credit Agreement (TTM Technologies Inc), Credit Agreement (TTM Technologies Inc)
Completion of Requests. (a) A Request for a Letter of Credit will not be regarded as being duly completed unless:
(i) it identifies the Borrower;
(ii) it specifies that it is for a Letter of Credit and whether it is to be a standby Letter of Credit or not;
(iiiii) the Utilisation Date is a Business Day falling within the Availability Period;
(iiiiv) the amount of the Letter of Credit requested is:
(A) (in respect of any Letter of Credit to be issued on the first Utilisation Date for the purpose set out in paragraph (a) of Clause 3.3 (Tranche C Facility – Letters of Credit)) equal to the amount in the aggregate amount of the corresponding Existing Letters of Credit of the same currency; or
(B) not exceeding the maximum undrawn amount available under the L/Tranche C Facility on the proposed Utilisation Date; or
(BC) such other amount as the Issuing Bank may agree;
(ivv) in the case of a Letter of Credit which is a standby letter of credit:
(A) it is in the form of Letter of Credit (in substantially the form of Schedule 9 (Form of Letter of Credit)); and
(B) all relevant supporting documents are attached;
(vvi) in the case of a Letter of Credit which is not a standby letter of credit, the relevant application form (in substantially the form of applications generally accepted by the Issuing Bank for general letter of credit business from time to time) and all relevant supporting documents are attached;
(vivii) in the case of any Letter of Credit to be issued on the first Utilisation Date for the purpose set out in paragraph (a) of Clause 3.3 (Tranche C Facility – Letters of Credit) the Letter of Credit is to be issued in favour of the Existing Issuing Bank;
(viii) the expiry date (including the last day of the issuance period) of the Letter of Credit falls on or before one Business Day before the Final Maturity Date;
(viiix) the expiry date of the Letter of Credit does not exceed:
(A) in respect of a Letter of Credit requested for the purpose of equipment purchases, 540 days from the Utilisation Date; and
(B) in respect of a Letter of Credit requested for any other general purpose, 150 days from the Utilisation Date; and
(viiix) the delivery instructions for the Letter of Credit are specified.
(b) For Other than in the purpose case of (a)(vii) above, if the expiry date of the Letter any Letters of Credit falls on a day other than a Business Dayto be issued in accordance with paragraph (a) of Clause 3.3 (Tranche C Facility – Letters of Credit), the expiry date of the Letter of Credit shall be the Business Day immediately preceding such day.
(c) Only only one Letter of Credit may be requested in a Request, and only three Requests for Letters of Credit may be delivered on any day.
(c) A Letter of Credit may only be issued on or after the first Utilisation Date of the Tranche A Loan.
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