Common use of Conditions to All Letters of Credit Clause in Contracts

Conditions to All Letters of Credit. The obligation of any Issuing Lender to issue any Letter of Credit hereunder is subject to prior or concurrent satisfaction of all of the following conditions: A. On or before the date of issuance of any Letter of Credit hereunder, the applicable Issuing Lender shall have received, in accordance with the provisions of subsection 2.7B, a Notice of Issuance of Letter of Credit relating to the proposed Letter of Credit, all other information specified in subsection 2.7B and such other documents as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. B. On or before the date of issuance of such Letter of Credit, each of the conditions set forth in subsection 3.1 shall have been satisfied as of the Effective Date, and, on such date of issuance, all conditions precedent described in subsection 3.2B shall be satisfied to the same extent as though the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date.

Appears in 1 contract

Samples: Credit Agreement (Homestake Mining Co /De/)

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Conditions to All Letters of Credit. The obligation issuance of any Issuing Lender to issue any Letter of Credit by any Lender hereunder is subject to prior or concurrent satisfaction of all of the following conditions: A. On or before the date of issuance of any such Letter of Credit hereunderCredit, Administrative Agent (and the applicable Issuing Lender Lender, if Administrative Agent is not the Issuing Lender) shall have received, in accordance with the provisions of subsection 2.7B2.8B, a an originally executed Notice of Issuance of Letter of Credit relating to requesting the proposed issuance of such Letter of Credit, all other information specified in subsection 2.7B 2.8B, and such other documents as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. B. On or before the date of issuance of such Letter of Credit, each of the conditions set forth in subsection 3.1 shall have been satisfied as of the Effective Date, and, on such date of issuance, all conditions precedent described in subsection 3.2B shall be satisfied to the same extent as though the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

Conditions to All Letters of Credit. The obligation issuance of any Issuing Lender to issue any Letter of Credit by any Lender hereunder is subject to prior or concurrent satisfaction of all of the following conditions: A. On or before the date of issuance of any such Letter of Credit hereunderCredit, Administrative Agent (and the applicable Issuing Lender Lender, if Administrative Agent is not the Issuing Lender) shall have received, in accordance with the provisions of subsection 2.7B2.8B, a an originally executed Notice of Request for Issuance of Letter of Credit relating to requesting the proposed issuance of such Letter of Credit, all other information specified in subsection 2.7B 2.8B, and such other documents as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. B. On or before the date of issuance of such Letter of Credit, each of the conditions set forth in subsection 3.1 shall have been satisfied as of the Effective Date, and, on such date of issuance, all conditions precedent described in subsection 3.2B shall be satisfied to the same extent as though the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

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Conditions to All Letters of Credit. The obligation issuance of any Issuing Lender to issue any Letter of Credit by any Lender hereunder is subject to prior or concurrent satisfaction of all of the following conditions: A. On or before the date of issuance of any the initial Letter of Credit hereunderpursuant to this Agreement, each of the applicable conditions set forth in subsection 3.1 shall have been satisfied. B. On or before the date of issuance of such Letter of Credit, Administrative Agent (and the Issuing Lender Lender, if Administrative Agent is not the Issuing Lender) shall have received, in accordance with the provisions of subsection 2.7B2.8B, a an originally executed Notice of Issuance of Letter of Credit relating to requesting the proposed issuance of such Letter of Credit, all other information specified in subsection 2.7B 2.8B, and such other documents as the applicable Issuing Lender may reasonably require in connection with the issuance of such Letter of Credit. B. C. On or before the date of issuance of such Letter of Credit, each of the conditions set forth in subsection 3.1 shall have been satisfied as of the Effective Date, and, on such date of issuance, all conditions precedent described in subsection 3.2B shall be satisfied to the same extent as though the issuance of such Letter of Credit were the making of a Loan and the date of issuance of such Letter of Credit were a Funding Date.

Appears in 1 contract

Samples: Credit Agreement (Owens Illinois Inc /De/)

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