Common use of Issuance, Amendment and Renewal of Letters of Credit Clause in Contracts

Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Each Letter of Credit shall be issued upon the irrevocable written request of the Company received by the Issuing Bank (with a copy sent by the Company to the Agent) at least four Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.

Appears in 1 contract

Samples: Credit Agreement (Mail Well Inc)

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Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Each Letter of Credit shall be issued upon the irrevocable written request of the Company Borrower received by the Issuing Bank (with a copy sent by the Company to the Agent) at least four Business Days days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require. (b) From time to time while a Letter of Credit is outstanding and prior to the Revolving Expiry Date, the Bank will, upon the written request of the Borrower received by the Bank at least five days (or such shorter time as the Bank may

Appears in 1 contract

Samples: Credit Agreement (Genus Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Each Letter of Credit shall be issued upon the irrevocable written request of the Company received by the Issuing Bank (with a copy sent by the Company to the Agent) at least four two Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.;

Appears in 1 contract

Samples: Quarterly Report

Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Notice to Issuing Bank of Issuance Request. Each Letter of Credit shall be issued upon the irrevocable written request of the Company Borrower received by the Issuing Bank (with a copy sent by the Company Borrower to the Agent) at least four Business Days (or such shorter time as not later than the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuanceRequired Notice Date. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.

Appears in 1 contract

Samples: Credit Agreement (California Microwave Inc)

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Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Each Letter of Credit shall be issued upon the irrevocable written request of the Company Holdings received by the Issuing Bank L/C Issuer (with a copy sent by the Company Holdings to the Administrative Agent) at least four (4) Business Days (or such shorter time as the Issuing Bank L/C Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be by facsimile, confirmed immediately in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the Issuing BankL/C Issuer: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vi) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vii) such other matters as the Issuing Bank L/C Issuer may require.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) ---------------------------------------------------- Each Letter of Credit shall be issued upon the irrevocable written request of the Company Borrower received by the Issuing Bank (with a copy sent by the Company Borrower to the Agent) at least four Business Days five (5) days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance. Each such request for issuance of a Letter of Credit shall be sent by electronic transfer or facsimile, confirmed immediately in an original writing, in the form of an L/C Applicationa Letter of Credit Request Form, and shall specify in form and detail satisfactory to the Issuing Bank: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the Letter of Credit in case of any conditions permitting a drawing or drawings thereunder; (vi) the full text form of any certificate to be presented by the beneficiary in case standby letter of any drawing thereunder; and (vii) such other matters as the Issuing Bank may require.credit;

Appears in 1 contract

Samples: Credit Agreement (Industrial Holdings Inc)

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