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 Borrower received by the Issuing Lender (with a copy sent by the Borrower to the Administrative Agent) at least four (4) Business Days (or such shorter time as the Issuing Lender may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, in the form of a Letter of Credit Application, and shall specify in form and detail reasonably satisfactory to the Issuing Lender: (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 Lender may reasonably require.

Appears in 2 contracts

Samples: Credit Agreement (Meredith Corp), Credit Agreement (Meredith Corp)

AutoNDA by SimpleDocs

Issuance, Amendment and Renewal of Letters of Credit. (a) Each ---------------------------------------------------- Letter of Credit shall be issued upon the irrevocable written request of the Borrower Borrowers' Designee received by the Issuing Lender Bank (with a copy sent by the Borrower Borrowers' Designee to the Administrative Agent) at least four (4) Business Days in the case of Letters of Credit to be denominated in Dollars, and six Business Days in the case of any Offshore Currency Letters of Credit (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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 (and applicable Offshore Currency in the case of a proposed Offshore Currency 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 Lender Bank may reasonably require. The Dollar Equivalent Amount of any Offshore Currency Letter of Credit will be determined by the Agent for such Letter of Credit on the Computation Date therefor in accordance with subsection 2.5(a).

Appears in 2 contracts

Samples: Revolving Multicurrency Credit Agreement (Johns Manville Corp /New/), Revolving Multicurrency Credit Agreement (Johns Manville International Group Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender Issuer (with a copy sent by the Borrower Company to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance; provided, and approval by that five days' prior notice (or such shorter time as the Administrative Agent Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Offshore Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writingwriting (if required by the Issuer), in the form of a Letter an L/C Application (or such other form as shall be acceptable to the Issuer), or shall be by online letter of Credit Applicationcredit software acceptable to the Issuer, and shall specify in form and detail reasonably satisfactory to the Issuing LenderIssuer: (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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Offshore Currency; and (viiviii) such other matters as the Issuing Lender Issuer may reasonably require.

Appears in 2 contracts

Samples: Credit Agreement (Oshkosh Truck Corp), Credit Agreement (Oshkosh Truck Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender Bank (with a copy sent by the Borrower Company to the Administrative Agent) at least four (4) two Business Days (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimilefacsimile or electronic transmission, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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; (vii) the currency (which shall be Dollars or an Offshore L/C Currency) in which the Letter of Credit is to be denominated; and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (Payless Shoesource Inc), Multicurrency Credit Agreement (Payless Shoesource Holdings Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower received by the Issuing Lender Bank (with a copy sent by the Borrower to the Administrative Agent) prior to 10:00 a.m. (San Francisco time) on the proposed date of Issuance for Letters of Credit in the form of Exhibit H, I or J hereto and at least four (4) Business Days (or such shorter time as the Issuing Lender may agree in a particular instance in its sole discretion) days prior to the proposed date of issuance, and approval by the Administrative Agent Issuance for other forms of such requestLetters of Credit. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writingby telephone, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the applicable Issuing LenderBank: (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 Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Ferrellgas Partners Finance Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued Issued by the Issuing Banks upon the irrevocable written request of the Borrower Company received by the Issuing Lender (with a copy sent by the Borrower to the Administrative Agent) L/C Administrator at least four (4) 5 Business Days (or such shorter time as the Agent, the L/C Administrator and the Issuing Lender Banks may agree in a particular instance in its their sole discretion) prior to the proposed date of issuance, and approval by . The L/C Administrator shall promptly advise the Administrative Agent of any such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderL/C Administrator: (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 Beneficiary thereof; (v) the documents to be presented by the beneficiary 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 Beneficiary in case of any drawing thereunder; and (vii) such other matters as the L/C Administrator may require. The L/C Administrator is hereby authorized to execute and deliver each Letter of Credit on behalf of the Issuing Lender may reasonably requireBanks. In the event of a conflict between the provisions of this Agreement and the provisions of an L/C Application, this Agreement shall govern.

Appears in 1 contract

Samples: Letter of Credit Agreement (Delphi International LTD)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Representative received by the Issuing Lender an Issuer (with a copy sent by the Borrower Representative to the Administrative Agent) at least four (4) three Business Days (or such shorter time as the Issuing Lender an Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such requestIssuance. Each such request by the Borrower for issuance Issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit Applicationan L/C Application (or such other form as shall be acceptable to the Issuer), and shall specify in form and detail reasonably satisfactory to the Issuing Lenderapplicable Issuer: (i) the proposed date of issuance Issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount and Applicable Currency of the Letter of Credit; (iii) the expiry date of the Letter of Credit; (iv) the name and address of the account party and 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 Lender Issuer may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Commercial Vehicle Group, Inc.)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender applicable Issuer (with a copy sent by the Borrower such Issuer to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender such Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent ; provided that five days’ prior notice (or such shorter time as such Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Offshore Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writingwriting (if required by the applicable Issuer), in the form of a Letter an L/C Application (or such other form as shall be acceptable to such Issuer), or shall be by online letter of Credit Applicationcredit software acceptable to such Issuer, and shall specify in form and detail reasonably satisfactory to the Issuing Lendersuch Issuer: (i) the proposed date of issuance of the such Letter of Credit (which shall be a Business Day); (ii) the face amount of the such Letter of Credit; (iii) the expiry date of the such Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the such 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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Offshore Currency; and (viiviii) such other matters as the Issuing Lender such Issuer may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Representative received by the Issuing Lender Bank (with a copy sent by the Borrower Representative to the Administrative Agent) at least three days with respect to U.S. Dollar Letters of Credit, and at least four (4) Business Days days with respect to Offshore Currency Letters of Credit (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, immediately in the form of a Letter an L/C Application, or electronically using the Issuing Bank's automated personal computer based letter of Credit Applicationcredit initiation software, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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; (vii) whether the Letter of Credit is to be Issued in U.S. Dollars or an Offshore Currency and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (International Murex Technologies Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender applicable Issuer (with a copy sent by the Borrower such Issuer to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender such Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent ; provided that five days’ prior notice (or such shorter time as such Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Offshore Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writingwriting (if required by the applicable Issuer), in the form of a Letter an L/C Application (or such other form as shall be acceptable to such Issuer), or shall be by online letter of Credit Applicationcredit software acceptable to such Issuer, and shall specify in form and detail reasonably satisfactory to the Issuing Lendersuch 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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Offshore Currency; and (viiviii) such other matters as the Issuing Lender such Issuer may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender applicable Issuer (with a copy sent by the Borrower such Issuer to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender such Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent ; provided that five days’ prior notice (or such shorter time as such Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Alternative Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, United States mail, by overnight courier, by electronic transmission using the system provided by the applicable Issuer, by personal delivery or by any other means acceptable to the applicable Issuer and shall be confirmed promptly immediately in an original writingwriting (if required by the applicable Issuer), in the form of a Letter an L/C Application (or such other form as shall be acceptable to such Issuer), or shall be by online letter of Credit Applicationcredit software acceptable to such Issuer, and shall specify in form and detail reasonably satisfactory to the Issuing Lendersuch Issuer: (i) the proposed date of issuance of the such Letter of Credit (which shall be a Business Day); (ii) the face amount of the such Letter of Credit; (iii) the expiry date of the such Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the such 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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Alternative Currency; and (viiviii) such other matters as such Issuer may require. Additionally, the Issuing Lender Company shall furnish the applicable Issuer and the Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the applicable Issuer, the Agent and the Company may reasonably requireagree upon.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender Issuer (with a copy sent by the Borrower Company to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance; provided, and approval by that five days' prior notice (or such shorter time as the Administrative Agent Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Offshore Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit Applicationan L/C Application (or such other form as shall be acceptable to the Issuer), and shall specify in form and detail reasonably satisfactory to the Issuing LenderIssuer: (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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Offshore Currency; and (viiviii) such other matters as the Issuing Lender Issuer may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit which is Issued hereunder shall be issued Issued upon the irrevocable written request of the Borrower pursuant to a Notice of Borrowing (Letter of Credit) substantially in the applicable form attached hereto as Exhibit B-1 (except that it shall be addressed to the applicable Issuing Bank) received by the applicable Issuing Lender (with a copy sent by the Borrower to Bank and the Administrative AgentAgent by no later than 3:00 p.m. (New York City time) at least four (4) Business Days (or such shorter time as the Issuing Lender may agree in a particular instance in its sole discretion) prior to on the proposed date of issuance, and approval by the Administrative Agent of such requestIssuance. Each such request by the Borrower for issuance Issuance of a Letter of Credit shall be by electronic transfer or facsimile, confirmed promptly by the close of the next Business Day in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the applicable Issuing LenderBank and Administrative Agent: (i) the proposed date of issuance 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; (vii) whether the Letter of Credit is a Standby or Documentary Letter of Credit; and (viiviii) such other matters as the applicable Issuing Bank may require. The applicable Issuing Bank shall promptly notify each other Lender may reasonably requireby telecopier or electronic mail upon receipt of such Notice of Borrowing (Letter of Credit).

Appears in 1 contract

Samples: Credit Agreement And Agreement Regarding Departing (International Assets 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 on behalf of the respective Borrower received by the Issuing Lender Bank (with a copy sent by the Borrower to the Administrative Agent) at least four one Business Day in the case of Letters of Credit denominated in Dollars (4) and five Business Days (or such shorter time as in the Issuing Lender may agree case of Letters of Credit denominated in a particular instance in its sole discretionan Offshore Currency) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (i) the identity of the applying Borrower; (ii) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (iiiii) the face amount of the Letter of Credit, and if such Letter of Credit is to be an Offshore Currency L/C, the Applicable Currency; (iiiiv) the expiry date of the Letter of Credit; (ivv) the name and address of the beneficiary thereof; (vvi) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vivii) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (System Software Associates Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit which is Issued hereunder shall be issued Issued upon the irrevocable written request of a Co-Borrower pursuant to a Notice of Borrowing (Letter of Credit) in the Borrower applicable form attached hereto as Exhibit A received by the Issuing Lender Bank (with a copy sent by the Borrower Co-Borrowers to the Administrative Agent) at least four by no later than 1:00 p.m. (4New York City time) Business Days (or such shorter time as the Issuing Lender may agree in a particular instance in its sole discretion) prior to on the proposed date of issuance, and approval by the Administrative Agent of such requestIssuance. Each such request by the Borrower for issuance Issuance of a Letter of Credit shall be by electronic transfer or facsimile, confirmed promptly immediately in an original writing, writing (delivered by facsimile without any requirement of confirmation by telephone) in the applicable form of a Letter of Credit Applicationattached hereto as Exhibit A, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (i) the identity of the Issuing Bank and the proposed date of issuance Issuance of the Letter of Credit (which shall be a Business Day); (ii) the face amount and currency 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; (vii) whether the Letter of Credit is to be issued under the Borrowing Base Line or the Collateralized L/C Line; and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Avista Corp)

AutoNDA by SimpleDocs

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower received by the Issuing Lender (with a copy sent by the Borrower to the Administrative Agent) at least four three (43) Business Days (or such shorter time as the Issuing Lender may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimilefacsimile or other electronic means, confirmed promptly immediately in an original writing, in the form of a Letter of Credit Applicationan L/C Application (or such other form as shall be acceptable to the Issuing Lender), and shall specify in form and detail reasonably satisfactory to the Issuing Lender: (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 expiration 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 Lender may reasonably require.. Promptly after receipt of any L/C Application, the Issuing Lender shall confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such L/C Application and if not, such Issuing Lender will provide the Administrative Agent with a copy thereof. ​

Appears in 1 contract

Samples: Credit Agreement (Amcon Distributing Co)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender applicable Issuer (with a copy sent by the Borrower such Issuer to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender such Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent ; provided that five days’ prior notice (or such shorter time as such Issuer may agree in a particular instance in its sole discretion) shall be required in respect of such requesteach Letter of Credit to be denominated in an Alternative Currency. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writingwriting (if required by the applicable Issuer), in the form of a Letter an L/C Application (or such other form as shall be acceptable to such Issuer), or shall be by online letter of Credit Applicationcredit software acceptable to such Issuer, and shall specify in form and detail reasonably satisfactory to the Issuing Lendersuch Issuer: (i) the proposed date of issuance of the such Letter of Credit (which shall be a Business Day); (ii) the face amount of the such Letter of Credit; (iii) the expiry date of the such Letter of Credit; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by the beneficiary of the such 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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars or an Alternative Currency; and (viiviii) such other matters as the Issuing Lender such Issuer may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Borrowers' Representative received by the Issuing Lender Bank (with a copy sent by the Borrower Borrowers' Representative to the Administrative appropriate Agent) at least four three (43) Business Days with respect to U.S. Letters of Credit, and at least three (3) Business Days with respect to International Letters of Credit (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, immediately in the form of a Letter an L/C Application, or electronically using the Issuing Bank's automated personal computer based letter of Credit Applicationcredit initiation software, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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; (vii) whether the Letter of Credit is to be Issued in Dollars, Pounds or an Alternative Currency, and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Law Companies Group Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the applicable Borrower received by the Issuing Lender (with a copy sent by the Borrower to the Administrative Agent) Bank at least four (4) Business Days three days (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuanceIssuance Date, and approval by the Administrative Agent with a copy of such requestwritten request delivered to the Applicable Agent. The issuance of a Letter of Credit shall be made no later than noon (Toronto time) on the Issuance Date. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing Lender: 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 Lender Bank may reasonably require.

Appears in 1 contract

Samples: Credit Agreement (Zemex Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender Bank (with a copy sent by the Borrower Company to the Administrative Agent) at least four (4) two Business Days (or such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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; (vii) the currency (which shall be Dollars or an Offshore L/C Currency) in which the Letter of Credit is to be denominated; and (viiviii) such other matters as the Issuing Lender Bank may reasonably require.. The Agent will promptly notify the Banks of the receipt by it of any L/C Application. 50 Credit Agreement - Idex Corporation 58

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Idex Corp /De/)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company (acting on behalf of the applicable Borrower) received by the Issuing Lender (with a copy sent by the Borrower to LC Issuer and the Administrative Agent) Agent at least (A) in the case of an Offshore Currency denominated Letter of Credit, six Business Days or (B) in the case of a Dollar denominated Letter of Credit, four (4) Business Days (or or, in either case, such shorter time as the Issuing Lender LC Issuer and the Administrative Agent may agree in a particular instance in its their sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such requestIssuance Date. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, in the form of a Letter of Credit Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderLC Issuer: (i) the proposed date of issuance of the Letter of Credit (which shall be a Business Day); (ii) , the face amount and currency of the Letter of Credit; (iiiii) the expiry date of the such Letter of Credit; (iviii) the name and address of the beneficiary thereof; (viv) the documents to be presented by the beneficiary of the such Letter of Credit in case of any drawing thereunder; (viv) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; (vi) the applicable Borrower if a Borrower other than itself and (vii) such other matters as the Issuing LC Issuer may require. If a Letter of Credit is requested to be denominated in an Offshore Currency, the Administrative Agent shall promptly notify each Lender may reasonably requirethereof. Such Letter of Credit shall not be issued if the LC Issuer notifies the Administrative Agent that it has determined that it cannot pay under a Letter of Credit denominated in such Offshore Currency.

Appears in 1 contract

Samples: Pledge Agreement (Foster Wheeler Corp)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request submission by Borrower of a Notice of L/C Issuance/Amendment to the Borrower received by the Issuing Fronting Lender (with a copy sent by the Borrower to the Administrative Agent) at least four (4) three Business Days (or such shorter time as the Issuing Fronting Lender may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such requestIssuance. Each request by the Borrower for issuance such Notice of a Letter of Credit L/C Issuance/Amendment shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit Application, and shall specify in form and detail reasonably satisfactory to the Issuing Fronting Lender: (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; (vii) the name and address of the respective Account Party; and (viiviii) such other matters as the Issuing Fronting Lender may reasonably require.

Appears in 1 contract

Samples: Security Agreement (Evenflo Co Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Company received by the Issuing Lender Issuer (with a copy sent by the Borrower Company to the Administrative Agent) at least four (4) Business Days three days (or such shorter time as the Issuing Lender Issuer may agree in a particular instance in its sole discretion) prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit Applicationan L/C Application (or such other form as shall be acceptable to the Issuer), and shall specify in form and detail reasonably satisfactory to the Issuing LenderIssuer: (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; (vii) the currency in which such Letter of Credit is to be denominated, which shall be Dollars; and (viiviii) such other matters as the Issuing Lender Issuer may reasonably require.

Appears in 1 contract

Samples: Revolving Credit Agreement (Teletech Holdings Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of the Borrower Borrowers' Agent received by the Issuing Lender Bank (with a copy sent by the Borrower Borrowers' Agent to the Administrative Agent) at least four (4) Business Days (or in each case such shorter time as the Issuing Lender Bank may agree in a particular instance in its sole discretion) ), prior to the proposed date of issuance, and approval by the Administrative Agent of such request. Each such request by the Borrower for issuance of a Letter of Credit shall be by facsimile, confirmed promptly immediately in an original writing, in the form of a Letter of Credit an L/C Application, and shall specify in form and detail reasonably satisfactory to the Issuing LenderBank: (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 CreditCredit (and applicable Offshore Currency, if such Letter of Credit is not denominated in Dollars); (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; (vii) the identity of the Person whose obligations will be supported by such Letter of Credit (which, if other than the Borrower, must be a Subsidiary); and (viiviii) such other matters as the Issuing Lender Bank may reasonably require. The Equivalent Amount of any Letter of Credit to be denominated in an Offshore Currency as provided above will be determined by the Agent for such Letter of Credit on the Computation Date therefor in accordance with subsection 2.05(a).

Appears in 1 contract

Samples: Credit Agreement (Solectron Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.