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 a Borrower received by the applicable Issuing Lender (with a copy sent by such Borrower to the Administrative Agent) at least one Business Day (or such shorter time as the applicable Issuing Lender and the Administrative Agent may agree in a particular instance in their 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 (by messenger or overnight courier) in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the applicable Issuing Lender: (i) the face amount of the Letter of Credit; (ii) the expiry date of the Letter of Credit; (iii) the name and address of the beneficiary thereof; (iv) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (v) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; (vi) the Borrower requesting the Issuance of such Letter of Credit; and (vii) such other matters as such Issuing Lender may require.

Appears in 1 contract

Samples: Credit Agreement (Hussmann International Inc)

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Issuance, Amendment and Renewal of Letters of Credit. (a1) Each Letter of Credit shall be issued upon the irrevocable written request of a Borrower the Company received by the applicable Issuing Lender Bank (with a copy sent by such Borrower the Company to the Administrative Agent) at least one Business Day (or such shorter time as the applicable Issuing Lender Bank and the Administrative Agent may agree in a particular instance in their 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 (by messenger or overnight courier) in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the applicable Issuing LenderBank: (i) the face amount of the Letter of Credit; (ii) the expiry date of the Letter of Credit; (iii) the name and address of the beneficiary thereof; (iv) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (v) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vi) the Borrower requesting the Issuance of such Letter of Credit; and (vii) such other matters as such Issuing Lender Bank may require.

Appears in 1 contract

Samples: Credit Agreement (Dreyers Grand Ice Cream Inc)

Issuance, Amendment and Renewal of Letters of Credit. (a) Each Letter of Credit shall be issued upon the irrevocable written request of a Borrower the Company received by the applicable Issuing Lender (with a copy sent by such Borrower the Company to the Administrative Agent) at least one Business Day (or such shorter time as the applicable Issuing Lender and the Administrative Agent may agree in a particular instance in their 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 (by messenger or overnight courier) in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the applicable Issuing Lender: (i) the face amount of the Letter of Credit; (ii) the expiry date of the Letter of Credit; (iii) the name and address of the beneficiary thereof; (iv) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (v) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (vi) the Borrower requesting the Issuance of such Letter of Credit; and (vii) such other matters as such Issuing Lender may require.

Appears in 1 contract

Samples: Credit Agreement (Lance 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 a Borrower the Company received by the applicable Issuing Lender (with a copy sent by such Borrower the Company to the Administrative Agent) at least one Business Day (or such shorter time as the applicable Issuing Lender and the Administrative Agent may agree in a particular instance in their 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 (by messenger or overnight courier) in an original writing, in the form of an L/C Application, and shall specify in form and detail satisfactory to the applicable Issuing Lender: (i) the face amount of the Letter of Credit; (ii) the expiry date of the Letter of Credit; (iii) the name and address of the beneficiary thereof; (iv) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (v) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; (vi) the Borrower requesting the Issuance of such Letter of Credit; and (vii) such other matters as such Issuing Lender may require.of

Appears in 1 contract

Samples: Credit Agreement (Lance Inc)

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