Issuance of Facility Letters of Credit. (a) The Borrower shall give the Agent written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Facility Letter of Credit no later than 11:00 a.m. four (4) Business Days prior to the date such Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, shall be no later than the Business Day immediately preceding the Maturity Date), the identity of the Issuing Bank selected by the Borrower, and the purpose for which such Facility Letter of Credit is to be issued. At the time a request for the issuance of a Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy of the form of Letter of Credit that the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility Letter of Credit is less than or equal to the Unused L/C Subfacility, as determined by the Agent as of the close of business on the date of its receipt of written notice of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing (or by telephonic notice promptly confirmed thereafter in writing) not later than the close of business on the second Business Day following the Agent's receipt of the Borrower's written notice. The Issuing Bank shall issue such Facility Letter of Credit on the date requested by the Borrower, unless (i) on or before the Business Day prior to such issuance date, such Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance of a Facility Letter of Credit as set forth in Section 3.2 have not been met; or (ii) on the requested issuance date, such Issuing Bank has actual knowledge that such conditions precedent have not been met. If an Issuing Bank receives written notice, or has actual knowledge, that the conditions precedent to the issuance of a Facility Letter of Credit have not been met, then such Issuing Bank shall have no obligation to issue, and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such Issuing Bank receives a notice from the Agent that the condition(s) described in such notice have been waived in accordance with the provisions of this Agreement. The Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter of Credit. Any Letter of Credit issued by an Issuing Bank in compliance with the provisions of this Section 3.3 shall be a Facility Letter of Credit. (b) An Issuing Bank shall not extend or amend any Facility Letter of Credit unless the requirements of this Section 3.3 are met as though a new Facility Letter of Credit was being requested and issued. (c) An Issuing Bank or any Bank may issue Non-Facility Letters of Credit for its own account, and at its own risk. None of the provisions of this Section 3 shall apply to any Non-Facility Letter of Credit.
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Issuance of Facility Letters of Credit. (a) The Borrower shall give the Agent written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Facility Letter of Credit no later than 11:00 a.m. (Houston time) four (4) Business Days prior to the date such Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, shall be no later than the Business Day immediately preceding the Maturity Date), the identity of the Issuing Bank selected by the Borrower, and the purpose for which such Facility Letter of Credit is to be issued. At the time a request for the issuance of a Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy of the form of Letter of Credit that the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility Letter of Credit is less than or equal to the Unused L/C Subfacility, as determined by the Agent as of the close of business on the date of its receipt of written notice of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing (or by telephonic notice promptly confirmed thereafter in writing) not later than the close of business on the second Business Day following the Agent's ’s receipt of the Borrower's ’s written notice. The Issuing Bank shall issue such Facility Letter of Credit on the date requested by the Borrower, unless (i) on or before the Business Day prior to such issuance date, such the Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance of a Facility Letter of Credit as set forth in Section 3.2 3.02 have not been met; or (ii) on the requested issuance date, such the Issuing Bank has actual knowledge that such conditions precedent have not been met. If an the Issuing Bank receives written notice, or has actual knowledge, that the conditions precedent to the issuance of a Facility Letter of Credit have not been met, then such the Issuing Bank shall have no obligation to issue, and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such the Issuing Bank receives a notice from the Agent that the condition(s) described in such notice have been waived in accordance with the provisions of this Agreement. The Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter of Credit. Any Letter of Credit issued by an the Issuing Bank in compliance with the provisions of this Section 3.3 3.03 shall be a Facility Letter of Credit.
(b) An The Issuing Bank shall not extend or amend any Facility Letter of Credit unless the requirements of this Section 3.3 3.03 are met as though a new Facility Letter of Credit was being requested and issued.
(c) An The Issuing Bank or any Bank may issue Non-Facility Letters of Credit for its own account, and at its own risk. None of the provisions of this Section 3 Article III shall apply to any Non-Facility Letter of Credit.
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Issuance of Facility Letters of Credit. (a) The Borrower shall give the Agent written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Each Facility Letter of Credit no shall be issued on written notice given by the Borrower to an Issuing Bank Agent and the Agent not later than 11:00 a.m. four A.M. (4New York City time) five Business Days prior to the date proposed for such issuance. Such notice (a "Letter of Credit Issuance Request") shall be in substantially the form of Exhibit C-1 hereto (or in such other form as may be mutually agreed as among the Borrower, such Issuing Bank Agent and the Agent) and shall be irrevocable once given. Each Letter of Credit Issuance Request shall be by telecopy, telex, telegraph or cable, confirmed immediately in writing by mail, and shall specify therein (i) the stated amount of the proposed Facility Letter of Credit, (ii) the effective date (which shall be a Business Day) of issuance thereof, (iii) the date on which such proposed Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date expire (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, and shall in no event be no later than the earlier to occur of the date occurring one year after the effective date of such Facility Letter of Credit or the Business Day immediately preceding the Maturity L/C Facility Termination Date), the identity of the Issuing Bank selected by the Borrower, and (iv) the purpose for which such proposed Facility Letter of Credit is to be issued and (v) the Person for whose benefit such proposed Facility Letter of Credit is to be issued. At the time a request for the issuance of a Each Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy be denominated in Dollars. Each Letter of Credit Issuance Request shall be accompanied by the form of the letter of credit then being requested to be issued, which form shall not contain any terms or provisions inconsistent with the terms and provisions of this Agreement. Such Issuing Bank Agent shall forthwith advise its related Issuing Bank of its receipt, and the contents of, each Letter of Credit that Issuance Request.
(b) Based upon the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility information contained in a Letter of Credit is less than or equal to the Unused L/C SubfacilityIssuance Request, as determined and based upon information provided by the Issuing Banks and the Issuing Bank Agents and the books and records of the Agent, the Agent shall determine, as of the close of business on the date day it receives such Letter of its receipt of written notice Credit Issuance Request, the amount of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing Unused L/C Facility (or by telephonic notice promptly confirmed thereafter in writing) not later than without giving effect to such Letter of Credit Issuance Request). Prior to the close of business on the second Business Day following the Agent's receipt of such Letter of Credit Issuance Request, the Borrower's written notice. The Agent shall notify the applicable Issuing Bank shall issue such Agent, either in writing or by telephone notice confirmed promptly thereafter in writing, whether the face amount of the requested Facility Letter of Credit exceeds the Unused L/C Facility (without giving effect to such Letter of Credit Issuance Request).
(c) Promptly following receipt by the applicable Issuing Bank Agent of notice from the Agent pursuant to Section 3.02(b), the related Issuing Bank shall, subject to the terms and conditions of this Agreement, issue the requested Facility Letter of Credit in accordance with such Issuing Bank's usual and customary business practices on the date requested for such issuance by the Borrower, unless (i) on or before Borrower in the Business Day prior to such issuance date, such Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance applicable Letter of a Credit Issuance Request. The proposed Facility Letter of Credit as set forth shall, in Section 3.2 have not been met; or (ii) on the requested issuance dateeach case, be in form and content acceptable to such Issuing Bank has actual knowledge that such conditions precedent have not been met. If an Issuing Bank receives written noticeBank, or has actual knowledge, that the conditions precedent due regard being given to the issuance of a Facility Letter of Credit have not been met, then such Issuing Bank shall have no obligation to issue, terms and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such Issuing Bank receives a notice from the Agent that the condition(s) described in such notice have been waived in accordance with the provisions of this Agreement. The , the customs and conventions followed by such Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter letters of Credit. Any Letter credit generally and the advice of Credit issued by an the Banks from time to time given to such Issuing Bank as to necessary or desirable terms and provisions in compliance with the provisions form of this Section 3.3 shall be a any such Facility Letter of Credit.
(bd) An Issuing Bank shall not extend or amend any For purposes of calculating the Facility Letter of Credit unless Obligations at any time, it shall be assumed that a Facility Letter of Credit requested by the requirements Borrower in accordance with the foregoing provisions of this Section 3.3 are met as though a new 3.02 has been issued unless and until the Agent shall have received notice from the applicable Issuing Bank or its Issuing Bank Agent that such Facility Letter of Credit was being requested and not in fact issued.
(c) An . Such Issuing Bank shall (or any shall cause its Issuing Bank may issue Non-Facility Letters Agent to) give the Agent written notice, or telephonic notice confirmed promptly thereafter in writing, upon the issuance by it of Credit for its own account, and at its own risk. None of the provisions of this Section 3 shall apply to any Non-a Facility Letter of CreditCredit hereunder, and the Agent shall promptly thereafter give notice of such issuance to the Banks. A Facility Letter of Credit otherwise issued in accordance with the terms of this Agreement shall be a Facility Letter of Credit notwithstanding any failure by the applicable Issuing Bank, its Issuing Bank Agent or the Agent to provide any such notice in a timely manner.
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Issuance of Facility Letters of Credit. (a) The Except with respect to the issuance of the Letters of Credit described on Schedule attached hereto on the Closing Date, the Borrower shall give the Agent Bank written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Facility Letter of Credit no later than 11:00 a.m. four (4) Business Days prior to the date such Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, shall be no later than the Business Day immediately preceding the Maturity Revolving Termination Date), the identity of the Issuing Bank selected by the Borrower, and the purpose for which such Facility Letter of Credit is to be issued. At the time a request for the issuance of a Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy of the form of Letter of Credit that the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility Letter of Credit is less than or equal to the Unused L/C SubfacilityFacility, as determined by the Agent Bank as of the close of business on the date of its receipt of written notice of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing (or by telephonic notice promptly confirmed thereafter in writing) not later than the close of business on the second Business Day following the Agent's receipt of the Borrower's written notice. The Issuing Bank shall issue such Facility Letter of Credit on the date requested by the Borrower, unless (i) on or before the Business Day prior to such issuance date, such Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance of a Facility Letter of Credit as set forth in Section 3.2 have not been met; or (ii) on the requested issuance date, such Issuing the Bank has actual knowledge that such conditions precedent have not been met. If an Issuing the Bank receives written notice, or has actual knowledge, that the conditions precedent to the issuance of a Facility Letter of Credit have not been met, then such Issuing the Bank shall have no obligation to issue, and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such Issuing the Bank receives a notice from information to the Agent effect that the condition(s) described in such notice precedent have been waived in accordance with the provisions of this Agreement. The Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter of Creditmet. Any Letter of Credit issued by an Issuing the Bank in compliance with the provisions of this Section 3.3 shall be a Facility Letter of Credit, and the Standby Letters of Credit described on Schedule shall be Facility Letters of Credit.
(b) An Issuing The Bank shall not extend or amend any Facility Letter of Credit unless the requirements of this Section 3.3 are met as though a new Facility Letter of Credit was being requested and issued.
(c) An Issuing Bank or Upon the expiration of any Facility Letter of Credit, the Borrower may re-use any portion of the Letter of Credit Commitment for the issuance of new Facility Letters of Credit prior to the L/C Termination Date.
(d) The Bank may (but has no obligation hereunder to) issue Non-Facility Letters of Credit for its own account, and at its own riskCredit. None of the provisions of this Section 3 shall apply to any Letter of Credit designated by the Bank as a Non-Facility Letter of Credit.
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Samples: Credit Agreement (Fm Properties Inc)
Issuance of Facility Letters of Credit. (a) The Borrower shall give the Agent written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Facility Letter of Credit no later than 11:00 a.m. (Houston time) four (4) Business Days prior to the date such Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, shall be no later than the five (5) Business Day immediately preceding Days prior to the Maturity Date), the identity of the Issuing Bank selected by the Borrower, and the purpose for which such Facility Letter of Credit is to be issued. At the time a request for the issuance of a Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy of the form of Letter of Credit that the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility Letter of Credit is less than or equal to the Unused L/C Subfacility, as determined by the Agent as of the close of business on the date of its receipt of written notice of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing (or by telephonic notice promptly confirmed thereafter in writing) not later than the close of business on the second Business Day following the Agent's ’s receipt of the Borrower's ’s written notice. The Issuing Bank shall issue such Facility Letter of Credit on the date requested by the Borrower, unless (i) on or before the Business Day prior to such issuance date, such the Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance of a Facility Letter of Credit as set forth in Section 3.2 3.02 have not been met; or (ii) on the requested issuance date, such the Issuing Bank has actual knowledge that such conditions precedent have not been met. If an the Issuing Bank receives written notice, or has actual knowledge, that the conditions precedent to the issuance of a Facility Letter of Credit have not been met, then such the Issuing Bank shall have no obligation to issue, and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such the Issuing Bank receives a notice from the Agent that the condition(s) described in such notice have been waived in accordance with the provisions of this Agreement. The Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter of Credit. Any Letter of Credit issued by an the Issuing Bank in compliance with the provisions of this Section 3.3 3.03 shall be a Facility Letter of Credit.
(b) An The Issuing Bank shall not extend or amend any Facility Letter of Credit unless the requirements of this Section 3.3 3.03 are met as though a new Facility Letter of Credit was being requested and issued.
(c) An The Issuing Bank or any Bank may issue Non-Facility Letters of Credit for its own account, and at its own risk. None of the provisions of this Section 3 Article III shall apply to any Non-Facility Letter of Credit.
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Issuance of Facility Letters of Credit. (a) The Borrower shall give the Agent written notice (or telephonic notice confirmed in writing by the Borrower not later than the requested issuance date of the Facility Letter of Credit) of its request for the issuance of a Facility Letter of Credit no later than 11:00 a.m. four (4) Business Days prior to the date such Facility Letter of Credit is requested to be issued. Such notice shall be irrevocable and shall specify, with respect to such requested Facility Letter of Credit, the face amount, beneficiary, effective date of issuance, expiry date (which effective date and expiry date shall be a Business Day and, with respect to the expiry date, shall be no later than the Business Day immediately preceding the Maturity Date), the identity of the Issuing Bank selected by the Borrower, and the purpose for which such Facility Letter of Credit is to be issued. At the time a request for the issuance of a Facility Letter of Credit is made, the Borrower shall also provide the Agent with a copy of the form of Letter of Credit that the proposed Issuing Bank has agreed to issue. If the face amount of the requested Facility Letter of Credit is less than or equal to the Unused L/C Subfacility, as determined by the Agent as of the close of business on the date of its receipt of written notice of the requested issuance, the Agent shall so notify the proposed Issuing Bank in writing (or by telephonic notice promptly confirmed thereafter in writing) not later than the close of business on the second Business Day following the Agent's ’s receipt of the Borrower's ’s written notice. The Issuing Bank Bank shall issue such Facility Letter of Credit on the date requested by the Borrower, unless (i) on or before the Business Day prior to such issuance date, such Issuing Bank shall have received written notice from the Agent or any Bank that the conditions precedent to the issuance of a Facility Letter of Credit as set forth in Section 3.2 have not been met; or (ii) on the requested issuance date, such Issuing Bank has actual knowledge that such conditions precedent have not been met. If an Issuing Bank receives written notice, or has actual knowledge, that the conditions precedent to the issuance of a Facility Letter of Credit have not been met, then such Issuing Bank shall have no obligation to issue, and shall not issue, any Facility Letter of Credit until (i) such notice is withdrawn; or (ii) such Issuing Bank receives a notice from the Agent that the condition(s) described in such notice have been waived in accordance with the provisions of this Agreement. The Issuing Bank shall give the Agent prompt written notice (or telephonic notice promptly confirmed in writing) of the issuance of any Facility Letter of Credit. Any Letter of Credit issued by an Issuing Bank in compliance with the provisions of this Section 3.3 shall be a Facility Letter of Credit.
(b) An Issuing Bank shall not extend or amend any Facility Letter of Credit unless the requirements of this Section 3.3 are met as though a new Facility Letter of Credit was being requested and issued.
(c) An Issuing Bank or any Bank may issue Non-Facility Letters of Credit for its own account, and at its own risk. None of the provisions of this Section 3 shall apply to any Non-Facility Letter of Credit.
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