Issuance of Letters of Credit. (i) The Borrower shall give the Lender written notice that it requires the issuance of a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement. Such notice shall be irrevocable unless and until such request is denied by the Lender and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date), (E) that such Letter of Credit is to be issued for the benefit of the Borrower, (F) other relevant terms of such Letter of Credit, (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations. (ii) The Lender shall give the Borrower written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of Credit.
Appears in 3 contracts
Samples: Credit Agreement (Reckson Services Industries Inc), Credit Agreement (Reckson Associates Realty Corp), Credit Agreement (Reckson Associates Realty Corp)
Issuance of Letters of Credit. (i) The applicable Borrower shall ----------------------------- give an Issuing Bank and the Lender Administrative Agent written notice that it requires the issuance of has selected such Issuing Bank to Issue a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance Issuance thereof under this Agreementhereunder, or such shorter notice as may be acceptable to such Issuing Bank and the Administrative Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) other relevant terms of such Letter of Credit, Credit and (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations. Such Issuing Bank shall notify the Administrative Agent immediately upon receipt of a written notice from a Borrower requesting that a Letter of Credit be Issued and, upon the Administrative Agent's request therefor, send a copy of such notice to the Administrative Agent.
(ii) The Lender applicable Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, telecopy, telephone or similar transmission to each Lender).
Appears in 2 contracts
Samples: Credit Agreement (International Technology Corp), Credit Agreement (International Technology Corp)
Issuance of Letters of Credit. (i) The Borrower shall give the Lender Administrative Agent written notice that it requires the issuance of a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement. Such notice shall be irrevocable unless and until such request is denied by the Lender Issuing Bank and such request shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the ten (10) Business Day immediately Days preceding the scheduled Commitment Revolving Credit Termination Date), (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (F) other relevant terms of such Letter of Credit, (G) the Available Commitment Revolving Credit Availability at such time time, and (H) the amount of the then outstanding Letter of Credit Obligations. Such request shall be accompanied by an Officer's Certificate of the Borrower with respect to compliance with (and calculation of) Sections 10.11(a) and (e).
(ii) The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, facsimile transmission, or similar transmission to the Borrower and each Lender).
Appears in 1 contract
Samples: Revolving Credit Agreement (Reckson Associates Realty Corp)
Issuance of Letters of Credit. (i) The Borrower shall give the Lender ----------------------------- Issuing Bank and the Administrative Agent written notice that it requires is requesting that the issuance of Issuing Bank Issue a Letter of Credit not later than 11:00 a.m. 3:00 p.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this AgreementIssuance thereof, or such shorter notice as may be reasonably acceptable to such Issuing Bank and the Administrative Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank pursuant to the terms hereof and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (CB) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (DC) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (ED) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, and (FE) other relevant terms of such Letter of Credit, (G) . Such Issuing Bank shall notify the Available Commitment at such time and (H) Administrative Agent immediately upon receipt of a written notice from the amount of the then outstanding Borrower requesting that a Letter of Credit Obligations.
(ii) be Issued and, upon the Administrative Agent's request therefor, send a copy of such notice to the Administrative Agent. The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, facsimile, telephone or similar transmission to each Lender).
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Issuance of Letters of Credit. (i) The Borrower shall give the Lender Payment and Disbursement Agent written notice that it requires the issuance of a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Arranger and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) that such Letter of Credit is solely for the account of the Borrower, (C) the stated amount of the Letter of Credit requested, (CD) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (DE) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Revolving Credit Termination Date), (EF) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (FG) other relevant terms of such Letter of Credit, (GH) the Available Commitment Revolving Credit Availability at such time time, and (HI) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender shall give the Borrower written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of Credit.
Appears in 1 contract
Issuance of Letters of Credit. (i) The applicable Borrower shall give an Issuing Bank and the Lender Administrative Agent written notice that it requires the issuance of has selected such Issuing Bank to Issue a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance Issuance thereof under this Agreementhereunder, or such shorter notice as may be acceptable to such Issuing Bank and the Administrative Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) other relevant terms of such Letter of Credit, Credit and (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations. Such Issuing Bank shall notify the Administrative Agent immediately upon receipt of a written notice from a Borrower requesting that a Letter of Credit be Issued and, upon the Administrative Agent’s request therefor, send a copy of such notice to the Administrative Agent.
(ii) The Lender applicable Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, telecopy, telephone or similar transmission to each Lender).
Appears in 1 contract
Samples: Credit Agreement (It Group Inc)
Issuance of Letters of Credit. (i) The Borrower Company shall give an Issuing Bank and the Lender Administrative Agent written notice that it requires the issuance of has selected such Issuing Bank to Issue a Letter of Credit (A) not later than 11:00 10:00 a.m. (New York Chicago time) on the third requested date (3rdwhich shall be a Business Day) for Issuance of any Letter of Credit denominated in Dollars and (B) not later than 2:00 p.m. (London time) on the fourth Business Day preceding the requested date (which shall be a Business Day) for issuance thereof under this AgreementIssuance of any Letter of Credit denominated in an Alternative Currency. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount and currency of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) the Borrower for whose account the requested Letter of Credit is to be Issued, (G) other relevant terms of such Letter of Credit, (G) the Available Commitment at such time Credit and (H) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender . Such Issuing Bank shall give notify the Borrower Administrative Agent immediately upon receipt of a written notice, or telephonic notice confirmed promptly thereafter in writing, of from the issuance, amendment or extension of Company requesting that a Letter of CreditCredit be Issued and, upon the Administrative Agent's request therefor, send a copy of such notice to the Administrative Agent.
Appears in 1 contract
Samples: Credit Agreement (Insilco Corp/De/)
Issuance of Letters of Credit. (i) The Borrower shall give the Lender Administrative Agent written notice that it requires the issuance of a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement. Such notice shall be irrevocable unless and until such request is denied by the Lender Issuing Bank and such request shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the ten (10) Business Day immediately Days preceding the scheduled Commitment Revolving Credit Termination Date), (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (F) other relevant terms of such Letter of Credit, (G) the Available Commitment Revolving Credit Availability at such time time, and (H) the amount of the then outstanding Letter of Credit Obligations. Such request shall be accompanied by an Officer's Certificate of the Borrower with respect to compliance with (and calculation of) Sections 10.11(a) and (e).
(iii) The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, facsimile transmission, or similar transmission to the Borrower and each Lender).
Appears in 1 contract
Samples: Credit Agreement (Reckson Operating Partnership Lp)
Issuance of Letters of Credit. (i) The Borrower shall give request the issuance of Letters of Credit by giving the Lender written notice that it requires the issuance of a Letter of Credit thereof not later than 11:00 a.m. 1:00 p.m. (New York Chicago time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement, or such shorter notice as may be acceptable to the Lender. Such notice shall be irrevocable unless and until such request is denied by the Lender and shall specify (Ai) that the requested type of Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Creditbeing requested, (Bii) the stated amount of the Letter of Credit requested, (Ciii) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (Div) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Revolving Credit Termination Date), (Ev) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (Fvi) other relevant terms of such Letter of Credit, and (Gvii) the Available Commitment at such time Revolving Credit Obligations and (H) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender shall give the Borrower written notice, or telephonic notice confirmed promptly thereafter in writing, Obligations outstanding as of the issuance, amendment or extension date of a (and after giving effect to) the proposed issuance of such Letter of Credit.
Appears in 1 contract
Issuance of Letters of Credit. (i) The Borrower Borrowers shall give the Lender Issuing Bank written notice that it requires is requesting that the issuance of Issuing Bank Issue a Letter of Credit not later than 11:00 a.m. 2:00 p.m. (New York time) on the third (3rd) Business Day immediately preceding the requested date for issuance thereof under this AgreementIssuance thereof, or such shorter notice as may be acceptable to the Issuing Bank. Such notice shall be irrevocable unless and until such request is denied by the Lender Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit, Usance Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) other relevant terms of such Letter of Credit, Credit and (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations. The Issuing Bank shall notify the Administrative Agent immediately upon receipt of a written notice from the Borrowers requesting that a Letter of Credit be Issued and, upon the Administrative Agent's request therefor, send a copy of such notice to the Administrative Agent.
(ii) The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, telecopy, telephone or similar transmission to each Lender).
Appears in 1 contract
Issuance of Letters of Credit. (i) The Borrower Company shall give an Issuing Bank and the Lender Administrative Agent written notice that it requires the issuance of has selected such Issuing Bank to Issue a Letter of Credit (A) not later than 11:00 a.m. (New York time) on the third requested date (3rdwhich shall be a Business Day) for Issuance of any Letter of Credit denominated in Dollars and (B) not later than 2:00 p.m. (London time) on the fourth Business Day preceding the requested date (which shall be a Business Day) for issuance thereof under this AgreementIssuance of any Letter of Credit denominated in an Alternative Currency. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount and currency of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) the Borrower for whose account the requested Letter of Credit is to be Issued, (G) other relevant terms of such Letter of Credit, (G) the Available Commitment at such time Credit and (H) the amount of the then outstanding Letter of Credit Obligations.. Such Issuing Bank shall notify the Administrative Agent immediately upon receipt of a written notice
(ii) The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, telecopy, telephone or similar transmission to each Lender).
Appears in 1 contract
Samples: Credit Agreement (Insilco Corp/De/)
Issuance of Letters of Credit. (i) The Borrower Borrowers' Agent shall give the Lender Agent written notice that it requires the issuance of to issue or cause to be issued a Letter of Credit not later than 11:00 10:00 a.m. (New York time) on the third fifth (3rd5th) Business Day preceding the requested date for issuance thereof under this Agreement, or such shorter notice as may be acceptable to an Issuing Bank and the Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender Agent and shall include a Notice of Borrowing which complies with the requirements of Section 2.3(a) (modified as appropriate) and specify (A) that the requested such Letter of Credit is either solely for the account of and the name of a Commercial Letter of Credit or a Standby Letter of Creditspecific Borrower, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment then existing Revolving Credit Termination Date), (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (F) all other relevant terms of such Letter of Credit, (G) the Available Commitment Revolving Credit Availability at such time time, and (H) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender Each Issuing Bank shall give the Borrower Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of CreditCredit (which notice the Agent shall promptly transmit by telegram, facsimile transmission, or similar transmission to each Lender).
Appears in 1 contract
Samples: Revolving Credit Agreement (Lexington Corporate Properties Inc)
Issuance of Letters of Credit. (i) The Borrower shall give the Lender Issuing Bank and the Administrative Agent written notice that it requires is requesting that the issuance of Issuing Bank Issue a Letter of Credit not later than 11:00 a.m. 12:00 p.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this AgreementIssuance thereof, or such shorter notice as may be acceptable to such Issuing Bank and the Administrative Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, (F) other relevant terms of such Letter of Credit, Credit and (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations. Such Issuing Bank shall notify the Administrative Agent immediately upon receipt of a written notice from the Borrower requesting that a Letter of Credit be Issued and, upon the Administrative Agent's request therefor, send a copy of such notice to the Administrative Agent.
(ii) The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by telegram, telex, telecopy, telephone or similar transmission to each Lender).
Appears in 1 contract
Issuance of Letters of Credit. (i) The Borrower Borrowers' Representative shall give the Lender Agent written notice that it requires the issuance of to issue or cause to be issued a Letter of Credit not later than 11:00 10:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement, or such shorter notice as may be acceptable to an Issuing Bank and the Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender Agent and shall include a Notice of Borrowing which complies with the requirements of Section 2.4(a) (modified as appropriate) and specify (A) that the requested such Letter of Credit is either solely for the account of and the name of a Commercial Letter of Credit or a Standby Letter of Creditspecific Borrower, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the earlier of the Business Day immediately preceding the scheduled Commitment then existing Revolving Credit Termination DateDate or one (1) year from the date of issuance), (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (F) all other relevant terms of such Letter of Credit, and (G) the Available Commitment at such time and (H) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender Each Issuing Bank shall give the Borrower Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of CreditCredit (which notice the Agent shall promptly transmit by telegram, facsimile transmission, or similar transmission to each Lender).
Appears in 1 contract
Samples: Senior Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust)
Issuance of Letters of Credit. (i) The Borrower shall give the Lender Payment and Disbursement Agent written notice that it requires the issuance of a Letter of Credit not later than 11:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Arranger and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) that such Letter of Credit is solely for the account of the Borrower, (C) the stated amount of the Letter of Credit requested, (CD) the effective date (which shall be a Business Busi ness Day) of issuance of such Letter of Credit, (DE) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Revolving Credit Termination Date), (EF) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (FG) other relevant terms of such Letter of Credit, (GH) the Available Commitment Revolving Credit Availability at such time time, and (HI) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender shall give the Borrower written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of Credit.
Appears in 1 contract
Issuance of Letters of Credit. (i) The Borrower shall give the Lender Issuing Bank and the Administrative Agent written notice that it requires is requesting that the issuance of Issuing Bank Issue a Letter of Credit not later than 11:00 a.m. 3:00 p.m. (New York Charlotte time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this AgreementIssuance thereof, or such shorter notice as may be reasonably acceptable to such Issuing Bank and the Administrative Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender applicable Issuing Bank pursuant to the terms hereof and shall specify (A) that the requested Letter of Credit is either a Commercial Letter of Credit or a Standby Letter of Credit, (B) the stated amount of the Letter of Credit requested, (CB) the effective date (which shall be a Business Day) of issuance Issuance of such Letter of Credit, (DC) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment Termination Date)expire, (ED) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the BorrowerIssued, and (FE) other relevant terms of such Letter of Credit, (G) . Such Issuing Bank shall notify the Available Commitment at such time and (H) Administrative Agent immediately upon receipt of a written notice from the amount of the then outstanding Borrower requesting that a Letter of Credit Obligations.
(ii) be Issued and, upon the Administrative Agent’s request therefor, send a copy of such notice to the Administrative Agent. The Lender Issuing Bank shall give the Borrower Administrative Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension Issuance of a Letter of CreditCredit (which notice the Administrative Agent shall promptly transmit by facsimile or similar transmission to each Lender).
Appears in 1 contract
Issuance of Letters of Credit. (i) The Borrower Borrowers' Representative shall give the Lender Agent written notice that it requires the issuance of to issue or cause to be issued a Letter of Credit not later than 11:00 10:00 a.m. (New York time) on the third (3rd) Business Day preceding the requested date for issuance thereof under this Agreement, or such shorter notice as may be acceptable to an Issuing Bank and the Agent. Such notice shall be irrevocable unless and until such request is denied by the Lender Agent and shall include a Notice of Borrowing which complies with the requirements of Section 2.5(a) (modified as appropriate) and specify (A) that the requested such Letter of Credit is either solely for the account of and the name of a Commercial Letter of Credit or a Standby Letter of Creditspecific Borrower, (B) the stated amount of the Letter of Credit requested, (C) the effective date (which shall be a Business Day) of issuance of such Letter of Credit, (D) the date on which such Letter of Credit is to expire (which shall be a Business Day and no later than the Business Day immediately preceding the scheduled Commitment then existing Revolving Credit Termination Date), (E) that the Person for whose benefit such Letter of Credit is to be issued for the benefit of the Borrowerissued, (F) all other relevant terms of such Letter of Credit, (G) the Available Commitment Current Availability at such time time, and (H) the amount of the then outstanding Letter of Credit Obligations.
(ii) The Lender Each Issuing Bank shall give the Borrower Agent written notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance, amendment or extension of a Letter of CreditCredit (which notice the Agent shall promptly transmit by telegram, facsimile transmission, or similar transmission to each Lender).
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust)