Issuance of the Letters of Credit. Subject to the terms and conditions set forth in this Agreement, the LC Bank shall, during the Working Capital/LC Availability Period, on each Banking Day specified in a Notice of LC Activity delivered in accordance with Section 2.2.3, issue, extend the Expiration Date of or increase the Stated Amount of, for the account of Borrower, the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the Expiration Date or increase in the Stated Amount thereof) to the applicable LC Beneficiary. Subject to Section 2.2.7(b), the LC Bank shall not modify the conditions for draws or terms of availability for any Letter of Credit issued and outstanding hereunder without Borrower's consent.
Issuance of the Letters of Credit. Subject to the terms and conditions set forth in this Agreement (including the conditions precedent set forth in Section 3.3), the LC Bank shall, during the Loan Availability Period, on each Business Day specified in a Notice of LC Activity described in Section 2.2.3, issue, extend or increase the Stated Amount (as applicable), for the account of the Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and shall deliver each such Letter of Credit (or a notice of extension or increase in the Stated Amount thereof) to the Borrower for ultimate delivery to the applicable LC Beneficiary, or directly to the applicable LC Beneficiary, as requested by the Borrower. Subject to Section 2.2.6(b), the LC Bank shall not modify the conditions for draws or terms of availability for any Letter of Credit issued and outstanding hereunder without the Borrower's prior written consent.
Issuance of the Letters of Credit. Subject to the terms and conditions set forth in this Agreement, LC Bank shall, during the Loan Availability Period, on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue, extend or increase the Stated Amount (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension or increase in the Stated Amount thereof) to the applicable LC Beneficiary. Subject to Section 2.2.6(b), LC Bank shall not modify the conditions for draws or terms of availability for any Letter of Credit issued and outstanding hereunder without Borrower's consent.
Issuance of the Letters of Credit. Each Letter of Credit shall be issued upon notice, given not later than 12:00 p.m. (Memphis, Tennessee time) on the fifth Business Day prior to the date of the proposed issuance of such Letter of Credit, by a Borrower to the Bank. Each such notice of issuance of a Letter of Credit ("Notice of Issuance") shall be by telephone, confirmed immediately in writing, or telecopier or electronic communication, specifying therein the requested (A) date of such issuance (which shall be a Business Day), (B) amount of such Letter of Credit (which shall not be less than $1,000.00), (C) expiration date of such Letter of Credit, (D) name and address of the beneficiary of such Letter of Credit, and (E) form of such Letter of Credit, and shall be accompanied by such application and agreement for Letter of Credit as the Bank may specify to Borrower for use in connection with such Letter of Credit ("Letter of Credit Agreement"). If (a) the requested form of such Letter of Credit is acceptable to the Bank in its sole discretion, Bank will, upon fulfillment of the applicable conditions referred to herein, make such Letter of Credit available to the Borrower at its office referred to in the first paragraph hereof or as otherwise agreed with Borrower in connection with such issuance. In the event and to the extent that the provisions of any Letter of Credit Agreement shall conflict with this Loan Agreement, the provisions of this Loan Agreement shall govern.
Issuance of the Letters of Credit. (a) The Borrowers hereby request and instruct the Bank to issue the Letters of Credit substantially in the respective forms of Exhibits D and I hereto and the Letters of Credit are subject to the terms and conditions of this Agreement.
(b) The Letters of Credit shall be issued on the date of delivery of the 2002 Bonds to the original purchaser thereof from the Board.
Issuance of the Letters of Credit. (a) Subject to the terms and conditions set forth herein, the Account Party may request the issuance of Letters of Credit for its own account, in a form reasonably acceptable to the Bank (it being agreed that a Letter of Credit substantially in the form attached hereto as Exhibit A is in an acceptable form), at any time and from time to time during the Availability Period, and, subject to the terms and conditions set forth herein, the Bank shall issue such Letters of Credit.
(b) To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Account Party shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Bank) to the Bank, at least three Business Days (as defined below) in advance of the requested date of issuance, amendment, renewal or extension, a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying (i) the date of issuance, amendment, renewal or extension (which shall be a Business Day), (ii) the date on which such Letter of Credit is to expire (which shall not be later than the close of business on the Termination Date), (iii) the amount of such Letter of Credit, (iv) the name and address of the beneficiary thereof and (v) such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. Such notice also shall specify whether such Letter of Credit will be a Guaranteed Letter of Credit or a Collateralized Letter of Credit (as such terms are defined below). The Account Party also shall submit a letter of credit application on the Bank's standard form in connection with any request for the issuance or amendment of a Letter of Credit, provided that, in the event of any inconsistency between the terms and conditions of this
Issuance of the Letters of Credit. Subject to the terms and conditions set forth in this Agreement and the Application, LC Issuing Bank shall, during the LC Availability Period, on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue Letters of Credit, extend the expiry date of any Letter of Credit or increase the Stated Amount of any Letter of Credit (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the expiry date thereof or increase in the Stated Amount thereof) to the applicable LC Beneficiary. Subject to Section 2.2.6(b), LC Issuing Bank shall not modify the conditions for draws or terms of availability for any Letter of Credit issued and outstanding hereunder without Borrower's consent. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the Application, the terms and conditions of this Agreement shall control.
Issuance of the Letters of Credit. Subject to the terms and conditions set forth in this Agreement, LC Bank shall, during the Loan Availability Period, on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue, extend or increase the
Issuance of the Letters of Credit. (a) Each Letter of Credit shall be issued upon the request of a Borrower, on its own behalf or on behalf of any of its Subsidiaries, received by (i) the Issuing Bank or (ii) the Syndicated L/C Bank, each with a copy to the Agent delivered by such Borrower, not later than 3:00 p.m. (New York City time) three Business Days prior to the date of issuance; provided, however, that if a requested syndicated Letter of Credit is not substantially identical to Exhibit F, then such notice shall require a minimum of eight Business Days' notice. Upon receipt of such request, the Issuing Bank or the Syndicated L/C Bank will request the Agent to determine that after giving effect to the issuance of the Letter of Credit so requested, the aggregate amount of all Loans and all Letter of Credit Obligations then outstanding will not exceed the Commitments, and the Agent will promptly notify the Issuing Bank or the Syndicated L/C Bank of such determination. The Agent will promptly notify each Bank of each request for issuance of a Letter of Credit.
(b) Each request for issuance of a Letter of Credit shall be made in writing by telecopier and confirmed by delivery (not more than one Business Day thereafter) of a Letter of Credit Application and Agreement, in the case of a Standby Letter of Credit, in the form of Exhibit G-1, and, in the case of a Commercial Letter of Credit, in the form of Exhibit G-2 (each, an "L/C Application"). Each request for issuance of a Letter of Credit shall specify, among other things: (i) the proposed date of issuance (which shall be a Business Day); (ii) the Person on whose behalf the Letter of Credit is to be issued; (iii) the face amount of the Letter of Credit; (iv) the date of expiration of the Letter of Credit; (v) the name and address of the beneficiary thereof; (vi) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (vii) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; (viii) other proposed terms of such Letter of Credit; and (ix) the nature of the transaction proposed to be supported by such Letter of Credit. The Borrower making such request shall furnish such additional information regarding such transaction as the Agent or such Issuing Bank through the Agent may reasonably request in writing.
(c) Each Bank shall provide the Agent with a power of attorney in order to expedite the issuance of any syndicated Letter of Credit on beha...
Issuance of the Letters of Credit. Subject to the terms and conditions set forth herein, Co-Borrowers may request the issuance of one or more Letters of Credit for their own account, in each case in form and substance reasonably acceptable to the applicable LC Issuer and Co-Borrowers at any time and from time to time during the LC Availability Period. Letters of Credit may be issued solely in support of any Co-Borrower’s collateral posting obligations under any Permitted Commodity Hedge Agreements; provided, however, that if any Incremental LC Commitments are obtained then Letters of Credit in an amount equal to such Incremental LC Commitments shall be issued solely in support of PowerCo’s collateral posting obligations in connection with a bid in the PJM Capacity Auction (and for no other purpose). It is understood that as of the Closing Date, the Stated Amount of each Letter of Credit described on Exhibit M shall be equal to the respective amount set forth on such Exhibit.
