Common use of Issuance Procedures Clause in Contracts

Issuance Procedures. By delivering to the Administrative Agent an Issuance Request on or before 12:00 noon, New York City time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three nor more than ten Business Days' notice, in the case of an issuance of a Letter of Credit for the account of the Borrower, and not less than three Business Days' prior notice, in the case of a request for the extension of the Stated Expiry Date of a Letter of Credit, that the Issuer issue, or extend the Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer, solely for the purposes described in Section 7.1.10. Each Letter of Credit shall by its terms be stated to expire on a date (its "Stated Expiry Date") no later than the earlier to occur of (i) the Commitment Termination Date or (ii) one year from the date of its issuance. The Issuer will make available to the beneficiary thereof the original of each Letter of Credit which it issues hereunder.

Appears in 1 contract

Samples: Credit Agreement (Prosource Inc)

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Issuance Procedures. By delivering to the Administrative ------------------- Agent an Issuance Request on or before 12:00 noon, New York City time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three nor more than ten Business Days' notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, and not less than three Business Days' prior notice, in the case of a request for the extension of the Stated Expiry Date of a Letter of Credit, that the Issuer issue, or extend the Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer, solely for the purposes described in Section 7.1.107.1.11. -------------- Each Letter of Credit shall by its terms be stated to expire on a date (its "Stated Expiry Date") no later than the earlier to occur of (i) the Revolving ------------------ Loan Commitment Termination Date or (ii) one year from the date of its issuance. The Issuer will make available to the beneficiary thereof the original of each Letter of Credit which it issues hereunder. The Issuer shall give prompt written notice to the Administrative Agent of the Stated Amount of any such Letter of Credit so issued.

Appears in 1 contract

Samples: Credit Agreement (Primestar Inc)

Issuance Procedures. By delivering to the Administrative Agent an Issuance Request on or before 12:00 noon, New York City time, on a Business Day, the Borrower may, may from time to time irrevocably request, request on not less than three nor more than ten Business Days' notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, and not less than three Business Days' prior notice, in the case of a request for the extension of the Stated Expiry Date of a standby Letter of Credit, that the an Issuer issue, or extend the Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the such Issuer, solely for the purposes described in Section 7.1.10SECTION 7.1.8. Each Letter of Credit shall by its terms be stated to expire on a date (its "Stated Expiry DateSTATED EXPIRY DATE") no later than the earlier to occur of (i) the Revolving Loan Commitment Termination Date or and (ii) one year (unless otherwise agreed to by an Issuer, in its sole discretion) two years from the date of its issuance. The Each Issuer will make available to the beneficiary thereof the original of each the Letter of Credit which it issues hereunder.

Appears in 1 contract

Samples: Credit Agreement (Titan Corp)

Issuance Procedures. By delivering to the Administrative Agent an Issuance Request on or before 12:00 noon, New York City time, on a Business Day, the Borrower may, may from time to time irrevocably request, request on not less than three nor more than ten Business Days' notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, and not less than three Business Days' prior notice, in the case of a request for the extension of the Stated Expiry Date of a standby Letter of Credit, that the an Issuer issue, or extend the Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the such Issuer, solely for the purposes described in Section 7.1.107.1.8. Each Letter of Credit shall by its terms be stated to expire on a date (its "Stated Expiry Date") no later than the earlier to occur of (i) the Revolving Loan Commitment Termination Date or and (ii) one year (unless otherwise agreed to by an Issuer, in its sole discretion) two years from the date of its issuance. The Each Issuer will make available to the beneficiary thereof the original of each the Letter of Credit which it issues hereunder.

Appears in 1 contract

Samples: Security Agreement (Titan Corp)

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Issuance Procedures. By delivering to the Administrative ------------------- Agent an Issuance Request on or before 12:00 noon, New York City time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three nor more than ten Business Days' notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, and not less than three Business Days' prior notice, in the case of a request for the extension of the Stated Expiry Date of a Letter of Credit, that the Issuer issue, or extend the Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer, solely for the purposes described in Section 7.1.107.1.11. Each Letter -------------- of Credit shall by its terms be stated to expire on a date (its "Stated Expiry ------------- Date") no later than the earlier to occur of (i) the Commitment Termination Date ---- or (ii) one year from the date of its issuance. The Issuer will make available to the beneficiary thereof the original of each Letter of Credit which it issues hereunder. The Issuer shall give prompt written notice to the Administrative Agent of the Stated Amount of any such Letter of Credit so issued.

Appears in 1 contract

Samples: Credit Agreement (Tci Satellite Entertainment Inc)

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