Common use of Issue of Documentary Credits Clause in Contracts

Issue of Documentary Credits. (a) Each L/C Bank shall issue Documentary Credits pursuant to Clause 4.1 (Conditions to Utilisation) by: (i) completing the issue date and the proposed Expiry Date of any Documentary Credit to be issued by it; and (ii) executing and delivering such Documentary Credit to the relevant Beneficiary on the relevant Utilisation Date. (b) Each Lender having a Revolving Facility Commitment (an “Indemnifying Lender”) will participate by way of indemnity in each Documentary Credit in an amount equal to its L/C Proportion. (c) The Facility Agent shall notify each Indemnifying Lender and the L/C Bank of the details of any requested Documentary Credit (including the Sterling Amount of it, and, if such Documentary Credit is not to be denominated in Sterling, the relevant currency in which it will be denominated and the amount of it) and its participation in that Documentary Credit.

Issue of Documentary Credits. (a) Each L/C Bank shall issue Documentary Credits pursuant to Clause 4.1 (Conditions to Utilisation) by: (i) completing the issue date and the proposed Expiry Date of any Documentary Credit to be issued by it; and (ii) executing and delivering such Documentary Credit to the relevant Beneficiary on the relevant Utilisation Date. (b) Each Lender having a Revolving Facility Commitment (an “Indemnifying L/C Lender”) will participate by way of indemnity in each Documentary Credit in an amount equal to its L/C Proportion. (c) The Facility Agent shall notify each Indemnifying L/C Lender and the relevant L/C Bank of the details of any requested Documentary Credit (including the Sterling Amount of it, and, if such Documentary Credit is not to be denominated in Sterling, the relevant currency in which it will be denominated and the amount of it) and its participation in that Documentary Credit.

Issue of Documentary Credits. (a) Each L/C Bank shall issue Documentary Credits pursuant to Clause 4.1 (Conditions to Utilisation) by: (i) completing the issue date and the proposed Expiry Date of any Documentary Credit to be issued by it; and (ii) executing and delivering such Documentary Credit to the relevant Beneficiary on the relevant Utilisation Date. (b) Each Lender having a Revolving Facility Commitment or a Secondary Revolving Facility Commitment (an “Indemnifying Lender”) will participate by way of indemnity in each Documentary Credit in an amount equal to its L/C Proportion. (c) The Facility Agent shall notify each Indemnifying Lender and the L/C Bank of the details of any requested Documentary Credit (including the Sterling Amount of it, and, if such Documentary Credit is not to be denominated in Sterling, the relevant currency in which it will be denominated and the amount of it) and its participation in that Documentary Credit.

Issue of Documentary Credits. (a) Each L/C Bank shall issue Documentary Credits pursuant to Clause 4.1 (Conditions to Utilisation) by: (i) completing the issue date and the proposed Expiry Date of any Documentary Credit to be issued by it; and (ii) executing and delivering such Documentary Credit to the relevant Beneficiary on the relevant Utilisation Date. (b) Each Lender having a Revolving Facility Commitment or a Secondary Revolving Facility Commitment (an “Indemnifying Lender”) will participate by way of indemnity in each Documentary Credit in an amount equal to its L/C Proportion. (c) The Facility Agent shall notify each Indemnifying Lender and the L/C Bank of the details of any requested Documentary Credit (including the Sterling Amount of it, and, if such Documentary Credit is not to be denominated in Sterling, the relevant currency in which it will be denominated and the amount of it) and its participation in that Documentary Credit.

Issue of Documentary Credits. (a) Each L/C Bank shall issue Documentary Credits pursuant to Clause 4.1 (Conditions to Utilisation) by: (i) completing the issue date and the proposed Expiry Date of any Documentary Credit to be issued by it; and (ii) executing and delivering such Documentary Credit to the relevant Beneficiary on the relevant Utilisation Date. (b) Each Lender having a Revolving Facility Commitment (an “Indemnifying Lender”) will participate by way of indemnity in each Documentary Credit in an amount equal to its L/C Proportion. (c) The Facility Agent shall notify each Indemnifying Lender and the L/C Bank of the details of any requested Documentary Credit (including the its Sterling Amount of it, and, if such Documentary Credit is not to be denominated in Sterling, the relevant currency in which it will be denominated and the amount of itAmount) and its participation in that Documentary Credit.