Common use of Issue of Letter of Credit Clause in Contracts

Issue of Letter of Credit. (a) The Facility Agent must promptly notify the relevant Issuing Bank and each Lender of the details of the requested Letter of Credit and the amount of its share of that Letter of Credit. (b) The amount of each Lender’s share in a Letter of Credit will be its Pro Rata Share on the proposed Utilisation Date.

Issue of Letter of Credit. (a) The Facility Agent must promptly notify the relevant Issuing Bank and each Lender of the details of the requested Letter of Credit and the amount of its share of that Letter of Credit. (b) The amount of each Lender’s Lenders’ share in a Letter of Credit will be its Pro Rata Share of the principal amount of the Letter of Credit on the proposed Utilisation Date. (c) If the conditions set out in this Agreement have been met, the Issuing Bank must issue the Letter of Credit on the Utilisation Date.

Issue of Letter of Credit. (a) The relevant Facility Agent must promptly notify the relevant Issuing Bank and each relevant Lender of the details of the requested Letter of Credit and the amount of its share of that Letter of Credit. (b) The amount of each relevant Lender’s 's share in a Letter of Credit will be its Pro Rata Share on the proposed Utilisation Date. (c) If the conditions set out in this Agreement have been met, the relevant Issuing Bank must issue the Letter of Credit on the Utilisation Date.

Issue of Letter of Credit. (a) The Facility Agent must promptly notify the relevant Issuing Bank and each relevant Lender of the details of the requested Letter of Credit and the amount of its such Lender's share of that Letter of Credit. (b) The amount of each Lender’s 's share in a Letter of Credit will be equal to its Pro Rata Share of such Letter of Credit on the Utilisation Date. (c) If the conditions set out in this Agreement have been met, the Issuing Bank must issue the Letter of Credit on the proposed Utilisation DateDate and promptly thereafter provide a copy of that Letter of Credit to the Facility Agent.

Issue of Letter of Credit. (a) The Facility Agent must promptly notify the relevant Issuing Bank and each relevant Lender of the details of the requested Letter of Credit and the amount of its such Lender’s share of that Letter of Credit. (b) The amount of each Lender’s share in a Letter of Credit will be equal to its Pro Rata Share of such Letter of Credit on the Utilisation Date. (c) If the conditions set out in this Agreement have been met, the Issuing Bank must issue the Letter of Credit on the proposed Utilisation DateDate and promptly thereafter provide a copy of that Letter of Credit to the Facility Agent.