Issuing Bank Agreement. Unless otherwise requested by the Administrative Agent, each Issuing Bank shall report in writing to the Administrative Agent (i) on or prior to each Business Day on which such Issuing Bank issues, amends, renews or extends any Letter of Credit, the date of such issuance, amendment, renewal or extension, the face amount and currency of such Letter of Credit, the expiry date of such Letter of Credit (after giving effect to any such amendment, renewal or extension), the Borrower for whose account such Letter of Credit was issued and whether such Letter of Credit is a Global Tranche Letter of Credit or a US/UK Tranche Letter of Credit, (ii) on each Business Day on which such Issuing Bank makes any LC Disbursement, the date, amount and currency of such LC Disbursement and the Letter of Credit to which it relates, (iii) on any Business Day on which the Borrower reimburses an LC Disbursement required to be reimbursed to such Issuing Bank, the date, amount and currency of such reimbursement and the Letter of Credit to which it relates, (iv) promptly following the expiry of any Letter of Credit issued by it, the identity and amount of such Letter of Credit, (iv) on any Business Day on which the Borrower fails to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the amount and currency of such LC Disbursement, (v) on or promptly after the last Business Day of each month, a listing of all the outstanding Letters of Credit issued by such Issuing Bank, setting forth as to each such Letter of Credit its amount, currency and expiry date, the Borrower for whose account it was issued and whether such Letter of Credit is a Global Tranche Letter of Credit or a US/UK Tranche Letter of Credit, and (vi) on any other Business Day, such other information related to Letters of Credit issued by such Issuing Bank as the Administrative Agent shall reasonably request. Each Issuing Bank agrees that it will not issue or increase the amount of any Letter of Credit without first obtaining written confirmation from the Administrative Agent that such issuance or increase is then permitted under this Agreement.
Issuing Bank Agreement. Pursuant to Section 2.04(k) of the Credit Agreement, the Borrower hereby provides notice to the Administrative Agent and the Lenders of its designation of Bank of Montreal, Truist Bank and PNC Bank, National Association (each, an “Additional Issuing Bank” and collectively, the “Additional Issuing Banks”) as additional Issuing Banks, and that each Additional Issuing Bank has accepted such appointment. The Additional Issuing Banks, the Borrower and the Administrative Agent agree that this Amendment shall constitute an Issuing Bank Agreement as described in Section 2.04(k) of the Credit Agreement, to be effective as of the Montage Merger Effective Date. Accordingly, from and after the Montage Merger Effective Date, (a) each Additional Issuing Bank shall have all the rights and obligations of an Issuing Bank under the Credit Agreement and the other Loan Documents, (b) references in the Credit Agreement and in the other Loan Documents to the term “Issuing Bank” shall be deemed to include each Additional Issuing Bank in its capacity as an Issuing Bank, and (c) the LC Issuance Limits of each Additional Issuing Bank are as forth on Schedule 1.01B of the Credit Agreement, as amended by this Amendment.
Issuing Bank Agreement. Upon the execution of this Agreement, Company shall promptly submit to InComm a copy of its duly executed agreement with Issuing Bank demonstrating Company’s authority to provide the Program Management Services for Issuing Bank’s Prepaid Products (“Issuing Bank Agreement”). If, during the Term, Issuing Bank ceases to issue Programs Cards under the Issuing Bank Agreement and Company engages a successor bank (“Successor Bank”) to issue Prepaid Products, InComm will have no obligation to provide the Processing Services until (a) Company submits to InComm a duly executed Issuing Bank Agreement with such Successor Bank (as Issuing Bank) and (b) InComm provides to Company its written approval of Company’s continued arrangement with Successor Bank (as Issuing Bank).
