Common use of Issuing the Letters of Credit Clause in Contracts

Issuing the Letters of Credit. Each Letter of Credit shall be Issued on notice from the Borrower or any LC Subsidiary, as the case may be, to the respective Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof and whether such Letter of Credit is a Trade Letter of Credit or Standby Letter of Credit and, if it is a Standby Letter of Credit, the amount of all Standby Letters of Credit then outstanding, accompanied by such documents as such Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to such Issuing Bank. On the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01, such Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.

Issuing the Letters of Credit. Each Letter of Credit ------------------------------------------ shall be Issued on notice from the Borrower or any LC Subsidiary, as the case may be, to the respective Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof and whether such Letter of Credit is a Trade Letter of Credit or Standby Letter of Credit and, if it is a Standby Letter of Credit, the amount of all Standby Letters of Credit then outstanding, accompanied by such documents as such Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to such Issuing Bank. On the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01, such Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.

Issuing the Letters of Credit. Each Letter of Credit shall be Issued on notice from the Borrower or any LC Subsidiary, as the case may be, to the respective Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof and whether such Letter of Credit is a Trade Letter of Credit or Standby Letter of Credit and, if it is a Standby Letter of Credit, the amount of all Standby Letters of Credit then outstanding, accompanied by such documents as such Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to such Issuing Bank. On the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.013.01 hereof, such Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.