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 Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such documents as the Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to the 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, the 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 Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such documents as the Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to the 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, the 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 Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such documents as the Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to the 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, the Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.