Issuing. Each Letter of Credit shall be issued, increased, or extended pursuant to a Letter of Credit Application (or by telephone notice promptly confirmed in writing by a Letter of Credit Application or other means acceptable to the applicable Issuing Bank), given not later than 11:00 a.m. (Dallas, Texas time) on the third Business Day before the date of the proposed issuance, increase, or extension of the Letter of Credit, and the Administrative Agent shall give to each Lender prompt notice thereof by telex, telephone or telecopy. Each Letter of Credit Application shall be given by hand delivery, telecopier, telex, e-mail, or other electronic transmission, confirmed in writing or other acceptable means to the extent requested, specifying the information required therein. After the applicable Issuing Bank’s receipt of such Letter of Credit Application and upon fulfillment (or waiver in writing) of the applicable conditions set forth in Article III, such Issuing Bank shall issue, increase, or extend such Letter of Credit for the account of the Borrower or any applicable Subsidiary. Each Letter of Credit Application shall be irrevocable and binding on the Borrower.
Appears in 3 contracts
Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)
Issuing. Each Letter of Credit shall be issued, increased, or extended pursuant to a Letter of Credit Application (or by telephone notice promptly confirmed in writing by a Letter of Credit Application or other means acceptable to the applicable Issuing Bank), given not later than 11:00 a.m. (Dallas, Texas time) on the third Business Day before the date of the proposed issuance, increase, or extension of the Letter of Credit, and the Administrative Agent shall give to each Lender prompt notice thereof by telex, telephone or telecopy. Each Letter of Credit Application shall be given by hand delivery, telecopier, telex, e-mail, or other electronic transmission, confirmed in writing or other acceptable means to the extent requested, specifying the information required therein. After the applicable Issuing Bank’s receipt of such Letter of Credit Application and upon fulfillment (or waiver in writing) of the applicable conditions set forth in Article III, such Issuing Bank shall issue, increase, or extend such Letter of Credit for the account of the Borrower or any applicable Subsidiary. Each Letter of Credit Application shall be irrevocable and binding on the Borrower.. 3rd Amended/Restated Credit Agreement
Appears in 1 contract
Samples: Third Amended and Restated Credit Agreement (HF Sinclair Corp)
