Common use of L/C Applications Clause in Contracts

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION 11 with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 2 contracts

Samples: Credit Agreement (U S Liquids Inc), Credit Agreement (U S Liquids Inc)

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L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank ---------------- (which shall promptly inform BofA) of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank BofA shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing BankBofA, together with such other documentation as the Agent or such Issuing Bank BofA may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank BofA has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfiedsatisfied (and does not have knowledge of any default in the payment of any principal, such Issuing Bank interest or fees to be paid to the Agent for the account of the Banks), BofA shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 2 contracts

Samples: Credit Agreement (United Rentals Inc), Credit Agreement (United Rentals Inc)

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than seven days prior to the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 2 contracts

Samples: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)

L/C Applications. The Company shall give notice to the Administrative Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Administrative Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Administrative Agent and the applicable Issuing Bank, together with such other documentation as the Administrative Agent or such Issuing Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than seven days prior to the Revolving Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Administrative Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (Synagro Technologies Inc)

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such the Issuing Bank shall agree in any particular instanceinstance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such the Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the earlier to occur of (x) one year after the date of issuance thereof and (y) thirty days prior to the scheduled Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such the Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each The Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of any L/C Application and the terms of this Agreement, the terms of this Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Loews Cineplex Entertainment Corp)

L/C Applications. Each Company shall execute and deliver to the Issuing Lender the Master Letter of Credit Agreement from time to time in effect. The Company Representative shall give notice to the Administrative Agent and the applicable Issuing Bank Lender of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Administrative Agent and such the Issuing Bank Lender shall agree in any particular instanceinstance in their reasonable discretion) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the applicable Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Administrative Agent and the applicable Issuing BankLender, together with such other documentation as the Administrative Agent or such the Issuing Bank Lender may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the scheduled Termination Date (unless such Letter of Credit is Cash Collateralized, in which case, such Letter of Credit expiration date may occur up to one year after the scheduled Termination Date) and )), whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION 11 with respect to the issuance of , and whether such Letter of Credit have not been satisfied, such Issuing Bank shall issue such is to be a Standby Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each or a Trade Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.of

Appears in 1 contract

Samples: Credit Agreement (Westell Technologies Inc)

L/C Applications. The Company Borrower shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company Borrower (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION 11 ARTICLE XI with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent and the Banks of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (Input Output Inc)

L/C Applications. The Company shall give notice to the Agent and ---------------- the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of ---------- Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

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L/C Applications. The Company Borrowers shall give written notice to the Agent and Issuing Lender in the applicable Issuing Bank form attached hereto as Exhibit F (“Notice of LOC”) of the proposed issuance of each Letter of Credit on a Business Day which is at least three seven (7) Business Days (or such lesser number of days as the Agent and such Issuing Bank Lender shall agree in any particular instanceinstance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit, and such Notice of LOC shall set forth the type of Letter of Credit (trade, banker’s acceptance or stand-by) and the proposed use of proceeds of such Letter of Credit. Each such notice Notice of LOC shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) Borrowers and in all respects satisfactory to the Agent and the applicable Issuing BankLender, together with such other documentation as the Agent or such Issuing Bank Lender may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Datescheduled Termination) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION 11 Section 12.2 with respect to the issuance of such Letter of Credit have not been satisfied, such the Issuing Bank Lender shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise In the Agent of the issuance of each Letter of Credit by such Issuing Bank and event of any amendment theretoinconsistency between the terms of any L/C Application and the terms of this Agreement, extension thereof or event or circumstance changing the amount available for drawing thereunderterms of this Agreement shall control.

Appears in 1 contract

Samples: Loan and Security Agreement (Pernix Group, Inc.)

L/C Applications. The Company shall give notice to the Agent and the ---------------- applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the scheduled Revolving Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of ---------- such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such the Issuing Bank shall agree in any particular instanceinstance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such the Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the earlier to occur of (a) one (1) year after the date of issuance thereof and (b) thirty (30) days prior to the scheduled Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such the Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each The Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of any L/C Application and the terms of this Agreement, the terms of this Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Valassis Communications Inc)

L/C Applications. The Company shall give notice to the Agent and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and the applicable Issuing Bank, together with such other documentation as the Agent or such Issuing Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as the applicable Issuing Bank has not received written notice that the conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit have not been satisfied, such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (Santi Group Inc /Ga)

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