Common use of Letter of Credit and LC Guaranty Requests Clause in Contracts

Letter of Credit and LC Guaranty Requests. A request for a Letter of Credit or LC Guaranty shall be made in the following manner: Borrower Representative or, in the case of notice to Fleet U.K., U.K. Borrower, may give Agent and Bank and Fleet U.K. or Fleet Canada, as applicable, a written notice of its request for the issuance of a Letter of Credit or LC Guaranty, not later than 11:00 a.m. (prevailing time in the location of the Appropriate Notice Office), three Business Days before the proposed issuance date thereof, in which notice Borrower Representative or U.K. Borrower shall specify whether the Letter of Credit or LC Guaranty is to be issued on behalf of a U.S. Loan Party, a Canadian Loan Party or a U.K. Loan Party, the issuance date and format and wording for the Letter of Credit or LC Guaranty being requested (which shall be satisfactory to Agent and Bank or U.K. Agent, as applicable, and the Person being asked to issue such Letter of Credit or LC Guaranty); and shall include the Letter of Credit application of the proposed issuer of the Letter of Credit, duly completed, provided that no such request may be made at a time when there exists a Default or Event of Default. Such request shall be accompanied by an executed application and reimbursement agreement in form and substance satisfactory to Agents and the Person being asked to issue the Letter of Credit or LC Guaranty (which shall be Bank or an Affiliate thereof or such other Person as approved by Agent in its sole discretion), as well as any required resolutions.

Letter of Credit and LC Guaranty Requests. A request for a Letter of Credit or LC Guaranty shall be made in the following manner: Borrower Representative or, in the case of notice to Fleet U.K., U.K. Borrower, may give Agent and Bank and Fleet U.K. or Fleet Canada, as applicable, a written notice of its request for the issuance of a Letter of Credit or LC Guaranty, not later than 11:00 a.m. (prevailing time in the location of the Appropriate Notice Office), three Business Days before the proposed issuance date thereof, in which notice Borrower Representative or U.K. Borrower shall specify whether the Letter of Credit or LC Guaranty is to be issued on behalf of a U.S. Loan PartyBorrower, a Canadian Loan Party Borrower or a U.K. Loan PartyBorrower, the issuance date and format and wording for the Letter of Credit or LC Guaranty being requested (which shall be satisfactory to Agent and Bank or U.K. Agent, as applicable, and the Person being asked to issue such Letter of Credit or LC Guaranty); and shall include the Letter of Credit application of the proposed issuer of the Letter of Credit, duly completedcompleted PROVIDED, provided that no such request may be made at a time when there exists a Default or Event of Default. Such request shall be accompanied by an executed application and reimbursement agreement in form and substance satisfactory to Agents and the Person being asked to issue the Letter of Credit or LC Guaranty (which shall be Bank or an Affiliate thereof or such other Person as approved by Agent in its sole discretion)Guaranty, as well as any required resolutions.

Letter of Credit and LC Guaranty Requests. A request for a Letter of Credit or LC Guaranty shall be made in the following manner: Borrower Representative or, in the case of notice to Fleet U.K.U.K. Agent, U.K. Borrower, may give Bank, Agent and Bank and Fleet or U.K. or Fleet CanadaAgent, as applicable, a written notice of its request for the issuance of a Letter of Credit or LC Guaranty, not later than 11:00 a.m. (prevailing time in the location of the Appropriate Notice Office), three Business Days before the proposed issuance date thereof, in which notice Borrower Representative or U.K. Borrower shall specify whether the Letter of Credit or LC Guaranty is to be issued on behalf of a U.S. Loan Party, a Canadian Loan Party or a U.K. Loan Party, the issuance date and format and wording for the Letter of Credit or LC Guaranty being requested (which shall be satisfactory to Agent and Bank or U.K. Agent, as applicable, and the Person being asked to issue such Letter of Credit or LC Guaranty); and shall include the Letter of Credit application of the proposed issuer of the Letter of Credit, duly completed, provided that no such request may be made at a time when there exists a Default or Event of Default. Such request shall be accompanied by an executed application and reimbursement agreement in form and substance satisfactory to Agents and the Person being asked to issue the Letter of Credit or LC Guaranty (which shall be Bank or an Affiliate thereof or such other Person as approved by Agent in its sole discretion), as well as any required resolutions.