Letter of Credit Requests; Notices of Issuance; Reports. (a) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give the Administrative Agent and the respective Letter of Credit Issuer a written request (including by way of telecopier) in the form of Exhibit A-2 prior to 1:00 P.M. (New York time) at least three Business Days (or such shorter period as may be acceptable to such Letter of Credit Issuer) prior to the proposed date (which shall be a Business Day) of issuance (each a "Letter of Credit Request"), which Letter of Credit Request shall include any other documents that such Letter of Credit Issuer customarily requires in connection therewith. (b) The respective Letter of Credit Issuer shall, promptly after each issuance of a Standby Letter of Credit by it, give the Administrative Agent, each Bank and the Borrower written notice of the issuance of such Standby Letter of Credit, accompanied by a copy of the Standby Letter of Credit or Standby Letters of Credit issued by it. (c) Each Letter of Credit Issuer (other than BTCo) shall, by 11:00 A.M. on the first Business Day of each week, forward to the Administrative Agent (by way of telecopier) a report listing the aggregate daily outstanding balances for the previous week of the Trade Letters of Credit issued by such Letter of Credit Issuer. Each month the Administrative Agent shall forward to each Bank a report listing the daily aggregate amount available to be drawn under all Trade Letters of Credit outstanding during the previous month.
Appears in 1 contract
Letter of Credit Requests; Notices of Issuance; Reports. (a) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give the Administrative Agent and the respective Letter of Credit Issuer a written request (including by way of telecopier) in the form of Exhibit A-2 C prior to 1:00 P.M. (New York time) at least three one Business Days Day (or such shorter period as may be acceptable to such Letter of Credit Issuer) prior to the proposed date (which shall be a Business Day) of issuance (each a "Letter of Credit Request"), which Letter of Credit Request shall include any other documents that such Letter of Credit Issuer customarily requires in connection therewith.
(b) The respective Letter of Credit Issuer shall, promptly after each issuance of a Standby Letter of Credit by it, give the Administrative Agent, each Bank and the Borrower written notice of the issuance of such Standby Letter of Credit, accompanied by a copy of the Standby Letter of Credit or Standby Letters of Credit issued by it.
(c) Each In the event that the Letter of Credit Issuer (is other than BTCo) shallthe Administrative Agent, such Letter of Credit Issuer will send by 11:00 A.M. facsimile transmission to the Administrative Agent, promptly on the first Business Day of each week, forward its daily maximum amount available to be drawn under the Administrative Agent (by way of telecopier) a report listing the aggregate daily outstanding balances for the previous week of the Trade Letters of Credit issued by such Letter of Credit IssuerIssuer for the previous week. Each month the The Administrative Agent shall forward deliver to each Bank upon each calendar month end, and upon each Letter of Credit Fee payment, a report listing setting forth the daily aggregate maximum amount available to be drawn under for all Trade Letters Letter of Credit outstanding Issuers during the previous monthsuch period.
Appears in 1 contract
Letter of Credit Requests; Notices of Issuance; Reports. (a) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give the Administrative Agent and the respective Letter of Credit Issuer a written request (including by way of telecopier) in the form of Exhibit A-2 C prior to 1:00 P.M. (New York time) at least three Business Days (or such shorter period as may be acceptable to such Letter of Credit Issuer) prior to the proposed date (which shall be a Business Day) of issuance (each a "Letter of Credit Request"), which Letter of Credit Request shall include any other documents that such Letter of Credit Issuer customarily requires in connection therewith.
(b) The respective Letter of Credit Issuer shall, promptly after each issuance of a Standby Letter of Credit by it, give the Administrative Agent, each Bank and the Borrower written notice of the issuance of such Standby Letter of Credit, accompanied by a copy of the Standby Letter of Credit or Standby Letters of Credit issued by it.
(c) Each Letter of Credit Issuer (other than BTCo) shall, by 11:00 A.M. on the first Business Day of each week, forward to the Administrative Agent (by way of telecopier) a report listing the aggregate daily outstanding balances for the previous week of the Trade Letters of Credit issued by such Letter of Credit Issuer. Each month the Administrative Agent shall forward to each RC Bank a report listing the daily aggregate amount available to be drawn under all Trade Letters of Credit outstanding during the previous month.
Appears in 1 contract
Samples: Credit Agreement (Penhall Co)
Letter of Credit Requests; Notices of Issuance; Reports. (a) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give the Administrative Agent and the respective Letter of Credit Issuer a written request (including by way of telecopier) in the form of Exhibit A-2 C prior to 1:00 P.M. (New York time) at least three Business Days (or such shorter period as may be acceptable to such Letter of Credit Issuer) prior to the proposed date (which shall be a Business Day) of issuance (each a "Letter of Credit Request"), which Letter of Credit Request shall include any other documents that such Letter of Credit Issuer customarily requires in connection therewith.
(b) The respective Letter of Credit Issuer shall, promptly after each issuance of a or amendment to any Standby Letter of Credit by it, give the Administrative Agent, each Bank and the Borrower written notice of the issuance of or amendment to such Standby Letter of Credit, accompanied by a copy of the issued Standby Letter of Credit or Standby Letters of Credit issued by itamendment, as the case may be.
(c) Each Letter of Credit Issuer (other than BTCo) shall, by 11:00 A.M. on the first Business Day of each week, forward to the Administrative Agent (by way of telecopier) a report listing the aggregate daily outstanding balances for the previous week of the Trade Letters of Credit issued by such Letter of Credit Issuer. Each month the Administrative Agent shall forward to each Bank a report listing the daily aggregate amount available to be drawn under all Trade Letters of Credit outstanding during the previous month.
Appears in 1 contract
Letter of Credit Requests; Notices of Issuance; Reports. (a) Whenever the Borrower desires that a Letter of Credit be issued, the Borrower shall give the Administrative Agent and the respective Letter of Credit Issuer a written request (including by way of telecopier) in the form of Exhibit A-2 C prior to 1:00 P.M. (New York time) at least three Business Days (or such shorter period as may be acceptable to such Letter of Credit Issuer) prior to the proposed date (which shall be a Business Day) of issuance (each a "Letter of Credit Request"), which Letter of Credit Request shall include any other documents that such Letter of Credit Issuer customarily requires in connection therewith.
(b) The respective Letter of Credit Issuer shall, promptly after each issuance of a or amendment to any Standby Letter of Credit by it, give the Administrative Agent, each Bank Participant and the Borrower written notice of such issuance or amendment. Notice to the issuance of such Standby Letter of Credit, Administrative Agent and the Borrower shall be accompanied by a copy of the issued Standby Letter of Credit or Standby Letters of Credit issued by itamendment, as the case may be.
(c) Each Letter of Credit Issuer (other than BTCo) shall, by 11:00 A.M. on the first Business Day of each week, forward to the Administrative Agent (by way of telecopier) a report listing the aggregate daily outstanding balances for the previous week of the Trade Letters of Credit issued by such Letter of Credit Issuer. Each month the Administrative Agent shall forward to each Bank a report listing the daily aggregate amount available to be drawn under all Trade Letters of Credit outstanding during the previous month.
Appears in 1 contract