Common use of Manner of Requesting Letters of Credit Clause in Contracts

Manner of Requesting Letters of Credit. (a) From time to time, Borrower may request that Agent issue a standby letter of credit for Borrower’s account or extend or renew any existing Letters of Credit; provided however, the intended beneficiary of the Letter of Credit is a customer of Borrower. Such request will be made by delivering a written request or making an oral request for the issuance, extension or renewal of such a letter of credit to Agent not later than 9:00 a.m. (Seattle time) on the date a new letter of credit is to be issued or an existing letter of credit is scheduled to expire, provided that, any request given orally shall be confirmed by Borrower in a writing delivered to Agent not later than 10:00 a.m. (Seattle time) on the date such oral request is made. Each such request shall be deemed to constitute a representation and warranty by Borrower that as of the date of such request, statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each such request shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, the name of the intended beneficiary thereof, and whether such Letter of Credit is a new letter of credit or an extension or renewal thereof. Borrower, Lenders and Agent acknowledges that the Existing Letters of Credit shall be subject to and governed by the terms of this Agreement and that the Lenders shall, in accordance with Section 4.1(b), pay to Agent at closing their portion of the Letter of Credit Risk Participation pursuant to the terms of Article 10.

Manner of Requesting Letters of Credit. (a) From time to time, Borrower may request that Letter of Credit Agent issue a standby letter Standby or Commercial Letters of credit Credit for Borrower’s 's account or extend or renew any existing Letters of Credit; provided however, the intended beneficiary of the Letter of Credit is a customer of Borrower. Such request will be made by delivering a written request or making an oral request for the issuance, extension or renewal of such a letter of credit (a "Letter of Credit Request") to Agent not later than 9:00 11:00 a.m. (Seattle time) on the date a new letter of credit is to be issued or an existing letter of credit is scheduled to expire, provided that, any request given orally shall be confirmed by Borrower in a writing delivered to Agent not later than 10:00 a.m. 12:00 Noon (Seattle time) on the date such oral request is made. Each such request Letter of Credit Request shall be deemed to constitute a representation and warranty by Borrower that as of the date of such request, statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each such request Letter of Credit Request shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, the name of the intended beneficiary thereof, and whether such Letter of Credit is a new letter Standby or Commercial Letter of credit Credit or an extension or renewal thereof. Borrower, Lenders and Agent acknowledges that the Existing Letters of Credit shall be subject to and governed by the terms of this Agreement and that the Lenders shall, in accordance with Section 4.1(b), pay to Agent at closing their portion of the Letter of Credit Risk Participation pursuant to the terms of Article 10.

Manner of Requesting Letters of Credit. (a) From time to time, Borrower may request that Agent issue a standby or commercial letter of credit for Borrower’s 's account or extend or renew any existing Letters of Credit; provided however, the intended beneficiary of the Letter of Credit is a customer of Borrower. Such request will be made by delivering a written request or making an oral request (confirmed in writing by facsimile that same day) for the issuance, extension or renewal of such a letter of credit to Agent not later than 9:00 a.m. (Seattle time) on the date a new letter of credit is to be issued or an existing letter of credit is scheduled to expire, provided PROVIDED that, any request given orally shall be confirmed by Borrower in a writing delivered to Agent not later than 10:00 a.m. (Seattle time) on the date such oral request is made. Each such request shall be deemed to constitute a representation and warranty by Borrower that as of the date of such request, statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each such request shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, the name of the intended beneficiary thereof, and whether such Letter of Credit is a new standby or commercial letter of credit or an extension or renewal thereof. Borrower, Lenders and Agent acknowledges that the Existing Letters of Credit shall be subject to and governed by the terms of this Agreement and that the Lenders shall, in accordance with Section 4.1(b), pay to Agent at closing their portion of the Letter of Credit Risk Participation pursuant to the terms of Article 10.

Manner of Requesting Letters of Credit. (a) From time to time, Borrower may request that Agent issue a standby or commercial letter of credit for Borrower’s 's account or extend or renew any existing Letters of Credit; provided however, the intended beneficiary of the Letter of Credit is a customer of Borrower. Such request will be made by delivering a written request or making an oral request (confirmed in writing by facsimile that same day) for the issuance, extension or renewal of such a letter of credit to Agent not later than 9:00 a.m. (Seattle time) on the date a new letter of credit is to be issued or an existing letter of credit is scheduled to expire, provided that, any request given orally shall be confirmed by Borrower in a writing delivered to Agent not later than 10:00 a.m. (Seattle time) on the date such oral request is made. Each such request shall be deemed to constitute a representation and warranty by Borrower that as of the date of such request, statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each such request shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, the name of the intended beneficiary thereof, and whether such Letter of Credit is a new standby or commercial letter of credit or an extension or renewal thereof. Borrower, Lenders and Agent acknowledges that the Existing Letters of Credit shall be subject to and governed by the terms of this Agreement and that the Lenders shall, in accordance with Section 4.1(b), pay to Agent at closing their portion of the Letter of Credit Risk Participation pursuant to the terms of Article 10.

Manner of Requesting Letters of Credit. (a) From time to time, Borrower may request that Agent issue a standby letter of credit for Borrower’s 's account or extend or renew any existing Letters of Credit; provided however, the intended beneficiary of the Letter of Credit is a customer of Borrower. Such request will be made by delivering a written request or making an oral request for the issuance, extension or renewal of such a letter of credit to Agent not later than 9:00 a.m. (Seattle time) on the date a new letter of credit is to be issued or an existing letter of credit is scheduled to expire, provided that, any request given orally shall be confirmed by Borrower in a writing delivered to Agent not later than 10:00 a.m. (Seattle time) on the date such oral request is made. Each such request shall be deemed to constitute a representation and warranty by Borrower that as of the date of such request, statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing. Each such request shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, the name of the intended beneficiary thereof, and whether such Letter of Credit is a new letter of credit or an extension or renewal thereof. Borrower, Lenders and Agent acknowledges that the Existing Letters of Credit shall be subject to and governed by the terms of this Agreement and that the Lenders shall, in accordance with Section 4.1(b), pay to Agent at closing their portion of the Letter of Credit Risk Participation pursuant to the terms of Article 10.