Common use of Method for Issuance; Terms; Extensions Clause in Contracts

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such Lender’s participation in such Letter of Credit. Unless the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Domestic Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

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Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice at least three Domestic Business Days (or such shorter notice as 41 may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such LenderXxxxxx’s participation in such Letter of Credit. Unless the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Domestic Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice (with a copy to the Administrative Agent) at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such Lender’s participation in such Letter of Credit. Unless If requested by the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent Borrower shall submit a letter of credit application on the Issuing Lender’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the BorrowerBorrower to, at least one Domestic Business Day prior or entered into by the Borrower with, the Issuing Lender relating to the requested date of issuance or amendment of the applicable any Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practicesthis Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Textron Inc)

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice (with a copy to the Administrative Agent) at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such Lender’s participation in such Letter of Credit. Unless If requested by the applicable Issuing Lender has received written notice from any LenderBank, the Administrative Agent Borrower shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the BorrowerBorrower to, at least one Domestic Business Day prior or entered into by the Borrower with, the Issuing Bank relating to the requested date of issuance or amendment of the applicable any Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practicesthis Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Textron Inc)

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such Lender’s participation in such Letter of Credit. Unless the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Domestic Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

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Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice signed by a Responsible Officer of the Borrower (with a copy to the Administrative Agent) at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extensionextension of a Letter of Credit, other than an Auto-Extension Letter of Credit, prior to the applicable Issuing Lender’s deadline for notice of nonextensionsuch notice) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). If requested by the applicable Issuing Lender in connection with any request for any Letter of Credit, the Borrower also shall submit a letter of credit application on such Issuing Lender’s standard form. Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify confirm with the Administrative AgentAgent (by telephone or in writing) that the Administrative Agent has received a copy of such Notice of Issuance from the Borrower and, if not, the Issuing Lender will provide the Administrative Agent with a copy thereof, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such LenderXxxxxx’s participation in such Letter of Credit. Unless the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Domestic Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Edison Co of New York Inc)

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice (with a copy to the Administrative Agent) at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such LenderXxxxxx’s participation in such Letter of Credit. Unless If requested by the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent Borrower shall submit a letter of credit application on the Issuing Lender’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the BorrowerBorrower to, at least one Domestic Business Day prior or entered into by the Borrower with, the Issuing Lender relating to the requested date of issuance or amendment of the applicable any Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practicesthis Agreement shall control.

Appears in 1 contract

Samples: Credit Agreement (Textron Inc)

Method for Issuance; Terms; Extensions. (i) The Borrower shall give the applicable Issuing Lender notice at least three Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Lender in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the applicable Issuing Lender’s deadline for notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the applicable Issuing Lender shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender of the contents thereof and of the amount of such LenderXxxxxx’s participation in such Letter of Credit. Unless the applicable Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one Domestic Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 3.02 shall not then be satisfied, then, subject to the terms and conditions hereof, the applicable Issuing Lender shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the applicable Issuing Lender’s usual and customary business practices.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

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