Common use of Notice and Reports Clause in Contracts

Notice and Reports. The request for the issuance of a Letter of Credit shall be submitted in writing to the applicable Issuing Lender at least three Business Days prior to the requested date of issuance. Such request shall specify the date such Letter of Credit is to be issued and describe the terms of such Letter of Credit and shall be accompanied by a completed application in form and substance satisfactory to such Issuing Lender. Each Issuing Lender will notify the Agent when a Letter of Credit is issued and the details with respect thereto and shall provide to the Agent and, upon written request, to the Lenders a detailed report specifying the Letters of Credit which are then issued and outstanding and any activity with respect thereto which may have occurred since the date of any prior report, and including therein, among other things, the account party, the beneficiary, the face amount, and the expiry date as well as any payments or expirations which may have occurred. Each Issuing Lender will further provide to the Agent, promptly upon request, copies of the Letters of Credit.

Notice and Reports. The Unless otherwise agreed to by the Issuing Lender and the applicable Borrower, the request for the issuance of a standby Letter of Credit shall be submitted in writing to the applicable Issuing Lender at least three (3) Business Days prior to the requested date of issuance. Such , and the request shall specify for the date such issuance of a trade Letter of Credit is shall be submitted to be issued and describe the terms Issuing Lender at least one (1) Business Day prior to the requested date of such issuance. The Issuing Lender will on the date of issuance of each Letter of Credit and shall be accompanied by a completed application in form and substance satisfactory to such Issuing Lender. Each Issuing Lender will notify the Agent when a Letter of Credit is issued and the details with respect thereto and shall promptly upon request provide to the Administrative Agent and, upon written request, to the Lenders a detailed report specifying the Letters of Credit which are then issued and outstanding and any activity with respect thereto which may have occurred since the date of any prior report, and including therein, among other things, the account party, the beneficiary, the face amount, and the expiry date as well as any payments or expirations which may have occurred. Each The Issuing Lender will further provide to the Agent, Administrative Agent promptly upon request, request copies of the Letters of Credit. The Issuing Lender will provide to the Administrative Agent, and any requesting Lender, promptly upon request a summary report of the nature and extent of LOC Obligations then outstanding.