Common use of Notice of Issuance and Letter of Credit Application Clause in Contracts

Notice of Issuance and Letter of Credit Application. (A) The Borrower (or the applicable Restricted Subsidiary) shall give the relevant L/C Issuer and Agent a notice of any requested Issuance of any Letter of Credit, appropriately completed and signed by a Responsible Officer of the Borrower, which shall be effective only if received by such L/C Issuer and Agent not later than 1:00 p.m. on the third (3rd) Business Day prior to the date of such requested Issuance. Such notice shall be made in a writing in the form of an application and agreement for the issuance or amendment of a Letter of Credit from time to time in use by such L/C Issuer, appropriately completed and signed by a Responsible Officer of the Borrower (an “L/C Request”). In the case of a request for an initial issuance of a Letter of Credit, such L/C Request shall specify in form and detail satisfactory to such L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as such L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such L/C request shall specify in form and detail satisfactory to such L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as such L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to such L/C Issuer and Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as such L/C Issuer or Agent may reasonably require. (B) If the Borrower so requests in any applicable L/C Request, the applicable L/C Issuer may, in its discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by such L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) such L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the date that is seven (7) days prior to the date specified in clause (a) of the definition of Revolving Termination Date (unless cash collateralized in a manner reasonably satisfactory to such L/C Issuer); provided, however, that such L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (i) of Section 1.1(c) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from Agent that the Required Revolving Lenders have elected not to permit such extension or (2) from Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 2.2 is not then satisfied, and in each such case directing such L/C Issuer not to permit such extension. (C) To the extent that any provision of any L/C Request or any Issuer Documents related to any Letter of Credit is inconsistent with the provisions of this Agreement, the provisions of this Agreement shall apply.

Notice of Issuance and Letter of Credit Application. (A) The Borrower (or the applicable Restricted Subsidiary) shall give the relevant L/C Issuer and Agent a notice of any requested Issuance of any Letter of Credit, appropriately completed and signed by a Responsible Officer of the Borrower, which shall be effective only if received by such L/C Issuer and Agent not later than 1:00 p.m. on the third (3rd) Business Day prior to the date of such requested Issuance. Such notice shall be made in a writing in the form of an application and agreement for the issuance or amendment of a Letter of Credit from time to time in use by such L/C Issuer, appropriately completed and signed by a Responsible Officer of the Borrower (an “L/C Request”). In the case of a request for an initial issuance of a Letter of Credit, such L/C Request shall specify in form and detail satisfactory to such L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as such L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such L/C request shall specify in form and detail satisfactory to such L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as such L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to such L/C Issuer and Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as such L/C Issuer or Agent may reasonably require. (B) If the Borrower so requests in any applicable L/C Request, the applicable L/C Issuer may, in its discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by such L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) such L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the date that is seven (7) days prior to the date specified in clause (a) of the definition of “Revolving Termination Date Date” (unless cash collateralized in a manner reasonably satisfactory to such L/C Issuer); provided, however, that such L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (i) of Section 1.1(c) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from Agent that the Required Revolving Lenders have elected not to permit such extension or (2) from Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 2.2 is not then satisfied, and in each such case directing such L/C Issuer not to permit such extension. (C) To the extent that any provision of any L/C Request or any Issuer Documents related to any Letter of Credit is inconsistent with the provisions of this Agreement, the provisions of this Agreement shall apply.

Notice of Issuance and Letter of Credit Application. (A) The Borrower (or the applicable Restricted Subsidiary) shall give the relevant L/C Issuer and Agent a notice of any requested Issuance of any Letter of Credit, appropriately completed and signed by a Responsible Officer of the Borrower, which shall be effective only if received by such L/C Issuer and Agent not later than 1:00 p.m. on the third (3rd) Business Day prior to the date of such requested Issuance. Such notice shall be made in a writing in the form of an application and agreement for the issuance or amendment of a Letter of Credit from time to time in use by such L/C Issuer, appropriately completed and signed by a Responsible Officer of the Borrower (an “L/C Request”). In the case of a request for an initial issuance of a Letter of Credit, such L/C Request shall specify in form and detail satisfactory to such L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as such L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such L/C request shall specify in form and detail satisfactory to such L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as such L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to such L/C Issuer and Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, US-DOCS\99983253.20 including any Issuer Documents, as such L/C Issuer or Agent may reasonably require. (B) If the Borrower so requests in any applicable L/C Request, the applicable L/C Issuer may, in its discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by such L/C Issuer, the Borrower shall not be required to make a specific request to such L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Lenders shall be deemed to have authorized (but may not require) such L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the date that is seven (7) days prior to the date specified in clause (a) of the definition of Revolving Termination Date (unless cash collateralized in a manner reasonably satisfactory to such L/C Issuer); provided, however, that such L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (i) of Section 1.1(c) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from Agent that the Required Revolving Lenders have elected not to permit such extension or (2) from Agent, any Revolving Lender or the Borrower that one or more of the applicable conditions specified in Section 2.2 is not then satisfied, and in each such case directing such L/C Issuer not to permit such extension. (C) To the extent that any provision of any L/C Request or any Issuer Documents related to any Letter of Credit is inconsistent with the provisions of this Agreement, the provisions of this Agreement shall apply.