Notice of LC Activity. During the Commitment Increase Period, Borrower may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5, appropriately completed (a “Notice of LC Activity”), which specifies, among other things: (a) the particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased; (b) the issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than the then scheduled Maturity Date); and (c) the Stated Amount of such Letter of Credit which together with the aggregate Stated Amount of all Letters of Credit then outstanding, the aggregate amount of Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunder, shall not exceed the then Total Commitments. Borrower shall give the Notice of LC Activity to Administrative Agent and LC Issuing Bank at least five Banking Days before the requested date of issuance of any Letter of Credit, and at least five Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by Borrower, may not be modified or revoked.
Appears in 2 contracts
Samples: Credit Agreement (Teco Energy Inc), Credit Agreement (Tampa Electric Co)
Notice of LC Activity. During the Commitment Increase Period, Borrower may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the relevant LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5C-4, appropriately completed (a “Notice of LC Activity”), which specifies, among other things:
(ai) the particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased;
(bii) the name of the LC Issuing Bank for such Letter of Credit;
(iii) the issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than subject to the then scheduled Maturity Datelast sentence of Section 2.2.2); and
(civ) the Stated Amount of such Letter of Credit which together with the aggregate Stated Amount of all Letters of Credit then outstanding, the aggregate amount of Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunder, shall not exceed the then Total Commitments. Borrower shall give the Notice of LC Activity to Administrative Agent and the relevant LC Issuing Bank at least five two Banking Days before the requested date of issuance of any Letter of Credit, and at least five two Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by Borrower, may not be modified or revoked.
Appears in 2 contracts
Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)
Notice of LC Activity. During the Commitment Increase LC Availability Period, Borrower may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5, appropriately completed (a “"Notice of LC Activity”"), which specifies, among other things:
(a) the The particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased;
(b) the The issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than the then scheduled LC Maturity Date); and
(c) the The Stated Amount of such Letter of Credit which which, together with the aggregate Stated Amount of all other outstanding Letters of Credit then outstanding, the aggregate amount of and all outstanding Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunderthereunder, shall not exceed the then Total CommitmentsLetter of Credit Commitment. Borrower shall give the Notice of LC Activity to Administrative Agent and LC Issuing Bank at least five Banking Days before the requested date of issuance of any Letter of Credit, and at least five Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by Borrower, may not be modified or revoked.
Appears in 1 contract
Samples: Credit Agreement (Teco Energy Inc)
Notice of LC Activity. During the Commitment Increase Period, Borrower may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the relevant LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5C-4, appropriately completed (a “Notice of LC Activity”), which specifies, among other things:
(a) the particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased;
(b) the name of the LC Issuing Bank for such Letter of Credit;
(c) the issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than subject to the then scheduled Maturity Datelast sentence of Section 2.2.2); and
(cd) the Stated Amount of such Letter of Credit which together with the aggregate Stated Amount of all Letters of Credit then outstanding, the aggregate amount of Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunder, shall not exceed the then Total Commitments. Borrower shall give the Notice of LC Activity to Administrative Agent and the relevant LC Issuing Bank at least five two Banking Days before the requested date of issuance of any Letter of Credit, and at least five two Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by Borrower, may not be modified or revoked.
Appears in 1 contract
Samples: Credit Agreement (Tampa Electric Co)
Notice of LC Activity. During the Commitment Increase Period, Borrower LC Obligor may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the relevant LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5C-4, appropriately completed (a “Notice of LC Activity”), which specifies, among other things:
(a) the particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased;
(b) the name of the LC Issuing Bank for such Letter of Credit;
(c) the issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than subject to the then scheduled Maturity Datelast sentence of Section 2.2.2); and
(cd) the Stated Amount of such Letter of Credit which together with the aggregate Stated Amount of all Letters of Credit then outstanding, the aggregate amount of Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunder, shall not exceed the then Total Commitments. Borrower LC Obligor shall give the Notice of LC Activity to Administrative Agent and the relevant LC Issuing Bank at least five two Banking Days before the requested date of issuance of any Letter of Credit, and at least five two Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by BorrowerLC Obligor, may not be modified or revoked.
Appears in 1 contract
Samples: Credit Agreement (Tampa Electric Co)
Notice of LC Activity. During the Commitment Increase Period, Borrower LC Obligor may from time to time request the issuance of a Letter of Credit, the extension of the expiry date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the relevant LC Issuing Bank an irrevocable written notice in the form of Exhibit C-5C-4, appropriately completed (a “Notice of LC Activity”), which specifies, among other things:
(a) the particulars of the Letter of Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased;
(b) the name of the LC Issuing Bank for such Letter of Credit;
(c) the issue date and expiration date of the Letter of Credit to be issued or extended (neither of which shall in any event be later than the then scheduled Maturity Date); and
(cd) the Stated Amount of such Letter of Credit which together with the aggregate Stated Amount of all Letters of Credit then outstanding, the aggregate amount of Reimbursement Obligations then outstanding and the aggregate principal amount of all Loans made hereunder, shall not exceed the then Total Commitments. Borrower LC Obligor shall give the Notice of LC Activity to Administrative Agent and the relevant LC Issuing Bank at least five two Banking Days before the requested date of issuance of any Letter of Credit, and at least five two Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once given by BorrowerLC Obligor, may not be modified or revoked.
Appears in 1 contract
Samples: Credit Agreement (Teco Energy Inc)