Procedure for Issuance. Prior to the issuance of each Letter of Credit, and as a condition of such issuance, including, without limitation any Cash Collateralized Letter of Credit or Post-Termination Letter of Credit, Borrowers shall deliver to the Issuing Lender (with a copy to Agent) a Master Letter of Credit Agreement signed by the Borrowers, together with such other documents or items as may be required pursuant to the terms thereof, and the proposed form and content of such Letter of Credit shall be reasonably satisfactory to the Issuing Lender. Except as provided in Section 2.13(B), each Letter of Credit shall be issued no earlier than two (2) Business Days after delivery of the foregoing documents, which delivery may be by Borrowers to the Issuing Lender by facsimile transmission, telex or other electronic means followed by delivery of executed originals within five days thereafter. The documents so delivered shall be in compliance with the requirements set forth in Section 2.13(A) or Section 2.13(B), as the case may be, and shall specify therein (i) the stated amount of the Letter of Credit requested, (ii) the effective date of issuance of such requested Letter of Credit, which shall be a Business Day, (iii) the date on which such requested Letter of Credit is to expire, (iv) the entity for whose benefit the requested Letter of Credit is to be issued, which shall be a Borrower, (v) the aggregate amount of Letter of Credit Obligations which are outstanding and which will be outstanding after giving effect to the requested Letter of Credit issuance and (vi) that the requested Letter of Credit is to be a Cash Collateralized Letter of Credit, if applicable. The delivery of the foregoing documents and information shall constitute an “Issuance Request” for purposes of this Agreement. Subject to the terms and conditions of Section 2.13(A) or Section 2.13(B), as the case may be, and provided that the applicable conditions set forth in Section 2.11 hereof have been satisfied, the Issuing Lender shall, on the requested date, issue a Letter of Credit on behalf of Borrowers in accordance with the Issuing Lender’s usual and customary business practices. In addition, any amendment of an existing Letter of Credit shall be deemed to be an issuance of a new Letter of Credit and shall be subject to the requirements set forth above. The Issuing Lender shall give Agent prompt written notice of the issuance of any Letter of Credit.
Procedure for Issuance. 11 Section 2.03 Conditions Precedent to Effectiveness....................12 Section 2.04 Fees.....................................................14
Procedure for Issuance. Borrower shall give Agent at least three (3) Business Days' irrevocable prior notice (effective upon receipt) specifying the Business Day (which shall be no later than thirty (30) days preceding the Maturity Date) each Letter of Credit is to be issued and describing in reasonable detail the proposed terms of such Letter of Credit (including its beneficiary) and the nature of the transactions or obligations proposed to be supported. Borrower shall be the account party for each Letter of Credit, including Letters of Credit issuable to a beneficiary having a claim or potential claim against a Subsidiary of Borrower.
Procedure for Issuance. Not later than 5:00 p.m. on the last day of the Offering Period the Trust shall deliver to the Insurer a notice specifying the expected Inception Date. On the Inception Date, the Trust shall deliver to the Insurer a notice showing the following, in each case as of the close of business on the Business Day immediately prior to the Inception Date: (i) the NAV for each Class of Shares, and (ii) the number of issued and outstanding shares of each Class of Shares. The notice also shall certify that the conditions precedent in Sections 2.03(b)(i) and (ii) have been satisfied. The Insurer shall promptly (and in any event on the Inception Date) issue and deliver the Policy to the Custodian.
Procedure for Issuance. In order to effect the issuance of each Letter of Credit, the Company shall deliver to the Agent (which delivery may be by facsimile transmission) a letter of credit application in substantially the form attached hereto as Exhibit O (the "Letter of Credit Application") not later than 10:00 A.M., Houston time, two (2) Business Days prior to the proposed date of issuance of the Letter of Credit. The letter of credit application shall be duly executed by a Responsible Officer of the Company, shall be irrevocable and shall (i) specify the day on which such Letter of Credit is to be issued (which shall be a Business Day), and (ii) set forth calculations evidencing availability for the Letter of Credit, as required pursuant to Section 4.1 hereof; provided that, in no event shall the Letter of Credit have an expiry date on or after a date which occurs (A) more than twelve (12) months after its date of issuance or (B) later than ten (10) days prior to the Termination Date.
Procedure for Issuance. 30 2.18.5 Nature of the Lenders' Obligations........................... 30 2.18.6 Facility Letter of Credit Fees............................... 31
Procedure for Issuance. (a) Not later than the third Business Day prior to the last day of the Offering Period the Trust shall deliver to the Insurer a notice specifying the expected Inception Date. The Adviser may, in its sole discretion, specify in such notice that the expected Inception Date shall be delayed for up to ten calendar days following the end of the Offering Period. At any time prior to 9:00 a.m. on the Business Day prior to such expected Inception Date, the Adviser may notify the Insurer in writing that the Adviser elects to further delay the Inception Date due to the occurrence of unforeseen national security, political or economic events that are adversely affecting the yield on U.S. Treasury Securities. The Adviser may elect to so further delay the Inception Date to a date no later than July 31, 2003. In the event of such a further delay in the Inception Date (i) the Adviser shall deliver to the Insurer a revised notice specifying the Inception Date not less than three Business Days prior to such revised Inception Date, and (ii) the revised Inception Date shall not be later than July 31, 2003. On the Inception Date, the Trust shall deliver to the Insurer a notice and certification (the "INCEPTION DATE CERTIFICATION") of the following, in each case as of the close of business on the Transition Date: (i) the NAV for each Class of Shares, (ii) the number of issued and outstanding Shares of each Class of Shares, and, (iii) the Return Multiplier for each Class of Shares. The notice also shall certify that no Trigger Event shall have occurred, and (ii) each of the representations and warranties made by the Trust in this Agreement shall be true and correct in all material respects on and as of such date.
(b) The Inception Date Certification may include a statement that the number of issued and outstanding shares of each Class of Shares may be adjusted in the ordinary course of business due to trade corrections in the first 45 calendar days following the Inception Date. If such a statement is included in the Inception Date Certification then the Trust shall deliver a notice and certification at the end of such 45 calendar day period specifying the corrected number of issued and outstanding shares of each class of shares as of the Inception Date. In no event shall the Inception Date Guarantee Amount be increased from the amount calculated based on the information specified in the original Inception Date Certification without the prior written consent of the Insurer.
(c) ...
Procedure for Issuance. Subject to the terms and conditions of this Section 2.4(d) and the following sentence, the relevant Issuer shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuer's usual and customary business practices. No Issuer shall issue any Letter of Credit in the period commencing on the first Business Day after it receives written notice from any Lender that one or more of the conditions precedent contained in Section 3.2 (Conditions Precedent to Each Loan and Letter of Credit) shall not on such date be satisfied and ending when such conditions are satisfied. The relevant Issuer shall not otherwise be required to determine that, or take notice whether, the conditions precedent set forth in Section 3.2 have been satisfied in connection with the issuance of any Letter of Credit.
Procedure for Issuance. Not later than three Business Days prior to the last day of the Offering Period, the Fund shall deliver to the Warranty Provider a notice specifying the expected Inception Date and the projected amount of the Financial Warranty (which shall be in the amount of the Aggregate Protected Amount as of the close of business on the Transition Date and shall not exceed the Financial Warranty Amount Limit). Prior to 11:00 a.m. (Eastern time) on the Inception Date, the Fund shall deliver to the Warranty Provider a notice showing the following, in each case as of the close of business on the Transition Date:
(i) the NAV Per Share for each Class of Shares, and (ii) the Shares Outstanding of each Class of Shares. The notice also shall certify that the conditions precedent in SECTIONS 2.3(B)(I) through and including (VI) and 2.3(C) have been satisfied. Upon receipt of such notice and the fulfillment of the applicable conditions set forth in SECTION 2.3 hereof, the Warranty Provider will issue the Financial Warranty to the Fund in the amount specified in the parenthetical in the first sentence of this SECTION 2.2 (the "ISSUED FINANCIAL WARRANTY AMOUNT"). The Warranty Provider shall not incur any obligation or liability hereunder or under any transaction contemplated by any other Transaction Document during the Offering Period.
Procedure for Issuance. MPF shall notify BANA of the projected amount of the Xxxxxxx Xxxxx Financial Warranty promptly after receipt of the notice specifying such amount under Section 2.2 of the Xxxxxxx Xxxxx Financial Warranty Agreement. MPF shall further notify BANA of the issuance by MPF of the Xxxxxxx Xxxxx Financial Warranty and the amount thereof, and upon receipt of such notice (the "Issuance Date"), BANA will issue the BANA Financial Warranty to MPF in an amount equal to the Issued BANA Financial Warranty Amount. BANA shall not incur any obligation or liability hereunder prior to the issuance of the BANA Financial Warranty.
