Common use of Procedure for Issuance and Renewal of Letters of Credit Clause in Contracts

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Fronted Letter of Credit pursuant to Section 3.9 by delivering a notice to the Agent pursuant to Section 3.4(e) and by delivering to a Fronting Lender at such Fronting Lender's Branch of Account a letter of credit application and indemnity in such Fronting Lender's then customary form (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict.

Appears in 2 contracts

Samples: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp)

AutoNDA by SimpleDocs

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting the Issuing Lender issue a Fronted Letter of Credit pursuant to Section 3.9 by delivering a notice to the Agent pursuant to Section 3.4(e) and by delivering to a Fronting the Issuing Lender at such Fronting the Issuing Lender's ’s Branch of Account a letter of credit application and indemnity in such Fronting the Issuing Lender's ’s then customary form (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting the Issuing Lender together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting the Issuing Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict.

Appears in 2 contracts

Samples: Credit Agreement (Pengrowth Energy Trust), Credit Agreement (Pengrowth Energy Trust)

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Fronted Letter of Credit pursuant to Section 3.9 by delivering a notice to the Agent pursuant to Section 3.4(e3.6(e) and by delivering to a such Fronting Lender at such Fronting Lender's ’s Branch of Account a letter of credit application and indemnity in on such Fronting Lender's ’s then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender Lender, acting reasonably, together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict.

Appears in 1 contract

Samples: Credit Agreement (Precision Diversified Oilfield Services Corp.)

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Fronted Letter of Credit pursuant to Section 3.9 3.8 by delivering a notice to the Agent pursuant to Section 3.4(e) and by delivering to a Fronting Lender at such Fronting Lender's Branch of Account a letter of credit application and indemnity in such Fronting Lender's then customary form (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict.

Appears in 1 contract

Samples: Credit Agreement (PENGROWTH ENERGY Corp)

AutoNDA by SimpleDocs

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Fronted Letter of Credit pursuant to Section 3.9 by delivering a notice to the Agent pursuant to Section 3.4(e3.7(e) and by delivering to a such Fronting Lender at such Fronting Lender's Branch of Account a letter of credit application and indemnity in on such Fronting Lender's then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender Lender, acting reasonably, together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict.

Appears in 1 contract

Samples: Credit Agreement (PRECISION DRILLING Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.