Common use of Procedure for Issuance of Letter of Credit Clause in Contracts

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that an Issuing Lender issue a Letter of Credit by delivering to such Issuing Lender at its address set forth in its Issuing Lender Agreement an Application therefor, completed to the satisfaction of such Issuing Lender, and such other certificates, documents and other papers and information as such Issuing Lender may request. Upon receipt of any Application, such Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall an Issuing Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Issuing Lender and the

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

AutoNDA by SimpleDocs

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that an the L/C Issuing Lender Bank issue a Letter of Credit Commercial L/C or Standby L/C for its account by delivering to such the L/C Issuing Lender Bank at its address set forth in its Issuing Lender Agreement for notices specified herein an Application therefor, completed to the satisfaction of such the L/C Issuing LenderBank, and such other certificates, documents and other papers and information as such the L/C Issuing Lender Bank may reasonably request. Upon receipt of any Application, such the L/C Issuing Lender Bank will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall endeavor to promptly issue the Letter of Credit requested thereby (but in no event shall an the L/C Issuing Lender Bank be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the L/C Issuing Bank and the Borrower. The L/C Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. The L/C Issuing Lender Bank shall promptly notify the Agent of the issuance, extension or amendment of Letters of Credit and theany drawings or other payments under Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Sears Canada Inc.)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that an the Issuing Lender issue a Letter of Credit by delivering to such the Issuing Lender at its address set forth for notices specified in its Issuing Lender Agreement accordance with subsection 10.2(c) an Application therefor, completed to the reasonable satisfaction of such the Issuing Lender, and such other certificates, documents and other papers and information as such the Issuing Lender may reasonably request. Upon receipt of any Application, such the Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall an the Issuing Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such the Issuing Lender and thethe Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. 3.3

Appears in 1 contract

Samples: Credit Agreement (CSC Parent Corp)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that an the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender and the Administrative Agent at their respective addresses for notices specified herein (or to such other address provided by such Issuing Lender at its address set forth in its Issuing Lender Agreement Lender) an Application therefor, completed to the reasonable satisfaction of such the Issuing Lender, and such other certificates, documents and other papers and information as such the Issuing Lender may reasonably request. Upon receipt of any Application, such the Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall an the Issuing Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such the Issuing Lender and theLender

Appears in 1 contract

Samples: Delphi Corp

AutoNDA by SimpleDocs

Procedure for Issuance of Letter of Credit. The Borrower may from ------------------------------------------ time to time request that an the Issuing Lender issue a Letter of Credit by delivering to such the Issuing Lender at its address set forth in its Issuing Lender Agreement for notices specified herein an L/C Application therefor, completed to the satisfaction of such the Issuing Lender, and such other certificates, documents and other papers and information as such the Issuing Lender may request. Upon receipt of any L/C Application, such the Issuing Lender will process such L/C Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and, subject to the terms and conditions hereof, shall promptly issue the Letter of Credit requested thereby (but in no event shall an the Issuing Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the L/C Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Issuing Lender and thethe Issuing

Appears in 1 contract

Samples: Credit Agreement (Lifepoint Hospitals Inc)

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