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 the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request. Upon receipt of any Application, 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 policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall 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 the Issuing

Appears in 2 contracts

Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)

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Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the an Issuing Lender issue or amend a Letter of Credit by delivering to the such Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender may request. Upon receipt of any Application, the 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 policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the such 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 IssuingBorrower. Each Issuing Lender shall furnish a copy of, or other evidence of the issuance of, such Letter of Credit to the Borrower and the Administrative Agent promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Hilfiger Tommy Corp)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request. Upon receipt of any Application, 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 policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three Business Days but no later than five 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 Issuingsuch

Appears in 1 contract

Samples: Revolving Credit Agreement (Grand Union Co /De/)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the an Issuing Lender issue a Letter of Credit by delivering to the such Issuing Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender may request. Upon receipt of any Application, the an 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 policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the any 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 IssuingBorrower. Each Issuing Lender shall

Appears in 1 contract

Samples: Credit Agreement (Cumulus Media Inc)

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Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the Issuing Lender Issuer issue a Letter of Credit by delivering to the Issuing Lender Issuer at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing LenderIssuer, and such other certificates, documents and other papers and information as the Issuing Lender Issuer may request. Upon receipt of any Application, the Issuing Lender Issuer will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender Issuer 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 IssuingIssuer and the Borrower. The Issuer shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. The Issuer shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the issuance of each Letter of Credit (including the amount thereof).

Appears in 1 contract

Samples: Credit Agreement (Albany Molecular Research Inc)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the an Issuing Lender issue a Letter of Credit by delivering to the such Issuing Lender at its address for notices specified herein set forth in its Issuing Lender Agreement an Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender may request. Upon receipt of any Application, the 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 policies and procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the 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 the Issuingsuch Issuing Lender and the

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

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