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

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

Appears in 9 contracts

Samples: Credit Agreement (Core Mark International Inc), Credit Agreement (Conectiv Inc), Credit Agreement (Recoton Corp)

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Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank 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 by the Issuing Bank Lender and the Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 9 contracts

Samples: Credit Agreement (Universal Hospital Services Inc), Credit Agreement (Smith Corona Corp), Credit Agreement (Promedco Management Co)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Bank, and such other certificates, documents and other papers and information as the Issuing Bank may request. Upon receipt of any Application, the Issuing 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 promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Bank be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating theretothereof) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Bank and the Borrower. The Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower and the other Banks promptly following the issuance thereof.

Appears in 3 contracts

Samples: Credit Agreement (Outsource International Inc), Credit Agreement (Outsource International Inc), Credit Agreement (Outsource International Inc)

Procedure for Issuance of Letters of Credit. The Borrower Borrowers may from time to time request that the Issuing Bank Lender issue a Letter of Credit for the account of a Borrower by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request, including the name of the Borrower that is the applicant. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank 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 Bank Lender and the applicant Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the applicant Borrower promptly following the issuance thereof.

Appears in 2 contracts

Samples: Credit Agreement (Rightside Group, Ltd.), Credit Agreement (Rightside Group, Ltd.)

Procedure for Issuance of Letters of Credit. The Each Borrower may from time to time may request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank 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 by the Issuing Bank Lender and the Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Impath Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank Lender be required to issue any Letter of Credit earlier than three (3) 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 by the Issuing Bank Lender and the Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Centennial Technologies Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein Lender an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank will Lender shall 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 shall, subject to Section 2.1 and Article IV hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Bank 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 by the Issuing Bank Lender and the Borrower. The Issuing Bank Lender shall furnish to the Borrower a copy of such Letter of Credit to the Borrower promptly following the issuance thereofof such Letter of Credit.

Appears in 1 contract

Samples: Letter of Credit Facility Agreement (Corrections Corporation of America)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Bank, and such other certificates, documents and other papers and information as the Issuing Bank may request. Upon receipt of any Application, the Issuing 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 promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Bank be required to issue any Letter of Credit earlier than three [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 by the Issuing Bank and the Borrower. The Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Diversified Food Group Inc)

Procedure for Issuance of Letters of Credit. The Borrower Cross Media may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank will Lender shall 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 the Issuing Bank 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 by the Issuing Bank Lender and the BorrowerCross Media. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower Borrowers promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Cross Media Marketing Corp)

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Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Bank, and such other certificates, documents and other papers and information as the Issuing Bank may reasonably request. Upon receipt of any Application, the Issuing 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 promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Bank be required to issue any Letter of Credit earlier than three Business Banking 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 by the Issuing Bank and the Borrower. The Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower and the Administrative Agent promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Urban Shopping Centers Inc)

Procedure for Issuance of Letters of Credit. The Borrower Company may from time to time request that the Issuing Bank issue a Letter of Credit by delivering to the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Bank, and such other certificates, documents and other papers and information as the Issuing Bank may request. Upon receipt of any Application, the Issuing 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 promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing 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 theretothereof) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Bank and the Borrower. The Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.by

Appears in 1 contract

Samples: Credit Agreement (Dairy Mart Convenience Stores Inc)

Procedure for Issuance of Letters of Credit. The Borrower HCC may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may reasonably request. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank 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 by the Issuing Bank Lender and the BorrowerHCC. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower HCC promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Hanover Compressor Co)

Procedure for Issuance of Letters of Credit. The Any Borrower may from ------------------------------------------- time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank 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 the Issuing Bank Lender be required to issue any Letter of Credit earlier than three five (5) 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 by the Issuing Bank Lender and the such Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 1 contract

Samples: Commercial Loan Agreement (Boston Biomedica Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Bank Lender issue a Letter of Credit by delivering to the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing BankLender, and such other certificates, documents and other papers and information as the Issuing Bank Lender may request. Upon receipt of any Application, the Issuing Bank will Lender shall 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 the Issuing Bank 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 by the Issuing Bank Lender and the Borrower. The Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof.

Appears in 1 contract

Samples: Credit Agreement (Kroll Inc)

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