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 an Issuing Bank (i) issue a Letter of Credit by delivering to such Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of such Issuing Bank or (ii) extend, modify or increase the amount of an existing Letter of Credit by delivering to such Issuing Bank at its address for notices specified herein a notice identifying the Letter of Credit to be extended, modified or increased, the proposed date of such extension, modification or increase, the name and address of the beneficiary thereof and such other information as shall be necessary to extend, modify or increase such Letter of Credit. Upon receipt of any Application or a request for an extension, modification or increase of an existing Letter of Credit, the Issuing Bank will process such Application or request and shall promptly issue the Letter of Credit (or an amendment to such existing Letter of Credit, as applicable) requested thereby (but in no event shall any Issuing Bank be required to issue any Letter of Credit (or extension, modification or increase of an existing Letter of Credit) earlier than two Business Days after its receipt of the Application or request therefor, as applicable) by issuing the original of such Letter of Credit (or amendment thereof, as applicable) in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such Issuing Bank and Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit (or amendment thereof, as applicable) to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the Application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

Procedure for Issuance of Letters of Credit. The Administrative Borrower may from time to time after the Closing Date request that an the Issuing Bank (i) Lender issue a Letter of Credit by delivering to such the Issuing Bank Lender at its address for notices specified herein the Administrative Agent’s Office a written request and an Application therefor, completed to the satisfaction of the Issuing Lender. Each request for the issuance of a Letter of Credit, or the amendment, renewal, or extension of any outstanding Letter of Credit, shall be made in writing by the Administrative Borrower and delivered to Issuing Lender via hand delivery, telefacsimile, or other electronic method of transmission reasonably in advance of the requested date of issuance, amendment, renewal, or extension. Each such request shall be in form and substance reasonably satisfactory to Issuing Bank or Lender and (iii) extend, modify or increase shall specify (A) the amount of an existing such Letter of Credit by delivering to Credit, (B) the date of issuance, amendment, renewal, or extension of such Issuing Bank at its address for notices specified herein a notice identifying the Letter of Credit to be extendedCredit, modified or increased, (C) the proposed expiration date of such extensionLetter of Credit, modification or increase, (D) the name and address of the beneficiary thereof of the Letter of Credit, and (E) such other information (including, the conditions to drawing, and, in the case of an amendment, renewal, or extension, identification of the Letter of Credit to be so amended, renewed, or extended) as shall be necessary to extendprepare, modify amend, renew, or increase extend such Letter of Credit, and (ii) shall be accompanied by such Issuer Documents as Administrative Agent or Issuing Lender may request or require, to the extent that such requests or requirements are consistent with the Issuer Documents that Issuing Lender generally requests for Letters of Credit in similar circumstances. Anything contained herein to the contrary notwithstanding, Issuing Lender may, but shall not be obligated to, issue or cause the issuance of a Letter of Credit that supports the obligations of Borrowers or one of their Subsidiaries in respect of (A) a lease of real property, or (B) an employment contract. Upon receipt of any Application or a written request for an extension, modification or increase the issuance of an existing a Letter of CreditCredit and Application, the Issuing Bank will Lender shall process such Application or request and shall other Issuer Documents in connection therewith in accordance with its customary procedures and shall, subject to Section 3.1 and Article 7, promptly issue the Letter of Credit (or an amendment to such existing Letter of Credit, as applicable) requested thereby (but in no event shall any the Issuing Bank Lender be required to issue any Letter of Credit (or extension, modification or increase of an existing Letter of Credit) earlier than two three (3) Business Days after its receipt of the Application or request therefortherefor and all such other certificates, as applicabledocuments and other papers and information relating thereto) by issuing the original of such Letter of Credit (or amendment thereof, as applicable) in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank Lender and the Administrative Borrower. The relevant Issuing Bank Lender shall promptly furnish to the Administrative Borrower a copy of such Letter of Credit (and promptly notify each Lender of the issuance and, upon request by any Lender, furnish to such Lender a copy of such Letter of Credit and the amount of such Lender’s Letter of Credit participation therein. The Issuing Lender, if other than Xxxxx Fargo Bank or amendment thereofany of its Affiliates, as applicable) to shall also notify Administrative Agent in writing no later than the Borrower promptly Business Day immediately following the issuance thereof and notify the Banks of the amount thereof. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the Application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Business Day on which such Issuing Bank relating to Lender issued any Letter of Credit; provided that (i) until Administrative Agent advises any such Issuing Lender that the provisions of Section 7.2 are not satisfied, or (ii) unless the terms aggregate amount of the Letters of Credit issued in any such week exceeds such amount as shall be agreed by Administrative Agent and conditions such Issuing Lender, such Issuing Lender shall be required to so notify Administrative Agent in writing only once each week of this Agreement shall controlthe Letters of Credit issued by such Issuing Lender during the immediately preceding week as well as the daily amounts outstanding for the prior week, such notice to be furnished on such day of the week as Administrative Agent and such Issuing Lender may agree.

Procedure for Issuance of Letters of Credit. The (a) Prior to the issuance of each Letter of Credit, and as a condition of such issuance, the Borrower may from time shall deliver to time request that an the Issuing Bank (with a copy to the Administrative Agent) an L/C Application signed by the Borrower, together with such other documents or items as may be required pursuant to the terms thereof. Unless the Issuing Bank shall otherwise agree, 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 the Borrower to the Issuing Bank by facsimile transmission, telex or other electronic means followed by delivery of executed originals within five (5) days thereafter. The documents so delivered shall be in compliance with the requirements set forth in Sections 4.02 and 4.03, 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, which shall be a Business Day not later than five (5) Business Days prior to the Termination Date and (iv) the aggregate amount of L/C Obligations which are outstanding and which will be outstanding after giving effect to the requested Letter of Credit issuance. Subject to the terms and conditions of Sections 4.02 and 4.03, and provided that the applicable conditions set forth in Sections 6.01 and 6.02 shall, to the knowledge of the Issuing Bank, have been satisfied, the Issuing Bank shall, on the requested date, issue a Letter of Credit by delivering to such on behalf of the Borrower in accordance with the Issuing Bank at its address for notices specified herein an Application thereforBank’s usual and customary business practices. In addition, completed to the satisfaction of such Issuing Bank or (ii) extend, modify or increase the amount any amendment of an existing Letter of Credit by delivering that has the effect of increasing the face amount thereof or extending the expiration date thereof shall be deemed to such Issuing Bank at its address for notices specified herein be an issuance of a notice identifying the new Letter of Credit to be extended, modified or increased, the proposed date of such extension, modification or increase, the name and address of the beneficiary thereof and such other information as shall be necessary to extend, modify or increase such Letter of Credit. Upon receipt of any Application or a request for an extension, modification or increase of an existing Letter of Credit, the Issuing Bank will process such Application or request and shall promptly issue the Letter of Credit (or an amendment to such existing Letter of Credit, as applicable) requested thereby (but in no event shall any Issuing Bank be required to issue any Letter of Credit (or extension, modification or increase of an existing Letter of Credit) earlier than two Business Days after its receipt of the Application or request therefor, as applicable) by issuing the original of such Letter of Credit (or amendment thereof, as applicable) in a form satisfactory subject to the Borrower to the beneficiary thereof or as otherwise may be agreed by such Issuing Bank and Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit (or amendment thereof, as applicable) to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof. In the event of any inconsistency between the terms and conditions requirements of this Agreement and the terms and conditions of the Application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall controlSection 4.04.

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that an the Issuing Bank (i) issue Lender issue, amend, renew or extend a Letter of Credit by delivering to such the Issuing Bank Lender at its address for notices specified herein an the Administrative Agent’s Office a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such Issuing Bank or (ii) extendother certificates, modify or increase the amount of an existing documents and other Letter of Credit by delivering to Documents and information as the Issuing Lender or the Administrative Agent may request, not later than 11:00 a.m. at least two (2) Business Days (or such later date and time as the Administrative Agent and such Issuing Bank at its address for notices specified herein a notice identifying the Letter of Credit Lender may agree in their sole discretion) prior to be extended, modified or increased, the proposed date of such issuance, amendment, renewal or extension, modification as the case may be. Such notice shall specify (a) the requested date of issuance, amendment, renewal or increaseextension (which shall be a Business Day), (b) the date on which such Letter of Credit is to expire (which shall comply with Section 3.1(b)), (c) the amount of such Letter of Credit, (d) the name and address of the beneficiary thereof thereof, (e) the purpose and nature of such Letter of Credit and (f) such other information as shall be necessary to extendissue, modify amend, renew or increase extend such Letter of Credit. Upon receipt of any Application or a request for an extension, modification or increase of an existing Letter of CreditCredit Application, the Issuing Bank will Lender shall process such Letter of Credit Application and the certificates, documents and other Letter of Credit Documents and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 3.1 and Article VI, promptly issue, amend, renew or request and shall promptly issue extend the Letter of Credit (or an amendment to such existing Letter of Credit, as applicable) requested thereby (but subject to the timing requirements set forth in no event shall any Issuing Bank be required to issue any Letter of Credit (or extension, modification or increase of an existing Letter of Credit) earlier than two Business Days after its receipt of the Application or request therefor, as applicablethis Section 3.2) by issuing the original of such Letter of Credit (or amendment thereof, as applicable) in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank Lender and the Borrower. The relevant Issuing Bank Additionally, the Borrower shall furnish to the Issuing Lender and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, renewal or extension, including any Letter of Credit Documents, as the Issuing Lender or the Administrative Agent may require. The Issuing Lender shall promptly furnish to the Borrower a copy of such Letter of Credit (or amendment thereof, as applicable) to and the Borrower related Letter of Credit Documents and promptly following notify each Lender of the issuance thereof and notify the Banks upon request by any Lender, furnish to such Lender a copy of such Letter of Credit and the amount thereof. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the Application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall controlsuch Lender’s participation therein.