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 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, and such other certificates, documents and other papers and information as such 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 any Issuing Bank be required to issue any Letter of Credit earlier than two 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 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 to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 9 contracts

Samples: Credit Agreement (Centerpoint Energy Houston Electric LLC), Credit Agreement (Centerpoint Energy Inc), Credit Agreement (Centerpoint Energy Houston Electric LLC)

AutoNDA by SimpleDocs

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that an the Issuing Bank issue a Letter of Credit by delivering to such the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of such the Issuing Bank, and such other certificates, documents and other papers and information as such 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 any the Issuing Bank be required to issue any Letter of Credit earlier than two 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 in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank and the Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 2 contracts

Samples: Credit Agreement (Houston Industries Inc), Senior a Credit Agreement (Reliant Energy Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that an the Issuing Bank issue a Letter of Credit by delivering to such the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of such the Issuing Bank, and such other certificates, documents and other papers and information as such 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 any the Issuing Bank be required to issue any Letter of Credit earlier than two 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 in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank and Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Centerpoint Energy Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that an the Issuing Bank issue a Letter of Credit by delivering to such the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of such the Issuing Bank, and such other certificates, documents and other papers and information as such 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 any the Issuing Bank be required to issue any Letter of Credit earlier than two 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 in a form satisfactory to the Borrower to the beneficiary thereof or as SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT otherwise may be agreed by such the Issuing Bank and the Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Gulfterra Energy Partners L P)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that an the Issuing Bank issue a Letter of Credit by delivering to such the Issuing Bank at its address for notices specified herein an Application therefor, completed to the satisfaction of such the Issuing Bank, and such other certificates, documents and other papers and information as such 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 any the Issuing Bank be required to issue any Letter of Credit earlier than two (2) 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 in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank and Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Centerpoint Energy Inc)

AutoNDA by SimpleDocs

Procedure for Issuance of Letters of Credit. The A Borrower may from time to time request that an Issuing Bank issue a Letter of Credit by delivering to such Issuing Bank (with a copy to the Applicable Agent) at its address for notices specified herein an Application therefor, completed to the satisfaction of such Issuing BankBank and such Applicable Agent, and such other certificates, documents and other papers and information as such Issuing Bank may reasonably request. Upon receipt of any Application, the such 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 any an Issuing Bank be required to issue any Letter of Credit earlier than two 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 in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such Issuing Bank and the applicable Borrower. The relevant Issuing Bank shall furnish a copy of such Letter of Credit to the applicable Borrower and to each applicable Participating Bank promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (General Chemical Group Inc)

Procedure for Issuance of Letters of Credit. The Borrower Borrowers may from time to time request that an the Issuing Bank Lender issue a Letter of Credit by delivering to such the Issuing Bank Lender at its address for notices specified herein an Application therefor, completed to the satisfaction of such the Issuing BankLender, and such other certificates, documents and other papers and information as such 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 any the Issuing Bank Lender be required to issue any Letter of Credit earlier than two 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 in a form satisfactory to the Borrower to the beneficiary thereof or as otherwise may be agreed by such the Issuing Bank Lender and Borrowerthe Borrowers. The relevant Issuing Bank Lender shall furnish a copy of such Letter of Credit to the Borrower Borrowers promptly following the issuance thereof and notify the Banks of the amount thereof.

Appears in 1 contract

Samples: Credit Agreement (Celadon Group Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!