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

Procedure for Issuance of Multicurrency Letters of Credit. The Borrower or any Foreign Borrower, may from time to time request that a Multicurrency Issuing Lender issue a Multicurrency Letter of Credit by delivering to such Multicurrency Issuing Lender, with a copy to the Administrative Agent, at their addresses for notices specified herein an Application therefor, completed to the satisfaction of such Multicurrency Issuing Lender, and such other certificates, documents and other papers and information as such Multicurrency Issuing Lender may request. Upon receipt of any Application, a Multicurrency 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 Multicurrency Letter of Credit requested thereby by issuing the original of such Multicurrency Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Multicurrency Issuing Lender and the Borrower or any Foreign Borrower, (but in no event shall any Multicurrency Issuing Lender be required to issue any Multicurrency 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). Promptly after issuance by a Multicurrency Issuing Lender of a Multicurrency Letter of Credit, such Multicurrency Issuing Lender shall furnish a copy of such Multicurrency Letter of Credit to the Borrower or any Foreign Borrower, and the Administrative Agent. Each Multicurrency Issuing Lender shall promptly give notice to the Administrative Agent of the issuance of each Multicurrency Letter of Credit issued by such Multicurrency Issuing Lender (including the amount and currency thereof).

Procedure for Issuance of Multicurrency Letters of Credit. The Borrower or any Foreign Borrower, may from time to time request that a Multicurrency Issuing Lender issue a Multicurrency Letter of Credit by delivering to such Multicurrency Issuing Lender, with a copy to the Administrative Agent, at their addresses for notices specified herein an Application therefor, completed to the satisfaction of such Multicurrency Issuing Lender, and such other certificates, documents and other papers and information as such Multicurrency Issuing Lender may request. Upon receipt of any Application, a Multicurrency 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 Multicurrency Letter of Credit requested thereby by issuing the original of such Multicurrency Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Multicurrency Issuing Lender and the Borrower or any Foreign Borrower, Borrower (but in no event shall any Multicurrency Issuing Lender be required to issue any Multicurrency 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). Promptly after issuance (or amendment, modification or renewal) by a Multicurrency Issuing Lender of a Multicurrency Letter of Credit, such Multicurrency Issuing Lender shall furnish a copy of such Multicurrency Letter of Credit (or such amended, modified or renewed Multicurrency Letter of Credit) to the Borrower or any Foreign Borrower, and the Administrative Agent. Each Multicurrency Issuing Lender shall promptly give notice to the Administrative Agent of the issuance (or amendment, modification or renewal) of each Multicurrency Letter of Credit issued by such Multicurrency Issuing Lender (including the amount and currency thereof). In addition, no Issuing Lender shall be required to issue any Letter of Credit if, after giving effect to such issuance, the aggregate amount of such Issuing Lender’s Letters of Credit exceed such Issuing Lender’s agreed Letter of Credit sublimit for the applicable Facility.

Procedure for Issuance of Multicurrency Letters of Credit. The Each Borrower or any Foreign Borrower, may from time to time request that a Multicurrency the Issuing Lender issue a Multicurrency Letter of Credit by delivering to such the Issuing Lender and the Multicurrency Issuing Lender, with a copy to the Administrative Agent, Agent at their addresses respective address for notices specified herein an herein, a Trade L/C Application thereforor a Standby L/C Application, completed to the satisfaction of such Multicurrency the Issuing Lender, and such other certificates, documents and other papers and information as such Multicurrency may be customary for letters of credit of the kind being requested and as the Issuing Lender may reasonably request. Upon receipt of any ApplicationLetter of Credit Application and other appropriate documentation, a Multicurrency the Issuing Lender will process such Application and the certificatesdocuments, documents certificates and other papers and information delivered to it in connection therewith in accordance with its customary procedures and and, upon receipt by the Issuing Lender of confirmation from the Multicurrency Administrative Agent that issuance of such Multicurrency Letter of Credit will not contravene this Agreement, the Issuing Lender shall promptly issue the Multicurrency Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the appropriate documentation therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Multicurrency Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by such Multicurrency the Issuing Lender and the Borrower or any Foreign relevant Borrower, (but in no event shall any Multicurrency Issuing Lender be required to issue any Multicurrency 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). Promptly after issuance by a Multicurrency Issuing Lender of a Multicurrency Letter of Credit, such Multicurrency The Issuing Lender shall furnish a copy of such Multicurrency Letter of Credit to the relevant Borrower or any Foreign Borrower, and the Administrative Agent. Each Multicurrency Issuing Lender shall promptly give notice to the Administrative Agent of promptly following the issuance of each Multicurrency Letter of Credit issued by such Multicurrency Issuing Lender (including the amount and currency thereof).