Procedure for the Issuance of Letters of Credit. Each Borrower may from time to time request the issuance of an Acquisition Facility Letter of Credit from an Acquisition Facility Issuing Lender, a Dollar Working Capital Facility Letter of Credit from a Dollar Working Capital Facility Issuing Lender or a Multicurrency Working Capital Facility Letter of Credit from a Multicurrency Working Capital Facility Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent (in the case of Letters of Credit to be denominated in United States Dollars) or the Canadian Agent (in the case of Letters of Credit to be denominated in Canadian Dollars) a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify: (i) whether the Letter of Credit requested is to be an Acquisition Facility Letter of Credit, a Dollar Working Capital Facility Letter of Credit or a Multicurrency Working Capital Facility Letter of Credit; (ii) the maximum amount of such Letter of Credit and the account party therefor; (iii) in the case of a Multicurrency Working Capital Facility Letter of Credit, whether such Letter of Credit is to be denominated in United States Dollars or Canadian Dollars; (iv) in the case of a Working Capital Facility Letter of Credit, if such Working Capital Facility Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit; (v) in the case of an Acquisition Facility Letter of Credit, if such Letter of Credit is to be an Acquisition Facility Acquisition Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension of Credit; (vi) the requested date on which such Letter of Credit is to be issued; (vii) the purpose and nature of the proposed Letter of Credit; (viii) the name and address of the beneficiary of such Letter of Credit; (ix) the expiration or termination date of the Letter of Credit; (x) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and (xi) the delivery instructions for such Letter of Credit. If requested by the Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.
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Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement
Procedure for the Issuance of Letters of Credit. Each The Borrower may from time to time request the issuance of an Acquisition Facility Letter of Credit from an Acquisition Facility Issuing Lender, Lender or a Dollar Working Capital Facility Letter of Credit from a Dollar Working Capital Facility Issuing Lender or a Multicurrency Working Capital Facility Letter of Credit from a Multicurrency Working Capital Facility Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent (in the case of Letters of Credit to be denominated in United States Dollars) or the Canadian Agent (in the case of Letters of Credit to be denominated in Canadian Dollars) a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify:
(i) whether the Letter of Credit requested is to be an Acquisition Facility Letter of Credit, a Dollar Working Capital Facility Letter of Credit or a Multicurrency Working Capital Facility Letter of Credit;
(ii) the maximum amount of such Letter of Credit and the account party therefor;
(iii) in the case of a Multicurrency Working Capital Facility Letter of Credit, whether such Letter of Credit is to be denominated in United States Dollars or Canadian Dollars;
(iv) in the case of a Working Capital Facility Letter of Credit, if such Working Capital Facility Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit;
(viv) in the case of an Acquisition Facility Letter of Credit, if such Letter of Credit is to be an Acquisition Facility Acquisition Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension of Credit;
(viv) the requested date on which such Letter of Credit is to be issued;
(viivi) the purpose and nature of the proposed Letter of Credit;
(viiivii) the name and address of the beneficiary of such Letter of Credit;
(ixviii) the expiration or termination date of the Letter of Credit;
(xix) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and
(xix) the delivery instructions for such Letter of Credit. If requested by the Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.
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Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)
Procedure for the Issuance of Letters of Credit. Each Borrower may from from(a) time to time request the issuance of an Acquisition Facility Letter of Credit from an Acquisition Facility Issuing Lender, a Dollar Working Capital Facility Committed Tranche Letter of Credit from a Dollar Working Capital Facility Committed Tranche Issuing Lender, a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit from a Dollar Working Capital Facility Uncommitted Tranche Issuing Lender or a Multicurrency Working Capital Facility Letter of Credit from a Multicurrency Working Capital Facility Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent (in the case of Letters of Credit to be denominated in United States Dollars) or the Canadian Agent (in the case of Letters of Credit to be denominated in Canadian Dollars) a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify:
(i) : whether the Letter of Credit requested is to be an Acquisition Facility Facility(i) Letter of Credit, a Dollar Working Capital Facility Committed Tranche Letter of Credit, Dollar Working Capital Facility Uncommitted Tranche Letter of Credit or a Multicurrency Working Capital Facility Letter of Credit;
(ii) ; the maximum amount of such Letter of Credit and the account party party(ii) therefor;
(iii) ; in the case of a Multicurrency Working Capital Facility Letter of Credit, Credit,(iii) whether such Letter of Credit is to be denominated in United States Dollars or Canadian Dollars;
(iv) ; in the case of a Working Capital Facility Letter of Credit, if such Working Working(iv) Capital Facility Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit;
(v) ; in the case of an Acquisition Facility Letter of Credit, (A) if such Letter of of(v) Credit is to be an Acquisition Facility Acquisition Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension of Credit;
, (viB) if such Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit and (C) if such Letter of Credit is an Acquisition Facility Transportation Letter of Credit; the requested date on which such Letter of Credit is to be issued;
(viiissued;(vi) the purpose and nature of the proposed Letter of Credit;
(viiiCredit;(vii) the name and address of the beneficiary of such Letter of Credit;
(ix) the expiration or termination date of the Letter of Credit;
(x) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and
(xi) the delivery instructions for such Letter of Credit. If requested by the Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.USActive 56005294.956005294.16-133-
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Procedure for the Issuance of Letters of Credit. Each Borrower may from time to time request the issuance of an Acquisition Facility Letter of Credit from an Acquisition Facility Issuing Lender, a Dollar Working Capital Facility Committed Tranche Letter of Credit from a Dollar Working Capital Facility Committed Tranche Issuing Lender, a Dollar Working Capital Facility Uncommitted Tranche Letter of Credit from a Dollar Working Capital Facility Uncommitted Tranche Issuing Lender or a Multicurrency Working Capital Facility Letter of Credit from a Multicurrency Working Capital Facility Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent (in the case of Letters of Credit to be denominated in United States Dollars) or the Canadian Agent (in the case of Letters of Credit to be denominated in Canadian Dollars) a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify:
(i) whether the Letter of Credit requested is to be an Acquisition Facility Letter of Credit, a Dollar Working Capital Facility Committed Tranche Letter of Credit, Dollar Working Capital Facility Uncommitted Tranche Letter of Credit or a Multicurrency Working Capital Facility Letter of Credit;
(ii) the maximum amount of such Letter of Credit and the account party therefor;
(iii) in the case of a Multicurrency Working Capital Facility Letter of Credit, whether such Letter of Credit is to be denominated in United States Dollars or Canadian Dollars;
(iv) in the case of a Working Capital Facility Letter of Credit, if such Working Capital Facility Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit;
(v) in the case of an Acquisition Facility Letter of Credit, (A) if such Letter of Credit is to be an Acquisition Facility Acquisition Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension of Credit, (B) if such Letter of Credit is a Performance Letter of Credit, a Long Tenor Letter of Credit and/or a Trade Letter of Credit and (C) if such Letter of Credit is an Acquisition Facility Transportation Letter of Credit;
(vi) the requested date on which such Letter of Credit is to be issued;
(vii) the purpose and nature of the proposed Letter of Credit;
(viii) the name and address of the beneficiary of such Letter of Credit;
(ix) the expiration or termination date of the Letter of Credit;
(x) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and
(xi) the delivery instructions for such Letter of Credit. If requested by the Issuing Lender, the applicable Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect. Notwithstanding anything herein to the contrary, no Issuing Lender shall be obligated to issue or consider issuing any Letter of Credit if, after giving effect to the issuance of such Letter of Credit, the aggregate amount of outstanding L/C Obligations attributable to Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender’s Issuance Cap; provided, that subject to the terms and conditions hereof, each Issuing Lender may issue or consider issuing Letters of Credit on a discretionary basis during such time as the aggregate amount of outstanding L/C Obligations attributable to Letters of Credit issued by such Issuing Lender exceed such Issuing Lender’s Issuance Cap, but the Issuing Lender shall have no obligation to do so.
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