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

Procedures for Issuance of Letters of Credit. Micro Warehouse may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its address for notices specified herein an application therefor in such form as may from time to time be approved by the Issuing Lender acting reasonably, completed to the reasonable satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may reasonably request. Upon receipt of any application, the 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 Letter of Credit in such customized form as may reasonably be requested by Micro Warehouse (but in no event shall the Issuing Lender issue any Letter of Credit later than five Banking Days after 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 Lender and Micro Warehouse. the Issuing Lender shall furnish a copy of such Letter of Credit to Micro Warehouse promptly following the issuance thereof.

Procedures for Issuance of Letters of Credit. Micro Warehouse The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its address for notices specified herein an application therefor in such form as may from time to time be approved by the Issuing Lender acting reasonably, completed to the reasonable satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may reasonably request. Upon receipt of any application, the 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 requested Letter of Credit in such customized form as may reasonably be requested by Micro Warehouse the Borrower (but in no event shall the Issuing Lender issue any Letter of Credit later than five Banking Days after 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 Lender and Micro Warehousethe Borrower. the The Issuing Lender shall furnish a copy of such Letter of Credit to Micro Warehouse the Borrower promptly following the issuance thereof.