Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mail), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) Business Days preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank: (i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (ii) the stated or “face” amount thereof; (iii) the expiry date thereof (which shall be determined in accordance with Section 2.18(c) below); (iv) the name and address of the beneficiary thereof; (v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiaries); (vi) the documents to be presented by such beneficiary in connection with any drawing thereunder; (vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and (viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank: (i) the Letter of Credit to be amended, renewed or extended; (ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day); (iii) the nature of the proposed amendment, renewal or extension; and (iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 5 contracts
Samples: Assumption Agreement and Amendment No. 2 (iCIMS Holding LLC), Credit Agreement (iCIMS Holding LLC), Assumption Agreement and Amendment No. 1 (iCIMS Holding LLC)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mail), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) Business Days preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall be determined in accordance with Section 2.18(c) below);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 4 contracts
Samples: Amendment Agreement (Jamf Holding Corp.), Credit Agreement (Jamf Holding Corp.), Credit Agreement (Juno Topco, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Agent shall deliver by hand, facsimile hand or other email through a “pdf” copy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City 12:00 noon Cincinnati, Ohio time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(iA) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(iiB) the stated or “face” amount thereof;
(iiiC) the expiry date thereof (which shall not be determined later than the close of business on the earlier of (x) the date which is one year after the date of the issuance of such Letter of Credit and (y) the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension; provided that such expiry date may extend beyond the Letter of Credit Expiration Date in accordance with Section 2.18(c) belowthe case of any Letter of Credit which has been backstopped or Cash Collateralized in a manner reasonably acceptable to the applicable Issuing Bank);
(ivD) the name and address of the beneficiary thereof;
(vE) whether the Letter of Credit is to shall be issued for the Borrower’s own accountbenefit of Intermediate Holdings, any Borrower or for the account one or more of one each of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted their respective Subsidiaries);
(viF) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(viiG) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viiiH) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(iA) the Letter of Credit to be amended, renewed or extended;
(iiB) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiiC) the expiry date thereof (which shall not be later than the close of business on the earlier of (x) the date which is one year after the date of the issuance of such Letter of Credit and (y) the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension);
(D) the nature of the proposed amendment, renewal or extension; and
(ivE) such other customary matters as the Issuing Bank reasonably may require. If requested by the applicable Issuing Bank, the Borrower Agent also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Agent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the amount of the LC Exposure shall not exceed the LC SublimitSublimit and the amount of the LC Exposure of each Issuing Bank shall not exceed its LC Commitment, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment Commitments and the total Revolving Exposures shall not exceed the Line Cap, (iii) the total Revolving Exposure attributable to any Class of Commitments would exceed the aggregate amount of such Commitments, (iv) in the case of any Letter of Credit which will mature but after the Maturity Date of one or more Classes of Commitments but before the Maturity Date of one or more other Classes of Commitments, the aggregate LC Exposure attributable to Letters of Credit which will mature after such Maturity Dates shall not exceed the Commitments attributable to later maturing Classes which will remain in effect after such Maturity Dates and (iiiv) the conditions set forth in Article IV Section 6.2 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)100,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, Lender thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the Dollar Equivalent amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.1(d)(iv)).
Appears in 3 contracts
Samples: Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc), Abl Credit Agreement (Cumulus Media Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended issued only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If the Issuing Bank is not the same person as the Administrative Agent, on the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 3 contracts
Samples: Credit Agreement (CSG Systems International Inc), Credit Agreement (CSG Systems International Inc), Credit Agreement (CSG Systems International Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Applicable Administrative Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailand the Funding Agent), an LC Request to the applicable Issuing Bank and the Administrative Funding Agent not later than 11:00 a.m. New York City Chicago time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount and the currency thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted other Subsidiaries of Holdings (provided that the Applicable 115 Administrative Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any another Subsidiary of the Borrower’s Wholly Owned Restricted SubsidiariesHoldings);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Applicable Administrative 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, but in the event of any inconsistency between such standard form and this Agreement, the terms of this Agreement shall control. A U.S./European Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each U.S./European Letter of Credit, the Applicable Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extensionextension and subject to the provisions of Section 10.10, (i) the U.S./European LC Exposure shall not exceed the U.S./European LC SublimitCommitment, (ii) the Total Revolving Exposure shall not exceed the lesser of (I) the Total Borrowing Base, and (II) the total Revolving Exposures Commitments, (iii) the Total U.S./European Revolving Exposure shall not exceed the Total U.S./European Commitment, (iv) the Total Adjusted Revolving Commitment Exposure shall not exceed the Total Adjusted Borrowing Base, and (iiiv) the conditions set forth in Article IV Section 4.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal . A Canadian Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Canadian Letter of Credit, the Canadian Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension and subject to the provisions of Section 10.10, (i) the Canadian LC Exposure shall not exceed the Canadian LC Commitment, (ii) the Total Revolving Exposure shall not exceed the lesser of (I) the Total Borrowing Base, and (II) the total Revolving Commitments, (iii) the Total Canadian Revolving Exposure shall not exceed the Total Canadian Commitment, (iv) the Total Adjusted Revolving Exposure shall not exceed the Total Adjusted Borrowing Base, and (v) the conditions set forth in accordance with Section 2.18(c)(ii) below4.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a 116 Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than dollars or an Approved Currency. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing Funding Agent, who shall promptly notify each U.S./European Lender (and in the case of an issuance of a new U.S./European Letter of Credit), or an increase or decrease each Canadian Lender (in the stated amount case of an existing the Canadian Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender), thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.18(e)). On the first Business Day of each calendar month, each U.S./European Issuing Bank shall provide to the Funding Agent a report listing all outstanding U.S./European Letters of Credit and the amounts and beneficiaries thereof and the Funding Agent shall promptly provide such report to each U.S./European Lender. On the first Business Day of each calendar month, each Canadian Issuing Bank shall provide to the Funding Agent a report listing all outstanding Canadian Letters of Credit and the amounts and beneficiaries thereof and the Funding Agent shall promptly provide such report to each Canadian Lender.
Appears in 2 contracts
Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis South America Holdings LLC)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or telecopier (or transmit by other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 2:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV Section 4.02 otherwise in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (10,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $50,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Credit Agreement (Mattress Firm Holding Corp.), Credit Agreement (Mattress Firm Holding Corp.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or telecopier (or transmit by other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 2:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the such Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the an Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Tranche A Revolving Exposures shall not exceed the Total total Tranche A Revolving Commitment Commitments and (iii) the conditions set forth in Article IV Section 4.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)500,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Tranche A Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also thereof and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the last Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Tranche A Revolving Lender.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Bankrate, Inc.), Revolving Credit Agreement (Bankrate, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Company shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mail), an LC Request to the Issuing Bank and Administrative Agent, for the Administrative Agent account of the Bank, (i) in the case of an amendment, renewal or extension, (A) not later than 11:00 a.m. (New York City time ten time) on the same Business Day of the requested date of amendment, renewal or extension, or (10B) on the Business Days Day immediately preceding the requested date of issuance, amendment, renewal or extension (or if such LC Request is delivered later than 11:00 a.m. (New York time)) and (ii) in the case of an issuance, (A) not later than 11:00 a.m. (New York time) on the second Business Day preceding the requested date of issuance and time as (B) on the third Business Day immediately preceding the requested date of issuance (if such LC Request is acceptable to the Issuing Bankdelivered later than 11:00 a.m. (New York time)). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall be determined in accordance comply with the requirements of Section 2.18(c) below2.02(c));
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(viivi) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viiivii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Credit Exposure (assuming, for purposes of such determination, that each Letter of Credit then in effect (after giving effect to such issuance, amendment, renewal or extension) will remain outstanding until its stated expiration date) shall not exceed the LC Sublimit, Maximum Amount and (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the applicable conditions set forth in Article IV Section 4.03 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit satisfied or waived by the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) belowBank. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit1,000,000, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by denominated in a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d))currency other than Dollars.
Appears in 2 contracts
Samples: Facility Credit Agreement (Exelon Corp), Facility Credit Agreement (Exelon Corp)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or telecopier (or transmit by other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 2:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV with respect to any Letter of Credit issued on the Closing Date and in Section 4.02 otherwise in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (10,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $50,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Credit Agreement (Mattress Firm Holding Corp.), Credit Agreement (Mattress Firm Holding Corp.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the US Borrower (or Administrative Borrower on behalf of US Borrower) shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the US Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount and the Approved Currency thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the US Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 2 contracts
Samples: Credit Agreement (SGS International, Inc.), Credit Agreement (Southern Graphic Systems, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined later than the date specified in accordance with Section 2.18(c) below));
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. In the event of any conflict between such application and this Agreement, this Agreement shall control. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV Section 4.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Credit Agreement (Regency Energy Partners LP), Credit Agreement (Regency Energy Partners LP)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver (by hand, facsimile email or other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing transmission (including via e-mail“.pdf” or “.tif”), ) an LC Request to the Issuing Bank and the Revolving Administrative Agent not later than 11:00 a.m. 1:00 p.m. (New York, New York City time ten time) three (103) Business Days preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall be determined in accordance with Section 2.18(c2.02(c) below);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, account of the Borrower or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the a co-applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Credit Commitments and (iii) the conditions set forth in Article IV Section 4.03 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 25,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Revolving Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Revolving Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.02(d)).
Appears in 2 contracts
Samples: Credit Agreement (Loar Holdings Inc.), Credit Agreement (Loar Holdings Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the applicable Borrower or the Administrative Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 1:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the such Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, Commitment; (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments; and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If the Issuing Bank is not the same Person as the Administrative Agent, on the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Revolving Syndicated Facility Agreement (Tronox LTD), Revolving Syndicated Facility Agreement (Tronox LTD)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (5,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $100,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Credit Agreement (Navisite Inc), Credit Agreement (Navisite Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit;
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to an LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Holdings’ Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Holdings’ Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; , provided, however, however that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $100,000 (or such lesser amount as approved by the Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of available to be drawn under an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of available to be drawn under an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 2 contracts
Samples: Credit Agreement (Ping Identity Holding Corp.), Credit Agreement (Roaring Fork Holding, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the applicable LC Exposure shall not exceed the applicable LC SublimitCommitment, (ii) the total applicable Revolving Exposures shall not exceed the Total total applicable Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an . Unless Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If Issuing Bank is not the same person as Administrative Agent, on the first Business Day of each calendar month, Issuing Bank shall provide to Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 2 contracts
Samples: Credit Agreement (Norcraft Companies, Inc.), Credit Agreement (Norcraft Companies Lp)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a US Letter of Credit or the amendment, renewal or extension of an outstanding US Letter of Credit, the US Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an a US LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a US Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested US Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the US Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the US Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each US Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesits Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding US Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the US Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the US Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a US Letter of Credit. A US Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each US Letter of Credit, the US Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no US Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such US Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to Issuing Bank shall promptly notify the Administrative Agent, who shall promptly notify each Revolving Lender Lender, thereof, which notice shall include be accompanied by a copy of such US Letter of Credit also or amendment, renewal, extension or modification to a US Letter of Credit and the amount of each such Revolving Lender’s respective participation in such US Letter of Credit pursuant to Section 2.18(d2.18(B)(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding US Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mail), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) Business Days preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall be determined in accordance with Section 2.18(c) below);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Samples: Credit Agreement (Blend Labs, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 1:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $100,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via eon a case-mailby-case basis), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. (New York City time ten (10time) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned its Restricted Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned a Restricted SubsidiariesSubsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Class A Revolving Exposures shall not exceed the Total total Class A Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)100,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Class A Revolving Lender, thereof), which notice shall be accompanied by a copy and of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).. On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Jacobs Entertainment Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) except in the case of any amendment that does not increase the amount of, or extend the expiry date of, a Letter of Credit, the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Company shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC L/C Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower Company shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters relating to the requested Letter of Credit as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
: (i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters relating to the Letter of Credit as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the Borrower Company 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure L/C Obligations shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving L/C Commitment and (iiiii) the conditions set forth in Article IV Section 5.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d))100,000.
Appears in 1 contract
Samples: Reimbursement Agreement (Tropicana Entertainment Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Agent shall deliver (or request via telephone, with confirmation to follow promptly in writing by facsimile) by hand, facsimile or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit,;
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, the account of Holdings, a Borrower or for the account of one of the Borrower’s Holdings’ Wholly Owned Restricted Subsidiaries (provided that the Borrower Borrowers shall be the applicant co-applicants, and therefore jointly and severally liable with respect to each Letter of Credit issued for the account of Holdings, a Borrower or any of the Borrower’s Holdings’ Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Borrower Agent 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Agent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $100,000 (or such lesser amount as approved by the Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Samples: First Lien Credit Agreement (Transfirst Holdings Corp.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) noon, Local Time, on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (Itron Inc /Wa/)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Administrative Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank in writing (including via e-mailBank), an LC Request to the relevant Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the second Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later shorter preceding date and time as is acceptable to the relevant Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, be provided and delivered by the Administrative Borrower and shall specify in form and detail reasonably satisfactory to the relevant Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or such later date acceptable to the Administrative Agent and the relevant Issuing Bank);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the such Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the relevant Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the relevant Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the relevant Issuing Bank may reasonably may require. If requested by the an Issuing Bank, the Administrative Borrower also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment Line Cap and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the relevant Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $100,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the relevant Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving LenderLexxxx’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If the Issuing Bank is not the same person as the Administrative Agent, on the first Business Day of each calendar month, each Issuing Bank shall provide to the Administrative Agent and the Administrative Borrower a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Senior Secured Revolving Credit Agreement (PBF Holding Co LLC)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via eon a case-mailby-case basis), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. (New York City time ten (10time) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned its Restricted Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned a Restricted SubsidiariesSubsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Class A-2 Revolving Exposures shall not exceed the Total total Class A-2 Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)100,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Class A-2 Revolving Lender, thereof), which notice shall be accompanied by a copy and of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof. The Administrative Agent shall promptly notify each Class A-2 Revolving Lender on the last Business Day of each quarter of the current quarter s Letter of Credit amount.
Appears in 1 contract
Samples: Second Amendment and Restatement Agreement (Jacobs Entertainment Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $100,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If the Issuing Bank is not the same person as the Administrative Agent, on the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (Ducommun Inc /De/)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other telecopier (or transmit by electronic communicationcommunication (including email), if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten on the fifth (105th) Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request Each LC Request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit;
(ii) the stated or “face” amount thereofthereof in Dollars;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to an LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Holdings’ Restricted Subsidiaries (provided that the Borrower shall be the applicant applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Holdings’ Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the applicable Issuing Bank may reasonably require. A request An LC Request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the applicable Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the aggregate stated amount of Letters of Credit issued by an Issuing Bank shall not exceed the LC Commitment of the applicable Issuing Bank, (ii) the LC Exposure shall not exceed the LC Sublimit, (iiiii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iiiiv) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, however that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $100,000 (or such lesser amount as approved by the applicable Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Samples: First Lien Credit Agreement (Allvue Systems Holdings, Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Revolving Credit Administrative Agent not later than 11:00 a.m. New York City time ten (10London time) on the date three Business Days preceding prior to the requested date of issuance, amendment, renewal or extension issuance (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business DayDay in London, England);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder;
(viii) if the Dollar Equivalent of the face amount of the proposed Letter of Credit is less than $300,000, then the Dollar Equivalent of the aggregate face amount of all Letters of Credit issued and outstanding and each with the Dollar Equivalent face amounts less than $300,000 (including the Letter of Credit the subject of the LC Request) does not exceed $5,000,000;
(ix) the form of the Letter of Credit requested including whether it shall be a Commercial Letter of Credit, Standby Letter of Credit or performance bond;
(x) the delivery instructions for the Letter of Credit requested; and
(viiixi) such other matters as the Issuing Bank may reasonably require. To request the amendment, renewal or extension of any Letter of Credit issued hereunder, Borrower shall deliver, by hand or telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank), an LC Renewal Request to the Issuing Bank and the Revolving Credit Administrative Agent not later than 11: 00 a.m. (London time) on the date three Business Days prior to the requested date of amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank): A request for an amendment, renewal or extension of any outstanding Letter of Credit issued hereunder shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the expiry date thereof (which shall not be later than the close of business on the Letter of Credit Expiration Date);
(iv) the nature of the proposed amendment, renewal or extension; and
(ivv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the relevant Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the Dollar Equivalent of the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the Dollar Equivalent of the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, a Borrower shall reasonably request and such request shall be reasonably satisfactory to the Issuing Bank, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)300,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Revolving Credit Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)2.17(d).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the a Borrower shall deliver deliver, by handhand delivery, facsimile or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the such Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the a 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the a Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, and subject to the provisions of Section 10.10, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total lesser of (A) the total Revolving Commitment Commitments and (B) the Borrowing Base then in effect and (iii) the conditions set forth in Article IV lV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 100,000, in the case of a Commercial Letter of Credit, or $100,000, in the case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars; provided, that, notwithstanding the foregoing, up to five (or such lesser 5) Letters of Credit may be issued and outstanding at any one time which are each in an initial amount as approved by the Issuing Bank)less than $100,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (AGY Holding Corp.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower US Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the US Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request Each LC Request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing BankBank the following:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower US Borrowers shall be the applicant a co-applicant, and therefor jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Borrower US Borrowers 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, but in the event of any inconsistency between such standard form and this Agreement, the terms of this Agreement shall control. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower US Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total lesser of (A) the total Revolving Commitment Commitments minus any Line Reserve and (B) the Borrowing Base then in effect and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the US Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d))2.18. On the first Business Day of each calendar month, the Issuing Bank shall provide to the US Administrative Agent a report listing all outstanding Letters of Credit and the outstanding amounts and beneficiaries thereof and the amount and maturities of any LC Acceptances and the US Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower US Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the US Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request Each LC Request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing BankBank the following:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower US Borrowers shall be the applicant a co-applicant, and therefor jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Borrower US Borrowers 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, but in the event of any inconsistency between such standard form and this Agreement, the terms of this Agreement shall control. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower US Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total lesser of (A) the total Revolving Commitment Commitments minus any Line Reserve and (B) the Borrowing Base minus the U.S. Minimum Availability Requirement then in effect, (iii) the aggregate Revolving Exposure plus the aggregate Tranche B Exposure shall not exceed the amount equal to the Borrowing Base minus the U.S. Minimum Availability Requirement minus the Line Reserve plus the Tranche B Borrowing Base and (iv) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the US Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d))2.18. On the first Business Day of each calendar month, the Issuing Bank shall provide to the US Administrative Agent a report listing all outstanding Letters of Credit and the outstanding amounts and beneficiaries thereof and the amount and maturities of any LC Acceptances and the US Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV Section 4.02(b) and (c) in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: First Lien Credit Agreement (Thompson Creek Metals CO Inc.)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day SC1:3775857.9 LEGAL_US_E # 113365636.9 preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended issued only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated SC1:3775857.9 LEGAL_US_E # 113365636.9 amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If the Issuing Bank is not the same person as the Administrative Agent, on the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Cayman Letter of Credit or the amendment, renewal or extension of an outstanding Cayman Letter of Credit, the Cayman Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an a Cayman LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Cayman Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Cayman Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Cayman Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Cayman Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Cayman Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesits Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Cayman Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Cayman Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Cayman Borrower also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Cayman Letter of Credit. A Cayman Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Cayman Letter of Credit, the Cayman Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Cayman Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Cayman Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to Issuing Bank shall promptly notify the Administrative Agent, who shall promptly notify each Revolving Lender Lender, thereof, which notice shall include be accompanied by a copy of such Cayman Letter of Credit also or amendment, renewal, extension or modification to a Cayman Letter of Credit and the amount of each such Revolving Lender’s respective participation in such Cayman Letter of Credit pursuant to Section 2.18(d2.18(A)(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Cayman Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Total Exposures shall not exceed the Total Revolving Commitment total Commitments and (iii) except in the case of any amendment that does not increase the amount of, or extend the expiry date of, a Letter of Credit, the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Agent shall deliver by hand, facsimile hand or other email through a “pdf” copy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. 12:00 noon New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(iA) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(iiB) the stated or “face” amount thereof;
(iiiC) the expiry date thereof (which shall not be determined later than the close of business on the earlier of (x) the date which is one year after the date of the issuance of such Letter of Credit and (y) the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension; provided that such expiry date may extend beyond the Letter of Credit Expiration Date in accordance with Section 2.18(c) belowthe case of any Letter of Credit which has been backstopped or Cash Collateralized in a manner reasonably acceptable to the applicable Issuing Bank);
(ivD) the name and address of the beneficiary thereof;
(vE) whether the Letter of Credit is to shall be issued for the Borrower’s own accountbenefit of Intermediate Holdings, any Borrower or for the account one or more of one each of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted their respective Subsidiaries);
(viF) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(viiG) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viiiH) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(iA) the Letter of Credit to be amended, renewed or extended;
(iiI) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiiJ) the expiry date thereof (which shall not be later than the close of business on the earlier of (x) the date which is one year after the date of the issuance of such Letter of Credit and (y) the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension);
(K) the nature of the proposed amendment, renewal or extension; and
(ivL) such other customary matters as the Issuing Bank reasonably may require. If requested by the applicable Issuing Bank, the Borrower Agent also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Agent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the amount of the LC Exposure shall not exceed the LC SublimitSublimit and the amount of the LC Exposure of each Issuing Bank shall not exceed its LC Commitment, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment Commitments and the total Revolving Exposures shall not exceed the Line Cap, (iii) the total Revolving Exposure attributable to any Class of Commitments would exceed the aggregate amount of such Commitments, (iv) in the case of any Letter of Credit which will mature but after the Maturity Date of one or more Classes of Commitments but before the Maturity Date of one or more other Classes of Commitments, the aggregate LC Exposure attributable to Letters of Credit which will mature after such Maturity Dates shall not exceed the Commitments attributable to later maturing Classes which will remain in effect after such Maturity Dates and (iiiv) the conditions set forth in Article IV Section 6.2 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser or, with respect to Letters of Credit denominated in Canadian Dollars, the Dollar Equivalent amount as approved by the Issuing Bank)thereof. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, Lender thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the Dollar Equivalent amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.1(d)(iv)).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined later than the date specified in accordance with Section 2.18(c) below2.17(c));
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned its Restricted Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned a Restricted SubsidiariesSubsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the expiry date thereof (which shall not be later than the date specified in Section 2.17(c));
(iv) the nature of the proposed amendment, renewal or extension; and
(ivv) such other matters as the applicable Issuing Bank reasonably may require. If requested by the applicable Issuing Bank, the Borrower also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A In the event of any conflict or inconsistency between this Agreement and the terms and conditions of any letter of credit application or other agreement submitted by Borrower to, or entered into by Borrower with, the applicable Issuing Bank relating to any Letter of Credit Credit, the terms and conditions of this Agreement shall be issuedcontrol. No Issuing Bank shall have any obligation to issue, amendedamend, renewed renew or extended only if extend, and Borrower shall not request the issuance, amendment, renewal or extension of (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), any Letter of Credit at any time if after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not would exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not Exposure would exceed the Total total Revolving Commitment and Commitments, (iii) the conditions Revolving Exposure of any Lender would exceed the Revolving Commitment of such Lender or (iv) any condition set forth in Article IV Section 4.02 in respect of such issuance, amendment, renewal or extension shall not have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the applicable Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the second Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(clater than the close of business on the Letter of Credit Expiration Date) below(provided that subject to cash collateralization or other credit support acceptable to the Issuing Bank, a Letter of Credit may provide for longer maturity);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (Banta Corp)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or telecopier (or transmit by other electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 2:00 p.m. on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the such Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank may reasonably may require. If requested by the an Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV Section 4.02 in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)500,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also thereof and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the last Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit;
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to an LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of one of the Borrower’s Wholly Owned Holdings’ Restricted Subsidiaries (provided that the Borrower shall be the applicant applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Holdings’ Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the applicable Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the aggregate stated amount of Letters of Credit issued by an Issuing Bank shall not exceed the LC Commitment of the applicable Issuing Bank (unless otherwise agreed by such Issuing Bank), (ii) the LC Exposure shall not exceed the LC Sublimit, (iiiii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iiiiv) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; , provided, however, however that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $100,000 (or such lesser amount as approved by the applicable Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the a Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated amount thereof and the currency (which shall be Dollars or “face” amount thereofan Alternative Currency) for such requested Letter of Credit;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the such Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the such 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the such Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing BankDollar Equivalent thereof), in the case of a Commercial Letter of Credit, or $500,000 (or the Dollar Equivalent thereof), in the case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (MagnaChip Semiconductor LTD (United Kingdom))
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailor the Synthetic LC Issuing Bank, as applicable), an LC Request to the Issuing Bank or the Synthetic LC Issuing Bank, as applicable, and the Administrative Agent not later than 11:00 a.m. 1:00 p.m., New York City time ten (10) time, on the fifth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank or the Synthetic LC Issuing Bank, as applicable). For the avoidance of doubt, the Synthetic Letters of Credit shall not be renewed or extended. A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); provided that, with respect to the Synthetic Letters of Credit the issue date shall be the Closing Date;
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency); provided that, with respect to the Synthetic Letters of Credit, which shall be denominated in dollars, the aggregate face amount thereof shall not exceed $151.0 million;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank or the Synthetic LC Issuing Bank, as applicable, may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank or the Synthetic LC Issuing Bank, as applicable:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably or the Synthetic LC Issuing Bank, as applicable, may require. If requested by the Issuing Bank or the Synthetic LC Issuing Bank, the as applicable, Borrower also shall submit a letter of credit application on the Issuing Bank’s or the Synthetic LC Issuing Bank’s, as applicable, standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) with respect to Revolving Letters of Credit, the Revolving LC Exposure shall not exceed the LC SublimitCommitment, (ii) with respect to Revolving Letters of Credit, the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments, (iii) with respect to Synthetic Letters of Credit, the Synthetic LC Exposure shall not exceed the amount that has been deposited in cash in the Synthetic LC Deposit Account; and (iiiiv) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit . In the renewal case of an Auto-Renewal a Revolving Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless Credit, unless the Issuing Bank shall agree otherwise, no Revolving Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $250,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Revolving Letter of Credit, the notice to Issuing Bank shall promptly notify the Administrative Agent, who shall promptly notify each Revolving Lender Lender, thereof, which notice shall include be accompanied by a copy of such Revolving Letter of Credit also or amendment, renewal, extension or modification to a Revolving Letter of Credit and the amount of each such Revolving Lender’s respective participation in such Revolving Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Revolving Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (On Assignment Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) if available, the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)5,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each fiscal quarter, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, hand or facsimile (or other transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an executed LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 12:00 noon on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) i. the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) . the stated or “face” amount thereof;
(iii) . the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) . the name and address of the beneficiary thereof;
(v) v. whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned its Restricted Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned a Restricted SubsidiariesSubsidiary);
(vi) . the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) . the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) . such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) ix. the Letter of Credit to be amended, renewed or extended;
(ii) x. the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) xi. the nature of the proposed amendment, renewal or extension; and
(iv) xii. such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon such issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV (to the extent applicable) in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (10,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $5,000, in the Issuing Bank)case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Agent shall deliver by hand, facsimile hand or other email through a “pdf” copy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. 12:00 noon New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). 50 AMERICAS 00000000 A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(iA) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(iiB) the stated or “face” amount thereof;
(iiiC) the expiry date thereof (which shall not be determined later than the close of business on the earlier of (x) the date which is one year after the date of the issuance of such Letter of Credit and (y) the Letter of Credit Expiration Date or as otherwise extended pursuant to the LC Extension; provided that such expiry date may extend beyond the Letter of Credit Expiration Date in accordance with Section 2.18(c) belowthe case of any Letter of Credit which has been backstopped or Cash Collateralized in a manner reasonably acceptable to the applicable Issuing Bank);
(ivD) the name and address of the beneficiary thereof;
(vE) whether the Letter of Credit is to shall be issued for the Borrower’s own accountbenefit of Intermediate Holdings, any Borrower or for the account one or more of one each of the Borrower’s Wholly Owned Restricted Subsidiaries (provided that the Borrower shall be the applicant with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted their respective Subsidiaries);
(viF) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(viiG) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viiiH) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted Subsidiaries a Subsidiary (provided that the Borrower Borrowers shall be the applicant co-applicants, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the Borrower Borrowers 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (50,000 or such lesser amount as approved by that is reasonably acceptable to the Issuing Bank). Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d2.17(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the applicable LC Exposure shall not exceed the applicable LC SublimitCommitment, (ii) the total applicable Revolving Exposures shall not exceed the Total total applicable Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an . Unless Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). If Issuing Bank is not the same person as Administrative Agent, on the first Business Day of each calendar month, Issuing Bank shall provide to Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver by hand, facsimile or other telecopier (or transmit by electronic communicationcommunication (including email)), if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. 1:00 p.m., New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit;
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to an LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s own account, or for the account of Holdings or one of the Borrower’s Holdings’ other Wholly Owned Restricted Subsidiaries (provided that the a Borrower shall be the applicant with respect to each Letter of Credit issued for the account of Holdings or any of the Borrower’s Holdings’ other Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the applicable Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the aggregate stated amount of Letters of Credit issued by an Issuing Bank shall not exceed the LC Commitment of the applicable Issuing Bank (unless otherwise agreed by such Issuing Bank), (ii) the LC Exposure shall not exceed the LC Sublimit, (iiiii) the total Revolving Exposures shall not exceed the Total Revolving Commitment and (iiiiv) the conditions set forth in Article Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; , provided, however, however that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii2.17(c)(ii) below. Unless the applicable Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 or such other amount as the Borrower and the Administrative Agent shall reasonably agree, in the case of a Commercial Letter of Credit, or $100,000 or such other amount as the Borrower and the Administrative Agent shall reasonably agree (or or, in each case, such lesser amount as approved by the applicable Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(dSection 2.17(d)).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower applicable Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the applicable Administrative Agent not later than 11:00 a.m. 2:00 p.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request Each LC Request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing BankBank the following:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the a Borrower shall be the applicant a co-applicant, and be jointly and severally liable, with respect to each Letter of Credit issued for the account of any a Subsidiary or, in the case of the Canadian Borrower’s Wholly Owned Restricted Subsidiaries, another Canadian Loan Party);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(iix) the Letter of Credit to be amended, renewed or extended;
(iix) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iiixi) the nature of the proposed amendment, renewal or extension; and
(ivxii) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Borrower applicable Borrowers also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of CreditCredit (including, without limitation a letter of credit application pursuant to the Master Documentary Agreement or to the Master Standby Documentary Agreement), but in the event of any inconsistency between such standard form and this Agreement, the terms of this Agreement shall control. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the US LC Exposure shall not exceed the LC Commitment, less the Canadian LC Exposure at such time, (iii) the Canadian LC Exposure shall not exceed the Canadian LC Sublimit, (iv) total Revolving Exposures shall not exceed the Total lesser of the total Revolving Commitment Commitments, (v) the US Revolving Exposures shall not exceed the lesser of (A) the US Revolving Commitments and (iiiB) the Borrowing Base minus the U.S. Minimum Availability Requirement then in effect, (vi) the Canadian Exposures shall not exceed the lesser of (A) the Canadian Revolving Commitments and (B) the Canadian Borrowing Base minus the Canadian Minimum Availability Requirement then in effect, (vii) US Excess Availability, determined after giving effect to the issuance of any Letter of Credit, (A) on the date of the issuance of such Letter of Credit and (B) on a projected basis determined by the reference to the Budget then in effect, shall not be less than $75,000,000, and (viii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $500,000, in the Issuing Bank)case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the applicable Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each applicable Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d))2.18. On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agents a report listing all outstanding Letters of Credit and the outstanding amounts and beneficiaries thereof and the amount and maturities of any LC Acceptances and the Administrative Agents shall promptly provide such report to each relevant Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit or such lesser amount as approved by the Issuing Bank)a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Samples: Credit Agreement (Ventiv Health Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, hand or facsimile (or other transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an executed LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) 12:00 noon on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned its Restricted Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned a Restricted SubsidiariesSubsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank may reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total total Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank and the Administrative Agent shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (10,000, in the case of a Commercial Letter of Credit, or such lesser amount as approved by $250,000, in the Issuing Bank). case of a Standby Letter of Credit, or is to be denominated in a currency other than Dollars Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower shall be the applicant a co-applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Additional Revolving Exposures shall not exceed the Total total Additional Revolving Commitment Commitments and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (100,000, in the case of a Commercial Letter of Credit or such lesser amount as approved by the Issuing Bank)a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Additional Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, the Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each Additional Revolving Lender.
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower US Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the US Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request Each LC Request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the Issuing BankBank the following:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereofand the currency thereof (which shall be any Approved Currency);
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower US Borrowers shall be the applicant a co-applicant, and therefor jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the Borrower US Borrowers also shall submit a letter of credit application on the Issuing Bank’s 's standard form in connection with any request for a Letter of Credit, but in the event of any inconsistency between such standard form and this Agreement, the terms of this Agreement shall control. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower US Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC SublimitCommitment, (ii) the total Revolving Exposures shall not exceed the Total lesser of (A) the total Revolving Commitment Commitments minus any Line Reserve and (B) the Borrowing Base then in effect and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank). Upon the issuance of any Letter of Credit or amendment100,000, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Commercial Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit$500,000, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Standby Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
Appears in 1 contract
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Borrowers shall deliver deliver, by hand, facsimile hand or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank in writing (including via e-mailBank), an LC Request to the applicable Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the third Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the applicable Issuing Bank)) and the Administrative Agent. A request for an initial issuance of a Letter of Credit shall specify, specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day);
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the Borrower’s its own account, account or for the account of one of the Borrower’s Wholly Owned Restricted its Subsidiaries (provided that the Borrower Borrowers shall be the applicant co-applicants, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s Wholly Owned Restricted Subsidiariesa Subsidiary);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder;
(viii) with respect to Letters of Credit issued for the account of a Subsidiary (other than BE LLC) only, all documentation and other information that may be required by the Lenders in order to enable compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, including the information described in Section 10.13; and
(viiiix) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension;
(iv) with respect to Letters of Credit issued for the account of a Subsidiary (other than BE LLC) only, all documentation and other information that may be required by the Lenders in order to enable compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, including the information described in Section 10.13; and
(ivv) such other matters as the applicable Issuing Bank reasonably may require. If requested by the an Issuing Bank, the Borrower Borrowers also shall submit a letter of credit application on the such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) aggregate amount of the total Revolving Exposures shall not exceed the Total Revolving Commitment Credit-Linked Deposits and (iiiii)(x) for Letters of Credit issued on the Closing Date, the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; provided, however, that an Issuing Bank may permit the renewal of an Auto-Renewal Letter satisfied and (y) for Letters of Credit in accordance with issued after the Closing Date, no Event of Default under Section 2.18(c)(ii8.01(a), (b), (h) belowor (i) shall have occurred and be continuing. Unless the an Issuing Bank shall agree otherwise, no Letter of Credit issued by such Issuing Bank shall be in an initial amount less than $100,000 (or such lesser amount as approved by the Issuing Bank)25,000. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of to a Letter of Credit, the applicable Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of CreditAgent, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent who shall promptly notify each Revolving LC Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)). On the first Business Day of each calendar month, each Issuing Bank shall provide to the Administrative Agent a report listing all outstanding Letters of Credit issued by such Issuing Bank and the amounts and beneficiaries thereof and the Administrative Agent shall promptly provide such report to each LC Lender. On, and effective as of, the Closing Date, each Existing Letter of Credit shall be deemed to have been issued hereunder.
Appears in 1 contract
Samples: Credit Agreement (Bearingpoint Inc)
Request for Issuance, Amendment, Renewal, Extension; Certain Conditions and Notices. To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower Borrowers shall deliver by hand, facsimile or other telecopier (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank in writing (including via e-mailBank), an LC Request to the Issuing Bank and the Administrative Agent not later than 11:00 a.m. New York City time ten (10) on the tenth Business Days Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is acceptable to the Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify, in form and detail reasonably satisfactory to the Issuing Bank:
(i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day)) and whether such Letter of Credit is to be a Standby Letter of Credit or a Commercial Letter of Credit;
(ii) the stated or “face” amount thereof;
(iii) the expiry date thereof (which shall not be determined in accordance with Section 2.18(c) belowlater than the close of business on the Letter of Credit Expiration Date or as otherwise extended pursuant to an LC Extension);
(iv) the name and address of the beneficiary thereof;
(v) whether the Letter of Credit is to be issued for the any Borrower’s own account, or for the account of one of the Borrower’s its Wholly Owned Restricted Subsidiaries (provided that the applicable Borrower shall be the applicant applicant, and therefore jointly and severally liable, with respect to each Letter of Credit issued for the account of any of the Borrower’s its Wholly Owned Restricted Subsidiaries);
(vi) the documents to be presented by such beneficiary in connection with any drawing thereunder;
(vii) the full text of any certificate to be presented by such beneficiary in connection with any drawing thereunder; and
(viii) such other matters as the Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the Issuing Bank:
(i) the Letter of Credit to be amended, renewed or extended;
(ii) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day);
(iii) the nature of the proposed amendment, renewal or extension; and
(iv) such other matters as the Issuing Bank reasonably may require. If requested by the Issuing Bank, the 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. A Letter of Credit shall be issued, amended, renewed or extended only if (and, upon issuance, amendment, renewal or extension of each Letter of Credit, the Borrower Borrowers shall be deemed to represent and warrant that), ) after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure shall not exceed the LC Sublimit, (ii) the total Revolving Exposures shall aggregate amount of all Letters of Credit issued by such Issuing Bank does not exceed the Total Revolving LC Commitment of such Issuing Bank and (iii) the conditions set forth in Article IV in respect of such issuance, amendment, renewal or extension shall have been satisfied; , provided, however, however that an Issuing Bank may permit the renewal of an Auto-Renewal Letter of Credit in accordance with Section 2.18(c)(ii) below. Unless the Issuing Bank shall agree otherwise, no Letter of Credit shall be in an initial amount less than $100,000, in the case of a Commercial Letter of Credit, or $100,000 (or such lesser amount as approved by the Issuing Bank), in the case of a Standby Letter of Credit. Upon the issuance of any Letter of Credit or amendment, renewal, extension or modification of a Letter of Credit, the Issuing Bank shall promptly notify the Administrative Agent in writing (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the Administrative Agent shall promptly notify each Revolving Lender, thereof), which notice shall be accompanied by a copy of such Letter of Credit or amendment, renewal, extension or modification to a Letter of Credit (and in the case of an issuance of a new Letter of Credit, or an increase or decrease in the stated amount of an existing Letter of Credit, the notice to each Revolving Lender shall include a copy of such Letter of Credit also and the amount of each such Revolving Lender’s respective participation in such Letter of Credit pursuant to Section 2.18(d)).
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