Common use of Request for Letters of Credit Clause in Contracts

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days prior written notice specifying the date a Letter of Credit is requested to be issued, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that the L/C Issuer cannot issue the requested Letter of Credit directly, Borrower may request that L/C Issuer arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Agent, L/C Issuer and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (a) supports a transaction entered into in the ordinary course of business of Borrower and (b) is in a form, is for an amount and contains such terms and conditions as are satisfactory to the L/C Issuer and Agent. If L/C Issuer receives written notice from Agent or the Requisite Lenders on or before the Business Day preceding issuance of a Letter of Credit that any conditions set forth in Section 7.2 have not been satisfied, L/C Issuer shall have no obligation to issue the requested Letter of Credit or any other Letter of Credit until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicable. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any Default, Event of Default or failure of such conditions. The initial notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s reimbursement agreement and an application for a letter of credit, if any, then required by the L/C Issuer completed in a manner satisfactory to such L/C Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower Borrowing Agent shall give Agent at least three (3) Business Days prior written notice specifying the date a US Lender Letter of Credit is requested to be issued, the amount and the name and address of identifying the beneficiary and a description describing the nature of the transactions proposed to be supported thereby. If Agent informs Borrower that The notice shall be accompanied by the L/C Issuer cannot issue form of the requested US Lender Letter of Credit directly, Borrower may being requested. Each request that L/C Issuer arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Agent, L/C Issuer and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (a) supports a transaction entered into in the ordinary course of business of Borrower and (b) is in a form, is for an amount and contains such terms and conditions as are satisfactory to the L/C Issuer and Agent. If L/C Issuer receives written notice from Agent or the Requisite Lenders on or before the Business Day preceding issuance of a Letter of Credit that any conditions set forth in Section 7.2 have not been satisfied, L/C Issuer shall have no obligation to issue the requested Letter of Credit or any other Letter of Credit until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicable. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any Default, Event of Default or failure of such conditions. The initial notice requesting the issuance of a Letter of Credit shall be accompanied by an application duly executed by the relevant Borrower in the form of then customarily prescribed by the Issuing Lender or issuer for the Letter of Credit then being requested with such modifications as may be mutually agreed for purposes of consistency with this Agreement (each a “US Letter of Credit Application”) and, in the case of an extension or amendment or an increase in the amount of a Letter of Credit, a written request therefor, in a form acceptable to the Agent and the L/C IssuerIssuing Lender or issuer, in each case, together with the fees called for by this Agreement. The Borrower’s reimbursement agreement obligations to the Issuing Lender or issuer with respect to any Letters of Credit issued by it shall be subject to the terms and an application for conditions of the relevant Application and this Agreement, provided that in the event of a letter of credit, if any, then required by conflict between the L/C Issuer completed in a manner satisfactory to such L/C Issuer. If any provision of any application or reimbursement agreement is inconsistent with terms thereof and the terms of this Agreement, then the provisions terms of this AgreementAgreement shall control. Any US Lender Letter of Credit which Borrowing Agent requests must be in such form, be for such amount, contain such terms and support such transactions as are reasonably satisfactory to Agent and, if issued by US Letter of Credit Issuer, US Letter of Credit Issuer. The expiration date of each US Lender Letter of Credit shall be on a date which is no later than the earlier of (x) twelve (12) months from the date of issuance (or which is cancelable no later than twelve (12) months from the date of issuance and each renewal) or (y) thirty (30) days prior to the extent Termination Date. US Letter of such inconsistency, shall controlCredit Issuer hereby commits to issue any US Lender Letter of Credit requested hereunder in accordance with the requirements of this subsection 2.1(F).

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days prior written notice specifying the date a Letter of Credit is requested to be issued, the amount and amount, the name and address of the beneficiary beneficiary, the proposed identity of the Issuing Lender and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that the L/C Issuer an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that L/C Issuer Heller arrange for the issuance of the requested Letter of Credit under a risk undxx x xisk participation agreement with another financial institution reasonably acceptable to Agent, L/C Issuer Heller and Borrower. The issuance of any Letter of Credit under this Agreement Xxxxxxent shall be subject to the conditions that the Letter of Credit (ai) supports a transaction entered into in the ordinary course of business of Borrower and (bii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the L/C Issuing Lender or the Bank Line Issuer and asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. If L/C Issuer receives written notice from Agent or In the Requisite Lenders on or before event that Borrower seeks the Business Day preceding issuance of a Letter of Credit that any conditions set forth in Section 7.2 have not been satisfiedthrough a Bank Line Issuer or an Issuing Lender other than Heller, L/C Issuer shall have no obligation to issue the requested issuance of such Letter of Credit shall be further conditxxxxx on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any other Letter such Letters of Credit until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicableand any related fees and expenses. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any Default, Event of Default or failure of such conditions. The initial Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s application or reimbursement agreement and an application for a letter of creditagreement, if any, then required by the L/C Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such L/C Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days prior written notice specifying the date a Letter of Credit is requested to be issued, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that the L/C Issuer an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that L/C Issuer Xxxxxx arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to AgentXxxxxx, L/C Issuer Borrower and Borrowerthe beneficiary of the requested Letter of Credit. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (ai) supports a transaction entered into in the ordinary course of business of Borrower or one of its Subsidiaries and (bii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the L/C Issuing Lender or the Bank Line Issuer and asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. If L/C Issuer receives written notice from Agent or In the Requisite Lenders on or before event that Borrower seeks the Business Day preceding issuance of a Letter of Credit that any conditions set forth in Section 7.2 have not been satisfiedthrough a Bank Line Issuer or an Issuing Lender other than Xxxxxx, L/C Issuer shall have no obligation to issue the requested issuance of such Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any other Letter such Letters of Credit until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicableand any related fees and expenses. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any Default, Event of Default or failure of such conditions. The initial Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s application or reimbursement agreement and an application for a letter of creditagreement, if any, then required by the L/C Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such L/C Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days Days’ prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that the L/C Issuer an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that L/C Issuer Xxxxxx arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Agent, L/C Issuer Xxxxxx and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (ai) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (bii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the L/C Issuing Lender or the Bank Line Issuer and asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. If L/C Issuer receives written notice from Agent or In the Requisite Lenders on or before event that Borrower seeks the Business Day preceding issuance of a Letter of Credit that any conditions set forth in Section 7.2 have not been satisfiedthrough a Bank Line Issuer or an Issuing Lender other than Xxxxxx, L/C Issuer shall have no obligation to issue the requested issuance of such Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any other Letter such Letters of Credit until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicableand any related fees and expenses. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any Default, Event of Default or failure of such conditions. The initial Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s application or reimbursement agreement and an application for a letter of creditagreement, if any, then required by the L/C Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such L/C Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.