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

Requests for Issuance of Letters of Credit. The Borrower shall give the Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) Stated Amount, (ii) the Currency in which such Letter of Credit is to be denominated, (iii) beneficiary, and (iv) expiration date. The Borrower shall also execute and deliver such customary letter of credit application forms as requested from time to time by the Agent. Provided the Borrower has given the notice prescribed by the first sentence of this subsection and subject to the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article V, the Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary. Upon the written request of the Borrower, the Agent shall deliver to the Borrower a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall control.

Appears in 3 contracts

Samples: And Consolidated Credit Agreement (Epr Properties), And Consolidated Credit Agreement (Epr Properties), And Consolidated Credit Agreement (Epr Properties)

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Requests for Issuance of Letters of Credit. The Borrower Borrowers shall give the Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) Stated Amount, (ii) the Currency in which such Letter of Credit is to be denominated, (iii) beneficiary, and (iviii) expiration date. The Borrower Borrowers shall also execute and deliver such customary letter of credit application forms as requested from time to time by the Agent. Together with the notice to the Agent as specified immediately above, the Borrowers shall deliver to the Agent a completed, current Borrowing Base Certificate. Provided the Borrower has Borrowers have given the notice prescribed by the first sentence of this subsection and subject to the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article V, the Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary. Upon the written request of the BorrowerBorrowers, the Agent shall deliver to the Borrower Borrowers a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall control.

Appears in 2 contracts

Samples: Credit Agreement (Lexington Realty Trust), Credit Agreement (Lexington Realty Trust)

Requests for Issuance of Letters of Credit. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) Stated Amount, (ii) the Currency beneficiary, (iii) the expiration date and (iv) the full legal name of the Subsidiary in which such whose name the Letter of Credit is to be denominated, (iii) beneficiary, and (iv) expiration dateissued. The Borrower shall also cause the Subsidiary to execute and deliver such customary letter of credit application forms as requested from time to time by the Administrative Agent. Provided the Borrower has given the notice prescribed by the first sentence of this subsection and subject to the other terms and conditions of this Agreement, 4889-7534-3155, v. 14 including the satisfaction of any applicable conditions precedent set forth in Article VV., the Administrative Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary. Upon the written request of the Borrower, the Administrative Agent shall deliver to the Borrower a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall control.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties Trust)

Requests for Issuance of Letters of Credit. The Borrower shall give the Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 not later than 11:00 a.m. on the date 3 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) the proposed initial Stated Amount, (ii) the Currency in which beneficiary or beneficiaries, (iii) whether such Letter of Credit is to be denominated, (iii) beneficiary, a commercial or standby letter of credit and (iv) the proposed expiration date. The Borrower shall also execute and deliver such customary letter of credit application forms as reasonably requested from time to time by the Agent. Provided the Borrower has given the notice prescribed required by the first sentence of this subsection and subject to Section 2.13. and the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article VV., the Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiaryissuance. Upon the written request of the Borrower, the Agent shall deliver to the Borrower a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Credit Document, the term of such Loan Credit Document shall control.

Appears in 1 contract

Samples: Credit Agreement (Serologicals Corp)

Requests for Issuance of Letters of Credit. The Borrower shall give the Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 not later than 11:00 a.m. on the date 3 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) the proposed initial Stated Amount, (ii) the Currency in which beneficiary or beneficiaries, (iii) whether such Letter of Credit is to be denominated, (iii) beneficiary, a commercial or standby letter of credit and (iv) the proposed expiration date. The Borrower shall also execute and deliver such customary letter of credit application forms as reasonably requested from time to time by the Agent. Provided the Borrower has given the notice prescribed required by the first sentence of this subsection and subject to Section 2.14. and the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article VV., the Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiaryissuance. Upon the written request of the Borrower, the Agent shall deliver to the Borrower a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Credit Document, the term of such Loan Credit Document shall control.

Appears in 1 contract

Samples: Credit Agreement (Serologicals Corp)

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Requests for Issuance of Letters of Credit. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 three Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) the proposed initial Stated Amount, (ii) the Currency in which beneficiary or beneficiaries, (iii) whether such Letter of Credit is to be denominated, (iii) beneficiary, a commercial or standby letter of credit and (iv) expiration the proposed expiry date. The Borrower shall also execute and deliver such customary letter of credit application forms as requested from time to time by the Administrative Agent. Provided the Borrower has given the notice prescribed by the first sentence of this subsection Section 2.3.(a) and subject to Section 2.14. and the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article VVI., the Administrative Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiaryissuance. Upon the written request of the Borrower, the Administrative Agent shall deliver to the Borrower a copy of (x) any Letter of Credit proposed to be issued hereunder prior to the issuance thereof and (y) each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall control.

Appears in 1 contract

Samples: Credit Agreement (Mgi Properties)

Requests for Issuance of Letters of Credit. The Borrower shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) Stated Amount, (ii) the Currency beneficiary, (iii) the 42 expiration date and (iv) the full legal name of the Subsidiary in which such whose name the Letter of Credit is to be denominated, (iii) beneficiary, and (iv) expiration dateissued. The Borrower shall also cause the Subsidiary to execute and deliver such customary letter of credit application forms as requested from time to time by the Administrative Agent. Provided the Borrower has given the notice prescribed by the first sentence of this subsection and subject to the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article VV., the Administrative Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary. Upon the written request of the Borrower, the Administrative Agent shall deliver to the Borrower a copy of each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall control.

Appears in 1 contract

Samples: Credit Agreement (Corporate Office Properties, L.P.)

Requests for Issuance of Letters of Credit. The Borrower shall give the Agent written notice (or telephonic notice promptly confirmed in writing) at least 5 Business Days (or such shorter period of time as the Agent may approve in its sole discretion) prior to the requested date of issuance of a Letter of Credit, such notice to describe in reasonable detail the proposed terms of such Letter of Credit and the nature of the transactions or obligations proposed to be supported by such Letter of Credit, and in any event shall set forth with respect to such Letter of Credit the proposed (i) the proposed initial Stated Amount, (ii) the Currency in which such Letter of Credit is to be denominatedbeneficiary or beneficiaries, and (iii) beneficiary, and (iv) the proposed expiration date. The Borrower shall also execute and deliver such customary applications and agreements for standby letters of credit, standby letter of credit application agreements, applications for amendment to letter of credit, and other forms as requested from time to time by the Agent. Provided the Borrower has given the notice prescribed by the first sentence of this subsection and delivered such application and agreement referred to in the preceding sentence and subject to the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Article VVII. and payment of all fees then payable under Section 3.6.(c), the Agent shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary. Upon the written request of the Borrower, the Agent shall deliver to the Borrower a copy of (i) any Letter of Credit proposed to be issued hereunder prior to the issuance thereof and (ii) each issued Letter of Credit within a reasonable time after the date of issuance thereof. To the extent any term of a Letter of Credit Document is inconsistent with a term of any Loan Document, the term of such Loan Document shall controlcontrol as to the Agent, the Lenders and the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

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