Requests for Letter of Credit Sample Clauses

Requests for Letter of Credit. All requests by CACI to MGC shall be in writing. Prior to CACI requesting MGC to obtain any letter of credit hereunder, CACI shall deliver to MGC, a copy of the relevant purchase order, which shall in all cases be for approved CSCE ?C? Contract coffee; a valid insurance policy covering risk of loss of the goods being purchased (which names MGC as an additional insured), all expenses and contemplated profit on the sale of the goods being purchased; confirmation that a valid hedge contract exists for the sale of the goods being purchased that covers all in cost of goods sold, including, but not limited to, shipping, taxes, insurance, inspections, customs duty and expenses, inland freight, warehousing, a thirty seven and one half percent (37 1/2%) per annum return on money in use for the letter of credit being issued to purchase the goods, from the date of issuance of the letter of credit until the date it is repaid; and any other requirements of MGC or its financial institution. All shipping documents, for each and every shipment, shall designate MGC as consignee. All insurance policies shall list MGC as an additional insured. MGC shall have the right to refuse to fund any transaction that it, in its sole discretion, believes does not conform to the Victoria Agreement or this Agreement.
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Requests for Letter of Credit. Prior to the Letter of Credit Expiry Date, Borrower may request that L/C Issuer issue a letter of credit (“Letter of Credit”) for Borrower’s account or to extend or renew any existing Letters of Credit issued by L/C Issuer, in an aggregate stated amount not to exceed, the lesser of the Letter of Credit Limit and the outstanding amount owed by Borrower on its contract with Beneficiary. Such request will be made in accordance with the instructions provided in the Letter of Credit Application and, if such instructions are not so provided, then each such request shall be made by delivering a written request for the issuance, extension or renewal of such Letter of Credit to L/C Issuer not later than 11:00 a.m. (American Samoa time) three (3) Business Days prior to the date the Letter of Credit is to be issued or an existing Letter of Credit is to be extended or renewed. Any request for a Letter of Credit shall be deemed to constitute a representation and warranty by Borrower that, as of the date of such request, the statements set forth in Article 5 of the Loan Agreement and the statements in the Loan Documents are true and correct and that no Default or Event of Default has occurred and is continuing. Each request for a Letter of Credit shall specify the face amount of the requested Letter of Credit, the proposed date of expiration, and whether such Letter of Credit is an extension or renewal of an existing Letter of Credit. Each letter of credit request shall include terms and conditions for drawing which shall be acceptable to L/C Issuer.

Related to Requests for Letter of Credit

  • Requests for Letters of Credit Each Borrower shall make requests for Letters of Credit in writing at least two (2) Business Days prior to the date such Letter of Credit is to be issued. Each such request shall specify the date such Letter of Credit is to be issued, the amount thereof, the name and address of the beneficiary thereof and a description of the transaction to be supported thereby. Any such notice shall be accompanied by the form of Letter of Credit requested and any application or reimbursement agreement required by the issuer of such Letter of Credit. If any term of such application or reimbursement agreement is inconsistent with this Agreement, then the provisions of this Agreement shall control to the extent of such inconsistency.

  • Letter of Credit Requests (a) Whenever the Borrower desires that a Letter of Credit be issued for its account or for the account of any of its Subsidiaries, it shall give the Administrative Agent and the Letter of Credit Issuer at least five (or such lesser number as may be agreed upon by the Administrative Agent and the Letter of Credit Issuer) Business Days’ written notice thereof. Each such notice shall be executed by the Borrower and shall be in the form of Exhibit G (each a “Letter of Credit Request”).

  • Issuance of Letter of Credit Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in subsection 4.3, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender's standard operating procedures.

  • Letter of Credit Applications Each Letter of Credit Application shall be completed to the satisfaction of the Agent. In the event that any provision of any Letter of Credit Application shall be inconsistent with any provision of this Credit Agreement, then the provisions of this Credit Agreement shall, to the extent of any such inconsistency, govern.

  • Delivery of Letter of Credit Tenant shall deliver to Landlord concurrent with Tenant’s execution of this Lease, as protection for the full and faithful performance by Tenant of all of its obligations under this Lease and for all losses and damages Landlord may suffer (including, without limitation, damages provided to Landlord pursuant to Section 1951.2 of the California Civil Code) as a result of any breach or default by Tenant under this Lease, an unconditional, clean, irrevocable negotiable standby letter of credit (the “L/C”) in the amount set forth in Section 10 of the Summary (the “L/C Amount”), in the form attached hereto as Exhibit I, payable in the City of San Francisco, California (or payable upon delivery of a draw request sent by Landlord by overnight courier delivery), running in favor of Landlord, drawn on a bank (the “Bank”) reasonably approved by Landlord and at a minimum having a long term issuer credit rating from Standard and Poor’s Professional Rating Service of A or a comparable rating from Xxxxx’x Professional Rating Service (the “Credit Rating Threshold”), and otherwise conforming in all material respects to the requirements of this Article 21, including, without limitation, all of the requirements of Section 21.2 below, all as set forth more particularly hereinbelow. Tenant shall pay all expenses, points and/or fees incurred by Tenant in obtaining and maintaining the L/C. In the event of an assignment by Tenant of its interest in the Lease (and irrespective of whether Landlord’s consent is required for such assignment), the acceptance of any replacement or substitute letter of credit by Landlord from the assignee shall be subject to Landlord’s prior written approval, in Landlord’s reasonable discretion, and the out-of-pocket attorney’s fees for outside counsel incurred by Landlord in connection with such determination shall be payable by Tenant to Landlord within ten (10) days of billing.

  • Requests for Issuance of Letters of Credit The Borrower shall give the Issuing Bank and the Administrative Agent written notice at least five (5) Business Days 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) initial Stated Amount, (ii) beneficiary, and (iii) expiration date. The Borrower shall also execute and deliver such customary applications and agreements for standby letters of credit, and other forms as requested from time to time by the Issuing Bank. Provided the Borrower has given the notice prescribed by the first sentence of this subsection and delivered such applications and agreements referred to in the preceding sentence, subject to the other terms and conditions of this Agreement, including the satisfaction of any applicable conditions precedent set forth in Section 6.2, the Issuing Bank shall issue the requested Letter of Credit on the requested date of issuance for the benefit of the stipulated beneficiary but in no event shall Issuing Bank be obligated to deliver the requested Letter of Credit prior to the date five (5) Business Days following the date after which the Issuing Bank has received all of the items required to be delivered to it under this subsection. The Issuing Bank shall not at any time be obligated to issue any Letter of Credit if such issuance would conflict with, or cause the Issuing Bank or any Revolving Lender to exceed any limits imposed by, any Applicable Law. References herein to “issue” and derivations thereof with respect to Letters of Credit shall also include extensions or modifications of any outstanding Letters of Credit, unless the context otherwise requires. Upon the written request of the Borrower, the Issuing Bank 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.

  • Letter of Credit Request See §2.10(a).

  • Letter of Credit Application The Administrative Agent shall have received a properly completed letter of credit application if the issuance of a Letter of Credit will be required on the Effective Date.

  • REQUESTS FOR CREDIT Each request for an extension of credit will be made in writing in a manner acceptable to the Bank, or by another means acceptable to the Bank.

  • Notice of Borrowing; Letter of Credit Request (a) Prior to the making of each Loan (other than a Swingline Loan or a Revolving Loan made pursuant to a Mandatory Borrowing), the Administrative Agent shall have received a Notice of Borrowing meeting the requirements of Section 2.03(a). Prior to the making of each Swingline Loan, the Swingline Lender shall have received the notice referred to in Section 2.03(b)(i).

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