Common use of Requests for Letters of Credit Clause in Contracts

Requests for Letters of Credit. Borrower shall be deemed to request the incurrence of all documentary Letter of Credit Obligations and Eligible Trade L/C Obligations by electronically forwarding to Agent at its address as set forth in this Agreement an application for issuance of a Letter of Credit or Eligible Trade L/C in the form approved by the L/C Issuer or its processor. Provided that all other criteria for incurrence of Letter of Credit Obligations or Eligible Trade L/C Obligations are met, such application shall be electronically forwarded to the L/C Issuer with Agent's authorization to issue the requested Letter of Credit or Eligible Trade L/C (i) the same day as the application is received by Agent, if such application is forwarded to Agent on or before 12:00 noon (Chicago time) on any Business Day, or (ii) the Business Day following the Business Day that the application is received by Agent, in all other cases. All standby Letter of Credit Obligations shall be incurred upon Borrower's submission of a completed written Application for Standby Letter of Credit in the form provided by Agent. Each standby Letter of Credit shall be issued within two Business Days following finalization of mutually satisfactory letter of credit and drawing certificate provisions.

Requests for Letters of Credit. Borrower shall be deemed to request the incurrence of all documentary Letter of Credit Obligations and Eligible Trade L/C Obligations by electronically forwarding to Agent at its address as set forth in this the Agreement an application for issuance of a Letter of Credit or Eligible Trade L/C in the form approved by the L/C Issuer or its processor. Provided that all other criteria for incurrence of Letter of Credit Obligations or Eligible Trade L/C Obligations are met, such application shall be electronically forwarded to the L/C Issuer with Agent's authorization to issue the requested Letter of Credit or Eligible Trade L/C (i) the same day as the application is received by Agent, if such application is forwarded to Agent on or before 12:00 noon (Chicago time) on any Business Day, or (ii) the Business Day following the Business Day that the application is received by Agent, in all other cases. All standby Letter of Credit Obligations shall be incurred upon Borrower's submission of a completed written Application for Standby Letter of Credit in the form provided by Agent. Each standby Letter of Credit shall be issued within two Business Days following finalization of mutually satisfactory letter of credit and drawing certificate provisions.

Requests for Letters of Credit. Borrower shall be deemed to request the incurrence of all documentary Letter of Credit Obligations and Eligible Trade L/C Obligations by electronically forwarding to Agent at its address as set forth in this Agreement an application for issuance of a Letter of Credit or Eligible Trade L/C in the form approved by the L/C Issuer or its processor. Provided that all other criteria for incurrence of Letter of Credit Obligations or Eligible Trade L/C Obligations are met, such application shall be electronically forwarded to the L/C Issuer with Agent's ’s authorization to issue the requested Letter of Credit or Eligible Trade L/C (i) the same day as the application is received by Agent, if such application is forwarded to Agent on or before 12:00 noon (Chicago time) on any Business Day, or (ii) the Business Day following the Business Day that the application is received by Agent, in all other cases. All standby Letter of Credit Obligations shall be incurred upon Borrower's ’s submission of a completed written Application for Standby Letter of Credit in the form provided by Agent. Each standby Letter of Credit shall be issued within two Business Days following finalization of mutually satisfactory letter of credit and drawing certificate provisions.