Utilisation Letters of Credit. 6.1 The Revolving Facility
Utilisation Letters of Credit. 6.1 THE REVOLVING FACILITY (a) The Revolving Facility may be utilised by way of Letters of Credit.
Utilisation Letters of Credit. General Subject to the terms and conditions set forth herein, a Revolving Borrower (or the Parent on its behalf) may request the Issuing Bank to issue Letters of Credit denominated in the Base Currency or the Optional Currency for its own account. The Issuing Bank shall have no obligation to issue, and a Revolving Borrower (or the Parent on its behalf) shall not request the issuance of, any Letter of Credit at any time if after giving effect to such issuance, the LC Exposure would exceed the LC Commitment or the Total Revolving Outstandings would exceed the Total Revolving Facility Commitments. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by a Revolving Borrower (or the Parent on its behalf) to, or entered into by a Revolving Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall prevail. The Revolving Facility The Revolving Facility may be utilised by way of Letters of Credit. Other than Clause 5.5 (Limitations on Utilisations), Clause 5 (Utilisation—Loans) does not apply to utilisations by way of Letters of Credit and Clause 10.2 (Repayment of Revolving Facility Loans). Request for Issuance, Amendment, Renewal; Certain Conditions and Notices To request the issuance of a Letter of Credit or the amendment or renewal of an outstanding Letter of Credit, a Revolving 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 Request to the Issuing Bank and the Priority Agent not later than 11:00 a.m. on the fifth Business Day preceding the requested date of issuance, amendment or renewal (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 satisfactory to the Issuing Bank: the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); the amount and the currency thereof (which shall be either the Base Currency or the Optional Currency); the expiry date thereof (which shall not be later than the close of business on the Letter of Credit Expiration Date); the name and address of the beneficiary thereof; the documents to be presented by such beneficiary in connection with any drawing thereunder; the full text of any certificate t...
Utilisation Letters of Credit. Revolving Facility 2
Utilisation Letters of Credit
