Examples of Credit Application in a sentence
The Borrower agrees to be bound by the terms of the Letter of Credit Application and by the LC Bank’s interpretations of any Letter of Credit issued for the Borrower and by the LC Bank’s written regulations and customary practices relating to letters of credit, though the LC Bank’s interpretation of such regulations and practices may be different from the Borrower’s own.
In the case of a request for an amendment of any outstanding Letter of Credit, the Letter of Credit Application shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); and (3) the nature of the proposed amendment.
In addition to any other fees or expenses owing under the Fee Letter or any other Transaction Document or otherwise pursuant to any Letter of Credit Application, the Borrower shall pay to the LC Bank for its own account any customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the LC Bank relating to letters of credit as from time to time in effect.
Such Letter of Credit Application must be received by the applicable Issuing Bank and the AdministrativeRevolving Agent not later than 1:00 p.m10:00 a.m. at least five Business Days (or such shorter period as the applicable Issuing Bank and the AdministrativeRevolving Agent may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be.
In the event of a conflict between the Letter of Credit Application and this Agreement, this Agreement shall govern.