Issuing the Letters of Credit. Each Letter of Credit shall be Issued on a Business Day on reasonable prior notice by hand delivery, telecopier or transmitted by electronic communication (if arrangements for doing so have been approved by the LC Issuer) from the Company or any LC Subsidiary, as the case may be, to the LC Issuer as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such documents as the LC Issuer may specify to the Company or LC Subsidiary, as the case may be, in form and substance satisfactory to the LC Issuer. On the date specified by the Company or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 2.01 hereof, the LC Issuer will Issue such Letter of Credit.
Issuing the Letters of Credit. Each Letter of Credit shall be Issued on three Business Days’ (or such shorter period as the Issuing Bank may agree) notice from the Borrower to the respective Issuing Bank and the Designated Agent as provided in a Notice of Letter of Credit Request (each such notice of letter of credit request, a “Notice of Letter of Credit Request”) in the form of Exhibit A-2 hereto, accompanied by the proposed form of such Letter of Credit in form and substance satisfactory to such Issuing Bank. On the date specified by the Borrower in such notice and upon fulfillment of the applicable conditions set forth in Section 4.02, such Issuing Bank will Issue such Letter of Credit and shall promptly notify the Designated Agent thereof.
Issuing the Letters of Credit. (a) In order to effect the issuance of a Letter of Credit, the Company shall submit a Notice of Borrowing and LC Application in writing by telecopy to the Administrative Agent (who shall promptly notify the Issuing Lender) not later than 12:00 p.m., Chicago, Illinois time, three (3) Business Days before the requested date of issuance of such Letter of Credit. Each such Notice of Borrowing and LC Application shall be signed by the Company, specify the Business Day on which such Letter of Credit is to be issued, the purpose for the requested Letter of Credit, specify the availability for Letters of Credit under the Borrowing Base, and the $20,000,000 aggregate LC Obligation limitation as of the date of issuance of such Letter of Credit and the expiry date thereof which shall not be later than the earlier of (i) twelve (12) months from the date of Issuance of such Letter of Credit and (ii) the seventh Business Day prior to Termination Date. If requested by the Company not later than three (3) Business Days prior to expiration of any Letter of Credit, any Letter of Credit may be renewed for the additional period specified in Section 2.1(c).
Issuing the Letters of Credit. (a) In order to effect the ----------------------------- issuance of a Letter of Credit, Borrower shall submit a Borrowing Request and a Letter of Credit Application in writing by telecopy to the Agent (who shall promptly notify the Issuing Bank) not later than 12:00 noon, Houston, Texas time, two (2) Business Days before the date of issuance of such Letter of Credit. Each such Borrowing Request and Letter of Credit Application shall (i) be signed by Borrower, (ii) specify the Business Day on which such Letter of Credit is to be issued, (iii) specify the Issuing Bank, and (iv) specify the availability for Letters of Credit under the Letter of Credit Commitment and the Total Commitment as of the date of issuance of such Letter of Credit and the expiration date thereof which shall not be later than the earlier of (A) twelve (12) months from the date of issuance of such Letter of Credit and (B) the Maturity Date; provided, however, that Borrower may request evergreen Letters of -------- ------- Credit that automatically renew for additional one year periods so long as the final expiry date thereof is on or before the Maturity Date.
Issuing the Letters of Credit. (a) Subject to the terms and conditions set forth herein, the Company may request the Issuing Lender to issue Letters of Credit for its own account or for any of its Subsidiaries, in a form reasonably acceptable to the Administrative Agent and the Issuing Lender, at any time and from time to time during the Availability Period; provided that the Company may not request the issuance, amendment, renewal or extension of Letters of Credit hereunder if the Effective Amount exceeds the Borrowing Base at such time or would exceed the Borrowing Base as a result thereof.
Issuing the Letters of Credit. Each Letter of Credit shall be Issued on notice from the Borrower or any LC Subsidiary, as the case may be, to the respective Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof and whether such Letter of Credit is a Trade Letter of Credit or Standby Letter of Credit and, if it is a Standby Letter of Credit, the amount of all Standby Letters of Credit then outstanding, accompanied by such documents as such Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to such Issuing Bank. On the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01, such Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.
Issuing the Letters of Credit. Each Letter of Credit shall be Issued on notice from the Borrower or any LC Subsidiary, as the case may be, to the Issuing Bank as provided in the application and agreement governing such Letter of Credit specifying the date, amount, currency, expiry and beneficiary thereof, accompanied by such documents as the Issuing Bank may specify to the Borrower or LC Subsidiary, as the case may be, in form and substance satisfactory to the Issuing Bank. On the date specified by the Borrower or LC Subsidiary, as the case may be, in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01, the Issuing Bank will Issue such Letter of Credit and shall promptly notify the Agent thereof.
Issuing the Letters of Credit. (a) In order to effect the issuance of a Letter of Credit, Borrower shall submit a Borrowing Request and a LC Application in writing by telecopy to Issuing Bank not later than 1:00 p.m., Dallas, Texas time, three (3) Business Days before the requested date of issuance of such Letter of Credit. Each such Borrowing Request and LC Application shall be signed by Borrower, specify the Business Day on which such Letter of Credit is to be issued, the purpose for the requested Letter of Credit, specify the availability for Letters of Credit under the Available Borrowing Base and the $20,000,000 aggregate LC Obligation limitation as of the date of issuance of such Letter of Credit, the expiry date thereof which shall not be later than the earlier of (i) twelve (12) months from the date of issuance of such Letter of Credit and (ii) five (5) days prior to the Termination Date
Issuing the Letters of Credit. Each Letter of Credit shall be issued on at least five Business Days' notice from the Borrower to the Issuing Bank specifying the Borrower and the date, amount, expiry, and beneficiary thereof, accompanied by such application and agreement for the letter of credit and other documents as the Issuing Bank may specify to such Borrower, each in form and substance satisfactory to the Issuing Bank. On the date specified by the Borrower in such notice and upon fulfillment of the applicable conditions set forth in Section 3.01 and Article V, the Issuing Bank will Issue such Letter of Credit in the form specified in such notice and such application and agreement for letter of credit and shall promptly notify the Agent thereof.
Issuing the Letters of Credit. The Borrower shall, at least five (5) Business Days prior to an Issuance Date, deliver an Issuance Request to the Agent in writing addressed to the Agent. Each Issuance Request shall be effective on receipt by the Agent and shall be irrevocable. On the Issuance Date and upon fulfillment of the applicable conditions set forth in Article V, the Letter of Credit shall be issued. Notwithstanding anything to the contrary contained herein, the Issuing Lender shall have no obligation to issue a Letter of Credit if (a) a Default or Event of Default has occurred and is continuing, (b), after giving effect to such issuance, the L/C Obligations would exceed the L/C Commitment or (c) after giving effect to the issuance of such Letter of Credit, the sum of the outstanding L/C Obligations and the aggregate principal amount of all outstanding Revolving Loans would exceed the Aggregate Tranche A Loan Commitment. Each Letter of Credit shall be in a Minimum Borrowing Amount and no Letter of Credit shall have a Termination Date later than thirty (30) days prior to the Maturity Date.
