Application Required. If the Applicant wishes the Issuing Bank (on behalf of the Banks) to issue a Letter of Credit, it must make an Application and give it to the Agent not later than 10:00 a.m. London Time 4 Banking Days before the proposed Issuance Date. Each Application shall:
Appears in 2 contracts
Sources: Credit Facility Agreement, Credit Facility Agreement (Max Capital Group Ltd.)
Application Required. If the Applicant wishes the Issuing Bank (on behalf of the Banks) to issue a Letter of Credit, it must make an Application and give it to the Agent not later than 10:00 a.m. London Time 4 Banking Days before the proposed Issuance Date. Each Application shall:
3.3.1 be effective on receipt by the Agent;
3.3.2 constitute a representation and warranty in the terms of Clause 12; and
3.3.3 be irrevocable.
Appears in 1 contract
Application Required. If the Applicant wishes the Issuing Bank (on behalf of the Banks) to issue or amend a Letter of Credit, it must make an Application and give it to the Agent not later than 10:00 a.m. London Time 4 Banking Days before the proposed Issuance Date. Each Application shall:
Appears in 1 contract
Sources: Credit Facility Agreement (ALTERRA CAPITAL HOLDINGS LTD)