Condition to Advance Clause Samples

Condition to Advance. The Operating Lender shall only be required to issue a Letter of Credit if the following conditions have been satisfied: (i) the Operating Lender shall have received an originally executed LC Application, satisfactory to the Operating Lender, acting reasonably, specifying: (A) the proposed date of issuance (which shall be a Business Day at least two (2) Business Days following the date of such request); (B) the expiry date thereof; (C) the name and address of the beneficiary thereof; (D) whether the Letter of Credit is a Financial LC or a Performance LC; provided that in the case of any dispute, the Operating Lender shall determine whether a Letter of Credit is a Financial LC or a Performance LC in accordance with its usual and customary practices; (E) the face amount and currency thereof; and (F) the terms and conditions of the requested Letter of Credit and other relevant details; and (ii) the Operating Lender shall have received such other customary administrative documents as it shall have reasonably requested as a condition to the issuance of such Letter of Credit. In the event of any conflict or inconsistency between the terms of an LC Application and such other documents and this Agreement, the terms of this Agreement shall prevail and any liability of the Borrower in respect of Letters of Credit shall be governed by this Agreement irrespective of the provisions of any LC Application or such other documents.