Issuance of Letter of Credit. Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in subsection 4.3, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender's standard operating procedures.
Issuance of Letter of Credit. Upon the terms, subject to the conditions and relying upon the representations and warranties set forth in this Agreement or incorporated herein by reference, the Issuing Bank agrees to issue the Letter of Credit. The Letter of Credit shall be in the original stated amount of U.S. $20,263,014 (the “Original Stated Amount”), which is the sum of (i) the principal amount of Bonds outstanding on the Closing Date, plus (ii) interest thereon at the Cap Interest Rate for a period of forty (40) days.
Issuance of Letter of Credit. Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with Administrative Agent (by telephone or in writing) that Administrative Agent has received a copy of such Letter of Credit Application from Borrower or account party thereof and, if not, the L/C Issuer will provide Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from Administrative Agent or Borrower at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 5.2 shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of Borrower (or the applicable subsidiary, Joint Venture or Permitted Affiliate) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Letter of Credit.
Issuance of Letter of Credit. Upon satisfaction or waiver (in accordance with subsection 10.6) of the conditions set forth in subsection 4.5, the Issuing Lender shall issue the requested Letter of Credit in accordance with the Issuing Lender's standard operating procedures (any such issuance by Chase Co-Administrative Agent being effected through the Funding and Payment Office), and upon its issuance of such Letter of Credit the Issuing Lender shall promptly notify Chase Co-Administrative Agent and each Lender of such issuance, which notice shall be accompanied by a copy of such Letter of Credit.
Issuance of Letter of Credit. Subject to the terms and conditions hereof, Bank agrees to execute and deliver the Letter of Credit. The obligations of Bank under the Letter of Credit shall be absolute and irrevocable and shall be performed strictly in accordance with the terms of the Letter of Credit and this Reimbursement Agreement.
Issuance of Letter of Credit. Upon satisfaction or waiver (in accordance with Section 10.5) of the conditions set forth in Section 4.3, and upon prior confirmation from the Administrative Agent that the issuance of the requested Letter of Credit would not result in the violation of Section 3.1A(i) or 3.1A(ii), such Issuing Bank shall issue the requested Letter of Credit in accordance with such Issuing Bank’s standard procedures, and upon its issuance of such Letter of Credit such Issuing Bank shall promptly notify the Administrative Agent of such issuance, which notice shall be accompanied by a copy of such Letter of Credit.
Issuance of Letter of Credit. The Bank agrees, on the terms, subject to the conditions and relying on the representations and warranties hereinafter set forth, to issue the Letter of Credit (substantially in the form of Exhibit A hereto) to the Issuing and Paying Agent for the account of the City in the manner provided above. The Letter of Credit shall expire on the Letter of Credit Expiration Date unless earlier terminated in accordance with its terms, or unless extended in accordance with the term thereof.
Issuance of Letter of Credit. On the Closing Date, subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, Administrative Agent shall direct Issuing Bank to issue, and Issuing Bank shall issue, the Letter of Credit for the account of Company. Such Letter of Credit shall be denominated in Dollars. Administrative Agent may assume, as to the Issuing Bank and any Lender, that none of the conditions specified in Section 5.8 are applicable as to such Person, unless Administrative Agent shall have received a notice from such Person specifically entitled “Notice under Section 5.8,” specifying the condition or conditions that are applicable to such Person. Company hereby represents and warrants that none of the conditions specified in Section 5.8 are applicable as to Company.
Issuance of Letter of Credit. Subject to the terms and conditions of this Agreement and the Letter of Credit Request, and subject to the policies, procedures, and requirements of Lender in effect from time to time for the issuance of any letter of credit (including without limitation payment of letter of credit fees), Lender agrees to issue on or before the Maturity Date a Letter of Credit upon request by and for the account of the Borrower, provided that Borrower has delivered to Lender:
Issuance of Letter of Credit. Upon satisfaction or waiver of the conditions set forth herein, Bank shall issue the requested Letter of Credit in accordance with Bank's standard operating procedures; provided that the Bank, in its sole and absolute discretion, may require changes in the text of the proposed Letter of Credit or any such documents or certificates, and that no Letter of Credit shall require payment against a conforming draft to be made thereunder on the same Business Day that such draft is presented if such presentation is made after 10:00 A.M. (Chicago time) on such Business Day; provided further that Bank shall not be obligated to issue any Letter of Credit denominated in a foreign currency which in the judgment of Bank is not readily and freely available.
