Common use of Issuance of the Letter of Credit Clause in Contracts

Issuance of the Letter of Credit. 2.2.1.1 Subject to the terms and conditions set forth in this Agreement and the applicable LC Application, each LC Issuing Bank shall, during the Availability Period on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue Letters of Credit, extend the expiry date of any Letter of Credit or increase the Stated Amount of any Letter of Credit (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the expiry date thereof or increase in the Stated Amount thereof) to the applicable LC Beneficiary. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the applicable LC Application, the terms and conditions of this Agreement shall control.

Issuance of the Letter of Credit. 2.2.1.1 Subject to the terms and conditions set forth in this Agreement and the applicable LC Application, each LC Issuing Bank shall, during the Availability Period on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue Letters of Credit, extend the expiry date of any Letter of Credit or increase or decrease the Stated Amount of any Letter of Credit (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the expiry date thereof or increase or decrease in the Stated Amount thereof) to the applicable LC Beneficiary. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the applicable LC Application, the terms and conditions of this Agreement shall control.

Issuance of the Letter of Credit. 2.2.1.1 Subject to the terms and conditions set forth in this Agreement and the applicable LC Application, each LC Issuing Bank shall, during the Availability Period on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue Letters of Credit, extend the expiry date of any Letter of Credit or increase the Stated Amount of any Letter of Credit (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the expiry date thereof or increase in the Stated Amount thereof) to the applicable LC Beneficiary. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the applicable LC Application, the terms and conditions of this Agreement shall control.