Common use of Issuance Procedure Clause in Contracts

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower (or the Company on behalf of the applicable Borrower) shall hand deliver or fax a notice (specifying the information required by Section 2.05(b) of the Credit Agreement) to the Issuing Bank, at its address or fax number specified on Schedule I hereto (or such other address or fax number as the Issuing Bank may specify by notice to the Company), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower (or the Company on behalf of the applicable Borrower) to the Administrative Agent in the manner specified for Borrowing Requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c) of the Credit Agreement.

Appears in 7 contracts

Samples: Assignment and Assumption (Exelis Inc.), Assignment and Assumption (Exelis Inc.), Credit Facility Agreement (ITT Corp)

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Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower Account Party (or the Company ITT on behalf of the applicable BorrowerAccount Party) shall hand deliver or fax telecopy a notice (specifying the information required by Section 2.05(b2.23(b) of the Credit Agreement) to the Issuing Bank, at its address or fax telecopy number specified on Schedule I hereto (or such other address or fax telecopy number as the Issuing Bank may specify by notice to the CompanyITT), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower Account Party (or the Company ITT on behalf of the applicable BorrowerAccount Party) to the Administrative Agent in the manner specified for Borrowing Requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.23(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.23(c) of the Credit Agreement.

Appears in 3 contracts

Samples: Borrowing Subsidiary Agreement (Itt Corp /Nv/), Credit Facility Agreement (Itt Industries Inc), Itt Industries Inc

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower (or the Company on behalf of the applicable Borrower) shall hand deliver deliver, fax, telecopy or fax transmit via electronic means (in a form acceptable to the Issuing Bank) a notice (specifying the information required by Section 2.05(b2.06(b) of the Credit Agreement) to the Issuing Bank, Bank at its address or fax telecopy number specified on Schedule I hereto (or such other address or fax telecopy number as the Issuing Bank may specify by notice to the CompanyBorrower), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower (or the Company on behalf of the applicable Borrower) to the Administrative Agent in the manner specified for Borrowing Requests borrowing requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone facsimile or e-mail in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.06(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.06(c) of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (YRC Worldwide Inc.)

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower Account Party (or the Company ASI on behalf of the applicable BorrowerAccount Party) shall hand deliver or fax telecopy a notice (specifying the information required by Section 2.05(b2.19(b) of the Credit Agreement) to the Issuing Bank, at its address or fax telecopy number specified on Schedule I hereto (or such other address or fax telecopy number as the Issuing Bank may specify by notice to the CompanyASI), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower Account Party (or the Company ASI on behalf of the applicable BorrowerAccount Party) to the Administrative Agent in the manner specified for Borrowing Requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.19(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.19(c) of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Standard Companies Inc)

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower (or the Company on behalf of the applicable Borrower) shall hand deliver or fax a notice (specifying the information required by Section 2.05(b2.04(b) of the Credit Agreement) to the Issuing Bank, at its address or fax number specified on Schedule I hereto (or such other address or fax number as the Issuing Bank may specify by notice to the Company), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower (or the Company on behalf of the applicable Borrower) to the Administrative Agent in the manner specified for Borrowing Requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.04(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.04(c) of the Credit Agreement.

Appears in 1 contract

Samples: Assignment and Assumption (Xylem Inc.)

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Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower (or the Company on behalf of the applicable Borrower) shall hand deliver deliver, fax, telecopy or fax transmit via electronic means (in a form acceptable to the Issuing Bank) a notice (specifying the information required by Section 2.05(b) of the Credit Agreement) to the Issuing Bank, Bank at its address or fax telecopy number specified on Schedule I hereto (or such other address or fax telecopy number as the Issuing Bank may specify by notice to the Company), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower (or the Company on behalf of the applicable Borrower) to the Administrative Agent in the manner specified for Borrowing Requests borrowing requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone facsimile or e-mail in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c) of the Credit Agreement.

Appears in 1 contract

Samples: Security Agreement (Schulman a Inc)

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Requesting Borrower (or the Company on behalf of the applicable Borrower) shall hand deliver deliver, fax, telecopy or fax transmit via electronic means (in a form acceptable to the Issuing Bank) a notice (specifying the information required by Section 2.05(b2.06(b) of the Revolving Credit Agreement) to the Issuing Bank, at its address, telecopy number or electronic address or fax number specified on Schedule I hereto (or such other address, telecopy number or electronic address or fax number as the Issuing Bank may specify by notice to the CompanyBorrowers), not later than the time of day (local time at such address) ), and number of days, specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Requesting Borrower (or the Company on behalf of the applicable Borrower) to the Administrative Agent in the manner specified for Borrowing Requests borrowing requests under the Revolving Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.06(b) of the Revolving Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.06(c) of the Revolving Credit Agreement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freeport McMoran Copper & Gold Inc)

Issuance Procedure. In order to request the issuance of a Letter of Credit hereunder, the applicable Borrower Account Party (or the Company ASI on behalf of the applicable BorrowerAccount Party) shall hand deliver or fax telecopy a notice (specifying the information required by Section 2.05(b2.19(b) of the Credit Agreement) to the Issuing Bank, at its address or fax telecopy number specified on Schedule I hereto (or such other address or fax telecopy number as the Issuing Bank may specify by notice to the CompanyASI), not later than the time of day (local time at such address) specified on Schedule I hereto prior to the proposed date of issuance of such Letter of Credit. A copy of such notice shall be sent, concurrently, by the applicable Borrower Account Party (or the Company ASI on behalf of the applicable BorrowerAccount Party) to the Administrative Agent in the manner specified for Borrowing Requests under the Credit Agreement. Upon receipt of such notice, the Issuing Bank shall consult the Administrative Agent by telephone in order to determine (i) whether the conditions specified in the last sentence of Section 2.05(b2.19(b) of the Credit Agreement will be satisfied in connection with the issuance of such Letter of Credit and (ii) whether the requested expiration date for such Letter of Credit complies with the proviso to Section 2.05(c2.19(c) of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Standard Companies Inc)

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