Common use of L/C Applications Clause in Contracts

L/C Applications. The Company shall give notice to the Agent ---------------- (which shall promptly inform BofA) of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and BofA shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and BofA, together with such other documentation as the Agent or BofA may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA has not received written notice that the conditions precedent set forth in Section 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfied (and does not have knowledge of any default in the payment of any principal, interest or fees to be paid to the Agent for the account of the Banks), BofA shall issue such Letter of Credit on the requested issuance date.

Appears in 2 contracts

Samples: Credit Agreement (United Rentals Inc), Credit Agreement (United Rentals Inc)

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L/C Applications. The Company shall give notice to the Agent ---------------- (which shall promptly inform BofA) and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and BofA such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and BofAthe applicable Issuing Bank, together with such other documentation as the Agent or BofA such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA the applicable Issuing Bank has not received written notice that the conditions precedent set forth in Section SECTION 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfied (and does not have knowledge of any default in the payment of any principalsatisfied, interest or fees to be paid to the Agent for the account of the Banks), BofA such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 2 contracts

Samples: Credit Agreement (U S Liquids Inc), Credit Agreement (U S Liquids Inc)

L/C Applications. The Company shall give notice to the Agent ---------------- (which shall promptly inform BofA) and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and BofA such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and BofAthe applicable Issuing Bank, together with such other documentation as the Agent or BofA such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA the applicable Issuing Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfied (and does not have knowledge of any default in the payment of any principalsatisfied, interest or fees to be paid to the Agent for the account of the Banks), BofA such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

L/C Applications. The Company shall give notice to the Agent ---------------- (which shall promptly inform BofA) and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and BofA such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and BofAthe applicable Issuing Bank, together with such other documentation as the Agent or BofA such Issuing Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA the applicable Issuing Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfied (and does not have knowledge of any default in the payment of any principalsatisfied, interest or fees to be paid to the Agent for the account of the Banks), BofA such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (Santi Group Inc /Ga)

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L/C Applications. The Company shall give notice to the Agent and ---------------- (which shall promptly inform BofA) the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Agent and BofA such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Agent and BofAthe applicable Issuing Bank, together with such other documentation as the Agent or BofA such Issuing Bank may request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA the applicable Issuing Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the ---------- issuance of such Letter of ---------- Credit have not been satisfied (and does not have knowledge of any default in the payment of any principalsatisfied, interest or fees to be paid to the Agent for the account of the Banks), BofA such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (United Road Services Inc)

L/C Applications. The Company shall give notice to the Administrative Agent ---------------- (which shall promptly inform BofA) and the applicable Issuing Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as the Administrative Agent and BofA such Issuing Bank shall agree in any particular instance) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company (together with any Subsidiary for the account of which the related Letter of Credit is to be issued) and in all respects satisfactory to the Administrative Agent and BofAthe applicable Issuing Bank, together with such other documentation as the Administrative Agent or BofA such Issuing Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than seven days prior to the Revolving Termination Date) and whether such Letter of Credit is to be transferable in whole or in part. So long as BofA the applicable Issuing Bank has not received written notice that the conditions precedent set forth in Section 11 with respect to the ---------- issuance of such Letter of Credit have not been satisfied (and does not have knowledge of any default in the payment of any principalsatisfied, interest or fees to be paid to the Agent for the account of the Banks), BofA such Issuing Bank shall issue such Letter of Credit on the requested issuance date. Each Issuing Bank shall promptly advise the Administrative Agent of the issuance of each Letter of Credit by such Issuing Bank and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder.

Appears in 1 contract

Samples: Credit Agreement (Synagro Technologies Inc)

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