Common use of Letter of Credit Procedures Clause in Contracts

Letter of Credit Procedures. The Company shall give notice pursuant to a Borrowing Certificate to the Post-Petition Agent (with a copy to the Issuing Lender) of the proposed issuance of each Letter of Credit on a Business Day which is at least two Business Days (or such lesser period as the Issuing Lender may agree) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by a Letter of Credit Application, duly executed by the Company and in all respects reasonably satisfactory to the Issuing Lender, together with such other documentation as the Issuing Lender may reasonably request in support thereof, it being understood that each Letter of Credit 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 one year after the issuance date thereof) and whether such Letter of Credit is to be transferable in whole or in part. So long as the Commitment to issue Letters of Credit has not terminated and the Issuing Lender has received a Borrowing Certificate with respect thereto and subject to satisfaction of the other conditions precedent set forth in SECTION 11 with respect to the issuance of such Letter of Credit, the Issuing Lender shall issue such Letter of Credit on the requested issuance date.

Letter of Credit Procedures. The Company --------------------------- shall give notice pursuant to a Borrowing Certificate to the Post-Petition Agent (Issuing Bank, with a copy to the Issuing Lender) Agent, of the proposed issuance of each Letter of Credit on a Business Day which is at least two five Business Days (or such lesser period as fewer Business Days if agreed to by the Issuing Lender may agreeBank) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by a Letter of Credit Application, duly executed by the Company and in all respects reasonably satisfactory to the Issuing LenderBank, together with such other documentation as the Issuing Lender Bank may reasonably request in support thereof, it being understood that each Letter of Credit Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, issued and the expiration date of such Letter of Credit (which shall not be later than extend beyond the earlier of (a) one year after from the date of issuance date thereofor (b) 30 days prior to the Termination Date). Such notice and whether such Letter of Credit is Application may be delivered to be transferable in whole or in part. So long as the Commitment to issue Letters Issuing Bank and the Agent by facsimile; provided, however, that -------- ------- the original notice and Letter of Credit has not terminated and Application are promptly delivered to the Issuing Lender has received a Borrowing Certificate with respect thereto and subject to satisfaction of the other conditions precedent set forth Bank thereafter, but in SECTION 11 with respect any event prior to the issuance of such Letter of Credit. Subject to the satisfaction of the conditions precedent set forth in Section 4 --------- with respect to the issuance or extension of such Letter of Credit, the Issuing Lender Bank shall issue such Letter of Credit on the requested issuance date. In the event the Company requests that the expiration date of any Letter of Credit be extended, the Company shall notify the Issuing Bank, with a copy to the Agent, in accordance with the applicable notice provision set forth in the Letter of Credit with respect to extensions, or, in the event the Letter of Credit contains no such notice provision, on a Business Day which is at least five Business Days (or fewer Business Days if agreed to by the Issuing Bank) prior to the existing expiration date under the Letter of Credit. Such notice shall be duly executed by the Company and in all respects satisfactory to the Issuing Bank, together with such other documentation as the Issuing Bank may reasonably request in support thereof, and shall state the proposed extended expiration date (which date shall not extend beyond the earlier of (x) one year from the date of such extension or (y) 30 days prior to the Termination Date). Such notice may be delivered to the Issuing Bank and the Agent by facsimile; provided, however, that the -------- ------- original notice is promptly delivered to the Issuing Bank thereafter, but in any event prior to the expiration of the applicable Letter of Credit. Subject to the satisfaction of the conditions precedent set forth in Section 4 with respect to the --------- issuance of Letters of Credit, the issuing Bank shall extend the expiration date of such Letter of Credit to the requested expiration date.

Letter of Credit Procedures. The Company shall give notice pursuant to a Borrowing Certificate to the Post-Petition Agent Issuing Lender (with a copy to the Issuing LenderAgent) of the proposed issuance of each Letter of Credit (other than an Existing Letter of Credit) on a Business Day which is at least two Business Days (or such lesser period as the Issuing Lender may agree) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by a Letter of Credit Application, duly executed by the Company and in all respects reasonably satisfactory to the Issuing Lender, together with such other documentation as the Issuing Lender may reasonably request in support thereof, it being understood that each Letter of Credit 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 earlier of (x) one year after the issuance date thereofthereof and (y) thirty days prior to the then-scheduled Revolving Termination Date, unless the Company shall have pledged cash collateral to the Agent therefor in an amount, and pursuant to documentation, reasonably satisfactory to the Required Revolving Lenders and the Agent) and whether such Letter of Credit is to be transferable in whole or in part. So long as Subject to the Commitment to issue Letters of Credit has not terminated and the Issuing Lender has received a Borrowing Certificate with respect thereto and subject to satisfaction of the other conditions precedent set forth in SECTION Section 11 with respect to the issuance of such Letter of Credit, the Issuing Lender shall issue such Letter of Credit on the requested issuance date.