Common use of Notice of Borrowing; Letter of Credit Request Clause in Contracts

Notice of Borrowing; Letter of Credit Request. Prior to the making of each Revolving Credit Loan, the Administrative Agent shall have received a Notice of Borrowing (whether in writing or by telephone) meeting the requirements of Section 2.3. Prior to the making of each Swingline Loan, the Swingline Lender shall have received notice meeting the requirements of Section 2.16(b). Prior to the issuance of each Letter of Credit, the Administrative Agent and the applicable Letter of Credit Issuer shall have received a Letter of Credit Request meeting the requirements of Section 3.2(a). The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above exist as of that time.

Appears in 5 contracts

Samples: Revolving Credit Agreement (ITC Holdings Corp.), Revolving Credit Agreement (ITC Holdings Corp.), Revolving Credit Agreement (ITC Holdings Corp.)

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Notice of Borrowing; Letter of Credit Request. Prior to the making of each Revolving Credit Loan, the Administrative Agent shall have received a Notice of Borrowing (whether in writing or by telephone) meeting the requirements of Section 2.3. Prior to the making of each Swingline Loan, the Swingline Lender Administrative Agent shall have received notice meeting the requirements of Section 2.16(b2.15(b). Prior to the issuance of each Letter of Credit, the Administrative Agent and the applicable Letter of Credit Issuer shall have received a Letter of Credit Request meeting the requirements of Section 3.2(a). The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by the Borrower to each of the Lenders that all the applicable conditions specified above exist as of that time.

Appears in 1 contract

Samples: Revolving Credit Agreement (ITC Holdings Corp.)

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Notice of Borrowing; Letter of Credit Request. Prior to the making of each Revolving Credit LoanLoan to such Borrower, the Administrative Agent shall have received a Notice of Borrowing (whether in writing or by telephone) from such Borrower meeting the requirements of Section 2.3. Prior to the making of each Swingline Loan, the Swingline Lender shall have received notice meeting the requirements of Section 2.16(b). Prior to the issuance of each Letter of CreditCredit for account of either Borrower, the Administrative Agent and the applicable Letter of Credit Issuer shall have received a Letter of Credit Request from such Borrower meeting the requirements of Section 3.2(a). The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by the relevant Borrower to each of the Lenders that all the applicable conditions specified above exist as of that time.

Appears in 1 contract

Samples: Revolving Credit Agreement (ITC Holdings Corp.)

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