Common use of Notice of Issuance or Amendment Clause in Contracts

Notice of Issuance or Amendment. Whenever a Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 A.M. at least three (3) Business Days, or in each case such shorter period as may be agreed to by the Agent in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment and, when added to the then outstanding Letter of Credit Liability and outstanding Loans, would be equal to or less than $8,000,000.00. Unless both such criteria are satisfied, the Agent shall not issue the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, the Letter of Credit Commitment is exceeded, the Borrowers shall immediately establish with the Agent, if not already so established, and deposit into, the Letter of Credit Cash Collateral Account the amount of such excess. Prior to the date of issuance, the Borrowers shall deliver to the Agent an executed application for such Letter of Credit in the form customarily required by the Agent for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent to make payment under the Letter of Credit; provided, that the Agent, in its reasonable judgment, may require changes in any such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day. In determining whether to pay under any Letter of Credit, the Agent shall be responsible only to determine that the documents and certificates required to be delivered under the Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.

Notice of Issuance or Amendment. Whenever a Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers it shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Lender a written notice no later than 11:00 A.M. at least three two (32) Business Days, or in each case such shorter period as may be agreed to by the Agent Lender in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, Credit and (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent Lender shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment Sublimit and, when added to the then outstanding Letter of Credit Liability and outstanding LoansAdvances, would be equal to or less than $8,000,000.00within the Credit Limit. Unless both such criteria are satisfied, the Agent Lender shall not issue or cause to be issued the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent Lender harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, (a) the Letter of Credit Commitment Sublimit is exceeded, the Borrowers shall immediately establish with the AgentLender, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess; and (b) the Credit Limit is exceeded, Borrowers shall immediately repay to Lender the amount of such excess first for application against the Advances, together with accrued interest thereon and then for deposit into the Letter of Credit Cash Collateral Account. Prior to the date of issuance, the Borrowers shall deliver to the Agent Lender an executed application for such Letter of Credit in the form customarily required by the Agent Lender for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.172.12), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent Lender to make payment under the Letter of Credit; provided, that the Agent, in its reasonable judgment, Lender may require reasonable changes in any such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day. In determining whether to pay under any Letter of Credit, the Agent Lender shall be responsible only to determine that the documents and certificates required to be delivered under the Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.

Notice of Issuance or Amendment. Whenever a Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Issuing Bank no later than 11:00 A.M. at least three five (35) Business Days, Days in advance of the proposed date of issuance or in each case such shorter period as may be agreed to by the Agent in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment and, when added to the then outstanding Letter of Credit Liability and outstanding Loans, would be equal to or less than $8,000,000.00. Unless both such criteria are satisfied, the Agent shall not issue the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, the Letter of Credit Commitment is exceeded, the Borrowers shall immediately establish with the Agent, if not already so established, and deposit into, the Letter of Credit Cash Collateral Account the amount of such excess. Prior to the date of issuance, the Borrowers shall deliver to the Agent Issuing Bank an executed application for such Letter of Credit in the form customarily required by the Agent Issuing Bank for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17)credit, and an accompanying written notice which shall specify (1) a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent Issuing Bank to make payment under the Letter of Credit; provided, provided that the AgentIssuing Bank, in its reasonable sole judgment, may require changes in any such documents and certificates; and provided, provided further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day, and (2) whether the Letter of Credit is being issued for the benefit of an Offshore Borrower. On the proposed date of issuance of any Letter of Credit, the Issuing Bank shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Sublimit and, when added to the then outstanding Letter of Credit Liability and outstanding Advances, would be less than the total amount of the Commitments. Unless both such criteria are satisfied, the Issuing Bank shall not issue the requested Letter of Credit. The Banks and the Borrowers shall hold the Issuing Bank harmless for any miscalculations or other errors in making such determinations except that if such miscalculations or other errors resulted from the gross negligence or willful misconduct of the Issuing Bank, the Issuing Bank shall not be entitled to be held harmless under this sentence. In the event that, upon issuance of such proposed Letter of Credit, the Letter of Credit Sublimit is exceeded, the Borrowers shall immediately deposit into the Letter of Credit Cash Collateral Account the amount of such excess. In determining whether to pay under any Letter of Credit, the Agent Issuing Bank shall be responsible only to determine in good faith that the documents and certificates required to be delivered under the that Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one (1) Business Day after receipt of a request for issuance of a Letter of Credit, the Agent Issuing Bank shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 2.19 and shall send each Bank a copy of each Standby Letter of Credit.

Notice of Issuance or Amendment. Whenever a Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers it shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Lender a written notice no later than 11:00 A.M. at least three two (32) Business Days, or in each case such shorter period as may be agreed to by the Agent Lender in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, Credit and (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent Lender shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit LiabilityObligations, would be within the Letter of Credit Commitment Sublimit and, when added to the then outstanding Letter of Credit Liability Obligations and outstanding Revolving Credit Loans, would be equal to or less than $8,000,000.00within the Borrowing Base. Unless both such criteria are satisfied, the Agent Lender shall not issue or cause to be issued the requested Letter of Credit. The Banks and the Borrowers Borrower shall hold the Agent Lender harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, (a) the Letter of Credit Commitment Sublimit is exceeded, the Borrowers Borrower shall immediately establish with the AgentLender, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess; and (b) the Borrowing Base is exceeded, Borrower shall repay the Overadvance in accordance with Section 3.4 hereof. Prior to the date of issuance, the Borrowers Borrower shall deliver to the Agent Lender an executed application for such Letter of Credit in the form customarily required by the Agent for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent to make payment under the Letter of Credit; provided, that the Agent, in its reasonable judgment, may require changes in any such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day. In determining whether to pay under any Letter of Credit, the Agent shall be responsible only to determine that the documents and certificates required to be delivered under the Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.such

Notice of Issuance or Amendment. Whenever a Borrower desires the Borrowers desire the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers they shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Bank a written notice no later than 11:00 A.M. at least three two (32) Business Days, or in each case such shorter period as may be agreed to by the Agent Bank in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, Credit and (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent Bank shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment and, when added to the then outstanding Letter of Credit Liability and outstanding LoansRevolving Credit Advances, would be equal to or less than $8,000,000.00within the Credit Limit. Unless both such criteria are satisfied, the Agent Bank shall not issue or cause to be issued the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent Bank harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, (a) the Letter of Credit Commitment Sublimit is exceeded, the Borrowers shall immediately establish with the AgentBank, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess; and (b) the Credit Limit is exceeded, the Borrowers shall immediately repay to the Bank the amount of such excess first for application against the Revolving Credit Advances, together with accrued interest thereon and any amount which may be due pursuant to SECTION 2.22 on account of such payment and then for deposit into the Letter of Credit Cash Collateral Account. Prior to the date of issuance, the Borrowers shall deliver to the Agent Bank an executed application for such Letter of Credit in the form customarily required by the Agent Bank for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17EXHIBIT 2.28), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent Bank to make payment under the Letter of Credit; providedPROVIDED, that the AgentBank, in its reasonable judgment, may require changes in any such documents and certificates; and providedPROVIDED, furtherFURTHER, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day. In determining whether to pay under any Letter of Credit, the Agent Bank shall be responsible only to determine that the documents and certificates required to be delivered under the Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.

Notice of Issuance or Amendment. Whenever a Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers it shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Lender a written notice no later than 11:00 A.M. at least three two (32) Business Days, or in each case such shorter period as may be agreed to by the Agent Lender in any particular instance, in advance of the proposed date of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the Letter of Credit, (3) the expiration date of the Letter of Credit, (4) the purpose of the Letter of Credit, Credit and (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent Lender shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment Sublimit and, when added to the then outstanding Letter of Credit Liability and outstanding LoansAdvances, would be equal to or less than $8,000,000.00within the Credit Limit. Unless both such criteria are satisfied, the Agent Lender shall not issue or cause to be issued the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent Lender harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, (a) the Letter of Credit Commitment Sublimit is exceeded, the Borrowers shall immediately establish with the AgentLender, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess; and (b) the Credit Limit is exceeded, Borrowers shall immediately repay to Lender the amount of such excess first for application against the Advances, together with accrued interest thereon and then for deposit into the Letter of Credit Cash Collateral Account. Prior to the date of issuance, the Borrowers shall deliver to the Agent Lender an executed application for such Letter of Credit in the form customarily required by the Agent Lender for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.172.11), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent Lender to make payment under the Letter of Credit; provided, that the Agent, in its reasonable judgment, Lender may require reasonable changes in any such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Day. In determining whether to pay under any Letter of Credit, the Agent Lender shall be responsible only to determine that the documents and certificates required to be delivered under the Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.

Notice of Issuance or Amendment. Whenever a Borrower desires Borrowers desire the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers they shall deliver to the office of the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 Issuing Bank a written notice no later than 11:00 A.M. at least three (3) Business Days, or in each case such shorter period as may be agreed to by the Agent Issuing Bank in any particular instance, in advance of the proposed date of issuance. That , which notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the such Letter of Credit, (3) the expiration date of the such Letter of Credit, (4) the purpose of the such Letter of Credit, and (5) whether such Letter of Credit is to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) the name and address of the beneficiary. On the proposed date of issuance of any Letter of Credit, the Agent Issuing Bank shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit LiabilityObligations, would be within the Letter of Credit Commitment Limit and, when added to the then outstanding Letter of Credit Liability Obligations and outstanding LoansRevolving Credit Advances, would be equal to or less than $8,000,000.00within the Revolving Credit Limit. Unless both such criteria are is satisfied, the Agent Issuing Bank shall not issue or cause to be issued the requested Letter of Credit. The Banks and the Borrowers shall hold the Agent Issuing Bank harmless for any miscalculations or other errors in making such determinations. In the event that, upon issuance of such proposed Letter of Credit, the Letter of Credit Commitment Limit is exceeded, the Borrowers shall immediately establish with the Agent, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess. Prior to the date of issuance, the Borrowers shall deliver to the Agent Issuing Bank an executed application for such Letter of Credit in the form customarily required by the Agent Issuing Bank for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17), and specify a precise description of the documents and the verbatim text of any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the such Letter of Credit, would require the Agent Issuing Bank to make payment under the such Letter of Credit; provided, that the AgentIssuing Bank, in its reasonable judgment, may require changes in any such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder under such Letter of Credit on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Daypresented. In determining whether to pay under any Letter of Credit, the Agent Issuing Bank shall be responsible only to determine that the documents and certificates required to be delivered under the that Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.

Notice of Issuance or Amendment. Whenever a the Borrower desires the issuance of a Letter of Credit or the amendment of a Letter of Credit, the Borrowers Borrower shall deliver to the office of Issuing Bank and the Agent at 210 Main Street, Hackensack, New Jxxxxx 00000 x xxxxxxx xxxxxx xx xxxxx xxxx 00:00 no later than 11:00 A.M. at least three five (35) Business Days, Days in advance of the proposed date of issuance or in each case such shorter period as may be agreed to by the Agent Issuing Bank, an executed application for such Letter of Credit in any particular instancethe form customarily required by the Issuing Bank for the issuance of letters of credit and an accompanying written notice which shall (a) with respect to Letters of Credit which are not fully cash collateralized pursuant to Section 2.18(A), in advance contain a statement of the proposed date purpose of issuance. That notice shall specify (1) the proposed date of issuance (which shall be a Business Day), (2) the face amount of the such Letter of Credit, together with an explanation and confirmation that such Letter of Credit is to be used in connection with the acquisition of any specified businesses, properties or assets of any kind or in connection with the amendment, renewal, extension, modification or refunding of the same, and (3b) specify a precise description of the documents and the verbatim text of such Letter of Credit and any certificate to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, (4) would require the purpose of Issuing Bank to make payment under the Letter of Credit; provided that the Issuing Bank, (5) whether in its sole, but reasonable, judgment, may require changes in any such documents and certificates; and provided further that no Letter of Credit is shall require payment against a conforming draft to be a Documentary Letter of Credit or a Stand-by Letter of Credit; and (6) made on the name and address of the beneficiarysame Business Day that such draft is presented if presentation is made after 11:00 A.M. on such Business Day. On the proposed date of issuance of any Letter of Credit, the Agent Issuing Bank shall determine to the best of its knowledge whether the proposed Letter of Credit, when added to the then outstanding Letter of Credit Liability, would be within the Letter of Credit Commitment Sublimit and, when added to the then outstanding Letter of Credit Liability and outstanding LoansAdvances, would be less than or equal to or less than $8,000,000.00. Unless both such criteria are satisfied, the Agent shall not issue the requested Letter of CreditCommitment. The Banks Lenders and the Borrowers Borrower shall hold the Agent Issuing Bank harmless for any miscalculations or other errors in making such determinationsdeterminations except that if such miscalculations or other errors resulted from the bad faith or willful misconduct of the Issuing Bank as determined in a final judgement by a court of competent jurisdiction or a settlement tantamount to such formal decision, the Issuing Bank shall not be entitled to be held harmless under this sentence. In the event that, upon issuance of such proposed Letter of Credit, (1) the Letter of Credit Commitment Sublimit is exceeded, the Borrowers Borrower shall immediately establish the Letter of Credit Cash Collateral Account with the Agent, if not already so established, and deposit into, into the Letter of Credit Cash Collateral Account the amount of such excess. Prior to ; and (2) the date of issuance, outstanding Advances plus the Borrowers shall deliver to the Agent an executed application for such Letter of Credit in Liability exceed the form customarily required by Commitment, the Agent for the issuance of letters of credit (the current version of such form is attached hereto as Exhibit 2.17), and specify a precise description of the documents and the verbatim text of any certificate Borrower shall immediately repay to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of the Letter of Credit, would require the Agent to make payment under the Letter of Credit; provided, that the Agent, in its reasonable judgmentfor the benefit of the Lenders, the amount of such excess for application against the Advances, together with accrued interest thereon and any amount which may require changes in any be due pursuant to Section 2.16 on account of such documents and certificates; and provided, further, that no Letter of Credit shall require payment against a conforming draft to be made hereunder on the same Business Day that such draft is presented if such presentation is made after 11:00 A.M. on such Business Daypayment. In determining whether to pay under any Letter of Credit, the Agent Issuing Bank shall be responsible only to determine in good faith that the documents and certificates required to be delivered under the that Letter of Credit have been delivered and that they comply on their face with the requirements of that Letter of Credit. Within one Business Day after receipt of a request for issuance of a Letter of Credit, the Agent shall notify each other Bank of the proposed issuance and the amount of each such Bank's respective participation therein determined in accordance with this Section 2.17 and shall send each Bank a copy of each Letter of Credit.