Common use of Notification by Issuing Bank of Drawing Clause in Contracts

Notification by Issuing Bank of Drawing. The Issuing Bank shall notify the Administrative Agent and each Lender promptly after the presentation of any draft and certificate or equivalent documents to the Issuing Bank in connection with any drawing under a Letter of Credit not reimbursed by or on behalf of the Borrower on the date such drawing is made.

Notification by Issuing Bank of Drawing. The Issuing Bank shall notify the Administrative Agent and each Lender promptly after the presentation of any draft and certificate or equivalent documents to the Issuing Bank in connection with any drawing under a Letter of Credit not reimbursed by or on behalf of the Borrower on the date such drawing is made. The Administrative Agent shall notify each Lender of the same promptly after receipt of the aforesaid notice from the Issuing Bank.