Common use of Procedure for Issuance of Letters of Credit Clause in Contracts

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 4 contracts

Samples: Credit Agreement (Quanex Building Products CORP), Credit Agreement (Quanex Building Products CORP), Credit Agreement (Quanex Building Products CORP)

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Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the an Issuing Lender issue a Letter of Credit by delivering to the such Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender or Agent may request. Concurrently with the delivery of an Application to an Issuing Lender, the Borrower shall deliver a copy thereof to the Administrative Agent and the Administrative Agent shall provide notice of such request to the Lenders. Upon receipt of any Letter of Credit Application, the an Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the such Issuing Lender and the BorrowerBorrower (but in no event shall any Issuing Lender be required to issue any Letter of Credit earlier than three Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto). The Promptly after issuance by an Issuing Lender of a Letter of Credit, such Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent to the Borrower. Each Issuing Lender shall promptly notify each Revolving Credit Lender give notice to the Administrative Agent of the issuance of each Letter of Credit issued by such Issuing Lender (including the amount thereof), and upon request by any Lender, furnish to such Revolving Credit Lender shall provide a copy of such Letter of Credit and to the amount Administrative Agent as soon as possible after the date of such Revolving Credit Lender’s participation thereinissuance.

Appears in 3 contracts

Samples: Credit Agreement (Pacific Gas & Electric Co), Credit Agreement (Pg&e Corp), Credit Agreement (Pacific Gas & Electric Co)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that request, upon at least three Business Days’ notice, the Issuing Lender to issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) address specified in subsection 11.2 a Letter of Credit Application thereforApplication, completed to the reasonable satisfaction of the such Issuing Lender, and together with such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application Application, and the other certificates, documents and other papers and information delivered to it in connection therewith therewith, in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the such Letter of Credit requested thereby (but in no event shall earlier than three Business Days after receipt by the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed and by furnishing a copy thereof to the Borrower. Prior to the issuance of any Letter of Credit, the Issuing Lender will confirm with the Administrative Agent that the issuance of such Letter of Credit is permitted pursuant to Section 3 and subsection 6.2. Additionally, the Issuing Lender and the BorrowerBorrower shall inform the Administrative Agent of any modifications made to outstanding Letters of Credit, of any payments made with respect to such Letters of Credit, and of any other information regarding such Letters of Credit as may be reasonably requested by the Administrative Agent, in each case pursuant to procedures established by the Administrative Agent. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of such issuance of each Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and (including the amount of such Revolving Credit Lender’s participation thereinthereof).

Appears in 2 contracts

Samples: Credit Agreement (Napco Security Technologies, Inc), Credit Agreement (Napco Security Systems Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the reasonable satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 2A.1 and Section 3Article V, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit each Lender a copy of such Letter of Credit and the amount of such Revolving Credit each Lender’s 's participation therein, determined in accordance with Section 2A.4(a), all promptly following the issuance of such Letter of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Golf Trust of America Inc), Credit Agreement (Golf Trust of America Inc)

Procedure for Issuance of Letters of Credit. The Borrower Company, ------------------------------------------- on behalf of any Borrower, may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Company, on behalf of such Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent Company, on behalf of such Borrower, a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Revolving Credit Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation 's L/C Participation therein.

Appears in 1 contract

Samples: Credit Agreement (Choice One Communications Inc)

Procedure for Issuance of Letters of Credit. The Borrower BORROWERS may from time to time request that the Issuing Lender ISSUING BANK issue a Letter of Credit LETTER OF CREDIT by delivering to the Issuing Lender ISSUING BANK at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit Application for notices specified herein an APPLICATION therefor, completed to the satisfaction of the Issuing LenderISSUING BANK, and such other certificates, documents and other papers and information as the Issuing Lender or Agent ISSUING BANK may reasonably request. Upon receipt by the ISSUING BANK of any Letter of Credit ApplicationAPPLICATION, the Issuing Lender shall ISSUING BANK will process such Letter of Credit Application APPLICATION and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, promptly issue after determining from the Letter AGENT that issuance of Credit the LETTER OF CREDIT requested thereby will be within the limits imposed by Section 2.6.1, issue such LETTER OF CREDIT not later than ten (10) BUSINESS DAYS after its receipt of the APPLICATION therefor and all such other certificates, documents and other papers and information relating thereto (but in no event shall the Issuing Lender ISSUING BANK be required to issue any Letter of Credit LETTER OF CREDIT earlier than three five (35) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) BUSINESS DAYS after its receipt of the Letter of Credit Application APPLICATION therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit LETTER OF CREDIT to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender ISSUING BANK and the BorrowerBORROWERS. The Issuing Lender XXXXXX CO. L/C shall be issued at CLOSING notwithstanding the failure to comply with the notice requirements set forth herein. The ISSUING BANK shall promptly after issuing a LETTER OF CREDIT furnish copies thereof to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinBORROWERS.

Appears in 1 contract

Samples: Credit Agreement (Dover Motorsports Inc)

Procedure for Issuance of Letters of Credit. The Borrower Company may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to and the Administrative Agent at Agent’s Officetheir respective addresses for notices specified herein a commercial letter of credit application in the Issuing Lender's then customary form (a "Trade L/C Application") or a Letter standby letter of Credit Application thereforcredit application in the Issuing Lender's then customary form (a "Standby L/C Application"), as the case may be, in each case completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as may be customary for letters of credit of the kind being requested and as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject to Section 2.15(a) and Section 3upon receipt by the Issuing Lender of confirmation from the Administrative Agent that issuance of such Letter of Credit will not contravene subsection 3.1, the Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerCompany. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Company and the Administrative Agent shall promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (International Wire Group Inc)

Procedure for Issuance of Letters of Credit. The Any Borrower may from time to time request that the an Issuing Lender issue a Letter of Credit at any time during the Commitment Period by delivering to the such Issuing Lender at its applicable office (with a copy to Agent the Administrative Agent) at Agent’s Office) a Letter of Credit its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter (or, in the case of Letters of Credit to be denominated in Dollars (or Optional Currencies, four (4) Business Days for any Letter of Credit to be denominated in an Alternative CurrencyDays) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender and the relevant Borrower. The Each Issuing Lender shall promptly furnish to the Borrower Company and the Administrative Agent a copy of such each Letter of Credit and Agent shall issued by such Issuing Lender, promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (Hexcel Corp /De/)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender and the Administrative Agent, at its applicable office (with a copy to Agent at Agent’s Office) their respective addresses for notices specified herein, a Letter of Credit Application Request therefor, completed to the satisfaction of the Issuing Lender, and such other applications, certificates, documents and other papers and information as the Issuing Lender may request (collectively, the “Letter of Credit Application”). Any such Letter of Credit Request must be received by the Issuing Lender and the Administrative Agent by no later than 12:00 noon (New York City time), two (2) Business Days prior to the date such Letter of Credit is to be issued or Agent may requestamended, or such other time as previously agreed between the Issuing Lender and the Borrower. Upon receipt of any Letter of Credit ApplicationRequest, the Issuing Lender shall will process such Letter of Credit Application Request and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) the terms and Section 3conditions set forth herein, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three two (32) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application Request therefor and all such other applications, certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and Agent shall is required to promptly notify each Revolving Credit Lender of the such issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Loan and Servicing Agreement (Newell Brands Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit, on behalf of the Borrower or on behalf of any of its Subsidiaries; provided that for any Letter of Credit issued on behalf of any of its Subsidiaries, the Borrower shall be the applicant with the Subsidiary as the co-applicant, by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's address, an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three two (32) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance of such Letter of Credit and upon request by from any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of each Lender's L/C Participation therein, all promptly following the issuance of such Revolving Credit Lender’s participation thereinLetter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Gt Interactive Software Corp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the any Issuing Lender issue a Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) by delivering to the such Issuing Lender at its applicable any Issuing Lender's office (with a copy at any address mutually acceptable to Agent at Agent’s Office) a Letter of Credit the Borrower and such Issuing Lender an Application therefor, including, if applicable, the office of such Issuing Lender's Correspondent, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the such Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI hereof, promptly issue the Letter of Credit (or amend, extend or renew the outstanding Letter of Credit) requested thereby (but in no event shall the any Issuing Lender be required to issue any Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender and the Borrower. The Issuing Within fifteen (15) Business Days after the end of each 16 <PAGE> 17month, the Administrative Agent shall report to each Lender shall promptly furnish to the Borrower and Agent a copy of average daily outstandings for each day in such Letter month for all Letters of Credit and Agent shall promptly notify each Revolving Credit Lender of during the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.previous month. SECTION 3.3

Appears in 1 contract

Samples: Day Credit Agreement (Jones Apparel Group Inc)

Procedure for Issuance of Letters of Credit. (a) The U.S. Borrower may from time to time request that the U.S. Issuing Lender issue a U.S. Letter of Credit by delivering to the U.S. Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the satisfaction of the U.S. Issuing Lender, and such other certificates, documents and other papers and information as the U.S. Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the U.S. Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the U.S. Letter of Credit requested thereby (but in no event shall the U.S. Issuing Lender be required to issue any U.S. Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the U.S. Issuing Lender and the U.S. Borrower. The U.S. Issuing Lender shall furnish a copy of such Letter of Credit to the U.S. Borrower promptly following the issuance thereof. The U.S. Issuing Lender shall promptly furnish to the Borrower and Agent a copy U.S. Administrative Agent, which shall in turn promptly furnish to the U.S. Revolving Lenders, notice of such the issuance of each U.S. Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and (including the amount of such Revolving Credit Lender’s participation thereinthereof).

Appears in 1 contract

Samples: Credit Agreement (International Multifoods Corp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to and the Administrative Agent at Agent’s Officetheir respective addresses for notices specified herein a commercial letter of credit application in the Issuing Lender's then customary form (a "Trade L/C Application") or a Letter standby letter of Credit Application thereforcredit application in the Issuing Lender's then customary form (a "Standby L/C Application"), as the case may be, in each case completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as may be customary for letters of credit of the kind being requested and as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject to Section 2.15(a) and Section 3upon receipt by the Issuing Lender of confirmation from the Administrative Agent that issuance of such Letter of Credit will not contravene subsection 3.1, the Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (International Wire Group Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that request, upon at least three (3) Business Days’ notice, the Issuing Lender to issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) address specified in subsection 11.2 a Letter of Credit Application thereforApplication, completed to the reasonable satisfaction of the such Issuing Lender, and together with such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application Application, and the other certificates, documents and other papers and information delivered to it in connection therewith therewith, in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the such Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt by the Issuing Lender of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed and by furnishing a copy thereof to the Borrower. Prior to the issuance of any Letter of Credit, the Issuing Lender will confirm with the Administrative Agent that the issuance of such Letter of Credit is permitted pursuant to Section 3 and subsection 6.2. Additionally, the Issuing Lender and the BorrowerBorrower shall inform the Administrative Agent of any modifications made to outstanding Letters of Credit, of any payments made with respect to such Letters of Credit, and of any other information regarding such Letters of Credit as may be reasonably requested by the Administrative Agent, in each case pursuant to procedures established by the Administrative Agent. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of such issuance of each Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and (including the amount of such Revolving Credit Lender’s participation therein.thereof). ​

Appears in 1 contract

Samples: Credit Agreement (Napco Security Technologies, Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the any Issuing Lender issue a Letter of Credit by delivering to the such Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the relevant Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, promptly shall issue the Letter of Credit requested thereby not later than four Business Days (or such later date as the Borrower shall request) after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto as such Issuing Lender may reasonably request (but in no event shall the any Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender and the Borrower. The relevant Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall to the Borrower promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (Aftermarket Technology Corp)

Procedure for Issuance of Letters of Credit. The Borrower Guarantor, on behalf of the Borrowers, may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be reasonably agreed by the Issuing Lender and the BorrowerGuarantor, on behalf of the Borrowers. The Issuing Lender shall promptly furnish to the Borrower and Agent Guarantor a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation 's L/C Participation therein.

Appears in 1 contract

Samples: Interconnection Agreement (Knology Holdings Inc /Ga)

Procedure for Issuance of Letters of Credit. The Borrower Company may from ------------------------------------------- time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit L/C Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit L/C Application, the Issuing Lender shall process such Letter of Credit L/C Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 4.1 and Section 36, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit L/C Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerCompany. The Issuing Lender shall promptly furnish to the Borrower and Agent Company a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit each Lender a copy of such Letter of Credit and the amount of such Revolving Credit each Lender’s 's participation therein, all promptly following the issuance of such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (James River Coal Corp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that request, upon at least three (3) Business Days’ notice, the Issuing Lender to issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) address specified in subsection 11.2 a Letter of Credit Application thereforApplication, completed to the reasonable satisfaction of the such Issuing Lender, and together with such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application Application, and the other certificates, documents and other papers and information delivered to it in connection therewith therewith, in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the such Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt by the Issuing Lender of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed and by furnishing a copy thereof to the Borrower. Prior to the issuance of any Letter of Credit, the Issuing Lender will confirm with the Administrative Agent that the issuance of such Letter of Credit is permitted pursuant to Section 3 ​ ​ and subsection 6.2. Additionally, the Issuing Lender and the BorrowerBorrower shall inform the Administrative Agent of any modifications made to outstanding Letters of Credit, of any payments made with respect to such Letters of Credit, and of any other information regarding such Letters of Credit as may be reasonably requested by the Administrative Agent, in each case pursuant to procedures established by the Administrative Agent. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of such issuance of each Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and (including the amount of such Revolving Credit Lender’s participation thereinthereof).

Appears in 1 contract

Samples: Credit Agreement (Napco Security Technologies, Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office the Administrative Agent's Office an Application therefor (with a copy which Application shall be delivered to Agent at the Issuing Lender by the Administrative Agent’s Office) a Letter of Credit Application therefor), completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit each Lender a copy of such Letter of Credit and a statement of the amount of such Revolving Credit each Lender’s 's participation therein, all promptly following the issuance of such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Marshall Industries)

Procedure for Issuance of Letters of Credit. The Borrower Borrowers may from time to time request that the an Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (an Application therefor, with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. In the event of any conflict between the terms hereof and the terms of any Application, the terms hereof shall control. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a3.1(a) and Section 3Article V hereof, promptly issue Issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue Issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing Issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerBorrowers. The Issuing Lender shall, contemporaneously with the Issuance of each Letter of Credit, deliver a copy thereof to the Administrative Agent. The Administrative Agent shall promptly furnish to the Borrower and Agent Company a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance Issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Credit Agreement (Belk Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Bank of America, as Issuing Lender issue a Letter of Credit by delivering to the Bank of America, as Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the reasonable satisfaction of the Bank of America, as Issuing Lender, and such other certificates, documents and other papers and information as the Bank of America, as Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Bank of America, as Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Bank of America, as Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Bank of America, as Issuing Lender and the Borrower. The Bank of America, as Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower promptly following the issuance thereof and Bank of America, as Issuing Lender shall notify the Administrative Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the Administrative Agent will in turn provide notice to each L/C Participant indicating the amount of such Revolving Letter of Credit Lender’s participation thereinto be allocated to such L/C Participant.

Appears in 1 contract

Samples: Credit Agreement (Armor Holdings Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject unless the Issuing Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Credit Lender) prior to the proposed issuance date (i) directing the Issuing Lender not to issue such Letter of Credit as a result of the limitations set forth in Section 2.15(a3.1, or (ii) and that one or more of the applicable conditions specified in Section 35.3 is not then satisfied, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance thereof and upon request by any Revolving Credit Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s 's participation therein.

Appears in 1 contract

Samples: Credit Agreement (Suburban Propane Partners Lp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that request, upon at least three (3) Business Days’ notice, the Issuing Lender to issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) address specified in subsection 11.2 a Letter of Credit Application thereforApplication, completed to the reasonable satisfaction of the such Issuing Lender, and together with such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application Application, and the other certificates, documents and other papers and information delivered to it in connection therewith therewith, in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the such Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt by the Issuing Lender of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed and by furnishing a copy thereof to the Borrower. Prior to the issuance of any Letter of Credit, the Issuing Lender will confirm with the Administrative Agent that the issuance of such Letter of Credit is permitted pursuant to Section 3 and subsection 6.2. Additionally, the Issuing Lender and the BorrowerBorrower shall inform the Administrative Agent of any modifications made to outstanding Letters of Credit, of any payments made with respect to such Letters of Credit, and of any other information regarding such Letters of Credit as may be reasonably requested by the Administrative Agent, in each case pursuant to procedures established by the Administrative Agent. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of such issuance of each Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and (including the amount of such Revolving Credit Lender’s participation thereinthereof).

Appears in 1 contract

Samples: Credit Agreement (Napco Security Technologies, Inc)

Procedure for Issuance of Letters of Credit. The Borrower Company may from time to time request that the Issuing Lender issue a Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) by delivering to the Issuing Lender at its applicable office (with a copy any address mutually acceptable to Agent at Agent’s Office) a Letter of Credit the Company and the Issuing Lender an L/C Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may reasonably request. The L/C Application will contain a representation and warranty that the conditions specified in Section 4.2 hereof have been satisfied or waived in writing by the Administrative Agent may requeston behalf of the Required Lenders as of the date of the L/C Application. Upon receipt of any Letter of Credit L/C Application, the Issuing Lender shall process such Letter of Credit L/C Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to this Section 2.15(a) and Section 3the other terms herein, promptly issue the Letter of Credit (or amend, extend or renew the outstanding Letter of Credit) requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit L/C Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerCompany. Within fifteen (15) Business Days after the end of each calendar quarter, the Issuing Lender (or the Administrative Agent if the Administrative Agent agrees to undertake such action) shall report to each Lender all Letters of Credit issued by it during the previous calendar quarter and the average daily undrawn and unexpired amounts for all Letters of Credit for each day in such calendar quarter. The Issuing Lender (or the Administrative Agent if the Administrative Agent agrees to undertake such action) shall promptly furnish to calculate the Borrower and Agent a copy Dollar Equivalent of such each outstanding Letter of Credit denominated in any Foreign Currency as of each Revaluation Date and shall notify the Administrative Agent shall promptly notify each Revolving Credit Lender of and the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy Company of such Letter calculation, and such calculation shall be the basis of Credit and any determination of the amount of outstanding L/C Obligations for purposes hereof until the next such Revolving Credit Lender’s participation thereincalculation.

Appears in 1 contract

Samples: Credit Agreement (Checkpoint Systems Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to and the Administrative Agent at Agent’s Officetheir respective addresses for notices specified herein a commercial letter of credit application in the Issuing Lender's then customary form (a "Trade L/C Application") or a Letter standby letter of Credit Application thereforcredit application in the Issuing Lender's then customary form (a "Standby L/C Application"), as the case may be, in each case completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as may be customary for letters of credit of the kind being requested and as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject to upon receipt by the Issuing Lender of confirmation from the Administrative Agent that issuance of such Letter of Credit will not contravene Section 2.15(a) and Section 33.1, the Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall promptly notify following the issuance thereof and to each Revolving Credit Lender promptly following the end of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereineach month.

Appears in 1 contract

Samples: Credit Agreement (Cooperative Computing Inc /De/)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may requestrequest (which information shall include the Permitted Currency in which the Letter of Credit shall be denominated). Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than (a) three (3) Business Days for any Days, with respect to a Letter of Credit to be denominated in Dollars Dollars, and (or b) four (4) Business Days for any Days, with respect to an Alternative Currency Letter of Credit to be denominated in an Alternative Currency) Credit, after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein's L/C Participation therein by telecopier (or by telephone promptly confirmed by telecopier).

Appears in 1 contract

Samples: Credit Agreement (DRS Technologies Inc)

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Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that Xxxxx Fargo, as the Issuing Lender Lender, issue a Letter of Credit by delivering to the such Issuing Lender at its applicable office (with a copy to Agent the Administrative Agent) at the Administrative Agent’s Office) Office a Letter of Credit Application therefor, completed to the satisfaction of the such Issuing Lender, and such other certificates, documents and other papers and information as the such Issuing Lender or the Administrative Agent may request. Upon receipt of any Letter of Credit Application, the such Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 36.2, promptly issue the Letter of Credit requested thereby (but in no event shall the such Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter such shorter period of Credit to time as may be denominated in an Alternative Currencyagreed by the Issuing Lender) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender and the Borrower. The applicable Issuing Lender shall promptly furnish to the Borrower and the Administrative Agent a copy of such Letter of Credit and the Administrative Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Revolving Credit Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Credit Agreement (Us Ecology, Inc.)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit the Issuing Lender's Lending Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may requestrequest (which information shall include the Permitted Currency in which the Letter of Credit shall be denominated). Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than (a) three (3) Business Days for any Days, with respect to a Letter of Credit to be denominated in Dollars Dollars, and (or b) four (4) Business Days for any Days, with respect to an Alternative Currency Letter of Credit to be denominated in an Alternative Currency) Credit, after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s 's participation therein. If the Issuing Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) in sufficient time to permit the Issuing Lender, through the exercise of commercially reasonable efforts, to stop the issuance of any Letter of Credit requested by the Borrower (A) directing the Issuing Lender not to issue such Letter of Credit as a result of the limitations set forth in the proviso to the first sentence of Section 3.1(a), or (B) that one or more of the applicable conditions specified in Article VI is not then satisfied, then the Issuing Lender will not issue such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) 's Office a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s 's participation therein.

Appears in 1 contract

Samples: Credit Agreement (Restaurant Co)

Procedure for Issuance of Letters of Credit. The Borrower Borrowers may from time to time request that the any Issuing Lender Bank issue a Letter of Credit by the Administrative Borrower delivering to the Issuing Lender at its applicable office (with a copy to Agent at Administrative Agent’s Office) Office a Letter of Credit Application therefortherefor to such Issuing Bank, completed to the satisfaction of the such Issuing LenderBank, and such other certificates, documents and other papers and information as such Issuing Bank or the Issuing Lender or Administrative Agent may request. Upon receipt of any Letter of Credit Application, the such Issuing Lender Bank shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V, promptly issue the Letter of Credit requested thereby (but in no event shall the such Issuing Lender Bank be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating CREDIT AGREEMENT AMONG CIT FINANCE LLC, THE LENDERS, BROADVIEW NETWORKS HOLDINGS, AND CERTAIN SUBSIDIARIES thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender Bank and the BorrowerBorrowers. The Such Issuing Lender Bank shall promptly furnish to the Administrative Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Credit Agreement (Broadview Networks Holdings Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the applicable Issuing Lender issue a Letter of Credit by delivering to the applicable Issuing Lender at its the applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit Lending Office an Application therefor, completed to the satisfaction of the applicable Issuing Lender, and such other certificates, documents and other papers and information as the applicable Issuing Lender or Agent may requestrequest (which information shall include the Permitted Currency in which the Letter of Credit shall be denominated). Upon receipt of any Letter of Credit Application, the applicable Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the applicable Issuing Lender be required to issue any Letter of Credit earlier than (a) three (3) Business Days for any Days, with respect to a Letter of Credit to be denominated in Dollars Dollars, and (or b) four (4) Business Days for any Days, with respect to an Alternative Currency Letter of Credit to be denominated in an Alternative Currency) Credit, after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the applicable Issuing Lender and the Borrower. The applicable Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s 's participation therein.

Appears in 1 contract

Samples: Credit Agreement (Wackenhut Corrections Corp)

Procedure for Issuance of Letters of Credit. The Borrower Borrowers ------------------------------------------- may from time to time request that the Issuing Lender issue a Letter of Credit, or request that a Letter of Credit be amended or extended, by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) a Letter of Credit 's Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V hereof, ----------- --------- promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any standby Letter of Credit earlier than three (3) Business Days for Days, or any documentary Letter of Credit to be denominated in Dollars earlier than one (or four (41) Business Days for any Letter of Credit to be denominated in an Alternative Currency) Day, after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerBorrowers. The Issuing Lender shall promptly furnish to the Borrower and Agent Borrowers a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance issuance, and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s 's participation therein.

Appears in 1 contract

Samples: Credit Agreement (Urban Outfitters Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to and the Administrative Agent at Agent’s Officetheir respective addresses for notices specified herein a commercial letter of credit application in the Issuing Lender's then customary form (a "Trade L/C Application") or a Letter standby letter of Credit Application thereforcredit application in the Issuing Lender's then customary form (a "Standby L/C Application"), as the case may be, in each case completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as may be customary for letters of credit of the kind being requested and as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject to upon receipt by the Issuing Lender of confirmation from the Administrative Agent that issuance of such Letter of Credit will not contravene Section 2.15(a) and Section 33.1, the Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall promptly notify each Revolving Credit Lender of following the issuance thereof and upon request by any Lender, furnish to such Revolving Credit each Lender a copy promptly following the end of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereineach month.

Appears in 1 contract

Samples: Credit Agreement (Activant Solutions Inc /De/)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to and the Administrative Agent at Agent’s Officetheir respective addresses for notices specified herein a commercial letter of credit application in the Issuing Lender's then customary form (a "Trade L/C Application") or a Letter standby letter of Credit Application thereforcredit application in the Issuing Lender's then customary form (a "Standby L/C Application"), as the case may be, in each case completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as may be customary for letters of credit of the kind being requested and as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shalland, subject to upon receipt by the Issuing Lender of confirmation from the Administrative Agent that issuance of such Letter of Credit will not contravene Section 2.15(a) and Section 33.1, the Issuing Lender shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall promptly notify each Revolving Credit Lender of following the issuance thereof and upon request by any Lender, furnish to such Revolving Credit each Lender a copy promptly following the end of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereineach month.

Appears in 1 contract

Samples: Credit Agreement (Cooperative Computing Inc /De/)

Procedure for Issuance of Letters of Credit. The U.S. Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender, at the office of the Issuing Lender at its applicable office (specified in or determined in accordance with a copy to Agent at Agent’s Office) Section 11.1, a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may requestrequest (which information shall include the Permitted Currency in which such Letter of Credit shall be denominated). Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the U.S. Borrower. The Issuing Lender shall promptly furnish to the U.S. Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Procedure for Issuance of Letters of Credit. The Borrower or any Subsidiary Guarantor may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the reasonable satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerBorrower or the respective Subsidiary Guarantor. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and/or to the respective Subsidiary Guarantor promptly following the issuance thereof, and Agent shall promptly notify each Revolving Credit Lender the Lenders of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (Landstar System Inc)

Procedure for Issuance of Letters of Credit. The Borrower may ------------------------------------------- from time to time request that the Issuing Lender issue a Letter of Credit at any time prior to the fifth Business Day prior to the Revolving Loan Termination Date by delivering to the Issuing Lender at its applicable office (with a copy to the Administrative Agent at Agent’s Office) a Letter of Credit its address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may reasonably request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall will process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall (with copies for each Lender) promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (P&l Coal Holdings Corp)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the an Issuing Lender Bank issue a Letter of Credit Credit, at any time prior to the fifth (5th) Business Day prior to the Revolving Loan Maturity Date, by delivering to the such Issuing Lender Bank at its applicable office (address for notices specified herein, with a copy to Agent at the Administrative Agent’s Office) , a Request for Issuance of Letter of Credit Application thereforCredit, completed to the satisfaction of the such Issuing LenderBank, and such other certificates, documents and other papers and information as the such Issuing Lender or Agent Bank may request. Upon receipt of any Request for Issuance of Letter of Credit ApplicationCredit, the applicable Issuing Lender shall Bank will process such the Letter of Credit Application accompanying such Request for Issuance of Letter of Credit, and the certificates, documents and other papers and information delivered to it in connection therewith therewith, in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the any Issuing Lender Bank be required to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the any Request for Issuance of Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the applicable Issuing Lender Bank and the Borrower. The applicable Issuing Lender Bank shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit to the Borrower and the Administrative Agent shall promptly notify each Revolving Credit Lender of following the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation thereinthereof.

Appears in 1 contract

Samples: Credit Agreement (Spectrasite Inc)

Procedure for Issuance of Letters of Credit. The Either Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at the Administrative Agent’s Office) Office a Letter of Credit Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request (which information shall include the currency (Dollars or Agent may requestthe Permitted Foreign L/C Currency) in which the Letter of Credit shall be denominated). Upon receipt of any a completed Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith (the “L/C Support Documents”) in accordance with its customary procedures and, so long as such Letter of Credit Application, the L/C Support Documents and shallany language necessary for the requested Letter of Credit are finalized in form and substance satisfactory to the Issuing Lender (in the sole discretion of the Issuing Lender), subject to Section 2.15(a) 3.1 and Section 3Article VI, promptly the Issuing Lender shall issue the Letter of Credit requested thereby within five (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than three (35) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the applicable Borrower. The Issuing Lender shall promptly furnish to the applicable Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.

Appears in 1 contract

Samples: Credit Agreement (Tekelec)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit on behalf of the Borrower or on behalf of any of its Subsidiaries; provided that for any Letter of Credit issued on behalf of any of its Subsidiaries, the Borrower shall be the applicant with the Subsidiary as the co-applicant by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agent’s Office) a Letter of Credit address for notices specified herein an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may request. Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article V hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any the Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit each Lender a copy of such Letter of Credit and the amount of each Lender's L/C Participation therein, all promptly following the issuance of such Revolving Letter of Credit. To the extent that any provision of any Application related to any Letter of Credit Lender’s participation thereinis inconsistent with the provisions of this Article III, the provisions of this Article III shall apply.

Appears in 1 contract

Samples: Credit Agreement (Rural Metro of Ohio Inc)

Procedure for Issuance of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit by delivering to the Issuing Lender at its applicable office (with a copy to Agent at Agentthe Issuing Lender’s Office) a Letter of Credit Lending Office an Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender or Agent may requestrequest (which information shall include the Permitted Currency in which the Letter of Credit shall be denominated). Upon receipt of any Letter of Credit Application, the Issuing Lender shall process such Letter of Credit Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) 3.1 and Section 3Article VI hereof, promptly issue the Letter of Credit requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit earlier than (a) three (3) Business Days for any Days, with respect to a Letter of Credit to be denominated in Dollars Dollars, and (or b) four (4) Business Days for any Days, with respect to an Alternative Currency Letter of Credit to be denominated in an Alternative Currency) Credit, after its receipt of the Letter of Credit Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein. If the Issuing Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) in sufficient time to permit the Issuing Lender, through the exercise of commercially reasonable efforts, to stop the issuance of any Letter of Credit requested by the Borrower (A) directing the Issuing Lender not to issue such Letter of Credit as a result of the limitations set forth in the proviso to the first sentence of Section 3.1(a), or (B) that one or more of the applicable conditions specified in Article VI is not then satisfied, then the Issuing Lender will not issue such Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Geo Group Inc)

Procedure for Issuance of Letters of Credit. (a) The applicable U.S. Borrower or Canadian Borrower may from time to time request during the RCF Commitment Period but in no event later than the 30th day prior to the then latest Maturity Date with respect to U.S. RCF Commitments or Canadian RCF Commitments that the an Issuing Lender issue a Letter of Credit by delivering to the such Issuing Lender and the U.S. Administrative Agent or the Canadian Administrative Agent, as applicable, at its applicable office their respective addresses for notices specified herein, an L/C Request therefor substantially in the form of Exhibit C hereto (with a copy to Agent at Agent’s Office) a Letter of Credit Application therefor, completed to the reasonable satisfaction of the such Issuing Lender), and such other certificates, documents and other papers and information as the such Issuing Lender or Agent may reasonably request. Each L/C Request shall specify that the requested Letter of Credit is to be denominated in Dollars or, in the case of Letters of Credit issued for the account of the Canadian Borrowers, Canadian Dollars. Upon receipt of any Letter of Credit ApplicationL/C Request, the such Issuing Lender shall will process such Letter of Credit Application L/C Request and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to Section 2.15(a) and Section 3, shall promptly issue the Letter of Credit requested thereby (but in no event shall the an Issuing Lender be required required, unless otherwise agreed to by such Issuing Lender, to issue any Letter of Credit earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit Application L/C Request therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the such Issuing Lender and the Borrower. The Issuing Lender shall promptly furnish to the Borrower and Agent a copy of such Letter of Credit and Agent shall promptly notify each Revolving Credit Lender of the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy of such Letter of Credit and the amount of such Revolving Credit Lender’s participation therein.applicable U.S.

Appears in 1 contract

Samples: Credit Agreement (RSC Equipment Rental, Inc.)

Procedure for Issuance of Letters of Credit. The Borrower Company may from time to time request that the Issuing Lender issue a Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) by delivering to the Issuing Lender at its applicable office (with a copy any address mutually acceptable to Agent at Agent’s Office) a Letter of Credit the Company and the Issuing Lender an L/C Application therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may reasonably request. The L/C Application will contain a representation and warranty that the conditions specified in Section 4.2 hereof have been satisfied or waived in writing by the Administrative Agent may requeston behalf of the Required Lenders as of the date of the L/C Application. Upon receipt of any Letter of Credit L/C Application, the Issuing Lender shall process such Letter of Credit L/C Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall, subject to this Section 2.15(a) and Section 3the other terms herein, promptly issue the Letter of Credit (or amend, extend or renew the outstanding Letter of Credit) requested thereby (but in no event shall the Issuing Lender be required to issue any Letter of Credit (or amend, extend or renew an outstanding Letter of Credit) earlier than three (3) Business Days for any Letter of Credit to be denominated in Dollars (or four (4) Business Days for any Letter of Credit to be denominated in an Alternative Currency) after its receipt of the Letter of Credit L/C Application therefor and all such other certificates, documents and other papers and information relating thereto) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by the Issuing Lender and the BorrowerCompany. Within fifteen (15) Business Days after the end of each calendar quarter, the Issuing Lender (or the Administrative Agent if the Administrative Agent agrees to undertake such action) shall report to each Lender all Letters of Credit issued by it during the previous calendar quarter and the average daily undrawn and unexpired amounts for all Letters of Credit for each day in such calendar quarter. The Issuing Lender (or the Administrative Agent if the Administrative Agent agrees to undertake such action) shall promptly furnish to calculate the Borrower and Agent a copy Dollar Equivalent of such each outstanding Letter of Credit denominated in any Foreign Currency as of each Revaluation Date and shall notify the Administrative Agent shall promptly notify each Revolving Credit Lender of and the issuance and upon request by any Lender, furnish to such Revolving Credit Lender a copy Company of such Letter calculation, and such calculation shall be the basis of Credit and any determination of the amount of outstanding L/C Obligations for purposes hereof until the next such Revolving Credit Lender’s participation therein.calculation. 42

Appears in 1 contract

Samples: Credit Agreement (Checkpoint Systems Inc)

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