Common use of Request for Letters of Credit Clause in Contracts

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days’ prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that Xxxxxx arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender or the Bank Line Issuer asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. In the event that Borrower seeks the issuance of a Letter of Credit through a Bank Line Issuer or an Issuing Lender other than Xxxxxx, the issuance of such Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters of Credit and any related fees and expenses. Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the application or reimbursement agreement, if any, then required by the Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Each Borrower shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs a Borrower that an Issuing Lender the L/C Issuer cannot issue the requested Letter of Credit directly, such Borrower may request that Xxxxxx L/C Issuer arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx Agent, L/C Issuer and Parent Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender L/C Issuer and Agent. If L/C Issuer receives written notice from Agent or the Bank Line Issuer asked to issue such Letter of Credit and, in Requisite Lenders on or before the case of standby letters of credit, Agent. In the event that Borrower seeks the Business Day preceding issuance of a Letter of Credit through a Bank Line that any conditions set forth in Section 7.2 have not been satisfied, L/C Issuer shall have no obligation to issue and, upon direction by the Agent or an Issuing Lender other than Xxxxxxthe Requisite Lenders shall not issue, the issuance of such requested Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or any other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters Letter of Credit and until such direction is withdrawn in writing by Agent or the Requisite Lenders, as applicable. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any related fees and expensesDefault, Event of Default or failure of such conditions. Any The initial notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s reimbursement agreement and an application or reimbursement agreementfor a letter of credit, if any, then required by the Issuing Lender or Bank Line L/C Issuer asked to issue such Letter of Credit completed in a manner reasonably satisfactory to such Issuing Lender or Bank Line L/C Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control. L/C Issuer shall have no obligation to issue the requested Letter of Credit or any other Letter of Credit if at such time any Lender is a Non-Funding Lender, unless the L/C Issuer has entered into arrangements satisfactory to the L/C Issuer with the Borrowers or such Lender to eliminate the L/C Issuer’s risk with respect to such Lender or the L/C Issuer has received Cash Collateral from either the Borrowers or such Non-Funding Lender in relation to an amount equal to such Non-Funding Lender’s obligation to fund under Section 1.1(c)(ii). The Borrowers and/or such Non-Funding Lender hereby grants to the Agent, for the benefit of the L/C Issuer, a security interest in all such Cash Collateral and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, deposit accounts at Bank of America and may be invested in Cash Equivalents reasonably acceptable to the Agent. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable laws, to reimburse the L/C Issuer.

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payableamount, the amount and the name and address of the beneficiary beneficiary, the proposed identity of the Issuing Lender and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that Xxxxxx Heller arrange for the issuance of the requested Letter of Credit under a risk undxx x xisk participation agreement with another financial institution reasonably acceptable to Xxxxxx Heller and Borrower. The issuance of any Letter of Credit under this Agreement Xxxxxxent shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender or the Bank Line Issuer asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. In the event that Borrower seeks the issuance of a Letter of Credit through a Bank Line Issuer or an Issuing Lender other than XxxxxxHeller, the issuance of such Letter of Credit shall be further conditioned conditxxxxx on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters of Credit and any related fees and expenses. Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the application or reimbursement agreement, if any, then required by the Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that an Issuing Lender cannot issue the requested Letter of Credit directly, Borrower may request that Xxxxxx arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx Xxxxxx, Borrower and Borrowerthe beneficiary of the requested Letter of Credit. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or one of its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender or the Bank Line Issuer asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. In the event that Borrower seeks the issuance of a Letter of Credit through a Bank Line Issuer or an Issuing Lender other than Xxxxxx, the issuance of such Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters of Credit and any related fees and expenses. Any notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the application or reimbursement agreement, if any, then required by the Issuing Lender or Bank Line Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such Issuing Lender or Bank Line Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs Borrower that an Issuing Lender the L/C Issuer cannot issue the requested Letter of Credit directly, Borrower may request that Xxxxxx L/C Issuer arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx Agent, L/C Issuer and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (ia) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (iib) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender L/C Issuer and Agent. If L/C Issuer receives written notice from Agent or the Bank Line Issuer asked to issue such Letter of Credit and, in Requisite Lenders on or before the case of standby letters of credit, Agent. In the event that Borrower seeks the Business Day preceding issuance of a Letter of Credit through a Bank Line that any conditions set forth in Section 7.2 have not been satisfied, L/C Issuer or an Issuing Lender other than Xxxxxx, shall have no obligation to issue the issuance of such requested Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or any other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters Letter of Credit and until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicable. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any related fees and expensesDefault, Event of Default or failure of such conditions. Any The initial notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s reimbursement agreement and an application or reimbursement agreementfor a letter of credit, if any, then required by the Issuing Lender or Bank Line L/C Issuer asked to issue such Letter of Credit completed in a manner satisfactory to such Issuing Lender or Bank Line L/C Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Each Borrower shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of the beneficiary and a description of the transactions proposed to be supported thereby. If Agent informs a Borrower that an Issuing Lender the L/C Issuer cannot issue the requested Letter of Credit directly, such Borrower may request that Xxxxxx L/C Issuer arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx Agent, L/C Issuer and Parent Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender L/C Issuer and Agent. If L/C Issuer receives written notice from Agent or the Bank Line Issuer asked to issue such Letter of Credit and, in Requisite Lenders on or before the case of standby letters of credit, Agent. In the event that Borrower seeks the Business Day preceding issuance of a Letter of Credit through a Bank Line that any conditions set forth in Section 7.2 have not been satisfied, L/C Issuer or an Issuing Lender other than Xxxxxx, shall have no obligation to issue the issuance of such requested Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or any other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters Letter of Credit and until such notice is withdrawn in writing by Agent or the Requisite Lenders, as applicable. Prior to its receipt of such notice from Agent or the Requisite Lenders, L/C Issuer shall not be deemed to have notice or knowledge of any related fees and expensesDefault, Event of Default or failure of such conditions. Any The initial notice requesting the issuance of a Letter of Credit shall be accompanied by the form of the Letter of Credit and the L/C Issuer’s reimbursement agreement and an application or reimbursement agreementfor a letter of credit, if any, then required by the Issuing Lender or Bank Line L/C Issuer asked to issue such Letter of Credit completed in a manner reasonably satisfactory to such Issuing Lender or Bank Line L/C Issuer. If any provision of any application or reimbursement agreement is inconsistent with the terms of this Agreement, then the provisions of this Agreement, to the extent of such inconsistency, shall control.

Request for Letters of Credit. Borrower Borrowing Agent shall give Agent at least three (3) Business Days’ Days prior written notice specifying the date a US Lender Letter of Credit is requested to be issued, the currency in which such Letter of Credit is payable, the amount and the name and address of identifying the beneficiary and a description describing the nature of the transactions proposed to be supported thereby. If Agent informs Borrower that an Issuing The notice shall be accompanied by the form of the US Lender cannot issue the requested Letter of Credit directly, Borrower may being requested. Each request that Xxxxxx arrange for the issuance of the requested Letter of Credit under a risk participation agreement with another financial institution reasonably acceptable to Xxxxxx and Borrower. The issuance of any Letter of Credit under this Agreement shall be subject to the conditions that the Letter of Credit (i) supports a transaction entered into in the ordinary course of business of Borrower or its Subsidiaries and (ii) is in a form, is for an amount and contains such terms and conditions as are reasonably satisfactory to the Issuing Lender or the Bank Line Issuer asked to issue such Letter of Credit and, in the case of standby letters of credit, Agent. In the event that Borrower seeks the issuance of a Letter of Credit through a Bank Line Issuer or an Issuing Lender other than Xxxxxx, the issuance of such Letter of Credit shall be further conditioned on Borrower either maintaining an operating account with such Bank Line Issuer or other Issuing Lender or otherwise arranging to be charged directly by such Bank Line Issuer or other Issuing Lender for drawings under any such Letters of Credit and any related fees and expenses. Any notice requesting the issuance of a Letter of Credit shall be accompanied by an application duly executed by the relevant Borrower in the form of the Letter of Credit and the application or reimbursement agreement, if any, then required customarily prescribed by the Issuing Lender or Bank Line Issuer asked to issue such issuer for the Letter of Credit completed then being requested with such modifications as may be mutually agreed for purposes of consistency with this Agreement (each a “US Letter of Credit Application”) and, in the case of an extension or amendment or an increase in the amount of a Letter of Credit, a written request therefor, in a manner satisfactory form acceptable to such the Agent and the Issuing Lender or Bank Line Issuerissuer, in each case, together with the fees called for by this Agreement. If The Borrower’s obligations to the Issuing Lender or issuer with respect to any provision Letters of any application or reimbursement agreement is inconsistent with Credit issued by it shall be subject to the terms and conditions of the relevant Application and this Agreement, provided that in the event of a conflict between the terms thereof and the terms of this Agreement, then the provisions terms of this AgreementAgreement shall control. Any US Lender Letter of Credit which Borrowing Agent requests must be in such form, be for such amount, contain such terms and support such transactions as are reasonably satisfactory to Agent and, if issued by US Letter of Credit Issuer, US Letter of Credit Issuer. The expiration date of each US Lender Letter of Credit shall be on a date which is no later than the earlier of (x) twelve (12) months from the date of issuance (or which is cancelable no later than twelve (12) months from the date of issuance and each renewal) or (y) thirty (30) days prior to the extent Termination Date. US Letter of such inconsistency, shall controlCredit Issuer hereby commits to issue any US Lender Letter of Credit requested hereunder in accordance with the requirements of this subsection 2.1(F).