Common use of Stop Issuance Notice Clause in Contracts

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 6 contracts

Samples: Credit Agreement (Consolidated Edison Co of New York Inc), Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Consolidated Edison Co of New York Inc)

AutoNDA by SimpleDocs

Stop Issuance Notice. If the Required Lenders reasonably Banks determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Servicing Agent issue a “Stop Issuance Notice”, and the Administrative Servicing Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Servicing Agent and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect. The absence of a Stop Issuance Notice at any time shall not affect the rights and obligations of the parties hereto at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time or create any implication that such conditions would be satisfied at such time.

Appears in 5 contracts

Samples: Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/), Credit Agreement (Clorox Co /De/)

Stop Issuance Notice. If the Required Lenders Banks reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 4 contracts

Samples: Credit Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Inc), Agreement (Consolidated Edison Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be promptly withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 4 contracts

Samples: Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 4 contracts

Samples: Credit Agreement (Textron Inc), Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 3 contracts

Samples: Credit Agreement (Marathon Oil Corp), Credit Agreement (Marathon Oil Corp), Credit Agreement (Marathon Oil Corp)

Stop Issuance Notice. If the Required Revolving Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Revolving Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be promptly withdrawn upon a determination by the Required Revolving Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Revolving Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc)

Stop Issuance Notice. If the Required Lenders reasonably Banks determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Revolving Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a “Stop Issuance Notice”"STOP ISSUANCE NOTICE", and the Administrative Agent shall issue such notice to the Swing Loan Lender and to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Swing Loan shall be made and no Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent Agent, the Swing Loan Lender and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Lyondell Petrochemical Co), Credit Agreement (Lyondell Chemical Co)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the General Administrative Agent issue a “Stop Issuance Notice”, and the General Administrative Agent shall issue such notice to each Issuing LenderLender and the Canadian Administrative Agent. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, therefor and shall consider reasonably and in good faith a request from the Borrower Company for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent Agents and the each Issuing Lenders Lender may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Ryerson Tull Inc /De/), Credit Agreement (Ryerson Inc.)

Stop Issuance Notice. If the Required Lenders Banks reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a "Stop Issuance Notice", and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

Stop Issuance Notice. If the Required Lenders Banks reasonably determine at any time that the conditions set forth in Section 3.02 3.01 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a “Stop Issuance Notice”notice ("STOP ISSUANCE NOTICE"), and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 3.01 are satisfied, provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Universal City Development Partners LTD), Credit Agreement (Universal City Development Partners LTD)

Stop Issuance Notice. If the Required Lenders reasonably Banks determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Revolving Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to the Swing Loan Lender and to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Swing Loan shall be made and no Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent Agent, the Swing Loan Lender and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Lyondell Chemical Co), Credit Agreement (Lyondell Chemical Co)

Stop Issuance Notice. If the Required Lenders Banks reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 2 contracts

Samples: Credit Agreement (Pacificorp /Or/), Credit Agreement (Pacificorp /Or/)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 5.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the General Administrative Agent issue a “Stop Issuance Notice”, and the General Administrative Agent shall issue such notice to each Issuing Lender, each Swingline Lender and the Canadian Administrative Agent. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued and no Committed Swingline Loan shall be made while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, therefor and shall consider reasonably and in good faith a request from the Borrower Borrowers for withdrawal of the same on the basis that the conditions in Section 3.02 5.02 are satisfied, ; provided that the Administrative Agent Agents, each Swingline Lender and the each Issuing Lenders Lender may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp/De)

Stop Issuance Notice. If the Required Lenders Banks reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a "Stop Issuance Notice", and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Textron Financial Corp)

AutoNDA by SimpleDocs

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Neiman Marcus Group Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section ‎Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section ‎Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Textron Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of the issuance of a Borrowing Letter of Credit at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Assignment and Assumption (Marathon Oil Corp)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 3.03 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall promptly issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower Company for withdrawal of the same on the basis that the conditions in Section 3.02 3.03 are satisfied, provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Rockwell Collins Inc)

Stop Issuance Notice. If the Required Lenders reasonably Banks determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders Banks may request that the Administrative Agent issue a "Stop Issuance Notice", and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Usx Corp)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 4.01 would not be satisfied in respect of a Revolving Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to the Swingline Loan Lender and to each Issuing LenderFronting Bank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Swingline Loan shall be made and no Letter of Credit shall be issued issued, amended, renewed or extended while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower Borrowers for withdrawal of the same on the basis that the conditions in Section 3.02 4.01 are satisfied, ; provided that the Administrative Agent Agent, the Swingline Lender and the Issuing Lenders Fronting Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Possession Credit Agreement (Equistar Chemicals Lp)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 4.02 in respect of an issuance of a Letter of Credit would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a "Stop Issuance Notice", and the Administrative Agent shall issue such notice to each Issuing the L/C Issuer and the Swing Line Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued issued, and no Swing Line Loan while a Stop Issuance Notice is in effect. The Required Lenders may request the issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 4.02 are satisfied, ; provided that the Administrative Agent Agent, the L/C Issuer and the Issuing Lenders Swing Loan Lender may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Keystone Marketing Services Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”"STOP ISSUANCE NOTICE", and the Administrative Agent shall issue such notice to each Issuing LenderBank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders Banks may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Neiman Marcus Group Inc)

Stop Issuance Notice. If the Required Lenders reasonably determine at any time that the conditions set forth in Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Lenders may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice to each Issuing Lender. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Lenders that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued or extended while a Stop Issuance Notice is in effect. The Required Lenders may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions in Section 3.02 are satisfied, ; provided that the Administrative Agent and the Issuing Lenders may and shall conclusively rely upon on any Stop Issuance Notice while it remains in effect.

Appears in 1 contract

Samples: Credit Agreement (Campbell Soup Co)

Time is Money Join Law Insider Premium to draft better contracts faster.