Additional Issuing Lender definition
Examples of Additional Issuing Lender in a sentence
For Letters of Credit issued by Additional Issuing Lenders, the Borrower shall pay to the applicable Additional Issuing Lender such issuance fees as shall be agreed to by the Borrower and such Additional Issuing Lender.
Each Additional Issuing Lender shall notify the Administrative Agent at least two (2) Business Days before (i) the issuance of any Letter of Credit by such Additional Issuing Lender and (ii) any amendment or modification to any Letter of Credit issued by such Additional Issuing Lender.
In addition, any Additional Issuing Lender may, at any time give notice of its resignation to the Administrative Agent and the Borrower.
The Administrative Agent shall notify the Lenders of each Additional Issuing Lender.
The Borrower may appoint Additional Issuing Lenders by agreement with the applicable Additional Issuing Lender and written notice to the Administrative Agent given at least two (2) Business Days before the issuance of any Letters of Credit by such Additional Issuing Lender.
Such new Issuing Lender shall provide its L/C Commitment in such Notice of Additional Issuing Lender and upon the receipt by the Administrative Agent of the fully executed Notice of Additional Issuing Lender, the defined term L/C Commitment shall be deemed amended to incorporate the L/C Commitment of such new Issuing Lender.
From and after the effective date of any such addition, (i) the Additional Issuing Lender shall have all the rights and obligations of an Issuing Lender under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “Issuing Lender” shall be deemed to include such Additional Issuing Lender.
Any Lender may be added as an Issuing Lender (each such Lender, an “Additional Issuing Lender”) at any time pursuant to a written agreement among the Borrower, the Administrative Agent and such Additional Issuing Lender and to be in form and substance reasonably satisfactory to such Additional Issuing Lender and the Administrative Agent.
Any Revolving Credit Lender designated as an Additional Issuing Lender shall remain as such until the Borrower gives written notice to the Administrative Agent that such Revolving Credit Lender is no longer an Additional Issuing Lender; provided that no L/C Obligations remain outstanding with respect to such Additional Issuing Lender.
Any Revolving Credit Lender designated as an Additional Issuing Lender shall remain as such until the Borrower gives written notice to the Administrative Agent that such Revolving Credit Lender is no longer an Additional Issuing Lender or such Additional Issuing Lender resigns pursuant to Section 13.10(hg)(ii); provided that no L/C Obligations remain outstanding with respect to such Additional Issuing Lender.