Common use of Issuing Banks Clause in Contracts

Issuing Banks. Subject to the terms and conditions hereof, each Borrower may from time to time identify and arrange for one or more Lenders to act as Issuing Banks hereunder. Notice of any such designation by a Borrower shall be given to the Administrative Agent at least four Business Days prior to the first date upon which such Borrower proposes that such Issuing Bank issue its first Letter of Credit, so as to provide adequate time for such proposed Issuing Bank to be approved by the Administrative Agent hereunder (such approval not to be unreasonably withheld). Within two Business Days following the receipt of any such designation of a proposed Issuing Bank, the Administrative Agent shall notify the applicable Borrower as to whether such designee is acceptable to the Administrative Agent. Nothing contained herein shall be deemed to require any Lender to agree to act as an Issuing Bank, if it does not so desire.

Issuing Banks. Subject to the terms and conditions hereof, each the Borrower may from time to time identify and arrange for one or more Lenders to act as Issuing Banks hereunder. Notice of any Any such designation by a the Borrower shall be given notified to the Administrative Agent at least four Business Days prior to the first date upon which such the Borrower proposes that such Issuing Bank issue (or, pursuant to Section 4.2(d), be deemed to have issued) its first Letter of Credit, so as to provide adequate time for such proposed Issuing Bank to be approved by the Administrative Agent hereunder (such approval not to be unreasonably withheld). Within two Business Days following the receipt of any such designation of a proposed Issuing Bank, the Administrative Agent shall notify the applicable Borrower as to whether such designee is acceptable to the Administrative Agent. Nothing contained herein shall be deemed to require any Lender to agree to act as an Issuing Bank, if it does not so desire.

Issuing Banks. Subject to the terms and conditions hereof, each the Borrower may from time to time identify and arrange for one or more Lenders to act as Issuing Banks hereunder. Notice of any Any such designation by a the Borrower shall be given notified to the Administrative Agent at least four Business Days prior to the first date upon which such the Borrower proposes that such Issuing Bank issue (or, pursuant to Section 4.02(c), be deemed to have issued) its first Letter of Credit, so as to provide adequate time for such proposed Issuing Bank to be approved by the Administrative Agent hereunder (such approval not to be unreasonably withheld)hereunder. Within two Business Days following the receipt of any such designation of a proposed Issuing Bank, the Administrative Agent shall notify the applicable Borrower as to whether such designee is acceptable to the Administrative Agent. Nothing contained herein shall be deemed to require any Lender to agree to act as an Issuing Bank, if it does not so desire.