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

Procedure for Issuance of Letter 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 their respective addresses for notices specified herein (or to such other address provided by such Issuing Lender) 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 may reasonably request. Upon receipt of any Application, the Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and 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 Business Days after its receipt of the 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 Issuing Lender

Appears in 1 contract

Samples: Delphi Corp

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Procedure for Issuance of Letter 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 their respective addresses its address for notices specified herein (or to such other address provided by such Issuing Lender) an L/C 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 may reasonably request. Upon receipt of any L/C Application, the Issuing Lender will process such 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, subject to the terms and conditions hereof, 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 Business Days after its receipt of the 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 to by the Issuing LenderIssuing

Appears in 1 contract

Samples: Credit Agreement (Lifepoint Hospitals Inc)

Procedure for Issuance of Letter 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 and the Administrative Agent at their respective addresses for notices specified herein (or to such other its address provided by such set forth in its Issuing Lender) Lender Agreement an 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 may reasonably request. Upon receipt of any Application, the such Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall the an 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) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the such Issuing LenderLender and the

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

Procedure for Issuance of Letter of Credit. The Borrower may from time to time request that the L/C Issuing Lender Bank issue a Letter of Credit Commercial L/C or Standby L/C for its account by delivering to the L/C Issuing Lender and the Administrative Agent Bank at their respective addresses its address for notices specified herein (or to such other address provided by such Issuing Lender) an Application therefor, completed to the reasonable satisfaction of the L/C Issuing LenderBank, and such other certificates, documents and other papers and information as the L/C Issuing Lender Bank may reasonably request. Upon receipt of any Application, the L/C Issuing Lender Bank will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall endeavor to promptly issue the Letter of Credit requested thereby (but in no event shall the L/C Issuing Lender Bank 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) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the L/C Issuing LenderBank and the Borrower. The L/C Issuing Bank shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. The L/C Issuing Bank shall promptly notify the Agent of the issuance, extension or amendment of Letters of Credit and any drawings or other payments under Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Sears Canada Inc.)

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Procedure for Issuance of Letter 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 their respective addresses its address for notices specified herein (or to such other address provided by such Issuing Lenderin accordance with subsection 10.2(c) 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 may reasonably request. Upon receipt of any Application, the Issuing Lender will process such Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and 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 Business Days after its receipt of the 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 Issuing LenderLender and the Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the issuance thereof. 3.3

Appears in 1 contract

Samples: Credit Agreement (CSC Parent Corp)

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