Common use of Approval and Issuance Clause in Contracts

Approval and Issuance. (a) Borrower shall provide Agent not less than three (3) Business Days' prior written notice of each request for the issuance of a Letter of Credit by delivery of a Letter of Credit Request Form, which shall be certified by an Authorized Officer of Borrower, and shall, in addition to the matters described in Paragraph 2.7 (a) hereof, list all Letters of Credit outstanding for the account of Borrower at that time and, for each Letter of Credit so listed, its face amount, outstanding undrawn balance and expiration date. It shall be a condition to the issuance of any Letter of Credit that Agent shall have received a Letter of Credit Request Form as described above and such letter of credit application and agreement as Agent shall reasonably require in connection therewith, and that the conditions set forth in Paragraph 4.2 shall be satisfied. (b) Agent will promptly provide to Lenders written (including fax) or telephonic notification of Agent's receipt of the Letter of Credit Request Form which shall state (i) the amount of the Letter of Credit requested and (ii) the expiration date of the requested Letter of Credit.

Approval and Issuance. (a) Borrower shall provide Agent not less than three (3) Business Days' prior written notice of each request for the issuance of a Letter of Credit by delivery of a Letter of Credit Request Form, which shall be certified by an Authorized Officer the chief financial officer of Borrower, and shall, in addition to the matters described in Paragraph 2.7 (a) hereof, list all Letters of Credit outstanding for the account of Borrower at that time and, for each Letter of Credit so listed, its face amount, outstanding undrawn balance and expiration date. It shall be a condition to the issuance of any Letter of Credit that Agent shall have received a Letter of Credit Request Form as described above and such letter of credit application and agreement as Agent shall reasonably require in connection therewith, and that the conditions set forth in Paragraph 4.2 shall be satisfied. (b) Agent will promptly provide to Lenders written (including fax) or telephonic notification of Agent's receipt of the Letter of Credit Request Form which shall state (i) the amount of the Letter of Credit requested and (ii) the expiration date of the requested Letter of Credit.