Common use of Issuances and Extensions Clause in Contracts

Issuances and Extensions. On the terms and subject to the conditions of this Agreement (including Section 4.1 and Article VI), the Fronting Bank shall issue Letters of Credit, and extend the Stated Expiry Dates of outstanding Letters of Credit, in accordance with the Issuance Requests made therefor. The Fronting Bank will make available the original of each Letter of Credit which it issues in accordance with the Issuance Request therefor to the beneficiary thereof (and, at the request of a Lender, will provide such Lender on a monthly basis with a schedule of the outstanding Letters of Credit as of the last day of the prior month) and will notify the beneficiary under any Letter of Credit of any extension of the Stated Expiry Date thereof.

Issuances and Extensions. On the terms and subject to the conditions of this Agreement (including Section 4.1 and Article VI), the Fronting Bank shall issue Letters of Credit, and extend the Stated Expiry Dates of outstanding Letters of Credit, in accordance with the Issuance Requests made therefor. The Fronting Bank will make available the original of each Letter of Credit which it issues in accordance with the Issuance Request therefor to the beneficiary thereof (and, at the request of a Lender, will provide such Lender on a monthly basis with a schedule of the outstanding Letters of Credit as of the last day of the prior month) and will notify the beneficiary under any Letter of Credit of any extension of the Stated Expiry Date thereof.