Common use of L/C Applications Clause in Contracts

L/C Applications. The Company shall execute and deliver to Lender the Master Letter of Credit Agreement from time to time in effect. The Company shall give notice to Lender of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as Lender shall agree in any particular instance in its sole discretion) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company and in all respects reasonably satisfactory to Lender, together with such other documentation as Lender may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than the scheduled Termination Date (unless such Letter of Credit is Cash Collateralized)) and whether such Letter of Credit is to be transferable in whole or in part. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any L/C Application and the terms of this Agreement, the terms of this Agreement shall control. All Letters of Credit shall be denominated in US Dollars except to the extent Lender otherwise consents to the contrary.

L/C Applications. The Company shall execute and deliver to Lender the Master Letter of Credit Agreement from time to time in effect. The Company shall give notice to Lender the Bank of the proposed issuance of each Letter of Credit on a Business Day which is at least three Business Days (or such lesser number of days as Lender the Bank shall agree in any particular instance in its sole discretion) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by an L/C Application, duly executed by the Company and in all respects reasonably satisfactory to Lenderthe Bank, together with such other documentation as Lender the Bank may reasonably request in support thereof, it being understood that each L/C Application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued, the expiration date of such Letter of Credit (which shall not be later than one year after the date of issuance thereof; provided that if the expiration date occurs after the scheduled Termination Date (unless Date, such Letter of Credit is Cash Collateralized)shall be cash collateralized in accordance with Section 12.3) and whether such Letter of Credit is to be transferable in whole or in part. Subject to Section 2.4, the Bank shall issue such Letter of Credit on the requested issuance date. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any L/C Application and the terms of this Agreement, the terms of this Agreement shall control. All Letters of Credit shall be denominated in US Dollars except to the extent Lender otherwise consents to the contrary.