Letter of Credit Application Clause Samples
A Letter of Credit Application clause outlines the process and requirements for a party to formally request the issuance of a letter of credit from a financial institution. Typically, this clause specifies the information and documentation the applicant must provide, such as the amount, beneficiary details, and terms of payment, and may set deadlines or conditions for submission. By establishing clear procedures and obligations, the clause ensures that the letter of credit is issued correctly and efficiently, reducing the risk of delays or misunderstandings in international trade transactions.
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Letter of Credit Application. If a Letter of Credit is requested to be issued on the Effective Date, the Administrative Agent shall have received a properly completed letter of credit application (whether standalone or pursuant to a master agreement, as applicable).
Letter of Credit Application. See Section 4.1.1.
Letter of Credit Application. An application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the Issuing Bank.
Letter of Credit Application. The Lender shall have received a properly completed letter of credit application (whether standalone or pursuant to a master agreement, as applicable) if the issuance of a Letter of Credit will be required on the Effective Date.
Letter of Credit Application. See Section 4.1.1. LETTER OF CREDIT FEE. See Section 4.6.
Letter of Credit Application. See Section 4.1.1. Letter of Credit Fee. See Section 4.6.
Letter of Credit Application. To the extent not inconsistent with the terms of this Agreement (in which case the provisions of this Agreement shall prevail), provisions of any Letter of Credit Application related to any Letter of Credit are supplemental to, and not in derogation of, any rights and remedies of the Issuing Lender and the Participating Lenders under this Section 3 and applicable law. The Borrower acknowledges and agrees that all rights of the Issuing Lender under any Letter of Credit Application shall inure to the benefit of each Participating Lender to the extent of its Revolving Credit Commitment Percentage as fully as if such Participating Lender was a party to such Letter of Credit Application.
Letter of Credit Application. The Parent shall have delivered to the Bank a duly completed Letter of Credit Application as required by Section 2.2 and such other documentation related thereto as the Bank shall reasonably request. Each Letter of Credit Action requested by the Parent hereunder shall constitute a representation and warranty by the Parent that the conditions precedent set forth in this Section 5.2 have been satisfied (both as of the date of such notice and, unless the Parent otherwise notifies the Bank prior to the date of such requested Letter of Credit Action as of the date of such requested Letter of Credit Action).
Letter of Credit Application. In the case of a Letter of Credit, the Letter of Credit Issuer shall have received a Letter of Credit Application executed by the applicable Borrower;
Letter of Credit Application. The Administrative Agent shall have received a properly completed letter of credit application (whether standalone or pursuant to a master agreement, as applicable) if the issuance of a Letter of Credit will be required on the Effective Date. The Borrowers shall have executed the applicable Issuing Bank’s master agreement for the issuance of commercial Letters of Credit (if applicable).