Common use of Letter of Credit Request Procedure Clause in Contracts

Letter of Credit Request Procedure. Except for Letters of Credit issued on the Closing Date, the Borrower shall give the Agent at least three (3) Business Days irrevocable prior notice (effective upon receipt) specifying the date of each Letter of Credit and the nature of the transactions to be supported thereby. Upon receipt of such notice the Agent shall promptly notify each other Bank of the contents thereof and of such Bank's Commitment Percentage of the amount of the proposed Letter of Credit. Each Letter of Credit shall have an expiration date that does not extend beyond a date which is thirty (30) days prior to the Termination Date, shall be payable in Dollars, must support a transaction entered into in the ordinary course of the Borrower's business, must be satisfactory in form and substance to the Agent, and shall be issued pursuant to such documentation as the Agent may require, including, without limitation, the Agent's standard form letter of credit request and reimbursement agreement; PROVIDED, that, in the event of any conflict between the terms of such agreement and the other Loan Documents, the terms of the other Loan Documents shall control.

Letter of Credit Request Procedure. Except for Letters of Credit issued on the Closing Date, the Borrower Parent shall give the Agent at least three (3) Business Days irrevocable prior notice (effective upon receipt) specifying the date of each Letter of Credit, the Borrower for whose account such Letter of Credit is to be issued and the nature of the transactions to be supported thereby. Upon receipt of such notice the The Agent shall promptly notify each other Bank of the contents thereof of the Letter of Credit and of such Bank's Commitment Percentage of the amount of the proposed Letter of CreditCredit in accordance with SECTION 4.6. Each Letter of Credit shall have an expiration date that does not extend beyond the earlier of (i) one (1) year from the date of its issuance, PROVIDED that any Letter of Credit may provide for the renewal of the expiration date thereof for additional one-year periods (which shall in no event extend the expiration date thereof beyond the date provided for in the next clause (ii)) or (ii) a date which is thirty (30) days prior to the Termination Date, . Each Letter of Credit shall be payable in Dollars, must support a transaction entered into in the ordinary course of the a Borrower's business, must be satisfactory in form and substance to the Agent, and shall be issued pursuant to such documentation as the Agent may require, including, without limitation, the Agent's standard form letter of credit request and reimbursement agreement; PROVIDED, that, in the event of any conflict between the terms of such agreement and the other Loan Documents, the terms of the other Loan Documents shall control.