Common use of Letter of Credit Request Procedure Clause in Contracts

Letter of Credit Request Procedure. Borrower shall give Agent not less than three (3) Business Days 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 Agent shall notify the Issuing Bank and each Lender who holds a Revolving Commitment of the contents thereof and of such Lender's Commitment Percentage of the amount of the proposed Letter of Credit. Each Letter of Credit (i) shall have an expiration date that does not extend beyond a date which is the lesser of (A) one (1) year from the date of issuance (or in the case of commercial documentary letters of credit ninety (90) days) or (B) thirty (30) days prior to the Revolving Maturity Date, (ii) shall be payable in Dollars, (iii) must support a transaction entered into or obligation arising in the ordinary course of business, (iv) must be satisfactory in form and substance to Agent and the Issuing Bank, and (v) shall be issued pursuant to such documentation as Agent and the Issuing Bank may require, including, without limitation, the Issuing Bank's standard form Letter of Credit 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. The Borrower shall give the Agent not less than 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 notify the Issuing each other Bank and each Lender who holds a Revolving Commitment of the contents thereof of the Letter of Credit and of such LenderBank's Commitment Percentage of the amount of the proposed Letter of CreditCredit in accordance with Section 4.6. Each Letter of Credit (i) shall have an expiration date that does not extend beyond a date which is the lesser earlier of (Ai) one (1) year from the date of issuance its issuance, provided that any Letter of Credit may provide for the renewal of the expiration date thereof for additional one-year periods (or which shall in no event extend the expiration date thereof beyond the date provided for in the case of commercial documentary letters of credit ninety next clause (90) daysii)) or (Bii) a date which is thirty (30) days prior to the Revolving Maturity Termination Date, (ii) . Each Letter of Credit shall be payable in Dollars, (iii) must support a transaction entered into or obligation arising in the ordinary course of the Borrower's business, (iv) must be satisfactory in form and substance to Agent and the Issuing BankAgent, and (v) shall be issued pursuant to such documentation as the Agent and the Issuing Bank may require, including, without limitation, the Issuing BankAgent's standard form Letter letter of Credit Agreementcredit 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.