Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of Credit, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 8 contracts
Sources: Credit Agreement (Windstream Services, LLC), Credit Agreement Refinancing Amendment (Windstream Corp), Amendment and Restatement Agreement (Windstream Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably at least three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the applicable Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or any Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal amendment or extension (i) the LC Revolving L/C Exposure shall not exceed $30,000,000 and the Letter of Credit Sublimit, (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total applicable Revolving Commitments. Promptly upon the issuance of a Facility Commitments (iii) no Alternate Currency Letter of Credit shall be issued if, after giving effect thereto, the aggregate amount of Revolving L/C Exposure with respect to all Alternate Currency Letters of Credit would exceed $3,000,000 (or amendmentsuch larger amount within the Letter of Credit Sublimit as the Administrative Agent and the applicable Issuing Bank may agree) and (iv) with respect to the applicable Issuing Bank, renewalthe stated amount of all outstanding Letters of Credit issued by such Issuing Bank shall not exceed the applicable Specified L/C Sublimit of such Issuing Bank then in effect. For the avoidance of doubt, extension or termination no Issuing Bank shall be obligated to issue an Alternate Currency Letter of an outstanding Credit if such Issuing Bank does not otherwise issue letters of credit in such Alternate Currency and Jefferies Finance LLC shall not be obligated to issue any Alternate Currency Letter of Credit). In addition, no Issuing Bank shall be under any obligation to issue any Letter of Credit if (i) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the Issuing Bank from issuing the Letter of Credit, or any Requirement of Law applicable to the Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall provide notice of such issuanceprohibit, amendment, renewal, extension or termination to the Administrative Agent (if different from request that the Issuing Bank)Bank refrain from, who shall the issuance of letters of credit generally or the Letter of Credit in turn promptly provide notice particular or (ii) the issuance of same the Letter of Credit would violate one or more policies of the Issuing Bank applicable to the Revolving Lendersletters of credit generally.
Appears in 7 contracts
Sources: Incremental Assumption and Amendment Agreement (PlayAGS, Inc.), Incremental Assumption and Amendment Agreement (PlayAGS, Inc.), Incremental Assumption and Amendment Agreement (PlayAGS, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank requested to issue from whom the Borrower is requesting such Letter of Credit) Credit and to such Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.05(c)), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 350,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 5 contracts
Sources: Aircraft Dry Lease (Williams Companies Inc), Aircraft Dry Lease (Williams Companies Inc), Master Lease Agreement (Williams Companies Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice signed by a Responsible Officer of the Borrower requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 5,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 5 contracts
Sources: Credit Agreement (Harris Interactive Inc), Credit Agreement (Harris Interactive Inc), Credit Agreement (Harris Interactive Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the applicable Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by fax to the Issuing Bank requested to issue such Letter of Credit) to such applicable Issuing Bank and the Administrative Agent (reasonably in advance of of, but not later than 10:00 a.m., New York City time, five Business Days before, the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Sectionbelow), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If Following receipt of such notice and prior to the issuance of the requested by Letter of Credit or the applicable amendment, renewal or extension, the Administrative Agent shall notify the Borrowers, each Lender and the applicable Issuing Bank requested of the amount of the Aggregate Credit Exposure after giving effect to issue (i) the issuance, amendment, renewal or extension of such Letter of Credit, (ii) the Borrower also shall submit a letter issuance or expiration of credit application on any other Letter of Credit that is to be issued or will expire prior to the requested date of issuance of such Issuing Bank’s standard form in connection with Letter of Credit and (iii) the borrowing or repayment of any request for a Loans that (based upon notices delivered to the Administrative Agent by the Borrowers) are to be borrowed or repaid prior to the requested date of issuance of such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), (i) after giving effect to such issuance, amendment, renewal or extension (iA) the LC L/C Exposure shall not exceed $30,000,000 100,000,000 and (iiB) the sum of the total Revolving Aggregate Credit Exposures Exposure shall not exceed the total Revolving Commitments. Promptly upon Total Commitment, (ii) in the issuance case of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), that will expire later than the Issuing Bank shall provide notice first anniversary of such issuance, amendment, renewalrenewal or extension, extension or termination the applicable Borrower, the applicable Issuing Bank and the Required Lenders shall have reached agreement on the fees to be applicable thereto as contemplated by the Administrative Agent last sentence of Section 2.07(c) and (if different from iii) in the Issuing Bankevent the Maturity Date shall have been extended as provided in Section 2.12(d), who the sum of the LC Exposures attributable to Letters of Credit expiring after any Existing Maturity Date (as defined in Section 2.12(d)) and the Competitive Loan Exposures attributable to Competitive Loans maturing after such Existing Maturity Date shall in turn promptly provide notice not exceed the aggregate Commitments that have been extended to a date after the expiration date of same to the Revolving Lenderslast of such Letters of Credit and the maturity of the last of such Competitive Loans.
Appears in 5 contracts
Sources: Credit Facility Agreement (Xylem Inc.), Credit Facility Agreement (Exelis Inc.), Credit Facility Agreement (ITT Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy fax (or transmit by electronic communicationthrough Electronic System, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than two Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof thereof, and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested In addition, as a condition to issue any such Letter of CreditCredit issuance, the Borrower also shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application on application, in each case, as required by the Issuing Bank and using such Issuing Bank’s standard form in connection with any request for (each, a “Letter of CreditCredit Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 3,000,000, and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 5 contracts
Sources: Credit Agreement (Potbelly Corp), Credit Agreement (Potbelly Corp), Credit Agreement (Potbelly Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no later than two Business Days prior to such date unless otherwise agreed by the Issuing Bank and the Administrative Agent) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that)if, after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 40,000,000, (ii) the sum Dollar Amount of the total Outstanding Revolving Credit Exposures Credits shall not exceed the total Total Revolving CommitmentsCommitments and (iii) with respect to such Issuing Bank, the sum of the aggregate face amount of Letters of Credit issued by such Issuing Bank, when aggregated with the outstanding Revolving Loans funded by such Issuing Bank, shall not exceed its Revolving Commitment. Promptly upon If the issuance Borrower so requests in any applicable letter of credit application, the Issuing Bank may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (or amendmenteach, renewal, extension or termination of an outstanding “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the Issuing Bank, the Borrower shall not be required to make a specific request to the Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit expiration date referenced in clause (c) below; provided, however, that the Issuing Bank shall provide not permit any such extension if (A) the Issuing Bank has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof, or (B) it has received notice of such issuance, amendment, renewal, extension (which may be by telephone or termination to in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (if different 2) from the Administrative Agent, any Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the Issuing Bank)Bank not to permit such extension. The Issuing Bank shall not be under any obligation to issue any Letter of Credit if: (A) any order, who judgment or decree of any Governmental Authority or arbitrator shall in turn promptly provide notice by its terms purport to enjoin or restrain the Issuing Bank from issuing the Letter of same Credit, or any Law applicable to the Revolving LendersIssuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the Issuing Bank with respect to the Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the Issuing Bank in good ▇▇▇▇▇ ▇▇▇▇▇ material to it; (B) the issuance of the Letter of Credit would violate one or more policies of the Issuing Bank applicable to letters of credit generally.
Appears in 5 contracts
Sources: Incremental Assumption Agreement (Match Group, Inc.), Credit Agreement (Match Group, Inc.), Incremental Assumption Agreement and Amendment No. 1 (Match Group, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Company shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) ), a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph clause (c) of this SectionSection 2.4), the amount of such Letter of Credit, the name and address of the beneficiary thereof thereof, such information as is required under Section 3.1 in connection with a Loan, and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. Together with each such request, the Company shall deliver to the Administrative Agent (i) an original or a copy of a written report setting forth a calculation of the Percentage Factor as of the date of the requested issuance, amendment, renewal or extension, as applicable and (ii) an executed copy of a Letter of Credit Request Agreement substantially in the form of Schedule 13 to this Agreement to the extent not previously delivered. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower Company also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit, which application shall be for informational purposes only and shall not alter the Issuing Bank’s obligations hereunder. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and the LC Sub-Limit on such date, (ii) the sum of the total Revolving Credit Exposures Percentage Factor shall not exceed 100%, (iii) each of the total Revolving Commitmentsrequirements of Section 6.2 shall be satisfied and (iv) in the event that the Scheduled Commitment Termination Date shall have been extended pursuant to Section 4.4 with respect to some but not all of the Lender Groups, the portion of the LC Exposure attributable to Letters of Credit with expiry dates after the termination date of the Commitment of any Nonrenewing Lender Group will not exceed the portion of the Aggregate Commitment attributable to the aggregate Commitments of all Lender Groups that are not Nonrenewing Lender Groups. Promptly upon Each Letter of Credit shall be denominated in U.S. dollars and have an initial stated amount of at least $50,000. The applicable Issuing Bank shall give the issuance Company a copy of, and give the Administrative Agent reasonably prompt notice of a the amount of, each Letter of Credit (or the amendment, renewal, renewal or extension or termination of an outstanding Letter of Credit), and the Administrative Agent, in turn, shall give reasonably prompt notice of the amount thereof to each other Issuing Bank and the Funding Agents. For purposes of determining the stated amount of a Letter of Credit at any time hereunder, such amount shall provide notice be deemed to be the maximum stated amount (including any automatic increases provided by its terms) of such issuanceLetter of Credit after giving effect to all such increases, amendment, renewal, extension whether or termination to the Administrative Agent (if different from the Issuing Bank), who shall not such maximum stated amount is in turn promptly provide notice of same to the Revolving Lenderseffect at such time.
Appears in 4 contracts
Sources: u.s. Receivables Loan Agreement (Huntsman International LLC), u.s. Receivables Loan Agreement, u.s. Servicing Agreement, u.s. Receivables Purchase Agreement (Huntsman International LLC), u.s. Receivables Loan Agreement, u.s. Servicing Agreement, u.s. Receivables Purchase Agreement (Huntsman International LLC)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent three Business Days (reasonably or such shorter period as may be acceptable to the Issuing Bank in advance of the requested date of issuance, amendment, renewal or extension) ), a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended if and only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 4 contracts
Sources: Credit Agreement (Williams Randa Duncan), Credit Agreement (Williams Randa Duncan), Credit Agreement (Duncan Dan L)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably not less than five (5) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.07(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation by the Borrower that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, the LC Exposure shall not exceed the LC Commitment and the total Revolving Credit Exposures shall not exceed the total Commitments. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter ; provided that, in the event of Credit shall be issued, amended, renewed or extended only if (any conflict between such application and upon issuance, amendment, renewal or extension the terms of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit)this Agreement, the Issuing Bank terms of this Agreement shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenderscontrol.
Appears in 4 contracts
Sources: Credit Agreement, Credit Agreement (Rice Energy Inc.), Credit Agreement (Rice Energy Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extensionextension unless otherwise consented to by the Issuing Bank) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.09(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such time, the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that, after giving effect to the requested issuance, amendment, renewal or extension, as applicable, the LC Availability Requirements will be satisfied on the date of such issuance, amendment, renewal or extension. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 3 contracts
Sources: Senior Secured Revolving Credit Agreement (Halcon Resources Corp), Senior Secured Revolving Credit Agreement (Halcon Resources Corp), Senior Secured Revolving Credit Agreement (Halcon Resources Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the relevant Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph subparagraph (ci) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by an Issuing Bank, the Issuing Bank requested to issue Borrower (and any other member of the Allied Group for whose account such Letter of Credit, the Borrower Credit is issued) shall also shall submit a letter of credit application on such Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (ix) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Commitments and the Total Tranche A Credit-Linked Deposit, (y) the total Revolving Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments and (z) the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Tranche A LC Exposure shall not exceed the Total Tranche A Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders-Linked Deposit.
Appears in 3 contracts
Sources: Credit Agreement (Allied Waste Industries Inc), Credit Agreement (Allied Waste Industries Inc), Credit Agreement (Allied Waste Industries Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably at least three Business Days in advance of the requested date of issuance, amendment, renewal or extension, unless a shorter period is agreed to by the Issuing Bank) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.05), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall not exceed $30,000,000 and the Letter of Credit Sublimit and, unless otherwise agreed by any Issuing Bank in its sole discretion, the LC Exposure in respect of Letters of Credit issued by any Issuing Bank shall not exceed such Issuing Bank’s Letter of Credit Commitment, (ii) no Revolving Lender’s Revolving Exposure shall exceed such Revolving Lender’s Revolving Commitment and (iii) unless otherwise consented by the sum Issuing Bank in its sole discretion, the aggregate principal amount of outstanding Revolving Loans of such Issuing Bank, when aggregated with the total Revolving face amount of all Letters of Credit Exposures issued by such Issuing Bank, shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice amount of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the ’s Revolving LendersCommitment.
Appears in 3 contracts
Sources: Credit Agreement (Select Medical Corp), Credit Agreement (Select Medical Corp), Credit Agreement (Select Medical Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall deliver by hand deliver, e-mail or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of of, but in any event no less than three (3) Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure shall not exceed $30,000,000 and 30,000,000, (ii) no Revolving Lender’s Revolving Exposure shall exceed its Revolving Commitment, and (iii) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total lesser of the aggregate Revolving Commitments. Promptly upon Commitments and the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersBorrowing Base.
Appears in 3 contracts
Sources: Credit Agreement (Farmer Brothers Co), Credit Agreement (Farmer Brothers Co), Credit Agreement (Farmer Brothers Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail telecopy or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co), Credit Agreement (Erie Indemnity Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably not less than seven (7) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If ; and
(vi) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such time, the current total Revolving Credit Exposures (without regard to the requested by Letter of Credit or the Issuing Bank requested to issue such amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, the Borrower also shall submit a letter renewal or extension of credit application on such Issuing Bank’s standard form in connection with any request for a an outstanding Letter of Credit). A Letter of Credit Each notice shall be issued, amended, renewed or extended only if (and upon constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that)extension, after giving effect to such issuanceas applicable, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the LC Commitment and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving CommitmentsCommitments (i.e. the lesser of the Aggregate Maximum Credit Amounts and the then effective Borrowing Base). Promptly upon The Administrative Agent shall then arrange for the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), to be issued on the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersBorrower’s behalf.
Appears in 3 contracts
Sources: Credit Agreement (Northern Oil & Gas, Inc.), Credit Agreement (Petro Resources Corp), Credit Agreement (ABC Funding, Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail or telecopy deliver as permitted by Section 12.01(a) (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such any Issuing Bank and the Administrative Agent (reasonably not less than five (5) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit issued by such Issuing Bank to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (A) the LC Exposure shall not exceed the LC Commitment and (B) the total Revolving Credit Exposures shall not exceed the then-effective Available Commitments. If requested by the any Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 3 contracts
Sources: Restructuring Support and Lock Up Agreement (Legacy Reserves Inc.), Restructuring Support and Lock Up Agreement (Legacy Reserves Inc.), Credit Agreement (Legacy Reserves Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or an Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such letter of credit constitutes a Standby Letter of Credit or a Trade Letter of Credit, and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal amendment or extension (i) the LC Revolving L/C Exposure shall not exceed $30,000,000 and the Letter of Credit Sublimit, (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Facility Commitments and (iii) no Alternate Currency Letter of Credit (or amendmentshall be issued if, renewal, extension or termination of an outstanding Letter of Credit)after giving effect thereto, the Issuing Bank shall provide notice aggregate amount of such issuance, amendment, renewal, extension or termination L/C Exposure with respect to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice all Alternate Currency Letters of same to the Revolving LendersCredit would exceed $20.0 million.
Appears in 3 contracts
Sources: Credit Agreement (Verso Paper Holdings LLC), Credit Agreement (Verso Paper Corp.), Credit Agreement (Verso Paper Corp.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by to the Issuing Bank requested to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Sectionbelow), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If Following receipt of such notice and prior to the issuance of the requested by Letter of Credit or the applicable amendment, renewal or extension, the Administrative Agent shall notify the Borrower and the Issuing Bank requested of the amount of the Aggregate Revolving Credit Exposure after giving effect to issue (i) the issuance, amendment, renewal or extension of such Letter of Credit, (ii) the Borrower also issuance or expiration of any other Letter of Credit that is to be issued or shall submit a letter expire prior to the requested date of credit application on issuance of such Issuing Bank’s standard form in connection with Letter of Credit and (iii) the borrowing or repayment of any request for a Revolving Credit Loans that (based upon notices delivered to the Administrative Agent by the Borrower) are to be borrowed or repaid prior to the requested date of issuance of such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (iA) the LC L/C Exposure shall not exceed $30,000,000 30,000,000, and (iiB) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total Total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersCommitment.
Appears in 3 contracts
Sources: Credit Agreement (Schein Pharmaceutical Inc), Credit Agreement (Danbury Pharmacal Puerto Rico Inc), Credit Agreement (Schein Pharmaceutical Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by fax to the Issuing Bank requested to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) below), whether such Letter of this Section)Credit shall be issued in Dollars or an Alternative Currency, the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If requested by the The Issuing Bank requested to issue shall promptly (i) notify the Administrative Agent in writing of the amount and expiry date of each Letter of Credit issued by it and (ii) provide a copy of each such Letter of CreditCredit (and any amendments, renewals or extensions thereof) to the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of CreditAdministrative Agent. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC L/C Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of Aggregate Alternative Currency Exposure shall not exceed $50,000,000 and (iii) the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total Total Revolving CommitmentsCredit Commitment. Promptly upon The Borrower shall be deemed to have complied with the issuance notification and other information delivery requirements set forth in this Section 2.22(b) in respect of a the Letter of Credit (or amendmentin the form attached hereto as Schedule 2.22(b), renewal, extension or termination of an outstanding which Letter of Credit), Credit shall be issued on the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersClosing Date.
Appears in 3 contracts
Sources: Credit Agreement (Daramic, LLC), Credit Agreement (Polypore International, Inc.), Credit Agreement (Polypore International, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (cb) of this Section), the amount of such Letter of Credit, the Person for whose account such Letter of Credit shall be issued, the name and address of the beneficiary thereof and such other information as shall be reasonably necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures 325,000,000. No Issuing Lender shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendmentpermit any such issuance, renewal, extension or termination amendment resulting in an increase in the amount of an outstanding any Letter of Credit), Credit to occur if such Issuing Lender has received notice from the Issuing Bank shall provide notice of Administrative Agent or the Required Lenders that the conditions to such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersamendment have not been met.
Appears in 3 contracts
Sources: Revolving Credit, Term Loan and Guaranty Agreement, Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp), Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the currency in which such Letter of Credit is to be denominated, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall not exceed $30,000,000 75,000,000 and (ii) the sum of the total aggregate Global Revolving Credit Exposures shall not exceed the total aggregate Global Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Burger King Worldwide, Inc.), Credit Agreement (Burger King Holdings Inc), Credit Agreement (Burger King Holdings Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. The Existing Letters of Credit shall be deemed to have been issued hereunder as of the Effective Date. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such an Issuing Bank and the Administrative Agent (reasonably unless otherwise agreed by the applicable Issuing Bank, not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the outstanding Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the then effective Borrowing Base and the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (x) the LC Exposure shall not exceed the LC Commitment and (y) the total Credit Exposures shall not exceed the total Commitments (i.e., the lesser of the Aggregate Maximum Credit Amounts and the then effective Borrowing Base). No letter of credit issued by any Issuing Bank shall be deemed to be a “Letter of Credit” issued under this Agreement unless such Issuing Bank has requested and received written confirmation from the Administrative Agent that the representations by Borrower contained in the foregoing clauses (x) and (y) are true and correct. If requested by the any Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Credit and shall guarantee the reimbursement of any Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit issued for the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance account of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersLoan Party.
Appears in 3 contracts
Sources: Credit Agreement (Atlas Resource Partners, L.P.), Credit Agreement (Atlas Resource Partners, L.P.), Credit Agreement (Atlas Energy, L.P.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall hand deliver, e-mail deliver or telecopy send by facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 9:00 am, Chicago time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 100,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the lesser of the total Revolving Commitments. Promptly upon Commitments and the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersBorrowing Base.
Appears in 3 contracts
Sources: Credit Agreement (Furniture Brands International Inc), Credit Agreement (Furniture Brands International Inc), Credit Agreement (Furniture Brands International Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Company (on behalf of itself or any Borrowing Subsidiary) shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the General Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 4.01), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower Company (on behalf of itself or any Borrowing Subsidiary) also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of the total U.S. Revolving Credit Exposures shall not exceed the total U.S. Commitments, (iii) the sum of the total Revolving Credit Exposures plus the total Competitive Loan Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments and (iv) in the issuance event the Maturity Date shall have been extended as provided in Section 2.05, the sum of a Letter the LC Exposures attributable to Letters of Credit (or amendment, renewal, extension or termination expiring after any Existing Maturity Date and the Competitive Loans maturing after such Existing Maturity Date shall not exceed the total Commitments of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Consenting Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Zimmer Holdings Inc), Credit Agreement (Zimmer Holdings Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three (3) Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersAggregate Commitment.
Appears in 2 contracts
Sources: Credit Agreement (Stepan Co), Credit Agreement (Stepan Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 8,500,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Fisher Communications Inc), Credit Agreement (Fisher Communications Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Person for whose account such Letter of Credit shall be issued, the name and address of the beneficiary thereof and such other information as shall be reasonably necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures 325,000,000. No Issuing Lender shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendmentpermit any such issuance, renewal, extension or termination amendment resulting in an increase in the amount of an outstanding any Letter of Credit), Credit to occur if such Issuing Lender has received notice from the Issuing Bank shall provide notice of Administrative Agent or the Required Lenders that the conditions to such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersamendment have not been met.
Appears in 2 contracts
Sources: Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp), Revolving Credit, Term Loan and Guaranty Agreement (Delphi Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Administrative Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice signed by a Responsible Officer of the Administrative Borrower requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Administrative Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 US$15,000,000 and (ii) the sum of the total aggregate Revolving Credit Exposures of all Lenders shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Idexx Laboratories Inc /De), Credit Agreement (Idexx Laboratories Inc /De)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying which of the Borrowers shall be the account party with respect thereto, the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 200,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon , and (iii) the issuance Dollar Equivalent of a Letter the aggregate amount of all Revolving Loans, Letters of Credit, Swingline Loans and Alternate Currency Loans denominated in Foreign Currency shall not exceed $300,000,000; (iv) the Dollar Equivalent of the amount of all LC Exposure with respect to Letters of Credit issued for the account of Subsidiary Borrowers shall not exceed $100,000,000; and (or amendment, renewal, extension or termination v) the Dollar Equivalent of an outstanding Letter the aggregate LC Exposure associated with the Letters of Credit), Credit issued by the applicable Issuing Bank shall provide notice not exceed $75,000,000 without the consent of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Manitowoc Co Inc), Credit Agreement (Manitowoc Co Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall deliver by hand deliver, e-mail or telecopy facsimile (or transmit by electronic communicationthrough Electronic System, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of of, but in any event no less than three (3) Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested In addition, as a condition to issue any such Letter of CreditCredit issuance, the applicable Borrower also shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application on in each case, as required by the Issuing Bank and using such Issuing Bank’s 's standard form in connection with any request for (each, a “Letter of CreditCredit Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure shall not exceed $30,000,000 and 20,000,000 (or up to $35,000,000 in Administrative Agent’s Permitted Discretion upon the Borrower Representative’s request), (ii) no Revolving Lender’s Revolving Exposure shall exceed its Revolving Commitment and (iii) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total lesser of the Aggregate Revolving CommitmentsCommitment and the Borrowing Base. Promptly upon Notwithstanding the issuance foregoing or anything to the contrary contained herein, no Issuing Bank shall be obligated to issue or modify any Letter of Credit if, immediately after giving effect thereto, the outstanding LC Exposure in respect of all Letters of Credit issued by such Person and its Affiliates would exceed such Issuing Bank’s Issuing Bank Sublimit. Without limiting the foregoing and without affecting the limitations contained herein, it is understood and agreed that the Borrower Representative may from time to time request that an Issuing Bank issue Letters of Credit in excess of its individual Issuing Bank Sublimit in effect at the time of such request, and each Issuing Bank agrees to consider any such request in good faith. Any Letter of Credit so issued by an Issuing Bank in excess of its individual Issuing Bank Sublimit then in effect shall nonetheless constitute a Letter of Credit (or amendmentfor all purposes of this Agreement, renewal, extension or termination of an outstanding Letter of Credit), and shall not affect the Issuing Bank shall provide notice Sublimit of such issuanceany other Issuing Bank, amendment, renewal, extension or termination subject to the Administrative Agent limitations on the aggregate LC Exposure set forth in clause (if different from the Issuing Banki) of this Section 2.06(b), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Cricut, Inc.), Credit Agreement (Cricut, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably at least 3 Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency thereof, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed U.S. $30,000,000 100,000,000 and (ii) the sum aggregate of the total Revolving Credit Exposures shall not exceed the total aggregate Revolving Commitments. Promptly upon the issuance of a Each Letter of Credit denominated in a Foreign Currency (or amendment, renewal, extension or termination other than Letters of Credit denominated in Canadian Dollars) shall have an outstanding Letter undrawn face amount of Credit), at least the Issuing Bank shall provide notice U.S. Dollar Amount of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders$500,000.
Appears in 2 contracts
Sources: Credit Agreement (Quad/Graphics, Inc.), Credit Agreement (Quad/Graphics, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall deliver by hand deliver, e-mail or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 9:00 am, Chicago time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and the Approved LC Amount, (ii) the sum aggregate Revolving Exposure of the total Revolving Credit Exposures all Lenders after such issuance, renewal or extension shall not exceed the total lesser of (x) the aggregate Revolving Commitments. Promptly upon Commitments of all Lenders and (y) the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of Borrowing Base at such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenderstime.
Appears in 2 contracts
Sources: Credit Agreement (Escalade Inc), Credit Agreement (Escalade Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a an Additional Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a an Additional Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the account party, the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (cd) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit, as applicable. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments and (iii) the issuance of a Letter of total Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), Exposures shall not exceed the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall Borrowing Base then in turn promptly provide notice of same to the Revolving Lenderseffect.
Appears in 2 contracts
Sources: Credit Agreement (Kindred Healthcare Inc), Credit Agreement (Kindred Healthcare, Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail or telecopy deliver (or transmit by electronic communication, including facsimile, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably not less than five (5) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.07(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation by the Borrower that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the total LC Exposure shall not exceed the Aggregate LC Commitment, (ii) the aggregate maximum face amount of Letters of Credit issued by any Issuing Bank shall not exceed such Issuing Bank’s Individual LC Commitment and (iii) the total Revolving Credit Exposures shall not exceed the total Commitments. No Issuing Bank will issue a Letter of Credit if, after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the total LC Exposure would exceed the Aggregate LC Commitment or (ii) the total Revolving Credit Exposures would exceed the total Commitments. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A ; provided that, in the event of any direct or indirect conflict between such application or any Letter of Credit shall be issued, amended, renewed or extended only if (Agreement and upon issuance, amendment, renewal or extension the terms of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit)this Agreement, the Issuing Bank terms of this Agreement shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenderscontrol.
Appears in 2 contracts
Sources: Credit Agreement (Rattler Midstream Lp), Credit Agreement (Rattler Midstream Lp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Company shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank requested to issue such Letter of CreditBank) to such the relevant Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three (3) Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested In addition, as a condition to issue any such Letter of CreditCredit issuance, the Borrower also Company shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application on application, in each case, as required by an Issuing Bank and using such Issuing Bank’s standard form in connection with any request for (each, a “Letter of CreditCredit Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, subject to Sections 2.04 and 2.11(c), (i) the Dollar Amount of the LC Exposure shall not exceed $30,000,000 and 30,000,000, (ii) the sum of (x) the total Revolving aggregate undrawn amount of all outstanding Letters of Credit Exposures issued by any Issuing Bank at such time plus (y) the aggregate amount of all LC Disbursements made by such Issuing Bank that have not yet been reimbursed by or on behalf of the Company at such time (such sum for any Issuing Bank at any time of determination, its “Outstanding LC Amount”) shall not exceed such Issuing Bank’s Letter of Credit Commitment (provided that, notwithstanding this clause (ii) but at all times subject to the total Revolving Commitments. Promptly upon immediately preceding clause (i) and the issuance of immediately succeeding clauses (iii), (iv) and (v), an Issuing Bank may, in its sole discretion, agree to issue, amend, renew or extend a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of if such issuance, amendment, renewal, renewal or extension or termination to the Administrative Agent (if different from the would cause such Issuing Bank’s Outstanding LC Amount to exceed its Letter of Credit Commitment), who (iii) the sum of the Dollar Amount of the Total Revolving Credit Exposures of all Lenders shall not exceed the Aggregate Revolving Commitment, (iv) the Dollar Amount of each Lender’s Revolving Credit Exposure shall not exceed such Lender’s Revolving Commitment, and (v) the Dollar Amount of the LC Exposure with respect to all Multi-Year LCs shall not exceed $10,000,000. The Company may, at any time and from time to time, reduce the Letter of Credit Commitment of any Issuing Bank with the consent of such Issuing Bank; provided that the Company shall not reduce the Letter of Credit Commitment of any Issuing Bank if, after giving effect to such reduction, the conditions set forth in turn promptly provide notice of same to the Revolving Lendersimmediately preceding clauses (i) through (v) shall not be satisfied.
Appears in 2 contracts
Sources: Credit Agreement (Haemonetics Corp), Credit Agreement (Haemonetics Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of CreditCredit (other than an automatic renewal permitted pursuant to paragraph (c) of this Section), the Borrower shall hand deliver, e-mail deliver or telecopy fax (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of Creditrecipient) to such the Issuing Bank and the Administrative Agent (Agent, reasonably in advance of the requested date of issuance, amendment, renewal or extension) , a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the requested date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to enable the Issuing Bank to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Creditsuch request. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon each issuance, amendment, renewal or extension of each any Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall will not exceed $30,000,000 15,000,000 and (ii) the sum of the total Aggregate Revolving Credit Exposures shall Exposure will not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersAggregate Commitment.
Appears in 2 contracts
Sources: Credit Agreement (Shutterfly Inc), Credit Agreement (Shutterfly Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy fax (or transmit by other electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested communication subject to issue such Letter of CreditSection 12.01(b)) to such the applicable Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extensionextension (or such shorter period of time as may be acceptable to the Administrative Agent and the applicable Issuing Bank in its sole discretion), a notice:
(i) a notice requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such time, the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation and warranty by the Borrower that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (A) the LC Exposure shall not exceed the LC Commitment and (B) the total Revolving Credit Exposures shall not exceed the total Revolving Credit Commitments (i.e., the lesser of the Aggregate Maximum Revolving Credit Amounts and the then effective Borrowing Base). No letter of credit issued by an Issuing Bank (if such Issuing Bank is not the Administrative Agent) shall be deemed to be a “Letter of Credit” issued under this Agreement unless such Issuing Bank has requested and received written confirmation from the Administrative Agent that the representations by Borrower contained in the foregoing clauses (A) and (B) are true and correct. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower shall also shall submit a letter of credit application on such the applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A ; provided that, in the event of any conflict between such application or any Letter of Credit Agreement and the terms of this Agreement, the terms of this Agreement shall control. The Issuing Bank shall not be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each under any obligation to issue any Letter of Credit the Borrower shall be deemed if there is a default of any Lender’s obligations to represent and warrant that)fund under Section 2.08(d) or any Lender is at such time a Defaulting Lender hereunder, after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), unless the Issuing Bank shall provide notice of has entered into satisfactory arrangements with the Borrower or such issuance, amendment, renewal, extension or termination Lender to the Administrative Agent (if different from eliminate the Issuing Bank), who shall in turn promptly provide notice of same ’s risk with respect to the Revolving Lenderssuch Defaulting Lender.
Appears in 2 contracts
Sources: Credit Agreement (Grizzly Energy, LLC), Credit Agreement (Vanguard Natural Resources, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Administrative Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice signed by a Responsible Officer of the Administrative Borrower requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Administrative Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 US$10,000,000 and (ii) the sum of the total aggregate Revolving Credit Exposures of all Lenders shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Parexel International Corp), Credit Agreement (Parexel International Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 9:00 am, New York time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the LC Sublimit and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total aggregate Initial Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendmentCommitments or, renewal, extension or termination of an outstanding Letter of Credit)if applicable, the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall aggregate Total Revolving Commitments then in turn promptly provide notice of same to the Revolving Lenderseffect.
Appears in 2 contracts
Sources: Credit Agreement (Shake Shack Inc.), Credit Agreement (Shake Shack Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent three Business Days (reasonably or such shorter period as may be acceptable to the Issuing Bank) in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended if and only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the total Commitments, and (ii) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Duncan Energy Partners L.P.), Revolving Credit Agreement (Enterprise Products Partners L P)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extensionextension and no later than 12:00 noon Local Time one Business Day prior to such date) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and Currency of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended on the requested date only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and the L/C Sublimit, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments and (iii) the issuance requirements of a Letter paragraph (c) of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank this Section shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersbe satisfied.
Appears in 2 contracts
Sources: Credit Agreement (Aol Time Warner Inc), Credit Agreement (Aol Time Warner Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days or such shorter period as the Issuing Bank shall agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 5,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Aggregate Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Marketaxess Holdings Inc), Credit Agreement (Marketaxess Holdings Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by to the Issuing Bank requested to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably at least three days in advance of the requested date of issuance, amendment, renewal or extensionextension or such shorter time period agreed upon by the Issuing Bank and the Borrower) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Sectionbelow), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If Following receipt of such notice and prior to the issuance of the requested by Letter of Credit or the applicable amendment, renewal or extension, the Administrative Agent shall notify the Borrower, the Issuing Bank requested and the Lenders of the amount of the Aggregate Revolving Exposure after giving effect to issue (i) the issuance, amendment, renewal or extension of such Letter of Credit, (ii) the Borrower also shall submit a letter issuance or expiration of credit application on any other Letter of Credit that is to be issued or will expire prior to the requested date of issuance of such Issuing Bank’s standard form in connection with Letter of Credit and (iii) the borrowing or repayment of any request for a Revolving Loans that (based upon notices delivered to the Administrative Agent by the Borrower) are to be borrowed or repaid prior to the requested date of issuance of such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (iA) the LC L/C Exposure shall not exceed $30,000,000 10,000,000 and (iiB) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total Total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersCommitment.
Appears in 2 contracts
Sources: Credit Agreement (Telecorp Communications Inc), Credit Agreement (Telecorp PCS Inc /Va/)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic renewal in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower Applicant Party shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably two (2) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepareissue, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower Applicant Party also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, issuance amendment, renewal or extension (i) the LC Revolving L/C Exposure shall not exceed $30,000,000 850 million, and (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total Revolving Facility Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Massey Energy Co), Credit Agreement (Alpha Natural Resources, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying which of the Borrowers shall be the account party with respect thereto, the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 125,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon , and (iii) the issuance Dollar Equivalent of a Letter the aggregate amount of all Revolving Loans, Letters of Credit, Swingline Loans and Alternate Currency Loans denominated in Foreign Currency shall not exceed $300,000,000; (iv) the Dollar Equivalent of the amount of all LC Exposure with respect to Letters of Credit issued for the account of Subsidiary Borrowers shall not exceed $100,000,000; and (or amendment, renewal, extension or termination v) the Dollar Equivalent of an outstanding Letter the aggregate LC Exposure associated with the Letters of Credit), Credit issued by the applicable Issuing Bank shall provide notice not exceed $75,000,000 without the consent of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Manitowoc Co Inc), Credit Agreement (Manitowoc Co Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic renewal in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower Applicant Party shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably two (2) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepareissue, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower Applicant Party also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, issuance amendment, renewal or extension (i) the LC Revolving L/C Exposure shall not exceed $30,000,000 950 million, and (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total Revolving Facility Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Amendment Agreement (Alpha Natural Resources, Inc.), Credit Agreement (Alpha Natural Resources, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent three Business Days (reasonably or such shorter period as may be acceptable to the Issuing Bank in advance of the requested date of issuance, amendment, renewal or extension) ), a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit, as applicable. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended if and only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Enterprise GP Holdings L.P.), Credit Agreement (Enterprise GP Holdings L.P.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), a Borrower or the Borrower Company (on behalf of any Borrowing Subsidiary) shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.22), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue Lender, such Letter Borrower or the Company (on behalf of Credit, the Borrower any Borrowing Subsidiary) also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments and (iii) the issuance LC Exposure of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the any Issuing Bank Lender shall provide notice of not exceed such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersLender’s LC Sublimit.
Appears in 2 contracts
Sources: Five Year Revolving Credit Facility Agreement (Mead Johnson Nutrition Co), Revolving Credit Facility Agreement (Mead Johnson Nutrition Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such any Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice: (i) requesting the issuance of a Letter of Credit, Credit or identifying the outstanding Letter of Credit issued by such Issuing Bank to be amended, renewed or extended, and ; (ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ; (iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c)); (civ) of this Section), specifying the amount of such Letter of Credit, ; (v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and (vi) specifying the amount of the then effective Borrowing Base, the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). If requested by the any Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon with respect to each notice provided by the Borrower above and any issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i1) the LC Exposure shall not exceed $30,000,000 the LC Commitment and (ii2) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments (i.e. the issuance lesser of a Letter of the Aggregate Maximum Credit (or amendment, renewal, extension or termination of an outstanding Letter of CreditAmounts and the then effective Borrowing Base), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Black Elk Energy Finance Corp.), Credit Agreement (Magnum Hunter Resources Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit by any Issuing Bank (or the amendment, renewal or extension of an outstanding Letter of CreditCredit issued by any Issuing Bank), the a Borrower shall hand deliver, e-mail deliver or telecopy transmit by facsimile or email (or transmit by other electronic communication, if arrangements for doing so have been approved by the such Issuing Bank requested to issue such Letter of CreditBank) to such Issuing Bank and with a copy to the Administrative Agent not later than (reasonably i) 1:00 p.m., New York City time, one Business Day before the Effective Date in advance the case of the requested Effective Date Letters of Credit, (ii) 11:00 a.m., New York City time, three Business Days before the proposed date such Letter of Credit (other than an Effective Date Letter of Credit) is to be issued and (iii) 11:00 a.m., New York City time, three Business Days before the proposed date of issuance, any amendment, renewal or extension) extension of a notice Letter of Credit, a Letter of Credit Request requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 3.01(c)), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit or bank guarantee application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended by an Issuing Bank only if (and and, upon issuance, amendment, renewal or extension of each Letter of Credit Credit, the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the Total LC Exposure shall not exceed $30,000,000 the Aggregate Commitments, and (ii) the sum portion of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter Total LC Exposure attributable to Letters of Credit (or amendmentissued by such Issuing Bank will not, renewal, extension or termination of an outstanding Letter of Credit), the unless such Issuing Bank shall provide notice so agree in accordance with Section 3.01(j), exceed the LC Commitment of such Issuing Bank, provided that the Borrowers shall not reduce the Commitment of any Issuing Bank if, after giving effect of such reduction, the conditions set forth in clauses (i) and (ii) above shall not be satisfied. Unless the applicable Issuing Bank has received written notice from any Lender, the Administrative Agent or any Obligor, before 4:30 p.m., New York City time, on the Business Day immediately prior to the requested date of issuance, amendment, renewalrenewal or extension of the applicable Letter of Credit that one or more applicable conditions contained in Section 5.02 shall not then be satisfied, extension or termination then, subject to the Administrative Agent (if different from terms and conditions hereof, such Issuing Bank shall, on the Issuing Bank)requested date, who shall in turn promptly provide notice issue, amend, renew or extend, as applicable, such Letter of same to the Revolving LendersCredit.
Appears in 2 contracts
Sources: Lc Credit Agreement (Weatherford International PLC), Lc Credit Agreement and u.s. Security Agreement (Weatherford International PLC)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of no Lender’s Credit Exposure shall exceed its Commitment and (iii) the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Revolving Credit Agreement (BrightSphere Investment Group Inc.), Revolving Credit Agreement (OM Asset Management PLC)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall deliver by hand deliver, e-mail or telecopy facsimile (or transmit by electronic communicationthrough Electronic Systems, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of of, but in any event no less than three (3) Business Days prior to, the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure shall not exceed $30,000,000 and 30,000,000, (ii) the sum of aggregate Standby LC Exposure shall not exceed $30,000,000, (iii) no Lender’s Revolving Exposure shall exceed its Commitment and (iv) the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total Revolving CommitmentsLine Cap. Promptly upon Notwithstanding anything herein to the contrary, prior to requesting the issuance of a Letter of Credit (Credit, the Administrative Agent shall have received such letter of credit applications or amendment, renewal, extension or termination of an outstanding Letter of Credit), master agreement as may be required by the Issuing Bank (and reasonably acceptable to Administrative Agent), which applications and/or agreements shall provide notice be properly completed and executed. Notwithstanding the foregoing or anything to the contrary contained herein, no Issuing Bank shall be obligated to issue or modify any Letter of Credit if, immediately after giving effect thereto, the outstanding LC Exposure in respect of all Letters of Credit issued by such Person and its Affiliates would exceed such Issuing Bank’s Issuing Bank Sublimit. Without limiting the foregoing and without affecting the limitations contained herein, it is understood and agreed that any Borrower may from time to time request that an Issuing Bank issue Letters of Credit in excess of its individual Issuing Bank Sublimit in effect at the time of such issuancerequest, amendmentand each Issuing Bank agrees to consider any such request in good faith. Any Letter of Credit so issued by an Issuing Bank in excess of its individual Issuing Bank Sublimit then in effect shall nonetheless constitute a Letter of Credit for all purposes of the Credit Agreement, renewaland shall not affect the Issuing Bank Sublimit of any other Issuing Bank, extension or termination subject to the Administrative Agent limitations on the aggregate LC Exposure set forth in clause (if different from the Issuing Banki) of this Section 2.06(b), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Chefs' Warehouse, Inc.), Credit Agreement (Chefs' Warehouse, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, communication if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably at least three Business Days in advance of the requested date of issuance, amendment, renewal or extension, or such shorter period as is acceptable to such respective Issuing Bank) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Credit, Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall not exceed $30,000,000 15.0 million and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably not later than three (3) Business Days (or such shorter period as the applicable Issuing Bank shall agree) in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested In addition, as a condition to issue any such Letter of CreditCredit issuance, the Borrower also shall have entered into a continuing agreement (or other letter of credit agreement) for the issuance of letters of credit and/or shall submit a letter of credit application on application, in each case, as required by the applicable Issuing Bank and using such Issuing Bank’s standard form in connection with any request for (each, a “Letter of CreditCredit Agreement”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the amount of the LC Exposure shall not exceed $30,000,000 and 10,000,000, (ii) no Lender’s Revolving Credit Exposure shall exceed its Commitment, (iii) the Total Revolving Credit Exposure shall not exceed the aggregate Commitments and (iv) with respect to any Issuing Bank, the sum of the total Revolving aggregate undrawn amount of all outstanding Letters of Credit Exposures issued by such Issuing Bank at such time plus the aggregate amount of all LC Disbursements made by such Issuing Bank that have not yet been reimbursed by or on behalf of the Borrower at such time shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (Commitment of such Issuing Bank. The Borrower may, at any time and from time to time, reduce or amendment, renewal, extension or termination of an outstanding increase the Letter of Credit)Credit Commitment of any Issuing Bank as provided in the definition of Letter of Credit Commitment; provided that the Borrower shall not reduce or increase the Letter of Credit Commitment of any Issuing Bank if, after giving effect of such reduction or increase, the Issuing Bank conditions set forth in clauses (i) through (iv) above shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersnot be satisfied.
Appears in 2 contracts
Sources: Credit Agreement (Nextgen Healthcare, Inc.), Credit Agreement (Quality Systems, Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall deliver by hand deliver, e-mail or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 10:00 am, New York time, at least three (3) Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the aggregate LC Exposure shall not exceed $30,000,000 and 20,000,000, (ii) no Revolving Lender’s Revolving Exposure shall exceed its Revolving Commitment and (iii) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total lesser of the Aggregate Revolving Commitments. Promptly upon Commitment and the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersBorrowing Base.
Appears in 2 contracts
Sources: Credit Agreement (Opko Health, Inc.), Credit Agreement (Opko Health, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice signed by a Responsible Officer of the Borrower requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 10,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Harris Interactive Inc), Credit Agreement (Harris Interactive Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or any Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such letter of credit constitutes a Standby Letter of Credit or a Trade Letter of Credit, and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal amendment or extension (i) the LC total Revolving L/C Exposure shall not exceed $30,000,000 and the Letter of Credit Sublimit, (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total Revolving Facility Commitments. Promptly upon , (iii) the issuance of a total Revolving Facility Credit Exposure shall not exceed the Borrowing Base, and (iv) no Alternate Currency Letter of Credit (or amendmentshall be issued if, renewal, extension or termination of an outstanding Letter of Credit)after giving effect thereto, the Issuing Bank shall provide notice aggregate amount of such issuance, amendment, renewal, extension or termination Revolving L/C Exposure with respect to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice all Alternate Currency Letters of same to the Revolving LendersCredit would exceed $25.0 million.
Appears in 2 contracts
Sources: Credit Agreement (Quality Distribution Inc), Credit Agreement (Quality Distribution Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such any Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice: (i) requesting the issuance of a Letter of Credit, Credit or identifying the outstanding Letter of Credit issued by such Issuing Bank to be amended, renewed or extended, and ; (ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ; (iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c)); (civ) of this Section), specifying the amount of such Letter of Credit, ; (v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and (vi) specifying the amount of the then effective Borrowing Base, the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). If requested by the any Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon with respect to each notice provided by the Borrower above and any issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (iA) the LC Exposure shall not exceed $30,000,000 the LC Commitment and (iiB) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Commitments (i.e. the issuance lesser of a Letter of the Aggregate Maximum Credit (or amendment, renewal, extension or termination of an outstanding Letter of CreditAmount and the then effective Borrowing Base), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Ellora Energy Inc), Credit Agreement (Ellora Energy Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower Representative shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably at least three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or any Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower Representative also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit Credit, the Borrower Representative shall be deemed to represent and warrant that), after giving effect to such issuance, amendmentamendment or extension, renewal or extension (i) the LC Revolving Facility Credit Exposure shall not exceed $30,000,000 the applicable Revolving Facility Commitments and (ii) the sum of the total aggregate Revolving Credit Exposures shall L/C Exposure does not exceed the total Revolving CommitmentsL/C Sublimit. Promptly upon For the issuance avoidance of a Letter of Credit (or amendmentdoubt, renewal, extension or termination of no Issuing Bank shall be obligated to issue an outstanding Alternate Currency Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Presidio, Inc.), Credit Agreement (Presidio, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof, the currency thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the LC Sublimit and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Loan Agreement (Cheesecake Factory Inc), Loan Agreement (Cheesecake Factory Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue Bank, it being agreed that JPMorgan Chase Bank, N.A. hereby approves such Letter of Creditarrangements) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the an Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (GNC Acquisition Holdings Inc.), Credit Agreement (General Nutrition International Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Lead Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Applicable Issuing Bank requested to issue such Letter of CreditBank) to such the Applicable Issuing Bank and the Administrative Agent (reasonably in advance of prior to 12:30 p.m. at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Applicable Issuing Bank requested to issue such Letter of CreditBank, the Lead Borrower also shall submit a letter of credit application on such the Applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 15,000,000, (ii) the sum total Revolving Exposure shall not exceed the lesser of the total Revolving Credit Exposures Commitments and the Borrowing Base and (iii) the Issuing Bank Issued Amount with respect to the Applicable Issuing Bank shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice Individual Sublimit of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Applicable Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Revolving Loan Credit Agreement (ConvergeOne Holdings, Inc.), Revolving Loan Credit Agreement (Forum Merger Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent three Business Days (reasonably or such shorter period as may be acceptable to the Issuing Bank in advance of the requested date of issuance, amendment, renewal or extension) ), a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended if and only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Revolving Credit Facility (Williams Randa Duncan), Revolving Credit Facility (Williams Randa Duncan)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the applicable Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by to the Issuing Bank requested to issue such Letter of Credit) to such applicable Issuing Bank and the Administrative Agent (reasonably in advance of of, but not later than 10:00 a.m., New York City time, five Business Days before, the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Sectionbelow), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If Following receipt of such notice and prior to the issuance of the requested by Letter of Credit or the applicable amendment, renewal or extension, the Administrative Agent shall notify the Borrowers, each Lender and the applicable Issuing Bank requested of the amount of the Aggregate Credit Exposure after giving effect to issue (i) the issuance, amendment, renewal or extension of such Letter of Credit, (ii) the Borrower also shall submit a letter issuance or expiration of credit application on any other Letter of Credit that is to be issued or will expire prior to the requested date of issuance of such Issuing Bank’s standard form in connection with Letter of Credit and (iii) the borrowing or repayment of any request for a Loans that (based upon notices delivered to the Administrative Agent by the Borrowers) are to be borrowed or repaid prior to the requested date of issuance of such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), (i) after giving effect to such issuance, amendment, renewal or extension (iA) the LC L/C Exposure shall not exceed $30,000,000 350,000,000 and (iiB) the sum of the total Revolving Aggregate Credit Exposures Exposure shall not exceed the total Revolving Commitments. Promptly upon Total Commitment, (ii) in the issuance case of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), that will expire later than the Issuing Bank shall provide notice first anniversary of such issuance, amendment, renewalrenewal or extension, extension or termination the applicable Borrower, the applicable Issuing Bank and the Required Lenders shall have reached agreement on the fees to be applicable thereto as contemplated by the Administrative Agent last sentence of Section 2.07(c) and (if different from iii) in the Issuing Bankevent the Maturity Date shall have been extended as provided in Section 2.12(d), who the sum of the LC Exposures attributable to Letters of Credit expiring after any Existing Maturity Date (as defined in Section 2.12(d)) and the Competitive Loan Exposures attributable to Competitive Loans maturing after such Existing Maturity Date shall in turn promptly provide notice not exceed the aggregate Commitments that have been extended to a date after the expiration date of same to the Revolving Lenderslast of such Letters of Credit and the maturity of the last of such Competitive Loans.
Appears in 2 contracts
Sources: Credit Facility Agreement (ITT Corp), Five Year Competitive Advance and Revolving Credit Facility Agreement (Itt Industries Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.4), the amount of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such Letter of Credit is a documentary or trade Letter of Credit or a standby Letter of Credit, and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s Lender's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure of the Issuing Lender (determined for these purposes without giving effect to the participations therein of the Revolving Credit Lenders pursuant to paragraph (d) of this Section 2.4) shall not exceed $30,000,000 12,500,000 and (ii) the sum of the total Revolving Credit Exposures Exposure shall not exceed the total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Affinity Group Inc), Credit Agreement (Affinity Group Holding, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 11:00 a.m., New York City time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the Total LC Exposure shall not exceed $30,000,000 10,000,000 and (ii) the sum of the total Total Revolving Credit Exposures Exposure shall not exceed the total Total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersCommitment.
Appears in 2 contracts
Sources: Credit Agreement (DG FastChannel, Inc), Credit Agreement (DG FastChannel, Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail or telecopy deliver as permitted by Section 12.01(a) (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditIssuer) to such Issuing Bank any Issuer and the Administrative Agent (reasonably not less than five (5) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice in the form of Exhibit 2.08(b):
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit issued by such Issuer to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such time, the current Total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma Total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the Letter of Credit Exposure shall not exceed the Letter of Credit Commitment and (ii) the Total Revolving Credit Exposures shall not exceed the lesser of the Aggregate Maximum Credit Amount and the then effective Borrowing Base. If requested by the Issuing Bank requested to issue such Letter of Creditany Issuer, the Borrower also shall submit a letter of credit application on such Issuing BankIssuer’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Constellation Energy Partners LLC), Credit Agreement (Constellation Energy Partners LLC)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section 2.05) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.05), the amount and currency (which may be Dollars or any Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal amendment or extension (i) the LC Revolving L/C Exposure shall not exceed $30,000,000 and the Letter of Credit Sublimit, (ii) the sum of the total Revolving Facility Credit Exposures Exposure shall not exceed the total applicable Revolving Facility Commitments, (iii) the Revolving L/C Exposure in respect of Letters of Credit issued by such Issuing Bank shall not exceed the Letter of Credit Commitment of such Issuing Bank and (iv) with respect to each Revolving Facility Lender, the sum of (A) the aggregate principal amount such Lender’s Revolving Facility Loans of such Class outstanding at such time plus (B) the Swingline Exposure of such Lender applicable to such Class at such time plus (C) such Lender’s Revolving Facility Percentage of the Revolving L/C Exposure applicable to such Class then outstanding shall not exceed such Lender’s Revolving Facility Commitment of such Class. Promptly upon For the avoidance of doubt, no Issuing Bank shall be obligated to issue an Alternate Currency Letter of Credit if such Issuing Bank does not otherwise issue letters of credit in such Alternate Currency. Notwithstanding anything to the contrary set forth herein, no Issuing Bank shall be required to issue any Letter of Credit if the issuance of a such Letter of Credit (would violate one or amendment, renewal, extension or termination more policies of an outstanding Letter of Credit), the such Issuing Bank shall provide notice applicable to letters of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenderscredit.
Appears in 2 contracts
Sources: Credit Agreement (Apollo Global Management, Inc.), Credit Agreement (Apollo Global Management LLC)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (cb) of this Section), the amount of such Letter of Credit, the Person for whose account such Letter of Credit shall be issued, the name and address of the beneficiary thereof and such other information as shall be reasonably necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditLender, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s Lender s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures 325,000,000. No Issuing Lender shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendmentpermit any such issuance, renewal, extension or termination amendment resulting in an increase in the amount of an outstanding any Letter of Credit), Credit to occur if such Issuing Lender has received notice from the Issuing Bank shall provide notice of Administrative Agent or the Required Lenders that the conditions to such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersamendment have not been met.
Appears in 2 contracts
Sources: Revolving Credit, Term Loan and Guaranty Agreement, Revolving Credit, Term Loan and Guaranty Agreement
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding any Letter of Credit), the Administrative Borrower shall hand deliver, e-mail or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by deliver to the Issuing Bank requested to issue such Letter of Credit) to such applicable Issuing Bank and the Administrative Agent (reasonably Agent, at least three Business Days in advance of the requested date of issuanceissuance (or such shorter period as is acceptable to the applicable Issuing Bank or, in the case of any issuance to be made on the Closing Date, one Business Day prior to the Closing Date), a Letter of Credit Request. To request an amendment, extension or renewal or extension) a notice requesting the issuance of an outstanding Letter of Credit (other than any automatic extension of a Letter of CreditCredit permitted under Section 2.05(c)) the Administrative Borrower shall submit a Letter of Credit Request to the applicable Issuing Bank selected by the Administrative Borrower (with a copy to the Administrative Agent) at least three Business Days in advance of the requested date of amendment, extension or renewal (or such shorter period as is acceptable to the applicable Issuing Bank), identifying the Letter of Credit to be amended, renewed extended or extendedrenewed, and specifying the proposed date of issuance, amendment, renewal or extension (which shall be a Business Day)) and other details of the amendment, extension or renewal. If requested by the date on which such Letter of Credit is to expire (which shall comply applicable Issuing Bank in connection with paragraph (c) of this Section), the amount of such any request for any Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of Credit, the Administrative Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form in connection with of letter of credit application or other agreement submitted by the Administrative Borrower to, or entered into by the Administrative Borrower with, the applicable Issuing Bank relating to any request for a Letter of Credit, the terms and conditions of this Agreement shall control. A No Letter of Credit, letter of credit application or other document entered into by any Borrower with any Issuing Bank relating to any Letter of Credit shall contain any representation or warranty, covenant or event of default not set forth in this Agreement (and to the extent inconsistent herewith shall be rendered null and void (or reformed automatically without further action by any Person to conform to the terms of this Agreement), and all representations and warranties, covenants and events of default set forth therein shall contain standards, qualifications, thresholds and exceptions for materiality or otherwise consistent with those set forth in this Agreement (and, to the extent inconsistent herewith, shall be deemed to automatically incorporate the applicable standards, qualifications, thresholds and exceptions set forth herein without action by any Person). No Letter of Credit may be issued, amended, extended or renewed or extended only if unless (and upon on the issuance, amendment, extension or renewal or extension of each Letter of Credit the Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, extension, or renewal or extension (i) (A) the LC Exposure shall does not exceed the Letter of Credit Sublimit (taking the Dollar Equivalent of the amount of any Letter of Credit denominated in an Alternate Currency), (B) with respect to any Letter of Credit to be issued by JPMorgan Chase Bank, N.A., ▇▇▇▇▇ Fargo Bank, N.A., PNC Bank, N.A., Bank of America, N.A. or ING Capital LLC, the aggregate undrawn amount (plus unpaid LC Disbursements) of all outstanding Letters of Credit issued by JPMorgan Chase Bank, N.A., ▇▇▇▇▇ Fargo Bank, N.A., PNC Bank, N.A., Bank of America, N.A. or ING Capital LLC does not exceed $30,000,000 in each case and (ii) (A) the sum aggregate amount of the total Initial Revolving Credit Exposures Exposure shall not exceed the total aggregate amount of the Initial Revolving Commitments. Promptly upon Credit Commitments then in effect, (B) the issuance aggregate amount of a the Additional Revolving Credit Exposure attributable to any Class of Additional Revolving Credit Commitments does not exceed the aggregate amount of the Additional Revolving Credit Commitments of such Class then in effect and (C) if such Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), has a term that extends beyond the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same Maturity Date applicable to the Revolving LendersCredit Commitments of any Class, the aggregate amount of the LC Exposure attributable to Letters of Credit expiring after such Maturity Date does not exceed the aggregate amount of the Revolving Credit Commitments then in effect that are scheduled to remain in effect after such Maturity Date.
Appears in 2 contracts
Sources: Credit Agreement (Syneos Health, Inc.), Credit Agreement (Syneos Health, Inc.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. (i) To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Company shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower Company also shall submit a letter of credit application on such Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (ix) the LC Exposure shall not exceed $30,000,000 25,000,000 and (iiy) the sum of the total Revolving Global Credit Exposures shall not exceed the total Revolving Global Commitments. .
(ii) Promptly upon after receipt of a notice requesting the issuance issuance, amendment, renewal or extension of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the applicable Issuing Bank shall provide notice will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such notice from the Company and, if not, such Issuing Bank will provide the Administrative Agent with a copy thereof. Upon receipt by such Issuing Bank of confirmation from the Administrative Agent that the requested issuance, amendment, renewalrenewal or extension is permitted in accordance with the terms hereof, extension or termination then, subject to the Administrative Agent (if different from terms and conditions hereof, such Issuing Bank shall, on the requested date, issue a Letter of Credit for the account of the Company or enter into the applicable amendment, renewal or extension, as the case may be, in each case in accordance with such Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders's usual and customary business practices.
Appears in 1 contract
Sources: Credit Agreement (Oakley Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the U.S. Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 12:00 noon, New York City time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the U.S. Borrower also shall submit a letter of credit application on such the Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the U.S. Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the lesser of the total U.S. Revolving Commitments. Promptly upon Commitments and the issuance U.S. Borrowing Base and (iii) the form of a such requested Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), is satisfactory to the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to and the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersAgent.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy transmit by facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank requested to issue such Letter of CreditBank) to such an Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the such Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 10,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit Commitments and (or amendment, renewal, extension or termination of an outstanding Letter of Credit)iii) subject to Section 2.04, the Issuing Bank Dollar Amount of the total Revolving Credit Exposure denominated in Foreign Currencies shall provide notice of such issuance, amendment, renewal, extension or termination to not exceed the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersForeign Currency Sublimit.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communicationthrough Electronic Systems, if arrangements for doing so have been approved by the relevant Issuing Bank requested to issue such Letter of CreditBank) to such an Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three (3) Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the such Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure shall not exceed $30,000,000 10,000,000 and (ii) the sum Borrowers shall be in compliance with the Revolving Exposure Limitations. Notwithstanding the foregoing or anything to the contrary contained herein, no Issuing Bank shall be obligated to issue or modify any Letter of Credit if, immediately after giving effect thereto, the total Revolving outstanding LC Exposure in respect of all Letters of Credit Exposures issued by such Person and its Affiliates would exceed such Issuing Bank’s Issuing Bank Sublimit. Without limiting the foregoing and without affecting the limitations contained herein, it is understood and agreed that the Borrower Representative may from time to time request that an Issuing Bank issue Letters of Credit in excess of its individual Issuing Bank Sublimit in effect at the time of such request, and each Issuing Bank agrees to consider any such request in good faith. Any Letter of Credit so issued by an Issuing Bank in excess of its individual Issuing Bank Sublimit then in effect shall not exceed the total Revolving Commitments. Promptly upon the issuance of nonetheless constitute a Letter of Credit (or amendmentfor all purposes of the Credit Agreement, renewal, extension or termination of an outstanding Letter of Credit), and shall not affect the Issuing Bank shall provide notice Sublimit of such issuanceany other Issuing Bank, amendment, renewal, extension or termination subject to the Administrative Agent limitations on the aggregate LC Exposure set forth in clause (if different from the Issuing Banki) of this Section 2.06(b), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit, as applicable), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably not less than five (5) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the current total aggregate Revolving Outstanding Amounts (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit, as applicable) and the pro forma total aggregate Revolving Outstanding Amounts (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit, as applicable). Each notice shall constitute a representation by the Borrower that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the LC Exposure shall not exceed the LC Commitment and (ii) the total aggregate Revolving Outstanding Amounts shall not exceed the Aggregate Commitments. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter Letter of credit application Credit Agreement on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: Debtor in Possession Credit Agreement (Aurora Oil & Gas CORP)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the face amount of such Letter of Credit, the currency in which such Letter of Credit shall be denominated, the name and address of the beneficiary thereof and such other information as shall be reasonably necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall not exceed $30,000,000 50,000,000 and (ii) the sum of the total aggregate Revolving Credit Exposures shall not exceed the total aggregate Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: First Lien Credit Agreement (Jda Software Group Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business DayDay during the Availability Period), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of CreditCredit (each, an “LC Application”). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section 2.05) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail or telecopy (deliver or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested Bank, to issue such Letter of Credit) to such the applicable Issuing Bank and the Administrative Agent (reasonably at least three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the applicable Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.05), the amount and currency (which may be Dollars or any Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such Letter of Credit constitutes a Standby Letter of Credit or a Trade Letter of Credit and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendmentamendment or extension, renewal or extension (i) the LC Revolving Facility Credit Exposure shall not exceed $30,000,000 and the applicable Revolving Facility Commitments, (ii) the sum of the total Revolving Credit Exposures L/C Exposure shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit Sublimit and (or amendment, renewal, extension or termination of an outstanding Letter of Credit)iii) with respect to the applicable Issuing Bank, the stated amount of all outstanding Letters of Credit issued by such Issuing Bank shall provide notice not exceed the applicable Specified L/C Sublimit of such issuanceIssuing Bank then in effect. For the avoidance of doubt, amendment, renewal, extension or termination no Issuing Bank shall be obligated to the Administrative Agent (issue an Alternate Currency Letter of Credit if different from the such Issuing Bank), who shall Bank does not otherwise issue letters of credit in turn promptly provide notice of same to the Revolving Lenderssuch Alternate Currency.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), a Borrower or the Borrower Company (on behalf of any Borrowing Subsidiary) shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditLender) to such the Issuing Bank Lender and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this SectionSection 2.22), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue Lender, such Letter Borrower or the Company (on behalf of Credit, the Borrower any Borrowing Subsidiary) also shall submit a letter of credit application on such the Issuing BankLender’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower Company shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and 50,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon , (iii) the issuance LC Exposure of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the any Issuing Bank Lender shall provide notice of not exceed such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersLender’s LC Sublimit.
Appears in 1 contract
Sources: Revolving Credit Facility Agreement (Mead Johnson Nutrition Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To In order to request the issuance of a Letter of Credit (or the amendmentto amend, renewal renew or extension of extend an outstanding existing Letter of Credit), the any Borrower or any Guarantor shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of Credit) to such an Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day)extension, the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Sectionbelow), the face amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend prepare such Letter of Credit. If Following receipt of such notice and prior to the issuance of the requested by Letter of Credit or the applicable amendment, renewal or extension, the Administrative Agent shall notify the Borrowers and the applicable Issuing Bank requested of the amount of the Aggregate Credit Exposure after giving effect to issue (i) the issuance, amendment, renewal or extension of such Letter of Credit, (ii) the Borrower also shall submit a letter issuance or expiration of credit application each other Letter of Credit that is to be issued or will expire on or prior to the requested date of issuance of such Issuing Bank’s standard form in connection with Letter of Credit and (iii) the borrowing or repayment of any request for a Revolving Loans that (based upon notices delivered to the Administrative Agent by the Borrowers) are to be borrowed or repaid on or prior to the requested date of issuance of such Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (if, and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (iA) the LC L/C Exposure shall not exceed $30,000,000 50,000,000 and (iiB) the sum of the total Revolving Aggregate Credit Exposures Exposure shall not exceed the total Total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersCommitment.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof thereof, the currency in which the Borrower proposes such Letter of Credit be denominated and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 25,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: Credit Agreement (Sauer Danfoss Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Borrowing Agent shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of not later than 11:00 a.m. Local Time at least two Business Days prior to the requested date of issuance, amendment, renewal or extension) extension a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower Borrowing Agent also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. Such application may be sent by facsimile by United States mail, by overnight courier, by electronic transmission using the system provided by the Issuing Bank, by personal delivery or by any other means acceptable to the Issuing Bank. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrowing Agent, the Company or the applicable US Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the LC Sublimit and (ii) the sum of the total aggregate Multicurrency Revolving Credit Exposures shall will not exceed the total Revolving aggregate Multicurrency Commitments. Promptly upon the issuance of a The Issuing Bank shall not be under any obligation to issue any Letter of Credit if:
(A) any order, judgment or amendment, renewal, extension decree of any Governmental Authority or termination of an outstanding arbitrator shall by its terms purport to enjoin or restrain the Issuing Bank from issuing the Letter of Credit), or any law applicable to the Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall provide notice prohibit, or request that the Issuing Bank refrain from, the issuance of such issuanceletters of credit generally or the Letter of Credit in particular or shall impose upon the Issuing Bank with respect to the Letter of Credit any restriction, amendmentreserve or capital requirement (for which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Effective Date, renewalor shall impose upon the Issuing Bank any unreimbursed loss, extension cost or termination expense which was not applicable on the Effective Date and which the Issuing Bank in good ▇▇▇▇▇ ▇▇▇▇▇ material to it;
(B) the issuance of the Letter of Credit would violate one or more policies of the Issuing Bank applicable to letters of credit generally;
(C) except as otherwise agreed by the Administrative Agent (if different from and the Issuing Bank), who shall the Letter of Credit is in turn promptly provide notice an initial stated amount less than $400,000;
(D) the Letter of same Credit is to be denominated in a currency other than US Dollars;
(E) any Lender is at that time a Defaulting Lender, unless the Issuing Bank has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the Revolving LendersIssuing Bank (in its sole discretion) with the Company or such Lender to eliminate the Issuing Bank’s actual or potential Fronting Exposure (after giving effect to Section 2.22(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other Letters of Credit as to which the Issuing Bank has actual or potential Fronting Exposure, as it may elect in its sole discretion; or
(F) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.
Appears in 1 contract
Sources: Five Year Credit Agreement (Edwards Lifesciences Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue Bank, it being agreed that JPMorgan Chase Bank, N.A. hereby approves such Letter of Creditarrangements) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the an Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Total Revolving Credit Exposures Exposure shall not exceed the total Total Revolving Credit Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Administrative Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice signed by a Responsible Officer of the Administrative Borrower requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Administrative Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Administrative Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 US$10,000,000 and (ii) the sum of the total aggregate Revolving Credit Exposures of all Lenders shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Borrowing Agent shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of not later than 11:00 a.m. Local Time at least two Business Days prior to the requested date of issuance, amendment, renewal or extension) extension a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower Borrowing Agent also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrowing Agent, the Company or the applicable US Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 the LC Sublimit and (ii) the sum of the total aggregate Multicurrency Revolving Credit Exposures shall will not exceed the total Revolving aggregate Multicurrency Commitments. Promptly upon the issuance of a The Issuing Bank shall not be under any obligation to issue any Letter of Credit if:
(A) any order, judgment or amendment, renewal, extension decree of any Governmental Authority or termination of an outstanding arbitrator shall by its terms purport to enjoin or restrain the Issuing Bank from issuing the Letter of Credit), or any law applicable to the Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the Issuing Bank shall provide notice prohibit, or request that the Issuing Bank refrain from, the issuance of such issuanceletters of credit generally or the Letter of Credit in particular or shall impose upon the Issuing Bank with respect to the Letter of Credit any restriction, amendmentreserve or capital requirement (for which the Issuing Bank is not otherwise compensated hereunder) not in effect on the Effective Date, renewalor shall impose upon the Issuing Bank any unreimbursed loss, extension cost or termination expense which was not applicable on the Effective Date and which the Issuing Bank in good ▇▇▇▇▇ ▇▇▇▇▇ material to it;
(B) the issuance of the Letter of Credit would violate one or more policies of the Issuing Bank applicable to letters of credit generally;
(C) except as otherwise agreed by the Administrative Agent (if different from and the Issuing Bank), who shall the Letter of Credit is in turn promptly provide notice an initial stated amount less than $400,000;
(D) the Letter of same Credit is to be denominated in a currency other than US Dollars;
(E) any Lender is at that time a Defaulting Lender, unless the Issuing Bank has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the Revolving LendersIssuing Bank (in its sole discretion) with the Company or such Lender to eliminate the Issuing Bank’s actual or potential Fronting Exposure (after giving effect to Section 2.22(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other Letters of Credit as to which the Issuing Bank has actual or potential Fronting Exposure, as it may elect in its sole discretion; or
(F) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any drawing thereunder.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Representative shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 9:00 a.m., Chicago time, at least three Business Days prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 10,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the lesser of the total Revolving Commitments. Promptly upon Commitments and the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersBorrowing Base.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Douglas Dynamics, Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower Borrowers’ Agent shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of prior to 1:00 p.m., Central time, at least three (3) Business Days (or such shorter period as may be agreed by the Borrowers’ Agent and the Issuing Bank) prior to the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower Borrowers’ Agent also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Letter of Credit Exposure shall not exceed $30,000,000 and 60,000,000, (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon lesser of (x) the issuance of a Total Commitments and (y) the Borrowing Base and (iii) such requested Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), is satisfactory to the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to and the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersAgent.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Kaiser Aluminum Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy transmit by facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the relevant Issuing Bank requested to issue such Letter of CreditBank) to such an Issuing Bank and the Administrative Agent (reasonably in advance (provided that five Business Days’ prior notice shall be deemed reasonably in advance) of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the such Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 15,000,000 and (ii) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: Credit Agreement (Stepan Co)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic extension in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably three Business Days in advance of the requested date of issuance, amendment, renewal amendment or extensionextension or such shorter period as the Administrative Agent and the Issuing Bank in their sole discretion may agree) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed amended or extended, and specifying the date of issuance, amendment, renewal amendment or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount and currency (which may be Dollars or Alternate Currency) of such Letter of Credit, the name and address of the beneficiary thereof thereof, whether such letter of credit constitutes a Standby Letter of Credit or a Trade Letter of Credit, and such other information as shall be necessary to prepareissue, amend, renew amend or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed amended or extended only if (and upon issuance, amendment, renewal amendment or extension of each Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal amendment or extension (i) the LC total Revolving L/C Exposure shall not exceed $30,000,000 the Letter of Credit Sublimit, and the Revolving L/C Exposure with respect to all Letters of Credit issued by such Issuing Bank shall not exceed such Issuing Bank’s Letter of Credit Commitment, (ii) the sum of the total Cash Flow Revolving Facility Credit Exposures Exposure shall not exceed the total Cash Flow Revolving CommitmentsFacility Commitments and (iii) in the case of an Alternate Currency Letter of Credit, the total Revolving L/C Exposure with respect to all Alternate Currency Letters of Credit would exceed $20.0 million. Promptly upon Anything herein to the issuance of a contrary notwithstanding, Credit Suisse shall not be required to issue any Trade Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendershereunder without its consent.
Appears in 1 contract
Sources: Credit Agreement (Verso Paper Corp.)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably not later than three (3) Business Days (or such shorter period as the applicable Issuing Lender shall agree) in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the an Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the amount of the LC Exposure shall not exceed $30,000,000 and 10,000,000, (ii) no Lender’s Revolving Credit Exposure shall exceed its Commitment, (iii) the Total Revolving Credit Exposure shall not exceed the aggregate Commitments and (iv) with respect to any Issuing Bank, the sum of the total Revolving aggregate undrawn amount of all outstanding Letters of Credit Exposures issued by such Issuing Bank at such time plus the aggregate amount of all LC Disbursements made by such Issuing Bank that have not yet been reimbursed by or on behalf of the Borrower at such time shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (Commitment of such Issuing Bank. The Borrower may, at any time and from time to time, reduce or amendment, renewal, extension or termination of an outstanding increase the Letter of Credit)Credit Commitment of any Issuing Bank as provided in the definition of Letter of Credit Commitment; provided that the Borrower shall not reduce or increase the Letter of Credit Commitment of any Issuing Bank if, after giving effect of such reduction or increase, the Issuing Bank conditions set forth in clauses (i) through (iv) above shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersnot be satisfied.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to the Issuing Bank requested selected by the Borrower and to issue such Letter of Credit) to such Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice: (i) requesting the issuance of a Letter of Credit, Credit or identifying the outstanding Letter of Credit to be amended, renewed or extended, and ; (ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ; (iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.07(c)); (civ) of this Section), specifying the amount of such Letter of Credit, ; (v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and (vi) specifying the amount of the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). If requested by the such Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit, but any such application shall be subject to the final sentence of Section 2.07(a). A Letter of Credit shall be issued, amended, renewed or extended only if (and upon with respect to each notice provided by the Borrower above and any issuance, amendment, renewal or extension of each Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of extension, the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersAggregate Commitment Amount.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy fax (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or Table of Contents extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. It is understood that the reinstatement of all or a portion of a Letter of Credit in accordance with the terms thereof following a drawing thereunder shall not constitute an amendment, renewal or extension of such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 5,000,000 and (ii) the sum of the total Aggregate Revolving Credit Exposures Exposure shall not exceed the total aggregate Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a New Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably in advance of not later than three Business Days before the requested date of issuance, amendment, renewal or extension) a notice Credit Request requesting the issuance of a New Letter of Credit, or identifying the New Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such New Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such New Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such New Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s 's standard form in connection with any request for a New Letter of Credit. A New Letter of Credit shall be issued, amended, renewed or extended only if (and and, upon issuance, amendment, renewal or extension of each New Letter of Credit Credit, the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension extension, (i) the LC Exposure shall not exceed $30,000,000 the Letter of Credit Commitment and (ii) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: Credit Agreement (Bisys Group Inc)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy facsimile (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.09(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the LC Exposure shall not exceed the LC Commitment, and (ii) the total Credit Exposures shall not exceed the total Commitments. If requested by the an Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the applicable Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice (each an “LC Request”) requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (cd) of this SectionSection 2.19), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the applicable Borrower also shall submit a letter of credit application on such the applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable Borrower and Parent shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) extension, the LC Exposure shall Cap set forth in paragraph (a) above is not exceed $30,000,000 and (ii) the sum exceeded. The making of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of each request to issue, amend, renew or extend a Letter of Credit (or amendment, renewal, extension or termination of an outstanding shall be deemed to be a representation and warranty by the applicable Borrower and the Parent that such Letter of Credit)Credit may be issued in accordance with, and will not violate the Issuing Bank shall provide notice of requirements of, this Section 2.19 and that such issuance, amendment, renewalrenewal or extension does not breach the LC Cap in paragraph (a) above, extension and that, to the extent such event constitutes a Credit Extension, the conditions specified in Section 4.01 or termination 4.02, as the case may be, are satisfied in full. Notwithstanding anything to the contrary contained above or elsewhere in this Agreement, in no event shall any Issuing Bank be under any obligation to issue any Letter of Credit if at the time of such issuance (i) any order, judgment or decree of any governmental authority or arbitrator shall purport by its terms to enjoin or restrain such Issuing Bank from issuing such Letter of Credit or any requirement of law applicable to such Issuing Bank or any request or directive (whether or not having the force of law) from any governmental authority with jurisdiction over such Issuing Bank shall prohibit, or request that such Issuing Bank refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction or reserve or capital requirement (for which such Issuing Bank is not otherwise promptly compensated by the Borrower) not in effect on the date hereof, or any unreimbursed loss, cost or expense which was not applicable, in effect or known to such Issuing Bank as of the date hereof and which such Issuing Bank reasonably and in good ▇▇▇▇▇ ▇▇▇▇▇ material to it; or (ii) a condition or representation set forth in this Section 2.19 is not satisfied or is not accurate; or (iii) a Lender Default exists with respect to any Lender, unless such Issuing Bank has entered into arrangements satisfactory to it and the Borrower to eliminate such Issuing Bank’s risk with respect to the Lender which is the subject of the Lender Default, including by cash collateralizing such Lender’s Applicable Percentage of the LC Exposure. If any Israel based Lender is asked or required to issue a Letter of Credit as an Issuing Bank, to the extent required under Israeli or Bank of Israel law, rule or regulation or interpretation thereof or any internal compliance policy of such Lender, it shall be entitled to require the applicable Borrower to establish a bank account with such Lender (or Affiliate thereof) prior to the issuance of such Letter of Credit, on customary terms and conditions, which bank account may at any or all times have a balance of zero. For the avoidance of doubt, each Issuing Bank shall notify the Administrative Agent of each Letter of Credit issued by it (if different and each amendment or modification thereof) and its LC Exposure in respect thereof and the name of the applicable Borrower in respect thereof and each Lender shall be entitled to request from time to time (at reasonable intervals) from the Issuing Bank), who shall in turn promptly provide notice Administrative Agent to be advised of same to the Revolving Lenderstotal LC Exposure amount at such time.
Appears in 1 contract
Sources: Senior Unsecured Revolving Credit Agreement (Teva Pharmaceutical Industries LTD)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the U.S. Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the U.S. Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the U.S. Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the U.S. Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the Tranche B LC Exposure shall not exceed $30,000,000 and the Total Tranche B Credit-Linked Deposit, (ii) the sum of U.S. Revolving LC Exposure shall not exceed the total U.S. $ Revolving Credit LC Limit and (iii) the aggregate U.S. $ Revolving Exposures shall not exceed the total Total U.S. $ Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersCommitment.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extensionextension or such shorter period as the Issuing Bank may agree) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.08(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the then effective Borrowing Base and whether a Borrowing Base Deficiency exists at such time, the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the LC Exposure shall not exceed the LC Commitment and (ii) the total Revolving Credit Exposures shall not exceed the total Revolving Commitments (i.e. the lesser of the Aggregate Maximum Credit Amounts and the then effective Borrowing Base). If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Credit and shall guarantee the reimbursement of any Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving Lendersissued hereunder.
Appears in 1 contract
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank requested to issue such Letter of CreditBank) to such the applicable Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension, but in any event no less than three Business Days) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the applicable Issuing Bank’s 's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon Upon the issuance effectiveness of this Agreement, each Existing Letter of Credit shall, without any further action by any party, be deemed to have been issued as a Letter of Credit (or amendment, renewal, extension or termination of an outstanding hereunder on the Effective Date and shall for all purposes hereof be treated as a Letter of Credit)Credit under this Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, no Issuing Bank shall be obligated to issue or modify any Letter of Credit if, immediately after giving effect thereto, the outstanding LC Exposure in respect of all Letters of Credit issued by such Person and its Affiliates would exceed such Issuing Bank’s Issuing Bank Sublimit. Without limiting the foregoing and without affecting the limitations contained herein, it is understood and agreed that the Borrower may from time to time request that an Issuing Bank issue Letters of Credit in excess of its individual Issuing Bank Sublimit in effect at the time of such request, and each Issuing Bank may, in its sole discretion, issue Letters of Credit in excess of its individual Issuing Bank Sublimit. Any Letter of Credit so issued by an Issuing Bank in excess of its individual Issuing Bank Sublimit then in effect shall nonetheless constitute a Letter of Credit for all purposes of the Credit Agreement, and shall not affect the Issuing Bank shall provide notice Sublimit of such issuanceany other Issuing Bank, amendment, renewal, extension or termination subject to the Administrative Agent limitations on the aggregate LC Exposure set forth in clause (if different from the Issuing Banki) of this Section 2.06(b), who shall in turn promptly provide notice of same to the Revolving Lenders.
Appears in 1 contract
Sources: Credit Agreement (Marcus Corp)
Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver, e-mail deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank requested to issue such Letter of CreditBank) to such the Issuing Bank and the Administrative Agent (reasonably unless otherwise agreed by the Issuing Bank, not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice notice:
(i) requesting the issuance of a Letter of Credit, Credit or identifying the outstanding Letter of Credit to be amended, renewed or extended, and ;
(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), ;
(iii) specifying the date on which such Letter of Credit is to expire (which shall comply with paragraph Section 2.07(c));
(civ) of this Section), specifying the amount of such Letter of Credit, ;
(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit; and
(vi) specifying the amount of the current total Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit) and the pro forma total Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (x) the LC Exposure shall not exceed the LC Commitment and (y) the total Credit Exposures shall not exceed the total Commitments. If requested by the Issuing Bank requested to issue such Letter of CreditBank, the Borrower also shall submit a letter of credit application on such the Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Credit and shall guarantee the reimbursement of any Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit issued for the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the sum of the total Revolving Credit Exposures shall not exceed the total Revolving Commitments. Promptly upon the issuance account of a Letter of Credit (or amendment, renewal, extension or termination of an outstanding Letter of Credit), the Issuing Bank shall provide notice of such issuance, amendment, renewal, extension or termination to the Administrative Agent (if different from the Issuing Bank), who shall in turn promptly provide notice of same to the Revolving LendersLoan Party.
Appears in 1 contract