Common use of Procedure for Issuance of Letters of Credit Clause in Contracts

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 7 contracts

Sources: Credit Agreement (Metals Usa Inc), Credit Agreement (Landcare Usa Inc), Credit Agreement (Homeusa Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the applicable Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 6 contracts

Sources: Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.), Credit Agreement (Woodward, Inc.)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III Article 3 and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.01 and 5.2 5.02 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Section 5.02 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Immediately upon such issuance, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No The applicable Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.05 are met as though a new Letter of Credit was being requested and issued.

Appears in 6 contracts

Sources: Credit Agreement (Energizer Holdings, Inc.), Credit Agreement (Inovalon Holdings, Inc.), Credit Agreement (Energizer SpinCo, Inc.)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 5 contracts

Sources: Credit Agreement (Finishmaster Inc), Credit Agreement (Schawk Inc), Credit Agreement (Finishmaster Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Immediately upon such issuance, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No The applicable Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 4 contracts

Sources: Revolving Credit Agreement (Energizer Holdings Inc), Revolving Credit Agreement (Energizer Holdings Inc), Revolving Credit Agreement (Energizer Holdings Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Borrowers in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (c) No The Issuing Bank shall not extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 3 contracts

Sources: Credit Agreement (Marsh Supermarkets Inc), Credit Agreement (Marsh Supermarkets Inc), Credit Agreement (Marsh Supermarkets Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such the Issuing Bank's ’s usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Sections 5.1, 5.2 and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (cC) No The Issuing Bank shall not renew, extend or amend any Letter of Credit unless the requirements of this SECTION Sections 3.3, 3.4 and 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 3 contracts

Sources: Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 3 contracts

Sources: Credit Agreement (Schawk Inc), Credit Agreement (Schawk Inc), Credit Agreement (Schawk Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III Section 2.20 and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 4.1 and 5.2 4.2 hereof have been satisfied, the applicable Issuing Bank Lender shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing BankLender's usual and customary business practices and, in this connection, such Issuing Bank Lender may assume that the applicable conditions set forth in SECTION 5.2 Section 4.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank Lender shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing BankLender. (c) No Issuing Bank Lender shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 2.20 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: 5 Year Revolving Credit Agreement (TJX Companies Inc /De/), Revolving Credit Agreement (TJX Companies Inc /De/)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Kaydon Corp), Credit Agreement (Kaydon Corp)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company or a Subsidiary Borrower, as applicable in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Section 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The Promptly, and in any event not more than one (1) Business Day following the date of issuance of any Letter of Credit, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of CreditCredit (provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank), and the Administrative Agent shall promptly give notice to the Lenders of each such issuance. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Lanier Worldwide Inc), 5 Year Revolving Credit Agreement (American National Can Group Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.4 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Schawk Inc), Credit Agreement (Schawk Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower or Guarantor, as applicable, in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Short Term Credit Agreement (Ball Corp), Long Term Credit Agreement (Ball Corp)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company or a Subsidiary Borrower, as applicable in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Sections 3.3(b), 3.4(b) and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Promptly, and in any event not more than one (1) Business Day following the date of issuance of any Letter of Credit, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, Credit (provided that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank), and the Administrative Agent shall promptly give notice to the Lenders of each such issuance. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the applicable Borrower in accordance with such the Issuing Bank's ’s usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Sections 5.1 and 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Revolving Loan Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (cC) No The Issuing Bank shall not extend or amend any Letter of Credit unless the requirements of this SECTION Sections 3.3, 3.4 and 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Arvinmeritor Inc), Credit Agreement (Arvinmeritor Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company or a Subsidiary Borrower, as applicable in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Sections 3.4(b) and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Promptly, and in any event not more than one (1) Business Day following the date of issuance of any Letter of Credit, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, Credit (provided that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank), and the Administrative Agent shall promptly give notice to the Lenders of each such issuance. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Trimble Navigation LTD /Ca/), Credit Agreement (Trimble Navigation LTD /Ca/)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex telecopy notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (c) No The Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Credit Agreement (Catalina Marketing Corp/De), Credit Agreement (Catalina Marketing Corp/De)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III ‎Article 3 and provided that the applicable conditions set forth in SECTIONS 5.1 Sections ‎5.02 and 5.2 ‎5.03 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Section ‎5.03 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Immediately upon such issuance, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No The applicable Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 ‎Section 3.05 are met as though a new Letter of Credit was being requested and issued.

Appears in 2 contracts

Sources: Incremental Term Loan Amendment and Refinancing Amendment (Energizer Holdings, Inc.), Credit Agreement (Energizer Holdings, Inc.)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the applicable Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (American Architectural Products Corp)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Domestic Borrower which Letter of Credit may be requested by either Borrower or a Guarantor) in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex telecopy notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (c) No The Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Catalina Marketing Corp/De)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III Article 3 and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.02 and 5.2 5.03 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Section 5.03 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The Immediately upon such issuance, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No The applicable Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.05 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Energizer Holdings, Inc.)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Sections 5.1, 5.2 and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (cC) No The Issuing Bank shall not renew, extend or amend any Letter of Credit unless the requirements of this SECTION Sections 3.3, 3.4 and 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Steelcase Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Woodward Governor Co)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf for the account of the a Borrower or a Guarantor in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Finish Line Inc /In/)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2, 5.3 and 5.2 5.4 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Kaydon Corp)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Transportation Components Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Sections 5.1, 5.2 and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (cC) No The Issuing Bank shall not extend or amend any Letter of Credit unless the requirements of this SECTION Sections 3.3, 3.4 and 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Steelcase Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Kansas City Power & Light Co)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Kansas City Power & Light Co)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Thomas Industries Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Woodward Governor Co)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such the Issuing Bank's usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (c) No The Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Huttig Building Products Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Binks Sames Corp)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Metals Usa Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the applicable Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Woodward Governor Co)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the applicable Borrower in accordance with such the Issuing Bank's ’s usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Sections 5.1, 5.2 and 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (cC) No The Issuing Bank shall not extend or amend any Letter of Credit unless the requirements of this SECTION Sections 3.3, 3.4 and 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Arvinmeritor Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III SECTION 2.20 and provided that the applicable conditions set forth in SECTIONS 5.1 4.1 and 5.2 4.2 hereof have been satisfied, the applicable Issuing Bank Lender shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing BankLender's usual and customary business practices and, in this connection, such Issuing Bank Lender may assume that the applicable conditions set forth in SECTION 5.2 4.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank Lender shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing BankLender. (c) No Issuing Bank Lender shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 2.20 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Revolving Credit Agreement (TJX Companies Inc /De/)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III Section 2.20 and provided that the applicable conditions set forth in SECTIONS 5.1 4.1 and 5.2 4.2 hereof have been satisfied, the applicable Issuing Bank Lender shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing BankLender's usual and customary business practices and, in this connection, such Issuing Bank Lender may assume that the applicable conditions set forth in SECTION 5.2 4.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank Lender shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing BankLender. (c) No Issuing Bank Lender shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 2.20 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (TJX Companies Inc /De/)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Ifr Systems Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the an Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written written, facsimile or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Spartan Stores Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the an Agent or a Lender or has knowledge that the applicable conditions have not been met.. 51 (bB) The applicable Issuing Bank shall give the Administrative Agent written written, facsimile or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Spartan Stores Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may may, assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Quixote Corp)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 5.1, 5.2 and 5.2 5.3 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company or a Subsidiary Borrower, as applicable in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 5.3 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (bB) The Promptly, and in any event not more than one (1) Business Day following the date of issuance of any Letter of Credit, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, Credit (PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank), and the Administrative Agent shall promptly give notice to the Lenders of each such issuance. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Lanier Worldwide Inc)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III and provided that the applicable conditions set forth in SECTIONS 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written written, or telex facsimile notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDED, HOWEVER, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Precept Business Services Inc)

Procedure for Issuance of Letters of Credit. (aA) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.1, 5.2, 5.3 and 5.2 5.4 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower Company in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Revolving Lender or has knowledge that the applicable conditions have not been met. (bB) The applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit; provided, PROVIDED, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cC) No Issuing Bank shall extend or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Kaydon Corp)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE III Article 3 and provided that the applicable conditions set forth in SECTIONS 5.1 Sections 5.01 and 5.2 5.02 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's ’s usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION 5.2 Section 5.02 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (ba) The Immediately upon such issuance, the applicable Issuing Bank shall give the Administrative Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (cb) No The applicable Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION 3.4 Section 3.05 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Refinancing Amendment (Inovalon Holdings, Inc.)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Domestic Borrower which Letter of Credit may be requested by either Borrower or a Guarantor in accordance with such the Issuing Bank's ’s usual and customary business practices and, in this connection, such the Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Administrative Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Administrative Agent written or telex telecopy notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such the Issuing Bank. (c) No The Issuing Bank shall not extend (including as a result of any evergreen provision) or amend any Letter of Credit unless the requirements of this SECTION Section 3.4 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (Catalina Marketing Corp/De)

Procedure for Issuance of Letters of Credit. (a) Subject to the terms and conditions of this ARTICLE Article III and provided that the applicable conditions set forth in SECTIONS Sections 5.1 and 5.2 hereof have been satisfied, the applicable Issuing Bank shall, on the requested date, issue a Letter of Credit on behalf of the Borrower in accordance with such Issuing Bank's usual and customary business practices and, in this connection, such Issuing Bank may assume that the applicable conditions set forth in SECTION Section 5.2 hereof have been satisfied unless it shall have received notice to the contrary from the Agent or a Lender or has knowledge that the applicable conditions have not been met. (b) The applicable Issuing Bank shall give the Agent written or telex notice, or telephonic notice confirmed promptly thereafter in writing, of the issuance of a Letter of Credit, PROVIDEDprovided, HOWEVERhowever, that the failure to provide such notice shall not result in any liability on the part of such Issuing Bank. (c) No Issuing Bank shall extend or amend any Letter of Credit unless the applicable requirements of this SECTION 3.4 Section 3.5 are met as though a new Letter of Credit was being requested and issued.

Appears in 1 contract

Sources: Credit Agreement (FTD Corp)