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

Procedure for Opening Letters of Credit. Upon receipt of a L/C Application from the Company, the Issuing Lender will process the request in accordance with its customary procedures. If the format of the requested Letter of Credit is reasonably acceptable to the Issuing Lender, the Issuing Lender shall promptly open such Letter of Credit, provided that such opening does not violate the conditions of the applicable subsections of this Agreement, by issuing the original of such Letter of Credit to the beneficiary and furnishing a copy to the Company. Promptly after the issuance of, or amendment to, any Standby L/C or Commercial L/C, the Issuing Lender shall notify the Administrative Agent and each Lender of such issuance or amendment.

Procedure for Opening Letters of Credit. Upon receipt of a L/C Application Letter of Credit Request from the Company, the Issuing Lender will process the request in accordance with its customary procedures. If the format of the requested Letter of Credit is reasonably acceptable to the Issuing Lender, the Issuing Lender shall promptly open such Letter of Credit, provided that such opening does not violate the conditions of the applicable subsections of this Agreementagreement, by issuing the original of such Letter of Credit to the beneficiary and furnishing a copy to the Company. Promptly after the issuance of, or amendment to, any Standby L/C or Commercial L/C, the Issuing Lender shall notify the Administrative Agent and each Lender of such issuance or amendment.