Credit Facility Agreement Is

The issuance or modification of an LC facility by the LC issuer concerned shall be subject to conditions precedent, in addition to the conditions precedent referred to in Article IV (compliance with which the applicable LC issuer is unable to determine); that this LC-mechanism is reasonably satisfactory to the applicable LC issuer and that a responsible representative has executed and provided this agreement and/or other applicable instruments and arrangements with respect to this LC facility, as reasonably requested by the LC issuer or the relevant administrative agent (an “LC application facility” each). To the extent that the LC issuer concerned has not received written notification from a creditor, administrative agent or borrower at least one working day before the requested date of issue or amendment of the applicable LC facility, that one or more of the conditions applicable to Article IV are not met, that LC issuer shall, on the requested date, issues or, where appropriate, withdraws the corresponding facilities on behalf of the borrower. Modification, in accordance with the usual and usual business practices of issuer LC153. . . .

Posted Thursday, September 16th, 2021 at 2:24 am
Filed Under Category: Uncategorized
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