Alternative Borrowings Clause Samples

Alternative Borrowings. (i) As an additional subfacility under the Line of Credit, during the availability period, the Bank agrees from time to time to provide the Foreign Subsidiaries letters of credit, bank guarantees and other products and services (“Alternative Borrowings”) from time to time requested by Borrower or such Foreign Subsidiaries, upon terms acceptable to Bank in its sole discretion. (ii) Each Alternative Borrowings shall be issued for a term, as designated by the Borrower, not to exceed thirty-six (36) months from the date of issuance, unless Bank, in its sole discretion, consents in writing to a longer term for any such Alternative Borrowings on terms and conditions that are satisfactory to Bank. (iii) The Alternative Borrowings shall be guaranteed by Borrower pursuant to that Guaranty Agreement signed of even date herewith.