Common use of As to Letter-of-Credit Rights Clause in Contracts

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the Administrative Agent, intends to (and hereby does) assign to the Administrative Agent its rights (including its contingent rights) to the proceeds of all Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Each Grantor will promptly cause the issuer of each Collateral L/C and each nominated person (if any) with respect thereto to consent to such assignment of the proceeds thereof in substantially the form of the Consent to Assignment of Letter of Credit Rights attached hereto as Exhibit H or otherwise in form and substance satisfactory to the Administrative Agent and deliver written evidence of such consent to the Administrative Agent. (b) Upon the occurrence of a Default under Section 6.01(a) or (f) of the Credit Agreement or Event of Default, each Grantor will, promptly upon request by the Administrative Agent, (i) notify (and such Grantor hereby authorizes the Administrative Agent to notify) the issuer and each nominated person with respect to each of the Related Contracts consisting of Collateral L/Cs and any payments due or to become due in respect thereof are to be made directly to the Administrative Agent or its designee and (ii) arrange for the Administrative Agent to become the transferee beneficiary of the Collateral L/Cs.

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the Administrative Agent, intends to (and hereby does) assign to the Administrative Agent its rights (including its contingent rights) to the proceeds of all Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Each Upon the occurrence and during the continuation of a Specified Default, at the request of the Administrative Agent, each Grantor will promptly cause the issuer of each Collateral L/C letter of credit and each nominated person (if any) with respect thereto to consent to such assignment of the proceeds thereof in substantially the form of the Consent to Assignment of Letter of Credit Rights attached hereto as Exhibit H G or otherwise in form and substance satisfactory to the Administrative Agent and deliver written evidence of such consent to the Administrative Agent. (b) Upon the occurrence of and during the continuance of a Default under Section 6.01(a) or (f) of the Credit Agreement or Event of Specified Default, each Grantor will, promptly upon request by the Administrative Agent, (i) notify (and such Grantor hereby authorizes the Administrative Agent to notify) the issuer and each nominated person with respect to each of the Related Contracts consisting of Collateral L/Cs letters of credit that the proceeds thereof have been assigned to the Administrative Agent hereunder and any payments due or to become due in respect thereof are to be made directly to the Administrative Agent or its designee and (ii) arrange for the Administrative Agent to become the transferee beneficiary of the Collateral L/Csletter of credit.

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the Administrative Agent, intends to (and hereby does) assign to the Administrative Agent its rights (including its contingent rights) to the proceeds of all Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Each Grantor will promptly use its commercially reasonable efforts to cause the issuer of each Collateral L/C letter of credit and each nominated person (if any) with respect thereto to consent to such assignment of the proceeds thereof in substantially the form of the Consent to Assignment of Letter of Credit Rights attached hereto as Exhibit H G or otherwise in form and substance satisfactory to the Administrative Agent and deliver written evidence of such consent to the Administrative Agent. (b) Upon the occurrence of a Default under Section 6.01(a) or (f) of the Credit Agreement or an Event of Default, each Grantor will, promptly upon request by the Administrative Agent, : (i) notify (and such Grantor hereby authorizes the Administrative Agent to notify) the issuer and each nominated person with respect to each of the Related Contracts consisting of Collateral L/Cs letters of credit that the proceeds thereof have been assigned to the Administrative Agent hereunder and any payments due or to become due in respect thereof are to be made directly to the Administrative Agent or its designee and designee, and (ii) arrange for the Administrative Agent to become the transferee beneficiary of the Collateral L/Csletter of credit.

As to Letter-of-Credit Rights. Subject to the rights of the Term Collateral Agent under the Term Security Agreement and the General Intercreditor Agreement: (a) Each each Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the Administrative Collateral Agent, intends to (and hereby does) assign to the Administrative Collateral Agent its rights (including its contingent rights) to the proceeds of all Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assignee. Each Grantor will promptly cause the issuer of each Collateral L/C and each nominated person (if any) with respect thereto to consent to such assignment of the proceeds thereof in substantially the form of the Consent to Assignment of Letter of Credit Rights attached hereto as Exhibit H or otherwise in form and substance satisfactory to the Administrative Agent and deliver written evidence of such consent to the Administrative Agent. (b) Upon upon the occurrence of a Default under Section 6.01(a) or (f) of the Credit Agreement or an Event of Default, each Grantor will, promptly upon request by the Administrative Collateral Agent, (i) notify (and such Grantor hereby authorizes the Administrative Collateral Agent to notify) the issuer and each nominated person with respect to each of the Related Contracts consisting of letters of credit that the proceeds thereof have been assigned to the Collateral L/Cs Agent hereunder and any payments due or to become due in respect thereof are to be made directly to the Administrative Collateral Agent or its designee and (ii) arrange for the Administrative Collateral Agent to become the transferee beneficiary of the Collateral L/Csletter of credit.

As to Letter-of-Credit Rights. (a) Each Grantor, by granting a security interest in its Receivables consisting of letter-of-credit rights to the Administrative Collateral Agent, intends to (and hereby does) assign to the Administrative Collateral Agent its rights (including its contingent rights) to the proceeds of all Related Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or assigneeassignee (in each case, subject to the designee and beneficiary rights granted to the First Lien Collateral Agent). Each Grantor will promptly use commercially reasonable efforts to cause the issuer of each Collateral L/C letter of credit and each nominated person (if any) with respect thereto to consent to such assignment of the proceeds thereof in substantially the form of the Consent pursuant to Assignment of Letter of Credit Rights attached hereto as Exhibit H or otherwise a consent in form and substance reasonably satisfactory to the Administrative Collateral Agent and deliver written evidence of such consent to the Administrative Collateral Agent. (b) Upon the occurrence of a Default under Section 6.01(a8.01(a) or (f) of the Credit Agreement or Event of Default, each Grantor will, promptly upon request by the Administrative Collateral Agent, (i) notify (and such Grantor hereby authorizes the Administrative Collateral Agent to notify) the issuer and each nominated person with respect to each of the Related Contracts consisting of letters of credit that the proceeds thereof have been assigned to the Collateral L/Cs Agent hereunder and any payments due or to become due in respect thereof are to be made directly to the Administrative Collateral Agent or its designee and (ii) arrange for the Administrative Collateral Agent to become the transferee beneficiary of the Collateral L/Csletter of credit.