Common use of Assignment of Letter of Credit Rights Clause in Contracts

Assignment of Letter of Credit Rights. In the case of any letter-of-credit rights of any Grantor in any letter of credit exceeding $7,500,000 in value acquired following the Closing Date, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with applicable law.

Assignment of Letter of Credit Rights. In the case of any letter-of-credit rights Letter of Credit Rights of any Grantor in any letter of credit exceeding $7,500,000 in value acquired following the Closing Date, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with applicable law.

Assignment of Letter of Credit Rights. In the case of any letterLetter-of-credit rights Credit Rights of any Grantor in any letter of credit exceeding $7,500,000 5,000,000 in value acquired following the Closing Datedate hereof, such Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit in accordance with applicable lawSection 5-114(c) of the Code, pursuant to an agreement in form and substance reasonably satisfactory to the Note Collateral Agent.