Common use of Assignments by Agent Clause in Contracts

Assignments by Agent. If Agent ceases to be a Lender under this Agreement by virtue of any assignment made pursuant to this SECTION 15.01, then, as of the effective date of such cessation, Citibank's obligations to issue Letters of Credit pursuant to SECTION 3.01 shall terminate and Citibank shall be an Issuing Bank hereunder only with respect to outstanding Letters of Credit issued prior to such date.

Assignments by Agent. If Agent ceases to be a Lender under this Agreement by virtue of any assignment made pursuant to this SECTION Section 15.01, then, as of the effective date of such cessation, Citibank's obligations to issue Letters of Credit pursuant to SECTION Section 3.01 shall terminate and Citibank shall be an Issuing Bank hereunder only with respect to outstanding Letters of Credit issued prior to such date.