Common use of Existing Letters of Guarantee Clause in Contracts

Existing Letters of Guarantee. Notwithstanding the requirements otherwise set forth in this Section 4.10, on the Effective Date, each letter of guarantee issued and outstanding under the terms of the Existing Credit Facility shall automatically be deemed to be a Documentary Credit under the Revolving Credit Facility, to be governed by the terms hereof, except as to those provisions contained in any such letter of guarantee as in effect on the Effective Date, if any, that may be inconsistent with the terms hereof.

Existing Letters of Guarantee. (1) Notwithstanding the requirements otherwise set forth in this Section 4.10Article 4, on the Effective Closing Date, each letter of guarantee issued and outstanding under the terms of the Existing Credit Facility shall automatically be deemed to be a Documentary Credit under the Revolving Credit Facility, to be governed by the terms hereof, except as to those provisions contained in any such letter of guarantee as in effect on the Effective Closing Date, if any, that may be inconsistent with the terms hereof.

Existing Letters of Guarantee. (1) Notwithstanding the requirements otherwise set forth in this Section 4.10, on the Effective Date, each letter of guarantee issued and outstanding under the terms of the Existing Credit Facility shall automatically be deemed to be a Documentary Credit under the Revolving Credit Facility, to be governed by the terms hereof, except as to those provisions contained in any such letter of guarantee as in effect on the Effective Date, if any, that may be inconsistent with the terms hereof.