Common use of Expiration or Maturity Date of Letters of Credit Past Maturity Date Clause in Contracts

Expiration or Maturity Date of Letters of Credit Past Maturity Date. If on the date that is thirty (30) days prior to the Maturity Date or any such other date upon which the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date, pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing Bank, an amount of money equal to the Stated Amount of such Letter(s) of Credit for deposit into the Letter of Credit Collateral Account; provided, that the expiration date of such Letter of Credit shall be no later than the one year anniversary of the Maturity Date. If a drawing pursuant to any such Letter of Credit occurs on or prior to the expiration date of such Letter of Credit, the Borrower authorizes the Administrative Agent to use the monies deposited in the Letter of Credit Collateral Account to reimburse the Issuing Bank for the payment made by the Issuing Bank to the beneficiary with respect to such drawing or the payee with respect to such presentment. If no drawing occurs on or prior to the expiration date of such Letter of Credit, the Administrative Agent shall pay to the Borrower (or to whomever else may be legally entitled thereto) the monies deposited in the Letter of Credit Collateral Account with respect to such outstanding Letter of Credit, together with all interest accrued thereon, on or before the date thirty (30) days after the expiration date of such Letter of Credit.

Expiration or Maturity Date of Letters of Credit Past Maturity Date. If on the any date that is thirty within sixty (3060) days prior to the Maturity Date or any such other date upon which the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunderhereunder having an expiration date beyond the Maturity Date, without limiting the terms of Section 2.3(b), the Borrower shall, on such date, pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing Bank, Agent an amount of money equal to the Stated Amount of such Letter(s) of Credit for deposit into the Letter of Credit Collateral Account; provided, that the expiration date of such Letter of Credit shall be no later than the one year anniversary of the Maturity Date. If a drawing pursuant to any such Letter of Credit occurs on or prior to the expiration date of such Letter of Credit, the Borrower authorizes the Administrative Issuing Lender to notify the Agent, and authorize the Agent to use pay to the Issuing Lender monies deposited in the Letter of Credit Collateral Account for Issuing Lender to reimburse the Issuing Bank for the make payment made by the Issuing Bank to the beneficiary with respect to such drawing or the payee with respect to such presentment. If no drawing occurs on or prior to the expiration date of such Letter of Credit, the Administrative Agent shall pay to the Borrower (or to whomever else may be legally entitled thereto) withdraw the monies deposited in the Letter of Credit Collateral Account with respect to such outstanding Letter of Credit, together with all interest accrued thereon, Credit on or before the date thirty ten (3010) days Business Days after the expiration date of such Letter of CreditCredit and apply such funds to the Obligations, if any, then due and payable or pay such funds to the Borrower in the order prescribed by Section 10.3. No amount drawn under a Letter of Credit shall be subject to reinstatement.

Expiration or Maturity Date of Letters of Credit Past Maturity Date. If on the date that is thirty (30) days prior to the Maturity Date or any such other date upon which the Revolving Commitments are terminated or reduced to zero (whether voluntarily, by reason of the occurrence of an Event of Default or otherwise), there are any Letters of Credit outstanding hereunder, the Borrower shall, on such date, either (a) pay to the Administrative Agent, for its benefit and the benefit of the Lenders and the Issuing Bank, an amount of money equal to the Stated Amount of such Letter(s) of Credit for deposit into the Letter of Credit Collateral Account; provided, that or (b) deliver to the expiration date Administrative Agent one or more letters of credit, each to be in form and substance, and issued by financial institutions, reasonably satisfactory to the Administrative Agent, having an aggregate stated amount at least equal to the Stated Amount of all such Letter Letters of Credit shall less any amounts paid to the Administrative Agent to be no later than held as cash collateral under the one year anniversary of the Maturity Dateimmediately preceding clause (a). If a drawing pursuant to any such Letter of Credit occurs on or prior to the expiration date of such Letter of Credit, the Borrower authorizes the Administrative Agent to use the monies deposited in the Letter of Credit Collateral Account to reimburse the Issuing Bank for the payment made by the Issuing Bank to the beneficiary with respect to such drawing or the payee with respect to such presentment. If no drawing occurs on or prior to the expiration date of such Letter of Credit, the Administrative Agent shall pay to the Borrower (or to whomever else may be legally entitled thereto) the monies deposited in the Letter of Credit Collateral Account with respect to such outstanding Letter of Credit, together with all interest accrued thereon, on or before the date thirty (30) days after the expiration date of such Letter of Credit.