Common use of Expiry of Letters of Credit Clause in Contracts

Expiry of Letters of Credit. The Issuing Lender may, at its election (or shall, when required by the Agent at the direction of the Majority Lenders), deliver any notices of termination or other communications to any Letter of Credit beneficiary or transferee, or take any other action as necessary or appropriate, at any time and from time to time, in order to cause the expiry date of such Letter of Credit to be a date not later than the Revolving Expiry Date, unless such later date has been previously approved by the Agent and all the Lenders in writing and such Letter of Credit is fully cash collateralized.

Expiry of Letters of Credit. The Issuing Lender Bank may, at its election (or shall, when required by the Agent at the direction of the Majority LendersBanks), deliver any notices of termination or other communications to any Letter of Credit beneficiary or transferee, or take any other action as necessary or appropriate, at any time and from time to time, in order to cause the expiry date of such Letter of Credit to be a date not later than the Revolving Expiry Date, unless such later date has been previously approved that permitted by the Agent and all the Lenders in writing and such Letter of Credit is fully cash collateralizedthis Agreement.

Expiry of Letters of Credit. The Issuing Lender Bank may, at its election (or shall, when required by the Agent at the direction of the Majority LendersBanks), deliver any notices of termination or other communications to any Letter of Credit beneficiary or transferee, or take any other action as necessary or appropriate, at any time and from time to time, in order to cause the expiry date of such Letter of Credit to be a date not later than the Revolving Expiry Date, unless such later date has been previously approved by the Agent and all the Lenders in writing and such Letter of Credit is fully cash collateralized.not