Common use of Issuance Procedures Clause in Contracts

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, that the Issuer issue an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfied. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last Business Day prior to the Maturity Date and (ii) one (1) year from the date of its issuance.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including and, if requested by way of facsimilethe Issuer, an Application) on or before 11:00 a.m., New York City time, 10:00 a.m. on a Business Day, the Borrower may, Representative may from time to time irrevocably request, request on not less than (i) three (3) nor more than ten (10) Business Days’ prior notice, in the case of an initial issuance of a Letter of Credit and (ii) not less than one (1) Business Day’s prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of a Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that the Issuer issue an irrevocable issue, or extend the Stated Expiry Date of, a Letter of Credit in such form as may be requested by the Borrower Representative and approved by the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer exercise of its reasonable discretion, solely for the purposes described in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 8.6. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (ix) the last Business Day prior Revolving Loan Termination Date or (y) (unless otherwise agreed to by the Maturity Date and (ii) Issuer, in its sole discretion), one (1) year from the date of its issuance. The Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues. Each Existing Letter of Credit shall be deemed to be a Letter of Credit issued under this Agreement and entitled to the benefits of a Letter of Credit issued hereunder.

Issuance Procedures. By delivering to the applicable Issuer and the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m.12:00 p.m. (noon), New York City Los Angeles time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three (3) nor more than ten (10) five Business Days’ notice' notice (or such shorter or longer notice as may be acceptable to the applicable Issuer), in the case of an initial issuance of a Letter of Credit Credit, and not less than five nor more than ten Business Days' notice (unless a shorter or longer notice period is acceptable to the applicable Issuer) prior to the then existing Stated Expiry Date of a Letter of Credit, in the case of a request for the account extension of the BorrowerStated Expiry Date of a Letter of Credit, that such Issuer issue, or extend the Issuer issue Stated Expiry Date of, as the case may be, an irrevocable Letter of Credit on behalf of the Borrower (whether issued for the account of or on behalf of the Borrower or any of its Restricted Subsidiaries) in such form as may be requested by the Borrower and approved by such Issuer, for the Issuerpurposes described in Section 7.1.9. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer in writing not less than thirty (30) days’ (or such shorter period as may be acceptable Notwithstanding anything to the Issuer contrary contained herein or in its sole discretion or such longer period as may be required by the beneficiary of such any separate application for any Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that , the Borrower desires hereby acknowledges and agrees that such standby Letter of Credit not it shall be so extended, be automatically extended in accordance with obligated to reimburse the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such applicable Issuer upon each Disbursement paid under a Letter of Credit would not Credit, and it shall be satisfied. Each Letter deemed to be the obligor for purposes of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last Business Day prior to the Maturity Date and (ii) one (1) year from the date of its issuance.each such

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, on a Business Day, the Borrower may, from time to time irrevocably request, on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit for the account of the Borrower, that the Issuer issue an irrevocable Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer in writing not less than thirty (30) days’ days (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfied. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last Business Day prior to the Maturity Date and (ii) one (1) year from the date of its issuance.

Issuance Procedures. By delivering to the Revolving Loan Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, 12:00 noon on a Business Day, the Borrower may, Borrowers may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days’ prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of a standby Letter of Credit (in each case, unless a shorter notice period is agreed to by the relevant Issuer, in its sole discretion), that an Issuer issue, or extend the Issuer issue an irrevocable Stated Expiry Date of, a Letter of Credit in such form as may be requested by the Borrower Borrowers and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last five Business Day Days’ prior to the Maturity Revolving Loan Commitment Termination Date and (ii) (unless otherwise agreed to by an Issuer, in its sole discretion), one (1) year from the date of its issuance; provided that any Letter of Credit may provide for renewal periods of up to one year so long as such renewal periods do not exceed the date set forth in clause (i). Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues. Notwithstanding the foregoing, all Letters of Credit issued hereunder shall be subject to the customary procedures of the applicable Issuer.

Issuance Procedures. By delivering to the applicable Issuer and the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, 12:00 p.m. on a Business Day, the applicable Borrower may(or, in the case of any Issuance Request to be delivered prior to the Closing Date, Acquisition Co.) may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days’ prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of a standby Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that an Issuer issue, or extend the Issuer issue an irrevocable Stated Expiry Date of, a Letter of Credit in such form as may be requested by the such Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last Business Day prior to the Maturity Revolving Loan Commitment Termination Date and or Synthetic Letter of Credit Commitment Termination Date, as applicable or (ii) (unless otherwise agreed to by an Issuer, in its sole discretion) one (1) year from the date of its issuance. Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.

Issuance Procedures. By delivering to the applicable Issuer and the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, 12:00 p.m. on a Business Day, the applicable Borrower may(or, in the case of any Issuance Request to be delivered prior to the Closing Date, Acquisition Co.) may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ ' notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days' prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of a standby Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that an Issuer issue, or extend the Issuer issue an irrevocable Stated Expiry Date of, a Letter of Credit in such form as may be requested by the such Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “"Stated Expiry Date”") no later than the earlier to occur of (i) the last Business Day prior to the Maturity Revolving Loan Commitment Termination Date and or Synthetic Letter of Credit Commitment Termination Date, as applicable or (ii) (unless otherwise agreed to by an Issuer, in its sole discretion) one (1) year from the date of its issuance. Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.

Issuance Procedures. By delivering to the Administrative Agent and the relevant Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., New York City time, 10:00 a.m. on a Business Day, the Borrower may, may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days’ prior notice, in the case of a request for the account extension of the Borrower, that the Issuer issue an irrevocable Stated Expiry Date of a Standby Letter of Credit (in each case, unless a shorter notice period is agreed to by the relevant Issuer, in its sole discretion), that an Issuer issue a Letter of Credit, or extend the Stated Expiry Date of a Standby Letter of Credit, in such form as may be requested by the Borrower and approved by such Issuer, solely for the Issuerpurposes described in Section 7.1.7. Any standby In connection with any Issuance Request the Borrower and/or applicable Subsidiary shall have executed and delivered such applications, agreements and other instruments relating to such Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower as such Issuer shall have notified reasonably requested consistent with its then current practices and procedures with respect to letters of credit of the Issuer same type, provided that in writing not less than thirty (30) days’ (the event of any conflict between any such application, agreement or such shorter period as may be acceptable to other instrument and the Issuer in its sole discretion or such longer period as may be required by provisions of this Agreement, the beneficiary provisions of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedthis Agreement shall control. Each Standby Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (i) the last five Business Day Days prior to the Maturity Extended Termination Date and or (ii) unless otherwise agreed to by an Issuer, in its sole discretion, one (1) year from the date of its issuance (provided that each Standby Letter of Credit may, with the consent of the Issuer thereof in its sole discretion, provide for automatic renewals for one year periods (which in no event shall extend beyond the Extended Termination Date)). Each Commercial Letter of Credit shall by its terms be stated to expire on a date no later than the earlier to occur of (i) five Business Days prior to the Extended Termination Date or (ii) unless otherwise agreed to by an Issuer, in its sole discretion, 180 days from the date of its issuance. Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues. Each Issuer shall provide periodic reporting of Letters of Credit issued by such Issuer in a manner, and in time periods, mutually acceptable to the Administrative Agent and such Issuer. Unless notified by the Administrative Agent in writing prior to the issuance of a Letter of Credit, the applicable Issuer shall be entitled to assume that the conditions precedent to such issuance have been met.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., a.m. (New York City time, ) on a Business Day, a Borrower (or the Administrative Borrower may, on such Borrower’s behalf) may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit and not less than three (3) Business Days’ prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of an outstanding Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that the Issuer issue an irrevocable issue, or extend the Stated Expiry Date of, a Letter of Credit in a minimum amount of $25,000 in such form as may be requested by the such Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7 hereof. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (ia) the last Business Day prior to the Maturity Commitment Termination Date and or (iib) one (1) year from the date of its issuanceinitial issuance or extension, in each case unless otherwise agreed to by the Issuer in its sole discretion; provided that in the case of a Stated Expiry Date that extends beyond the Commitment Termination Date, such Letter of Credit is fully Cash Collateralized in a manner satisfactory to the Issuer on the date of its issuance (or extension, if prior to such extension the Stated Expiry Date was prior to the Commitment Termination Date). Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., a.m. (New York City time, ) on a Business Day, a Borrower (or the Administrative Borrower may, on such Borrower's behalf) may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ ' notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days' prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of an outstanding Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that the Issuer issue an irrevocable issue, or extend the Stated Expiry Date of, a Letter of Credit in a minimum amount of $25,000 in such form as may be requested by the such Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “"Stated Expiry Date”") no later than the earlier to occur of (ia) the last Business Day prior to the Maturity Commitment Termination Date and or (iib) one (1) year from the date of its issuanceinitial issuance or extension, in each case unless otherwise agreed to by the Issuer in its sole discretion; provided that in the case of a Stated Expiry Date that extends beyond the Commitment Termination Date, such Letter of Credit is fully cash collateralized in a manner satisfactory to the Issuer on the date of its issuance (or extension, if prior to such extension the Stated Expiry Date was prior to the Commitment Termination Date). Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including and, if requested by way of facsimilethe Issuer, an Application) on or before 11:00 a.m., New York City time, 10:00 a.m. on a Business Day, the Borrower may, may from time to time irrevocably request, request on not less than (i) three (3) nor more than ten (10) Business Days’ prior notice, in the case of an initial issuance of a Letter of Credit and (ii) not less than one (1) Business Day’s prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of a Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that the Issuer issue an irrevocable issue, or extend the Stated Expiry Date of, a Letter of Credit in such form as may be requested by the Borrower and approved by the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer exercise of its reasonable discretion, solely for the purposes described in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 8.6. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (ix) the last Business Day prior Revolving Loan Termination Date or (y) (unless otherwise agreed to by the Maturity Date and (ii) Issuer, in its sole discretion), one (1) year from the date of its issuance. The Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues. Each Existing Letter of Credit shall be deemed to be a Letter of Credit issued under this Agreement and entitled to the benefits of a Letter of Credit issued hereunder.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., 10:00 a.m. (New York City time, ) on a Business Day, the Borrower may, may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ ' notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days' prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date or increase of the Stated Amount of a standby Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that an Issuer issue, or extend the Issuer issue an irrevocable Stated Expiry Date or increase the Stated Amount of, a Letter of Credit in such form as may be requested by the Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “"Stated Expiry Date”") no later than the earlier to occur of (i) the last Business Day prior to the Maturity Commitment Termination Date and (ii) (unless otherwise agreed to by an Issuer, in its sole discretion), one (1) year from the date of its issuance. Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.

Issuance Procedures. By delivering to the Administrative Agent and the Issuer an Issuance Request (including by way of facsimile) on or before 11:00 a.m., a.m. (New York City time, ) on a Business Day, a Borrower (or the Administrative Borrower may, on such Borrower’s behalf) may from time to time irrevocably request, request on not less than three (3) nor more than ten (10) Business Days’ notice, in the case of an initial issuance of a Letter of Credit and not less than three Business Days’ prior notice, in the case of a request for the account extension of the BorrowerStated Expiry Date of an outstanding Letter of Credit (in each case, unless a shorter notice period is agreed to by the Issuer, in its sole discretion), that the Issuer issue an irrevocable issue, or extend the Stated Expiry Date of, a Letter of Credit in a minimum amount of $25,000 in such form as may be requested by the such Borrower and approved by such Issuer, solely for the Issuer. Any standby Letter of Credit theretofore issued which contains an “evergreen” or similar automatic extension feature shall, unless the Borrower shall have notified the Issuer purposes described in writing not less than thirty (30) days’ (or such shorter period as may be acceptable to the Issuer in its sole discretion or such longer period as may be required by the beneficiary of such Letter of Credit) prior to the date that such standby Letter of Credit is scheduled to be automatically extended that the Borrower desires that such standby Letter of Credit not be so extended, be automatically extended in accordance with the terms thereof subject to the Issuer’s right not to so extend if the conditions precedent to the issuance of such a Letter of Credit would not be satisfiedSection 7.1.7. Each Letter of Credit shall by its terms be stated to expire on a date (its “Stated Expiry Date”) no later than the earlier to occur of (ia) the last Business Day prior to the Maturity Commitment Termination Date and or (iib) one (1) year from the date of its issuanceinitial issuance or extension, in each case unless otherwise agreed to by the Issuer in its sole discretion; provided that in the case of a Stated Expiry Date that extends beyond the Commitment Termination Date, such Letter of Credit is fully cash collateralized in a manner satisfactory to the Issuer on the date of its issuance (or extension, if prior to such extension the Stated Expiry Date was prior to the Commitment Termination Date). Each Issuer will make available to the beneficiary thereof the original of the Letter of Credit which it issues.