Common use of Letter of Credit Accommodations Clause in Contracts

Letter of Credit Accommodations. (a) Upon the request of the LC Issuer, Borrower shall execute and deliver to the LC Issuer a Master Letter of Credit Agreement. Borrower shall give notice to Administrative Agent and the LC Issuer of the proposed issuance of each Letter of Credit Accommodation on a Business Day which is at least three (3) Business Days (or such lesser number of days as Administrative Agent and the LC Issuer shall agree in any particular instance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit Accommodation Each such notice shall be accompanied by an LC Application, duly executed by Borrower and in all respects satisfactory to Administrative Agent and the LC Issuer, together with such other documentation as Administrative Agent or the LC Issuer may request in support thereof, it being understood that each LC Application shall specify, among other things, the date on which the proposed Letter of Credit Accommodation is to be issued, the expiration date of such Letter of Credit Accommodation (which shall not be later than the Termination Date (unless such Letter of Credit Accommodation is cash collateralized pursuant to Section 10.2(b)) and whether such Letter of Credit Accommodation is to be transferable in whole or in part. Any Letter of Credit Accommodation outstanding after the Termination Date which is cash collateralized for the benefit of the LC Issuer shall be the sole responsibility of the LC Issuer. So long as the LC Issuer has not received written notice that the conditions precedent set forth in Section 4 with respect to the issuance of such Letter of Credit Accommodation have not been satisfied, and subject to the provisions of Section 2.2(h) hereof, the LC Issuer shall issue such Letter of Credit Accommodation and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any application for a Letter of Credit Accommodation and the terms of this Agreement, the terms of this Agreement shall control.

Letter of Credit Accommodations. (a) Upon Subject to, and upon the terms and conditions contained herein, at the request of the LC Issuera US Borrower, Borrower shall execute and deliver Lender agrees to the LC Issuer a Master provide or arrange for Letter of Credit Agreement. Accommodations for the account of such US Borrower shall give notice in US Dollars containing terms and conditions acceptable to Administrative Agent Lender and the LC Issuer of issuer thereof. Any payments made by Lender to any issuer thereof and/or related parties in connection with the proposed issuance of each Letter of Credit Accommodation on a Business Day which is at least three (3) Business Days (or Accommodations shall constitute additional Revolving Loans to such lesser number of days as Administrative Agent and the LC Issuer shall agree in any particular instance in their sole discretion) prior US Borrower pursuant to the proposed date of issuance of this Section 2. A US Borrower requesting such Letter of Credit Accommodation Each shall give Lender two (2) Business Days’ prior written notice of such US Borrower’s request for the issuance of a Letter of Credit Accommodation. Such notice shall be accompanied by an LC Applicationirrevocable and shall specify the original face amount of the Letter of Credit Accommodation requested, duly executed by Borrower the effective date (which date shall be a Business Day and in all respects satisfactory no event shall be a date less than ten (10) days prior to Administrative Agent and the LC Issuerend of the then current term of this Agreement) of issuance of such requested Letter of Credit Accommodation, together with whether such other documentation as Administrative Agent Letter of Credit Accommodations may be drawn in a single or the LC Issuer may request in support thereof, it being understood that each LC Application shall specify, among other thingspartial draws, the date on which such requested Letter of Credit Accommodation is to expire (which date shall be a Business Day), the proposed purpose for which such Letter of Credit Accommodation is to be issued, and the expiration date beneficiary of such the requested Letter of Credit Accommodation. A US Borrower requesting the Letter of Credit Accommodation (which shall not be later than attach to such notice the Termination Date (unless such proposed terms of the Letter of Credit Accommodation is cash collateralized pursuant to Section 10.2(b)) and whether such Letter of Credit Accommodation is to be transferable in whole or in part. Any Letter of Credit Accommodation outstanding after the Termination Date which is cash collateralized for the benefit of the LC Issuer shall be the sole responsibility of the LC Issuer. So long as the LC Issuer has not received written notice that the conditions precedent set forth in Section 4 with respect to the issuance of such Letter of Credit Accommodation have not been satisfied, and subject to the provisions of Section 2.2(h) hereof, the LC Issuer shall issue such Letter of Credit Accommodation and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any application for a Letter of Credit Accommodation and the terms of this Agreement, the terms of this Agreement shall controlAccommodation.

Letter of Credit Accommodations. (a) Upon the request of the LC Issuer, Borrower shall execute and deliver to the LC Issuer a the Master Letter of Credit Agreement. Borrower shall give notice to Administrative Agent and the LC Issuer of the proposed issuance of each Letter of Credit Accommodation on a Business Day which is at least three (3) Business Days (or such lesser number of days as Administrative Agent and the LC Issuer shall agree in any particular instance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit Accommodation Each such notice shall be accompanied by an LC Application, duly executed by Borrower and in all respects satisfactory to Administrative Agent and the LC Issuer, together with such other documentation as Administrative Agent or the LC Issuer may request in support thereof, it being understood that each LC Application shall specify, among other things, the date on which the proposed Letter of Credit Accommodation is to be issued, the expiration date of such Letter of Credit Accommodation (which shall not be later than the Termination Date (unless such Letter of Credit Accommodation is cash collateralized pursuant to Section 10.2(b)) and whether such Letter of Credit Accommodation is to be transferable in whole or in part. Any Letter of Credit Accommodation outstanding after the Termination Date which is cash collateralized for the benefit of the LC Issuer shall be the sole responsibility of the LC Issuer. So long as the LC Issuer has not received written notice that the conditions precedent set forth in Section 4 with respect to the issuance of such Letter of Credit Accommodation have not been satisfied, and subject to the provisions of Section 2.2(h) hereof, the LC Issuer shall issue such Letter of Credit Accommodation and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any application for a Letter of Credit Accommodation and the terms of this Agreement, the terms of this Agreement shall control.

Letter of Credit Accommodations. (a) Upon (i) Subject to and upon the terms and conditions contained herein, at the request of Borrower, Agent agrees, for the LC Issuerratable risk of each Lender according to its Pro Rata Share, to provide or arrange for Non-Exim Letter of Credit Accommodations for the account of Borrower containing terms and conditions reasonably acceptable to Agent and acceptable to the issuer thereof. Any payments made by or on behalf of Agent or any Lender to any issuer thereof and/or related parties in connection with the Non-Exim Letter of Credit Accommodations provided to or for the benefit of Borrower shall constitute additional Non-Exim Revolving Loans to Borrower pursuant to Section 2.1(a); provided, that if there is insufficient Non-Exim Excess Availability as of the ---- date of such payment, Borrower shall execute reimburse Agent for the amount of such payment within one (1) Business Day after demand therefor. (i) hidden level (ii) Subject to and deliver upon the terms and conditions contained herein, at the request of Borrower, Agent agrees, for the ratable risk of each Lender according to the LC Issuer a Master its Pro Rata Share, to provide or arrange for Exim Letter of Credit Accommodations for the account of Borrower containing terms and conditions reasonably acceptable to Agent and acceptable to the issuer thereof. Any payments made by or on behalf of Agent or any Lender to any issuer thereof and/or related parties in connection with the Exim Letter of Credit Accommodations provided to or for the benefit of Borrower shall constitute additional Exim Revolving Loans to Borrower pursuant to Section 2.1(b); provided, that if there is insufficient Exim Excess Availability as of the date of such payment, Borrower shall reimburse Agent for the amount of such payment within one (1) Business Day after demand therefor. (b) In addition to any charges, fees or expenses charged by any bank or issuer in connection with the Letter of Credit Accommodations, Borrower shall pay to Agent, for the benefit of Lenders, a letter of credit fee at a rate equal to the Interest Rate then in effect on the daily outstanding balance available to be drawn on the Letter of Credit Accommodations issued and outstanding for the immediately preceding month (or part thereof), payable in arrears as of the first day of each succeeding month. Such letter of credit fee shall be calculated on the basis of a three hundred sixty (360) day year and actual days elapsed and the obligation of Borrower to pay such fee shall survive the termination of this Agreement. (c) Borrower shall give Agent two (2) Business Days' prior written notice to Administrative Agent and of Borrower's request for the LC Issuer of the proposed issuance of each a Letter of Credit Accommodation on a Business Day which is at least three (3) Business Days (or such lesser number of days as Administrative Agent and the LC Issuer shall agree in any particular instance in their sole discretion) prior to the proposed date of issuance of such Letter of Credit Accommodation Each such Accommodation. Such notice shall be accompanied by an LC Application, duly executed by Borrower irrevocable and in all respects satisfactory to Administrative Agent and the LC Issuer, together with such other documentation as Administrative Agent or the LC Issuer may request in support thereof, it being understood that each LC Application shall specify, among other things, the date on which the proposed Letter of Credit Accommodation is to be issued, the expiration date of such Letter of Credit Accommodation (which shall not be later than the Termination Date (unless such Letter of Credit Accommodation is cash collateralized pursuant to Section 10.2(b)) and specify whether such Letter of Credit Accommodation is to be transferable in whole or in part. Any an Exim Letter of Credit Accommodation outstanding after or a Non-Exim Letter of Credit Accommodation, the Termination Date which is cash collateralized for the benefit original face amount of the LC Issuer Letter of Credit Accommodation requested, the effective date (which date shall be the sole responsibility a Business Day) of the LC Issuer. So long as the LC Issuer has not received written notice that the conditions precedent set forth in Section 4 with respect to the issuance of such requested Letter of Credit Accommodation, whether such Letter of Credit Accommodation have not been satisfied, and subject to the provisions of Section 2.2(h) hereofmay be drawn in a single or in partial draws, the LC Issuer shall issue such Letter of Credit Accommodation and of any amendment thereto, extension thereof or event or circumstance changing the amount available for drawing thereunder. In the event of any inconsistency between the terms of the Master Letter of Credit Agreement, any application for a Letter of Credit Accommodation and the terms of this Agreement, the terms of this Agreement shall control.29