Common use of Letter of Credit Expiration Extensions Clause in Contracts

Letter of Credit Expiration Extensions. (a) Each L/C Bank acknowledges that in accordance with the terms of each Letter of Credit the expiration date of such Letter of Credit will be automatically extended for an additional year, without written amendment, unless, at least 30 days prior to December 31 of each year (commencing with December 31, 2000), notice is given by the Issuing Agent in accordance with the terms of the respective Letter of Credit (a "Notice of Non-Extension") that the Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension of Letters of Credit (occurring in the year 2000), the Issuing Agent shall not give a Notice of Non-Extension in respect of any Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested by the Required Banks will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1, 2000. In connection with any subsequent possible extension of the Letters of Credit, the Issuing Agent may, and if requested by any L/C Bank (which request any L/C Bank may make in its sole discretion) the Issuing Agent will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior to the date occurring 90 days prior to the Lloyds Coming in Line Date occurring in November, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower shall not preclude such L/C Bank from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to Lloyds.

Letter of Credit Expiration Extensions. (a) Each L/C Bank acknowledges that in accordance with the terms of each Letter of Credit the expiration date of such Letter of Credit will be automatically extended for an additional year, without written amendment, unless, at least 30 days prior to December 31 of each year (commencing with December 31, 2000), notice is given by the Issuing Agent in accordance with the terms of the respective Letter of Credit (a "Notice of Non-Extension") that the Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension of Letters of Credit (occurring in the year 2000), the Issuing Agent shall not give a Notice of Non-Extension in respect of any Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested by the Required Banks will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1, 2000. In connection with any subsequent possible extension of the Letters of Credit, the Issuing Agent may, and if requested by any L/C Bank (which request any L/C Bank may make in its sole discretion) the Issuing Agent will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior to the date occurring 90 days prior to the Lloyds Lloyd's Coming in Line Date occurring in November, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower Account Party shall not preclude such L/C Bank from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to LloydsLloyd's.

Letter of Credit Expiration Extensions. (a) Each L/C Bank Lender acknowledges that in accordance with to the extent provided under the terms of each any Letter of Credit Credit, the expiration date of such Letter of Credit will be automatically extended for an additional year, without written amendment, unless, unless at least 30 thirty (30) days prior to December 31 the expiration date of each year (commencing with December 31, 2000)such Letter of Credit, notice is given by the Issuing Agent or the relevant Issuing Lender, as the case may be, to the beneficiary of such Letter of Credit in accordance with the terms of the respective Letter of Credit (a "“Notice of Non-Extension"”) that the expiration date of such Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension of Letters ; provided that in no event shall a Letter of Credit have an expiry date, pursuant to a renewal or otherwise, later than the date that is one (occurring in 1) year following the year 2000), the Commitment Expiration Date. The Issuing Agent shall not or the relevant Issuing Lender, as the case may be, will give a Notice of Non-Extension in respect of as to any outstanding Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested to do so by the Required Banks willLenders pursuant to Section 8. The Issuing Agent or the relevant Issuing Lender, as the case may be, will give a Notice of Non-Extension as to Lloyd's in respect of each outstanding Letter of Credit no later than December 1, 2000if the Commitment Expiration Date has occurred or if the Administrative Agent shall have received a Termination Letter with respect to the Designated Subsidiary Borrower on behalf of which such Letter of Credit has been issued. In connection with any subsequent possible extension of the Letters of Credit, the The Issuing Agent mayor the relevant Issuing Lender, and if requested by any L/C Bank (which request any L/C Bank as the case may make in its sole discretion) the Issuing Agent willbe, give will send a copy of each Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior the respective Designated Subsidiary Borrower concurrently with delivery thereof to the date occurring 90 days prior to the Lloyds Coming in Line Date occurring in Novemberrespective beneficiary, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower shall not preclude such L/C Bank unless prohibited by law from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to Lloydsdoing so.

Letter of Credit Expiration Extensions. (a) Each L/C Bank Tranche 1 Lender acknowledges that in accordance with to the extent provided under the terms of each any Tranche 1 Letter of Credit Credit, the expiration date of such Tranche 1 Letter of Credit will be automatically extended for an additional year, without written amendment, unless, unless at least 30 days prior to December 31 the expiration date of each year (commencing with December 31, 2000)such Tranche 1 Letter of Credit, notice is given by the Issuing Agent or the relevant Issuing Lender, as the case may be, to the beneficiary of such Tranche 1 Letter of Credit in accordance with the terms of the respective Tranche 1 Letter of Credit (a "“Notice of Non-Extension"”) that the expiration date of such Tranche 1 Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension of Letters of Credit (occurring in the year 2000), the . The Issuing Agent shall not or the relevant Issuing Lender, as the case may be, will give a Notice of Non-Extension in respect of as to any outstanding Tranche 1 Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested to do so by the Required Banks willLenders pursuant to Section 9. The Issuing Agent or the relevant Issuing Lender, as the case may be, will give a Notice of Non-Extension as to Lloyd's in respect of each outstanding Tranche 1 Letter of Credit no later than December 1, 2000if the Commitment Expiration Date has occurred. In connection with any subsequent possible extension of the Letters of Credit, the The Issuing Agent mayor the relevant Issuing Lender, and if requested by any L/C Bank (which request any L/C Bank as the case may make in its sole discretion) the Issuing Agent willbe, give will send a copy of each Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior the respective Designated Subsidiary Borrower concurrently with delivery thereof to the date occurring 90 days prior to the Lloyds Coming in Line Date occurring in Novemberrespective beneficiary, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower shall not preclude such L/C Bank unless prohibited by law from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to Lloydsdoing so.

Letter of Credit Expiration Extensions. (a) Each L/C Bank Lender acknowledges that in accordance with to the extent provided under the terms of each any Letter of Credit Credit, the expiration date of such Letter of Credit will be automatically extended for an additional year, without written amendment, unless, unless at least 30 days (or such other period required under or by any Legal Requirement or Applicable Insurance Regulatory Authority) prior to December 31 the expiration date of each year (commencing with December 31, 2000)such Letter of Credit, notice is given by the Issuing Agent respective LC Issuer in accordance with the terms of the respective Letter of Credit (a "Notice of Non-Extension") that the expiration date of such Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension . The respective LC Issuer will give Notices of Non-Extension as to any or all outstanding Letters of Credit (occurring if requested to do so by the Required Lenders pursuant to Article VIII. The respective LC Issuer will give Notices of Non-Extension as to all outstanding Letters of Credit if the Commitment Expiration Date has occurred. Notwithstanding anything to the contrary contained in the year 2000)this Section 3.07, the Issuing Agent no LC Issuer shall not give a Notice of Non-Extension except as provided in respect the immediately preceding two sentences. The respective LC Issuer will send a copy of any Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested by the Required Banks will, give a each Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1, 2000. In connection the respective Borrower concurrently with any subsequent possible extension of the Letters of Credit, the Issuing Agent may, and if requested by any L/C Bank (which request any L/C Bank may make in its sole discretion) the Issuing Agent will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior delivery thereof to the date occurring 90 days prior to the Lloyds Coming in Line Date occurring in Novemberrespective beneficiary, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower shall not preclude such L/C Bank unless prohibited by law from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to Lloydsdoing so.

Letter of Credit Expiration Extensions. (a) Each L/C Bank Lender acknowledges that in accordance with to the extent provided under the terms of each any Letter of Credit Credit, the expiration date of such Letter of Credit will be automatically extended for an additional year, without written amendment, unless, unless at least 30 days (or such other period required under or by any Legal Requirement, Letter of Credit or Applicable Insurance Regulatory Authority) prior to December 31 the expiration date of each year (commencing with December 31, 2000)such Letter of Credit, notice is given by the Issuing Agent respective LC Issuer in accordance with the terms of the respective Letter of Credit (a "Notice of Non-Extension") that the expiration date of such Letter of Credit will not be extended beyond its current expiration date. (b) In connection with the first possible extension . The respective LC Issuer will give Notices of Non-Extension as to any or all outstanding Letters of Credit if (occurring x) requested to do so by the Required Lenders pursuant to Article VIII or (y) as to such Letter of Credit only, any outstanding Letter of Credit which would expire, if automatically extended by its terms for an additional year, on a date after October 26, 2010. The respective LC Issuer will give Notices of Non-Extension as to all outstanding Letters of Credit if the Commitment Expiration Date has occurred. Notwithstanding anything to the contrary contained in the year 2000)this Section 3.07, the Issuing Agent no LC Issuer shall not give a Notice of Non-Extension except as provided in respect the immediately preceding two sentences. The respective LC Issuer will send a copy of any Letter of Credit unless a Default or Event of Default exists at such time, in which case the Issuing Agent may, and if requested by the Required Banks will, give a each Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1, 2000. In connection the respective Borrower concurrently with any subsequent possible extension of the Letters of Credit, the Issuing Agent may, and if requested by any L/C Bank (which request any L/C Bank may make in its sole discretion) the Issuing Agent will, give a Notice of Non-Extension to Lloyd's in respect of each Letter of Credit no later than December 1st of such year. (c) Each L/C Bank agrees that on or prior delivery thereof to the date occurring 90 days prior to the Lloyds Coming in Line Date occurring in Novemberrespective beneficiary, 2001, such L/C Bank will notify the Borrower as to whether such L/C Bank intends to request the Issuing Agent to deliver Notices of Non-Extension in respect of then outstanding Letters of Credit in accordance with the last sentence of Section 2.05(b) above, provided that the failure of any L/C Bank to give such notice to the Borrower shall not preclude such L/C Bank unless prohibited by law from subsequently delivering such request to the Issuing Agent or the Issuing Agent from giving any such Notices of Non-Extension to Lloydsdoing so.