Common use of Limitations on Issuance, Extension, Renewal and Amendment Clause in Contracts

Limitations on Issuance, Extension, Renewal and Amendment. As between each Issuing Bank, on the one hand, and the Agents and the Banks, on the other hand, each Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not received notice from the Administrative Agent as provided in Section 2.02(c) hereof that it is not authorized to do so at any time prior to the date five days prior to the date on which the notice of nonrenewal must be delivered under such Letter of Credit, in either case, notwithstanding any subsequent notices to such Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such Issuing Bank, or any other event, condition or circumstance whatsoever. Each Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any Bank, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such Issuing Bank’s election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the Banks, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.02(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank's receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any Bank, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such the Issuing Bank’s 's election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the BanksLenders, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.04(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank’s receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III 3 hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any BankLender, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such Issuing Bank’s election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the BanksLenders, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.2(a) hereof that it is not authorized to do so at any time prior to the date five days prior to the date on which the notice of nonrenewal must be delivered under such Letter of Credit, in either caseso, notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Suspension Event or a Default or Event of Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, Agreements without the consent of, and without liability to, any Agent or any BankLender, provided that any such amendment, modification or supplement that extends the expiration date of, or increases the Available Amount of or the amount available to be drawn on on, an outstanding Letter of Credit (other than an Evergreen Letter of Credit) shall be subject to Section 2.01Section 2.1 and Article III. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewalrenewal (an “Evergreen Letter of Credit”), the respective Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the Issuing Bank shall notify not permit any such extension if (A) the beneficiary thereofIssuing Bank has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in accordance with its revised form (as extended) under the terms hereof, or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven (7) Business Days prior to the date specified for such notice in such Letter of Credit, Credit for delivery of such Issuing Bank’s election a notice of non-extension (1) from the Administrative Agent that the Required Lenders have elected not to renew permit such Letter extension or (2) from the Administrative Agent, any Lender or RenRe that one or more of Creditthe applicable conditions specified in Article III is not then satisfied, and in each such case directing the Issuing Bank not to permit such extension.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the Banks, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.02(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank's receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any Bank, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With Notwithstanding anything in this Section 2.01 or elsewhere in this Agreement to the contrary, (x) no Account Party will request that any Existing Letter of Credit be amended (other than to reduce the Available Amount thereunder), renewed or extended, and the Account Parties hereby request that Mellon, as Issuing Bank with respect to the Existing Letters of Credit, provide timely notice of non-renewal to the beneficiaries thereof with respect to each Existing Letter of Credit that has automatic renewal provisions (to the extent any such Existing Letter of Credit remains outstanding at any time after up until the Expiration Date deadline for notice of non-renewal), and that provides by its terms for automatic renewal, (y) all Letters of Credit issued under this Agreement (excluding the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter Existing Letters of Credit, but including any Replacement Letters of such Credit and any other Letters of Credit issued in replacement of or in substitution for the Existing Letters of Credit) shall be issued by First Union (or any New Issuing Bank’s election not , as the case may be) in its capacity as Issuing Bank. Solely with respect to renew such the Existing Letters of Credit and any Letter of Credit Agreements delivered in connection therewith, Mellon (in its capacity as issuer of the Existing Letters of Credit) shall have all rights and benefits afforded to, and shall be bound by all duties and obligations of, the "Issuing Bank" under this Agreement, and for such purpose all references herein to the "Issuing Bank" shall be deemed to be references to Mellon in such capacity.

Limitations on Issuance, Extension, Renewal and Amendment. As --------------------------------------------------------- between each the Issuing Bank, on the one hand, and the Agents and the Banks, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.02(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank's receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any Bank, provided that any -------- such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such Issuing Bank’s election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each an Issuing Bank, on the one hand, and the Agents and the BanksLenders, on the other hand, each such Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.04(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to the date on which the notice of nonrenewal must be delivered under such Letter Issuing Bank’s receipt of Credit, in either casesuch notice), notwithstanding any subsequent notices to such Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III 3 hereof to be satisfied, any other knowledge of such Issuing Bank, or any other event, condition or circumstance whatsoever. Each An Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any BankLender, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such Issuing Bank’s election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the BanksLenders, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.02(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank’s receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Suspension Event or a Default or Event of Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, Agreements without the consent of, and without liability to, any Agent or any BankLender, provided that any such amendment, modification or supplement that extends the expiration date of, or increases the Available Amount of or the amount available to be drawn on on, an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such the Issuing Bank’s election not to renew such Letter of Credit.

Limitations on Issuance, Extension, Renewal and Amendment. As between each the Issuing Bank, on the one hand, and the Agents and the Banks, on the other hand, each the Issuing Bank shall be justified and fully protected (i) in issuing or renewing a proposed Letter of Credit (other than by the automatic renewal thereof) if such Issuing Bank has received notice from the Administrative Agent that such Issuing Bank is authorized to issue or renew such Letter of Credit, and (ii) in allowing a Letter of Credit to be automatically renewed if such Issuing Bank has not unless it shall have received notice from the Administrative Agent as provided in Section 2.02(c2.02(a) hereof that it is not authorized to do so at any time prior to (and, in the case of automatic renewals, ten days shall have passed following the date five days prior to of the date on which the notice Issuing Bank's receipt of nonrenewal must be delivered under such Letter of Credit, in either casenotice), notwithstanding any subsequent notices to such the Issuing Bank, any knowledge of a Default, any knowledge of failure of any condition specified in Article III hereof to be satisfied, any other knowledge of such the Issuing Bank, or any other event, condition or circumstance whatsoever. Each The Issuing Bank may amend, modify or supplement Letters of Credit or Letter of Credit Agreements, or waive compliance with any condition of issuance, renewal or payment, without the consent of, and without liability to, any Agent or any Bank, provided that any such amendment, modification or supplement that extends the expiration date or increases the Available Amount of or the amount available to be drawn on an outstanding Letter of Credit shall be subject to Section Section 2.01. With respect to each Letter of Credit that remains outstanding at any time after the Expiration Date and that provides by its terms for automatic renewal, the respective Issuing Bank shall notify the beneficiary thereof, in accordance with the terms specified for such notice in such Letter of Credit, of such the Issuing Bank’s 's election not to renew such Letter of Credit.. Notwithstanding anything in this Section 2.02 or elsewhere in this Agreement to the contrary, (x) no Account Party will request that the Existing Mellon Letter of Credit be amended (other than to reduce the Available Amount thereunder), renewed or extended, and the Account Parties hereby request that Mellon, as Issuing Bank with respect to the Existing Mellon Letter of Credit, provide timely notice of non-renewal to the beneficiary thereof (to the extent the Existing Mellon Letter of Credit remains outstanding up until the deadline for notice of non-renewal), and in any event if the Existing Mellon Letter of Credit shall nevertheless be outstanding at any time after the Expiration Date, Mellon hereby agrees to provide such notice of non-renewal to the beneficiary thereof, and (y) all Letters of Credit issued under this Agreement (excluding the Existing Mellon Letter of Credit, but including any Letters of Credit issued in replacement of or in substitution for the Existing Mellon Letter of Credit) shall be issued by Wachovia (or any New Issuing Bank, as the case may be) in its capacity as