Common use of Procedure for Amendments of Letters of Credit Clause in Contracts

Procedure for Amendments of Letters of Credit. The Borrowers’ Agent may from time to time request an amendment (including any extension) to any outstanding Letter of Credit by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent a Letter of Credit Request which shall specify: (i) the Letter of Credit to be amended; (ii) the requested date of the proposed amendment; (iii) the nature of the proposed amendment; and (iv) the delivery instructions for such amendment. Notwithstanding anything herein to the contrary, no Issuing Lender shall be obligated to extend any Letter of Credit if, after giving effect to the extension of such Letter of Credit, the aggregate outstanding L/C Obligations attributed to Letters of Credit issued by such Issuing Lender exceeds such Issuing Lender’s Issuance Cap.