Common use of Procedure for Issuance and Renewal of Letters of Credit Clause in Contracts

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Letter of Credit by delivering a notice to the Agent pursuant to Section 3.7(e) and by delivering to such Fronting Lender at such Fronting Lender's Branch of Account a letter of credit application on such Fronting Lender's then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender, acting reasonably, together with the proposed form of such Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict. (ii) Within three (3) Business Days following the date on which the Agent shall have received the notice pursuant to Section 3.7(e) and a Fronting Lender shall have received the Letter of Credit Application including the proposed form of the Letter of Credit and such additional certificates, documents and other papers and information as such Fronting Lender may have reasonably requested in satisfaction of all conditions to the issuance thereof, such Fronting Lender shall, provided the conditions precedent in Section 8.2 have been complied with, issue such Letter of Credit. (iii) The Borrower may request the extension or renewal of a Letter of Credit issued hereunder by giving written notice to the Agent at least two (2) Business Days prior to the then current expiry date of such Letter of Credit (provided that a Fronting Lender may accommodate notices on shorter notice in its sole discretion). If the conditions precedent in Section 8.2 shall have been fulfilled as required thereby, the applicable Fronting Lender shall promptly issue such extension or renewal.

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Letter of Credit by delivering a notice to the Agent pursuant to Section 3.7(e3.6(e) and by delivering to such Fronting Lender at such Fronting Lender's ’s Branch of Account a letter of credit application on such Fronting Lender's ’s then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "“Letter of Credit Application"”), completed to the satisfaction of such Fronting Lender, acting reasonably, together with the proposed form of such Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict. (ii) Within three (3) Business Days following the date on which the Agent shall have received the notice pursuant to Section 3.7(e3.6(e) and a Fronting Lender shall have received the Letter of Credit Application including the proposed form of the Letter of Credit and such additional certificates, documents and other papers and information as such Fronting Lender may have reasonably requested in satisfaction of all conditions to the issuance thereof, such Fronting Lender shall, provided the conditions precedent in Section 8.2 have been complied with, issue such Letter of Credit. (iii) The Borrower may request the extension or renewal of a Letter of Credit issued hereunder by giving written notice to the Agent at least two (2) Business Days prior to the then current expiry date of such Letter of Credit (provided that a Fronting Lender may accommodate notices on shorter notice in its sole discretion). If the conditions precedent in Section 8.2 shall have been fulfilled as required thereby, the applicable Fronting Lender shall promptly issue such extension or renewal.

Procedure for Issuance and Renewal of Letters of Credit. (i) 7.7.1 The Borrower may request that a Fronting Lender the Administrative Agent to issue a Commercial Letter of Credit by delivering in favor of a notice seller of goods to the Agent pursuant to Section 3.7(e) and Borrower, by delivering to such Fronting Lender the Administrative Agent at such Fronting Lender's Branch of Account its office specified in Section 9.1 a commercial letter of credit application on such Fronting Lenderthe Administrative Agent's then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Commercial Letter of Credit ApplicationApplications"), completed to the satisfaction of such Fronting Lender, acting reasonablythe Administrative Agent, together with the proposed form of such Commercial Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender the Administrative Agent may reasonably request; provided that in the event of a conflict between this Agreement and the Commercial Lever of Credit Application, this Agreement shall govern with respect to such conflict. 7.7.2 The Borrower may request the Administrative Agent to issue a Standby Letter of Credit by delivering to the Administrative Agent at its office specified in Section 9.1 a standby letter of credit application on the Administrative Agent's then customary form (as such form may be modified from time to time, the "Standby Letter of Credit Application"), completed to the satisfaction of the Administrative Agent, together with the proposed form of such Standby Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as the Administrative Agent may reasonably request; provided that in the event of a conflict between this Agreement and the Standby Letter of Credit Application, this Agreement shall govern with respect to such conflict. (ii) 7.7.3 Within three (3) Business Days following the date on which the Administrative Agent shall have received an application for the notice pursuant to Section 3.7(e) and issuance of a Fronting Lender shall have received the Letter of Credit Application including the proposed form of the Letter of Credit thereof, and such additional certificates, documents and other papers and information as such Fronting Lender the Administrative Agent may have reasonably requested in satisfaction of all conditions to the issuance thereof, such Fronting Lender the Administrative Agent shall, provided the conditions precedent in Section 8.2 of Article 10 have been complied with, issue such Letter of CreditCredit (if the Borrower shall have requested that such Letter of Credit be issued immediately) or (if the Borrower shall have requested in the related Commercial Letter of Credit Application or Standby Letter of Credit Application that such Letter of Credit be issued at a later date) the Administrative Agent shall notify the Borrower that the Administrative Agent shall, provided the conditions of Article 10 have been complied with, issue such Letter of Credit on such later date, or that the Administrative Agent shall not issue such Letter of Credit by reason of a provision set forth herein. (iii) 7.7.4 The Borrower may request the extension or renewal of a Letter of Credit issued hereunder which is not automatically renewed in accordance with the terms contained therein, by giving written notice to the Administrative Agent at least two three (23) Business Days prior to the then current expiry date of such Letter of Credit (provided that a Fronting Lender the Administrative Agent may accommodate notices on shorter notice in its sole discretion). If the conditions precedent in Section 8.2 10.2 shall have been fulfilled as required thereby, the applicable Fronting Lender Administrative Agent shall promptly issue such extension or renewal. 7.7.5 With respect to any Letter of Credit issued hereunder which by its terms is automatically renewed or extended unless notice to the contrary is received by the beneficiary thereunder within the time period set forth therein (the "Revocation Period"), the Administrative Agent shall, upon receipt of notice from the Majority Lenders (which notice must be received by the Administrative Agent not later than 10:00 A.M. (Montreal time) ten (10) Business Days prior to the expiration of the Revocation Period so long as the Administrative Agent shall have notified the Lenders of such renewal or extension at least one Business Day prior to such date), to the effect that the Majority Lenders have elected not to extend the current expiry date of such Letter of Credit, promptly notify the Borrower and the beneficiary thereunder that such Letter of Credit shall not be renewed. 7.7.6 Notwithstanding anything to the contrary in this Agreement, the Administrative Agent shall have no obligation to extend or renew any Letter of Credit issued hereunder to a maturity date extending beyond the Revolving Loan Commitment Termination Date, and each Lender shall have no obligation to purchase a participation in the Administrative Agent's obligations and rights under any Letter of Credit extended or renewed to a date beyond the Revolving Loan Commitment Termination Date.

Procedure for Issuance and Renewal of Letters of Credit. (i) 7.7.1 The Borrower may request that a Fronting Lender the Administrative Agent to issue a Commercial Letter of Credit by delivering in favor of a notice seller of goods to the Agent pursuant to Section 3.7(e) and Borrower, by delivering to such Fronting Lender the Administrative Agent at such Fronting Lender's Branch of Account its office specified in Section 9.1 a commercial letter of credit application on such Fronting Lenderthe Administrative Agent's then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Commercial Letter of Credit ApplicationApplications"), completed to the satisfaction of such Fronting Lender, acting reasonablythe Administrative Agent, together with the proposed form of such Commercial Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender the Administrative Agent may reasonably request; provided that in the event of a conflict between this Agreement and the Commercial Letter of Credit Application, this Agreement shall govern with respect to such conflict. 7.7.2 The Borrower may request the Administrative Agent to issue a Standby Letter of Credit by delivering to the Administrative Agent at its office specified in Section 9.1 a standby letter of credit application on the Administrative Agent's then customary form (iias such form may be modified from time to time, the "Standby Letter of Credit Application"), completed to the satisfaction of the Administrative Agent, together with the proposed form of such Standby Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as the Administrative Agent may reasonably request; provided that in the event of a conflict between this Agreement and the Standby Letter of Credit Application, this Agreement shall govern with respect to such conflict. 7.7.3 Within three (3) Business Days following the date on which the Administrative Agent shall have received an application for the notice pursuant to Section 3.7(e) and issuance of a Fronting Lender shall have received the Letter of Credit Application including the proposed form of the Letter of Credit thereof, and such additional certificates, documents and other papers and information as such Fronting Lender the Administrative Agent may have reasonably requested in satisfaction of all conditions to the issuance thereof, such Fronting Lender the Administrative Agent shall, provided the conditions precedent in Section 8.2 of Article 10 have been complied with, issue such Letter of CreditCredit (if the Borrower shall have requested that such Letter of Credit be issued immediately) or (if the Borrower shall have requested in the related Commercial Letter of Credit Application or Standby Letter of Credit Application that such Letter of Credit be issued at a later date) the Administrative Agent shall notify the Borrower that the Administrative Agent shall, provided the conditions of Article 10 have been complied with, issue such Letter of Credit on such later date, or that the Administrative Agent shall not issue such Letter of Credit by reason of a provision set forth herein. (iii) 7.7.4 The Borrower may request the extension or renewal of a Letter of Credit issued hereunder which is not automatically renewed in accordance with the terms contained therein, by giving written notice to the Administrative Agent at least two three (23) Business Days prior to the then current expiry date of such Letter of Credit (provided that a Fronting Lender the Administrative Agent may accommodate notices on shorter notice in its sole discretion). If the conditions precedent in Section 8.2 10.2 shall have been fulfilled as required thereby, the applicable Fronting Lender Administrative Agent shall promptly issue such extension or renewal. 7.7.5 With respect to any Letter of Credit issued hereunder which by its terms is automatically renewed or extended unless notice to the contrary is received by the beneficiary thereunder within the time period set forth therein (the "Revocation Period"), the Administrative Agent shall, upon receipt of notice from the Majority Lenders (which notice must be received by the Administrative Agent not later than 10:00 A.M. (Montreal time) ten (10) Business Days prior to the expiration of the Revocation Period so long as the Administrative Agent shall have notified the Lenders of such renewal or extension at least one Business Day prior to such date), to the effect that the Majority Lenders have elected not to extend the current expiry date of such Letter of Credit, promptly notify the Borrower and the beneficiary thereunder that such Letter of Credit shall not be renewed. 7.7.6 Notwithstanding anything to the contrary in this Agreement, the Administrative Agent shall have no obligation to extend or renew any Letter of Credit issued hereunder to a maturity date extending beyond the Revolving Loan Commitment Termination Date, and each Lender shall have no obligation to purchase a participation in the Administrative Agent's obligations and rights under any Letter of Credit extended or renewed to a date beyond the Revolving Loan Commitment Termination Date.

Procedure for Issuance and Renewal of Letters of Credit. (i) The Borrower may request that a Fronting Lender issue a Fronted Letter of Credit pursuant to Section 3.8 by delivering a notice to the Agent pursuant to Section 3.7(e3.4(e) and by delivering to such a Fronting Lender at such Fronting Lender's Branch of Account a letter of credit application on and indemnity in such Fronting Lender's then customary form with appropriate changes to be consistent with the terms of this Agreement (as such form may be modified from time to time, the "Letter of Credit Application"), completed to the satisfaction of such Fronting Lender, acting reasonably, Lender together with the proposed form of such Fronted Letter of Credit (which shall comply with the applicable requirements set forth herein) and such other certificates, documents and other papers and information as such Fronting Lender may reasonably request; provided that in the event of a conflict between this Agreement and the Letter of Credit Application, this Agreement shall govern with respect to such conflict. (ii) Within three (3) Business Days following the date on which the Agent any Fronting Lender shall have received the notice pursuant to Section 3.7(e3.4(e) and a such Fronting Lender shall have received the applicable Letter of Credit Application including the proposed form of the Fronted Letter of Credit and such additional certificates, documents and other papers and information as such Fronting Lender may have reasonably requested in satisfaction of all conditions to the issuance thereof, such Fronting Lender shall, provided the all other conditions precedent contained in Section 8.2 this Agreement have been complied with, issue such Fronted Letter of Credit. (iii) The Borrower may request the extension or renewal of a Fronted Letter of Credit issued hereunder under this Section 3.8 by giving written notice to the Agent applicable Fronting Lender at least two three (23) Business Days prior to the then current expiry date of such Fronted Letter of Credit (provided that a the applicable Fronting Lender may accommodate notices on shorter notice in its sole discretion). If the all conditions precedent contained in this Agreement (including the payment of the necessary fees under Section 8.2 5.5) shall have been fulfilled as required therebythereby and subject to the other terms of this Agreement, the applicable Fronting Lender shall promptly issue such extension or renewal.