Common use of Procedure for the Issuance of Letters of Credit Clause in Contracts

Procedure for the Issuance of Letters of Credit. The Borrowers’ Agent may from time to time request the issuance of a Letter of Credit from an Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify: (i) the maximum amount of such Letter of Credit and the account party therefor; (ii) if such Letter of Credit is a Performance Letter of Credit, or a Trade Letter of Credit; (iii) the requested date on which such Letter of Credit is to be issued; (iv) the purpose and nature of the proposed Letter of Credit; (v) the name and address of the beneficiary of such Letter of Credit; (vi) the expiration or termination date of the Letter of Credit; (vii) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and (viii) the delivery instructions for such Letter of Credit, and (ix) the applicable Borrower on whose behalf such requested Letter of Credit is to be issued. Notwithstanding anything herein to the contrary, no Issuing Lender shall be obligated to issue any Letter of Credit if, after giving effect to the issuance 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. If requested by the Issuing Lender, the Borrowers’ Agent also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.

Procedure for the Issuance of Letters of Credit. The Borrowers’ Agent may from time to time request the issuance of a Letter of Credit from an Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify: (i) the maximum amount of such Letter of Credit and the account party therefor; (ii) if whether such Letter of Credit is a Performance Letter of Credit, Credit or a Trade Letter of Credit; (iii) the requested date on which such Letter of Credit is to be issued; (iv) the purpose and nature of the proposed Letter of Credit; (v) the name and address of the beneficiary of such Letter of Credit; (vi) the expiration or termination date of the Letter of Credit; (vii) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and; (viii) the delivery instructions for such Letter of Credit, and (ix) the applicable Borrower on whose behalf such requested Letter of Credit is to be issued. Notwithstanding anything herein to the contrary, no Issuing Lender shall be obligated to issue any Letter of Credit if, after giving effect to the issuance 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. If requested by the Issuing Lender, the Borrowers’ Agent also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.

Procedure for the Issuance of Letters of Credit. The Borrowers’ Agent may from time to time request the issuance of a an Acquisition Facility Letter of Credit from an Acquisition Facility Issuing Lender or a Working Capital Facility Letter of Credit from a Working Capital Facility Issuing Lender by delivering to the Issuing Lender of such Letter of Credit and the Administrative Agent a Letter of Credit Request, and such other certificates, documents and other papers and information as such Issuing Lender may reasonably request (consistent with requests made by such Issuing Lender from other similarly situated account parties). Such Letter of Credit Request shall specify: (i) whether the Letter of Credit requested is to be an Acquisition Facility Letter of Credit or a Working Capital Facility Letter of Credit; (ii) the maximum amount of such Letter of Credit and the account party therefor; (iiiii) in the case of a Working Capital Facility Letter of Credit, if such Working Capital Facility Letter of Credit is a Performance Letter of Credit, or a Long Tenor Letter of Credit and/or a Trade Letter of Credit; (iiiiv) in the case of an Acquisition Facility Letter of Credit, if such Letter of Credit is to be an Acquisition Facility Acquisition Extension of Credit, an Acquisition Facility Working Capital Extension of Credit or an Acquisition Facility Maintenance Cap-Ex Extension of Credit; (v) the requested date on which such Letter of Credit is to be issued; (ivvi) the purpose and nature of the proposed Letter of Credit; (vvii) the name and address of the beneficiary of such Letter of Credit; (viviii) the expiration or termination date of the Letter of Credit; (viiix) the documents to be presented by such beneficiary in the case of a drawing or demand for payment thereunder; and; (viiix) the delivery instructions for such Letter of Credit, ; and (ixxi) the applicable Borrower on whose behalf such requested Letter of Credit is to be issued. Notwithstanding anything herein to the contrary, no Issuing Lender shall be obligated to issue any Letter of Credit if, after giving effect to the issuance 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. If requested by the Issuing Lender, the Borrowers’ Agent also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit. To the extent that any material provision of any such application is inconsistent with the provisions of this Section 3 or adds events of default, grants of security, or remedies not already contained in the Loan Documents, the provisions of this Section 3 and this Agreement shall apply and such provision shall not be given effect.