Common use of Procedures for Issuance and Amendment of Sterling Letters of Credit; Auto-Renewal Sterling Letters of Credit Clause in Contracts

Procedures for Issuance and Amendment of Sterling Letters of Credit; Auto-Renewal Sterling Letters of Credit. (i) Each Sterling Letter of Credit shall be issued or amended, as the case may be, upon the request of the UK Borrower delivered to the relevant Sterling L/C Issuer (with a copy to the Administrative Agent) in the form of a Sterling Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the UK Borrower. Such Sterling Letter of Credit Application must be received by the relevant Sterling L/C Issuer and the UK Administrative Agent not later than 11:00 a.m. at least two UK Business Days (or such later date and time as requested by the UK Borrower and as the relevant Sterling L/C Issuer may agree in a particular instance in its sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail satisfactory to the relevant Sterling L/C Issuer: (A) the proposed issuance date of the requested Sterling Letter of Credit (which shall be a UK Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the relevant Sterling L/C Issuer may require. In the case of a request for an amendment of any outstanding Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail satisfactory to the relevant Sterling L/C Issuer (1) the Sterling Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a UK Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Sterling L/C Issuer may require.

Procedures for Issuance and Amendment of Sterling Letters of Credit; Auto-Renewal Sterling Letters of Credit. (i) Each Sterling Letter of Credit shall be issued or amended, as the case may be, upon the request of the UK Borrower delivered to the relevant Sterling L/C Issuer (with a copy to the Administrative Agent) in the form of a Sterling Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the UK Borrower. Such Sterling Letter of Credit Application must be received by the relevant Sterling L/C Issuer and the UK Administrative Agent not later than 11:00 a.m. A.M. at least two UK Business Days (or such later date and time as requested by the UK Borrower and as the relevant Sterling L/C Issuer may agree in a particular instance in its sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Sterling L/C Issuer: (A) the proposed issuance date of the requested Sterling Letter of Credit (which shall be a UK Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the relevant Sterling L/C Issuer may require. In the case of a request for an amendment of any outstanding Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Sterling L/C Issuer (1) the Sterling Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a UK Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Sterling L/C Issuer may require.

Procedures for Issuance and Amendment of Sterling Letters of Credit; Auto-Renewal Sterling Letters of Credit. (i) Each Sterling Letter of Credit shall be issued or amended, as the case may be, upon the request of the UK Borrower delivered to the relevant Sterling L/C Issuer (with a copy to the Administrative Agent) in the form of a Sterling Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the UK Borrower. Such Sterling Letter of Credit Application must be received by the relevant Sterling L/C Issuer and the UK Administrative Agent not later than 11:00 a.m. 12:00 Noon at least two UK Business Days (or such later date and time as requested by the UK Borrower and as the relevant Sterling L/C Issuer may agree in a particular instance in its sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Sterling L/C Issuer: (A) the proposed issuance date of the requested Sterling Letter of Credit (which shall be a UK Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the relevant Sterling L/C Issuer may require. In the case of a request for an amendment of any outstanding Sterling Letter of Credit, such Sterling Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant Sterling L/C Issuer (1) the Sterling Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a UK Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant Sterling L/C Issuer may require.