Common use of Renewal and Termination of Letters of Credit Clause in Contracts

Renewal and Termination of Letters of Credit. No Working Capital Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the fifth Business Day prior to the Termination Date and may by its terms be renewable annually unless the relevant Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Working Capital Letter of Credit but in any event at least 30 Business Days prior to the date of automatic renewal of its election not to renew such Working Capital Letter of Credit (a “Notice of Termination”); provided that the terms of each Working Capital Letter of Credit that is automatically renewable annually shall (i) require the relevant Issuing Bank to give the beneficiary named in such Working Capital Letter of Credit notice of any Notice of Termination, (ii) permit such beneficiary, upon receipt of such notice, to draw under such Working Capital Letter of Credit prior to the date such Working Capital Letter of Credit otherwise would have been automatically renewed and (iii) not permit the expiration date (after giving effect to any renewal) of such Working Capital Letter of Credit in any event to be extended to a date later than five Business Days before the Termination Date. If a Notice of Termination is given by any Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Working Capital Letter of Credit Facility and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.01, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b) and request the issuance of additional Working Capital Letters of Credit under this Section 3.01.

Renewal and Termination of Letters of Credit. No Working Capital Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the fifth Business Day prior to the Termination Date and may by its terms be renewable annually unless the relevant L/C Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Working Capital Letter of Credit but in any event at least 30 Business Days prior to the date of automatic renewal of its election not to renew such Working Capital Letter of Credit (a “Notice of Termination”); provided that the terms of each Working Capital Letter of Credit that is automatically renewable annually shall (i) require the relevant L/C Issuing Bank to give the beneficiary named in such Working Capital Letter of Credit notice of any Notice of Termination, (ii) permit such beneficiary, upon receipt of such notice, to draw under such Working Capital Letter of Credit prior to the date such Working Capital Letter of Credit otherwise would have been automatically renewed and (iii) not permit the expiration date (after giving effect to any renewal) of such Working Capital Letter of Credit in any event to be extended to a date later than five Business Days before the Termination Date. If a Notice of Termination is given by any L/C Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Working Capital Letter of Credit L/C Facility and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.012.02, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b2.04(a) and request the issuance of additional Working Capital Letters of Credit under this Section 3.012.02.

Renewal and Termination of Letters of Credit. No Working Capital Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the fifth Business Day prior to the Termination Revolving Facility Maturity Date and may by its terms be renewable annually unless the relevant Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Working Capital Letter of Credit but in any event at least 30 Business Days (or such shorter period as the Issuing Bank may agree in its sole discretion) prior to the date of automatic renewal of its election not to renew such Working Capital Letter of Credit (a “Notice of Termination”); provided that the terms of each Working Capital Letter of Credit that is automatically renewable annually shall (i) may, at the Borrower’s option, (A) require the relevant Issuing Bank to give the beneficiary named in such Working Capital Letter of Credit notice of any Notice of TerminationTermination and (B) may, (ii) at the Borrower’s option, permit such beneficiary, upon receipt of such notice, to draw under such Working Capital Letter of Credit prior to the date such Working Capital Letter of Credit otherwise would have been automatically renewed and (iiiii) shall not permit the expiration date (after giving effect to any renewal) of such Working Capital Letter of Credit in any event to be extended to a date later than five Business Days before the Termination DateRevolving Facility Maturity Date unless cash collateralized or backstopped pursuant to arrangements satisfactory to the relevant Issuing Bank and the relevant Issuing Bank has agreed to such extension in its sole discretion. If a Notice of Termination is given by any Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Working Capital Letter of Credit Facility L/C Commitments and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.01, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b) and request the issuance of additional Working Capital Letters of Credit under this Section 3.01.

Renewal and Termination of Letters of Credit. No Working Capital Letter of Credit shall have an expiration date (including all rights of the Borrower or the beneficiary to require renewal) later than the fifth date that is five Business Day Days prior to (i) in the Termination case of any Working Capital Letter of Credit, the Maturity Date with respect to the Working Capital LC Facility and (ii) in the case of any Synthetic Letter of Credit, the Maturity Date with respect to the Synthetic LC Facility, and may by its terms be renewable annually unless the relevant Issuing Bank has notified the Borrower (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Working Capital Letter of Credit but in any event at least 30 Business Days days prior to the date of automatic renewal of its election not to renew such Working Capital Letter of Credit as a consequence of the occurrence and continuance of an Event of Default (a “"Notice of Termination”"); provided that the terms of each Working Capital Letter of Credit that is automatically renewable annually (x) shall (iA) require the relevant Issuing Bank to give the beneficiary named in such Working Capital Letter of Credit notice of any Notice of Termination, Termination and (iiB) permit such beneficiary, upon receipt of such notice, to draw under such Working Capital Letter of Credit prior to the date such Working Capital Letter of Credit otherwise would have been automatically renewed unless such Letter of Credit shall have been replaced by a letter of credit and from an issuer equivalent to the Letter of Credit to which such Notice of Termination relates and (iiiy) shall not permit the expiration date (after giving effect to any renewal) of such Working Capital Letter of Credit in any event to be extended to a date later than five Business Days before (1) in the Termination Datecase of any Working Capital Letter of Credit, the Maturity Date with respect to the Working Capital LC Facility and (2) in the case of any Synthetic Letter of Credit, the Maturity Date with respect to the Synthetic LC Facility. If a Notice of Termination is given by any Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Working Capital each Letter of Credit Facility and subject to the limits referred to above, the Borrower may request the issuance of Working Capital Letters of Credit under this Section 3.012.2.1, repay any Unreimbursed Amounts resulting from drawings thereunder pursuant to Section 2.2.6(a) or, in the case of any Working Capital Letter of Credit, repay any Working Capital L/C LC Advance resulting from drawings thereunder pursuant to Section 3.04(b) 2.2.6(b), and request the issuance of additional Working Capital Letters of Credit under this Section 3.012.2.1.

Renewal and Termination of Letters of Credit. No Working Capital Letter of Credit shall have an expiration date (including all rights of the Borrower Borrowers or the beneficiary to require renewal) later than the fifth Business Day prior to the Termination Revolving Facility Maturity Date and may by its terms be renewable annually unless the relevant Issuing Bank has notified the Borrower Borrowers (with a copy to the Administrative Agent) on or prior to the date for notice of termination set forth in such Working Capital Letter of Credit Credit, but in any event at least 30 Business Days days prior to the date of automatic renewal of its election not to renew such Working Capital Letter of Credit (a “Notice of Termination”); provided that the terms of each Working Capital Letter of Credit that is automatically renewable annually shall (i) may, at the Borrowers’ option, (A) require the relevant Issuing Bank to give the beneficiary named in such Working Capital Letter of Credit notice of any Notice of Termination, Termination and (iiB) permit such beneficiary, upon receipt of such notice, to draw under such Working Capital Letter of Credit prior to the date such Working Capital Letter of Credit otherwise would have been automatically renewed and (iiiii) shall not permit the expiration date (after giving effect to any renewal) of such Working Capital Letter of Credit in any event to be extended to a date later than five Business Days before the Termination Revolving Facility Maturity Date. If a Notice of Termination is given by any Issuing Bank pursuant to the immediately preceding sentence, such Working Capital Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Working Capital each Letter of Credit Facility and subject to the limits referred to above, the Borrower Borrowers may request the issuance of Working Capital Letters of Credit under this Section 3.01, repay any Working Capital L/C Advance resulting from drawings thereunder pursuant to Section 3.04(b) and request the issuance of additional Working Capital Letters of Credit under this Section 3.01.