Common use of Replacement of the Letter of Credit Issuer Clause in Contracts

Replacement of the Letter of Credit Issuer. Any Letter of Credit Issuer may be replaced at any time by written agreement among the US Borrower, the Administrative Agent, the replaced Letter of Credit Issuer and the successor Letter of Credit Issuer; provided that no Letters of Credit issued by the existing Letter of Credit Issuer shall terminate solely due to such replacement of the Letter of Credit Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the Letter of Credit Issuer. At the time any such replacement shall become effective, the US Borrower shall pay all unpaid fees accrued for the account of the replaced Letter of Credit Issuer pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor Letter of Credit Issuer shall have all the rights and obligations of the Letter of Credit Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Letter of Credit Issuer” shall be deemed to refer to such successor or to any previous Letter of Credit Issuer, or to such successor and all previous Letter of Credit Issuers, as the context shall require. After the replacement of Letter of Credit Issuer hereunder, the replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

Replacement of the Letter of Credit Issuer. Any The Letter of Credit Issuer ----------------------------------------------- may be replaced at any time by written agreement among the US Borrower, the Administrative Agent, the replaced Letter of Credit Issuer and the successor Letter of Credit Issuer; provided that no Letters of Credit issued by the -------- existing Letter of Credit Issuer shall terminate solely due to such replacement of the Letter of Credit Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the Letter of Credit Issuer. At the time any such replacement shall become effective, the US Borrower shall pay all unpaid fees accrued for the account of the replaced Letter of Credit Issuer pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor Letter of Credit Issuer shall have all the rights and obligations of the Letter of Credit Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “"Letter of Credit Issuer” " shall be deemed to refer to such successor or to any previous Letter of Credit Issuer, or to such successor and all previous Letter of Credit Issuers, as the context shall require. After the replacement of an Letter of Credit Issuer hereunder, the replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a an Letter of Credit Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

Replacement of the Letter of Credit Issuer. Any The Letter of Credit ------------------------------------------- Issuer may be replaced at any time by written agreement among the US Borrower, the Administrative Agent, the replaced Letter of Credit Issuer and the successor Letter of Credit Issuer; provided that no Letters of Credit issued by the -------- existing Letter of Credit Issuer shall terminate solely due to such replacement of the Letter of Credit Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the Letter of Credit Issuer. At the time any such replacement shall become effective, the US Borrower shall pay all unpaid fees accrued for the account of the replaced Letter of Credit Issuer pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor Letter of Credit Issuer shall have all the rights and obligations of the Letter of Credit Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “"Letter of Credit Issuer” " shall be deemed to refer to such successor or to any previous Letter of Credit Issuer, or to such successor and all previous Letter of Credit Issuers, as the context shall require. After the replacement of an Letter of Credit Issuer hereunder, the replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a an Letter of Credit Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

Replacement of the Letter of Credit Issuer. Any The Letter of Credit Issuer may be replaced at any time by written agreement among the US Borrower, the Administrative Agent, the replaced Letter of Credit Issuer and the successor Letter of Credit Issuer; provided PROVIDED that no Letters of Credit issued by the existing Letter of Credit Issuer shall terminate solely due to such replacement of the Letter of Credit Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the Letter of Credit Issuer. At the time any such replacement shall become effective, the US Borrower shall pay all unpaid fees accrued for the account of the replaced Letter of Credit Issuer pursuant to Section 2.13(b). From and after the effective date of any such replacement, (i) the successor Letter of Credit Issuer shall have all the rights and obligations of the Letter of Credit Issuer under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “"Letter of Credit Issuer” " shall be deemed to refer to such successor or to any previous Letter of Credit Issuer, or to such successor and all previous Letter of Credit Issuers, as the context shall require. After the replacement of an Letter of Credit Issuer hereunder, the replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a an Letter of Credit Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.