Common use of Request for Negotiated Letter of Credit Clause in Contracts

Request for Negotiated Letter of Credit. Borrower may request issuance of a Negotiated Letter of Credit by (a) providing, no later than 11:00 A.M. (Central time) on a Banking Day, written notice to the Administrative Agent of (i) the face amount and expiry date of each Negotiated Letter of Credit which Borrower desires be issued and (ii) the identity of the Syndication Party or Parties from which Borrower intends to seek each such Negotiated Letter of Credit; (b) receiving written or oral confirmation from the Administrative Agent, to be provided no later than 11:30 A.M. (Central time), that each such Syndication Party has sufficient Individual 5-Year Lending Capacity to issue such Negotiated Letter(s) of Credit; and (c) following receipt of the confirmation described in clause (b) above, but no later than 12:00 noon (Central time), sending a written request (“Negotiated LC Request”) to each such Syndication Party requesting issuance of such Negotiated Letter(s) of Credit. Such written request shall set forth (a) the face amount and expiry date, (b) the beneficiary, (c) the terms thereof, and (d) such other information as any such Syndication Party shall request. Negotiated Letters of Credit shall be issued under the 5-Year Facility. In no event may the expiry date be later than 364 days past the 5-Year Maturity Date.

Request for Negotiated Letter of Credit. Borrower may request issuance of a Negotiated Letter of Credit by (a) providing, no later than 11:00 A.M. 12 noon (Central time) on a Banking Day, written notice to the Administrative Agent of (i) the face amount and expiry date of each Negotiated Letter of Credit which Borrower desires be issued and (ii) the identity of the Syndication Party or Parties from which Borrower intends to seek each such Negotiated Letter of Credit; (b) receiving written or oral confirmation from the Administrative Agent, to be provided no later than 11:30 A.M. 12:30 P.M. (Central time), ) that each such Syndication Party has sufficient Individual 364-Day Lending Capacity or sufficient Individual 5-Year Lending Capacity Capacity, as applicable depending upon the Facility under which each such Negotiated Letter of Credit will be issued, to issue such Negotiated Letter(s) of Credit; and (c) following receipt of the confirmation described in clause (b) above, but no later than 12:00 noon 1:00 P.M. (Central time), sending a written request therefore (“Negotiated "NEGOTIATED LC Request”REQUEST") to each such Syndication Party requesting issuance of to issue such Negotiated Letter(s) Letter of Credit. Such written request shall set forth (a) the face amount and expiry date, (b) the beneficiary, (c) the terms thereof, and (d) such other information as any such Syndication Party shall request. Negotiated Letters of Credit shall be issued under the 364-Day Facility if the expiry date therefore is no later than the 364-Day Maturity Date, or under the 5-Year FacilityFacility if the expiry date therefore is later than the 364-Day Maturity Date. In no event may the expiry date be later than 364 days past the 5-Year Maturity Date.

Request for Negotiated Letter of Credit. Borrower may request issuance of a Negotiated Letter of Credit by (a) providing, no later than 11:00 A.M. (Central time) on a Banking Day, written notice to the Administrative Agent of (i) the face amount and expiry date of each Negotiated Letter of Credit which Borrower desires be issued and (ii) the identity of the Syndication Party or Parties from which Borrower intends to seek each such Negotiated Letter of Credit; (b) receiving written or oral confirmation from the Administrative Agent, to be provided no later than 11:30 A.M. (Central time), that each such Syndication Party has sufficient Individual 53-Year Lending Capacity to issue such Negotiated Letter(s) of Credit; and (c) following receipt of the confirmation described in clause (b) above, but no later than 12:00 noon (Central time), sending a written request (“Negotiated "NEGOTIATED LC Request”REQUEST") to each such Syndication Party requesting issuance of such Negotiated Letter(s) of Credit. Such written request shall set forth (a) the face amount and expiry date, (b) the beneficiary, (c) the terms thereof, and (d) such other information as any such Syndication Party shall request. Negotiated Letters of Credit shall be issued under the 53-Year Facility. In no event may the expiry date be later than 364 days past the 53-Year Maturity Date.