Common use of Termination of an Issuing Bank Clause in Contracts

Termination of an Issuing Bank. The Lead Borrower may terminate the appointment of any Issuing Bank as an “Issuing Bank” hereunder by providing a written notice thereof to such Issuing Bank (or telephonic notice promptly confirmed thereafter by delivery of a written notice), with a copy to the Administrative Agent. Any such termination shall become effective upon the earlier of (i) such Issuing Bank’s acknowledging receipt of such notice and (ii) the third Business Day following the date of the delivery thereof. At the time any such termination shall become effective, the applicable Borrowers shall pay all unpaid fees accrued for the account of the terminated Issuing Bank pursuant to Section 2.12(b). Notwithstanding the effectiveness of any such termination, the terminated Issuing Bank shall remain a party hereto and shall continue to have all the rights of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such termination, but shall not issue any additional Letters of Credit.

Termination of an Issuing Bank. The Lead Borrower may terminate the appointment of any Issuing Bank as an “Issuing Bank” hereunder by providing a written notice thereof to such Issuing Bank (or telephonic notice promptly confirmed thereafter by delivery of a written notice)Bank, with a copy to the Administrative Paying Agent. Any such termination shall become effective upon the earlier date set forth in such notice; provided that no such termination shall become effective until and unless the LC Exposure attributable to Letters of (i) Credit issued by such Issuing Bank’s acknowledging receipt of such notice and Bank (iior its Affiliates) the third Business Day following the date of the delivery thereofshall have been reduced to zero. At the time any such termination shall become effective, the applicable Borrowers Borrower shall pay all unpaid fees accrued for the account of the terminated Issuing Bank pursuant to Section 2.12(b2.11(b). Notwithstanding the effectiveness of any such termination, the terminated Issuing Bank shall remain a party hereto and shall continue to have all the rights of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such termination, but shall not issue any additional Letters of Credit.

Termination of an Issuing Bank. The Lead Borrower may terminate the appointment of any Issuing Bank as an “Issuing Bank” hereunder by providing a written notice thereof to such Issuing Bank (or telephonic notice promptly confirmed thereafter by delivery of a written notice)Bank, with a copy to the Administrative Agent. Any such termination shall become effective upon the earlier date set forth in such notice; provided that no such termination shall become effective until and unless the LC Exposure attributable to Letters of (i) Credit issued by such Issuing Bank’s acknowledging receipt of such notice and Bank (iior its Affiliates) the third Business Day following the date of the delivery thereofshall have been reduced to zero. At the time any such termination shall become effective, the applicable Borrowers Borrower shall pay all unpaid fees accrued for the account of the terminated Issuing Bank pursuant to Section 2.12(b2.11(b). Notwithstanding the effectiveness of any such termination, the terminated Issuing Bank shall remain a party hereto and shall continue to have all the rights of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such termination, but shall not issue any additional Letters of Credit.

Termination of an Issuing Bank. The Lead Borrower may terminate the appointment of any Issuing Bank as an “Issuing Bank” hereunder by providing a written notice thereof to such Issuing Bank (or telephonic notice promptly confirmed thereafter by delivery of a written notice)Bank, with a copy to the Administrative Agent. Any such termination shall become effective upon the earlier of (i) such Issuing Bank’s acknowledging receipt of such notice and (ii) the third fifth Business Day following the date of the delivery thereof. At the time any such termination shall become effective, the applicable Borrowers Borrower shall pay all unpaid fees accrued for the account of the terminated Issuing Bank pursuant to Section 2.12(b). Notwithstanding the effectiveness of any such termination, the terminated Issuing Bank shall remain a party hereto and shall continue to have all the rights of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such termination, but shall not issue any additional Letters of CreditCredit or be deemed an Issuing Bank for any other purpose.