Common use of TERMINATION OF LETTER OF CREDIT COMMITMENT Clause in Contracts

TERMINATION OF LETTER OF CREDIT COMMITMENT. In the event that: (i) any restriction is imposed on the Letter of Credit Bank (including, without limitation, any legal lending or acceptance limits imposed by the United States of America or any political subdivision thereof or of any foreign government or central bank) which in the judgment of the Letter of Credit Bank would prevent the Letter of Credit Bank from issuing Letters of Credit or maintaining its commitment to issue Letters of Credit or (ii) there shall have occurred, at any time during the term of this Agreement: (A) any outbreak of hostilities or other national or international crisis or change in economic conditions if the effect of such outbreak, crisis or change would make the creation of Letters of Credit impracticable, (B) the enactment, publication, decree or other promulgation of any statute, regulation, rule or order of any court or other governmental authority which would materially and adversely affect the ability of the Borrower to perform its obligations under this Agreement, or (C) the taking of any action by any government or agency in respect of its monetary or fiscal affairs which would have a material adverse effect on the issuance of Letters of Credit, then the Letter of Credit Bank, in the case of the occurrence of any event described hereinabove, shall give written notice of the occurrence of such event to the Borrower and the Agent whereupon the commitment of the Letter of Credit Bank to issue Letters of Credit shall be suspended on the effective date of such notice and shall continue suspended until the effect of such event shall cease to exist.

TERMINATION OF LETTER OF CREDIT COMMITMENT. In the event that: (i) any restriction is imposed on the Letter of Credit Issuing Bank (including, without limitation, any legal lending or acceptance limits imposed by the United States of America or any political subdivision thereof or of any foreign government or central bank) which in the judgment of the Letter of Credit Issuing Bank would prevent the Letter of Credit Issuing Bank from issuing Letters of Credit or maintaining its commitment to issue Letters of Credit or (ii) there shall have occurred, at any time during the term of this Agreement: (A) any outbreak of hostilities or other national or international crisis or change in economic conditions if the effect of such outbreak, crisis or change would make the creation of Letters of Credit impracticable, (B) the enactment, publication, decree or other promulgation of any statute, regulation, rule or order of any court or other governmental authority which would materially and adversely affect the ability of the Borrower International to perform its obligations under this Agreement, or (C) the taking of any action by any government or agency in respect of its monetary or fiscal affairs which would have a material adverse effect on the issuance of Letters of Credit, then the Letter of Credit Issuing Bank, in the case of the occurrence of any event described hereinaboveabove, shall give written notice of the occurrence of such event to the Borrower Borrowers and the Administrative Agent whereupon the commitment of the Letter of Credit Issuing Bank to issue Letters of Credit shall be suspended on the effective date of such notice and shall continue suspended until the such effect of such the event shall cease to exist.

TERMINATION OF LETTER OF CREDIT COMMITMENT. In the event that: (i) any restriction is imposed on the Letter of Credit Bank (including, without limitation, any legal lending or acceptance limits imposed by the United States of America or any political subdivision thereof or of any foreign government or central bank) which in the judgment of the Letter of Credit Bank would prevent the Letter of Credit Bank from issuing Letters of Credit or maintaining its commitment to issue Letters of Credit or (ii) there shall have occurred, at any time during the term of this Agreement: (A) any outbreak of hostilities or other national or international crisis or change in economic conditions if the effect of such outbreak, crisis or change would make the creation of Letters of Credit impracticable, (B) the enactment, publication, decree or other promulgation of any statute, regulation, rule or order of any court or other governmental authority which would materially and adversely affect the ability of the Borrower to perform its obligations under this Agreement, or (C) the taking of any action by any government or agency in respect of its monetary or fiscal affairs which would have a material adverse effect on the issuance of Letters of Credit, then THEN the Letter of Credit Bank, in the case of the occurrence of any event described hereinabove, shall give written notice of the occurrence of such event to the Borrower and the Agent whereupon the commitment of the Letter of Credit Bank to issue Letters of Credit shall be suspended on the effective date of such notice and shall continue suspended until the effect of such event shall cease to exist.