FROM TIME TO TIME DURING THE AVAILABILITY PERIOD.
EACH EXISTING LETTER OF CREDIT SHALL BE DEEMED, FOR ALL PURPOSES OF THIS
AGREEMENT (INCLUDING PARAGRAPHS (D) AND (F) OF THIS SECTION) TO BE A LETTER OF
CREDIT ISSUED HEREUNDER FOR THE ACCOUNT OF THE BORROWER.
IN THE EVENT OF ANY
INCONSISTENCY BETWEEN THE TERMS AND CONDITIONS OF THIS AGREEMENT AND THE TERMS
AND CONDITIONS OF ANY LETTER OF CREDIT APPLICATION OR OTHER AGREEMENT SUBMITTED
BY THE BORROWER TO, OR ENTERED INTO BY THE BORROWER WITH AN ISSUING BANK
RELATING TO ANY LETTER OF CREDIT, THE TERMS AND CONDITIONS OF THIS AGREEMENT
SHALL CONTROL.
(B)
NOTICE OF ISSUANCE, AMENDMENT, RENEWAL, EXTENSION; CERTAIN CONDITIONS.
TO
REQUEST THE ISSUANCE OF A LETTER OF CREDIT OR THE AMENDMENT, RENEWAL OR
EXTENSION OF AN OUTSTANDING LETTER OF CREDIT, THE BORROWER SHALL HAND DELIVER OR
FAX (OR TRANSMIT BY ELECTRONIC COMMUNICATION, IF ARRANGEMENTS FOR DOING SO HAVE
BEEN APPROVED BY THE RECIPIENT) TO THE APPLICABLE ISSUING BANK AND THE
ADMINISTRATIVE AGENT, REASONABLY IN ADVANCE OF THE REQUESTED DATE OF ISSUANCE,
AMENDMENT, RENEWAL OR EXTENSION, A NOTICE REQUESTING THE ISSUANCE OF A LETTER OF
CREDIT, OR IDENTIFYING THE LETTER OF CREDIT TO BE AMENDED, RENEWED OR EXTENDED,
AND SPECIFYING THE REQUESTED DATE OF ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION
(WHICH SHALL BE A BUSINESS DAY), THE DATE ON WHICH SUCH LETTER OF CREDIT IS TO
EXPIRE (WHICH SHALL COMPLY WITH PARAGRAPH (C) OF THIS SECTION), THE AMOUNT AND
CURRENCY OF SUCH LETTER OF CREDIT, THE NAME AND ADDRESS OF THE BENEFICIARY
THEREOF AND SUCH OTHER INFORMATION AS SHALL BE NECESSARY TO ENABLE THE
APPLICABLE ISSUING BANK TO PREPARE, AMEND, RENEW OR EXTEND SUCH LETTER OF
CREDIT.
IF REQUESTED BY THE APPLICABLE ISSUING BANK, THE BORROWER ALSO SHALL
SUBMIT A LETTER OF CREDIT APPLICATION ON THE ISSUING BANK'S STANDARD FORM IN
CONNECTION WITH ANY SUCH REQUEST.
IN THE EVENT AND TO THE EXTENT THAT THE
PROVISIONS OF ANY SUCH APPLICATION SHALL CONFLICT WITH, OR SHALL OTHERWISE
INCLUDE REPRESENTATIONS, WARRANTIES, COVENANTS OR DEFAULTS MORE RESTRICTIVE THAN
THOSE SET FORTH IN, THIS AGREEMENT, THE PROVISIONS OF THIS AGREEMENT SHALL
GOVERN AND SUCH PROVISIONS IN SUCH APPLICATION SHALL BE OF NO FORCE OR EFFECT.
A LETTER OF CREDIT SHALL BE ISSUED, AMENDED, RENEWED OR EXTENDED ONLY IF (AND
UPON EACH ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION OF ANY LETTER OF CREDIT THE
BORROWER SHALL BE DEEMED TO REPRESENT AND WARRANT THAT), AFTER GIVING EFFECT TO
SUCH ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION,
36
(I) THE LC EXPOSURE WILL NOT EXCEED US$50,000,000 AND (II) THE AGGREGATE
REVOLVING EXPOSURE WILL NOT EXCEED THE AGGREGATE COMMITMENTS.
EACH ISSUING BANK
AGREES THAT IT SHALL NOT PERMIT ANY ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION OF
A LETTER OF CREDIT TO OCCUR UNLESS IT SHALL HAVE GIVEN TO THE ADMINISTRATIVE
AGENT WRITTEN NOTICE THEREOF REQUIRED UNDER PARAGRAPH (J) OF THIS SECTION.
(C)
EXPIRATION DATE.
EACH LETTER OF CREDIT SHALL EXPIRE AT OR PRIOR TO THE
CLOSE OF BUSINESS ON THE EARLIER OF (I) THE DATE ONE YEAR AFTER THE DATE OF