THE BORROWER SHALL MAKE ALL PAYMENTS UNDER THIS AGREEMENT OR ANY OTHER
LOAN DOCUMENT IN LAWFUL MONEY OF THE UNITED STATES AND IN SAME DAY OR
IMMEDIATELY AVAILABLE FUNDS NOT LATER THAN 11:00 A.M. ON THE DATE DUE.
(B)
DATE. WHENEVER ANY PAYMENT DUE HEREUNDER
SHALL FALL DUE ON A DAY OTHER THAN A BUSINESS DAY, SUCH PAYMENT SHALL BE MADE ON
THE IMMEDIATELY FOLLOWING BUSINESS DAY, AND SUCH EXTENSION OF TIME SHALL BE
INCLUDED IN THE COMPUTATION OF INTEREST OR FEES, AS THE CASE MAY BE.
(C)
APPLICATION OF PAYMENTS. EXCEPT AS
OTHERWISE EXPRESSLY PROVIDED IN THE SECURITY DOCUMENTS, ALL PAYMENTS HEREUNDER
SHALL BE APPLIED FIRST TO UNPAID COSTS AND EXPENSES THEN DUE AND PAYABLE UNDER
THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS, AND SECOND, IN THE SAME ORDER IN
WHICH VOLUNTARY PREPAYMENTS ARE TO BE APPLIED, AS REQUIRED BY SECTION 2.4.
SECTION 2.6 LETTERS OF CREDIT.
(A)
SUBJECT TO THE TERMS AND CONDITIONS HEREOF,
AT ANY TIME AND FROM TIME TO TIME FROM THE CLOSING DATE TO AND INCLUDING THE
25TH DAY PRIOR TO THE MATURITY DATE, THE ISSUER SHALL ISSUE SUCH LETTERS OF
CREDIT UNDER THE REVOLVING COMMITMENT AS BORROWER MAY REQUEST BY A REQUEST FOR
LETTER OF CREDIT; PROVIDED THAT AFTER GIVING EFFECT TO ALL SUCH LETTERS OF
CREDIT, THE SUM OF (I) THE EFFECTIVE AMOUNT PLUS (II) THE AGGREGATE AMOUNT
AVAILABLE FOR DRAWING UNDER THE OUTSTANDING LETTERS OF CREDIT PLUS (III) THE
AGGREGATE AMOUNT OF ALL UNREIMBURSED DRAWS WITH RESPECT TO ALL LETTERS OF
CREDIT, SHALL NOT EXCEED (I) THE LETTER OF CREDIT SUBLIMIT OR (II) THE THEN
APPLICABLE
25
REVOLVING COMMITMENT.
EACH LETTER OF CREDIT SHALL BE IN A FORM REASONABLY
ACCEPTABLE TO THE ISSUER.
UNLESS OTHERWISE APPROVED BY THE LENDER AND THE
ISSUER, (SUCH APPROVAL NOT TO BE UNREASONABLY WITHHELD IF THE BORROWER COMPLIES
WITH SECTION 2.6(I)), NO LETTER OF CREDIT SHALL HAVE AN INITIAL OR ANY RENEWAL
TERM OF MORE THAN ONE YEAR OR A TERM (INCLUDING RENEWALS THEREOF) EXTENDING
BEYOND THE MATURITY DATE.
THE BORROWER AND THE LENDER AGREE THAT EACH LETTER OF
CREDIT DESCRIBED ON SCHEDULE 2.6 SHALL BE A LETTER OF CREDIT ISSUED UNDER THE
REVOLVING COMMITMENT AS OF THE CLOSING DATE.
(B)
EACH REQUEST FOR LETTER OF CREDIT SHALL BE
SUBMITTED TO THE ISSUER AT LEAST FIVE BUSINESS DAYS PRIOR TO THE DATE UPON WHICH
THE RELATED LETTER OF CREDIT IS PROPOSED TO BE ISSUED. EACH LETTER OF CREDIT
WILL BE ISSUED UNDER AND PURSUANT TO THE TERMS AND CONDITIONS OF SUCH LETTER OF
CREDIT DOCUMENTS AS THE ISSUER MAY REASONABLY REQUIRE. IF ANY OF THE TERMS OF
ANY LETTER OF CREDIT DOCUMENT ARE INCONSISTENT WITH THE TERMS AND PROVISIONS OF
THIS AGREEMENT, THE TERMS AND PROVISIONS OF THIS AGREEMENT SHALL GOVERN. THE
ISSUER SHALL NOT BE OBLIGATED TO ISSUE A LETTER OF CREDIT UNLESS ON THE DATE OF
ISSUANCE ALL OF THE CONDITIONS PRECEDENT SPECIFIED IN SECTION 7.2 SHALL HAVE
BEEN SATISFIED AS FULLY AS IF THE ISSUANCE OF SUCH LETTER OF CREDIT WERE AN
ADVANCE.