FUNDS, IN THE SAME MANNER AS PROVIDED IN SECTION 2.02(C)
WITH RESPECT TO LOANS MADE BY SUCH LENDER (AND SECTION 2.02(C) SHALL APPLY,
MUTATIS MUTANDIS, TO THE PAYMENT OBLIGATIONS OF THE LENDERS) AND THE
ADMINISTRATIVE AGENT SHALL PROMPTLY PAY TO THE SWINGLINE LENDER THE AMOUNTS SO
RECEIVED BY IT FROM THE REVOLVING CREDIT LENDERS.
THE ADMINISTRATIVE AGENT
SHALL NOTIFY THE BORROWER OF ANY PARTICIPATIONS IN ANY SWINGLINE LOAN ACQUIRED
PURSUANT TO THIS PARAGRAPH AND THEREAFTER PAYMENTS IN RESPECT OF SUCH SWINGLINE
LOAN SHALL BE MADE TO THE ADMINISTRATIVE AGENT AND NOT TO THE SWINGLINE LENDER.
ANY AMOUNTS RECEIVED BY THE SWINGLINE LENDER FROM THE BORROWER (OR OTHER PARTY
ON BEHALF OF THE BORROWER) IN RESPECT OF A SWINGLINE LOAN AFTER RECEIPT BY THE
SWINGLINE LENDER OF THE PROCEEDS OF A SALE OF PARTICIPATIONS THEREIN SHALL BE
PROMPTLY REMITTED TO THE ADMINISTRATIVE AGENT AND BE DISTRIBUTED BY THE
ADMINISTRATIVE AGENT TO THE LENDERS THAT SHALL HAVE MADE THEIR PAYMENTS PURSUANT
TO THIS PARAGRAPH AND TO THE SWINGLINE LENDER, AS THEIR INTERESTS MAY APPEAR.
THE PURCHASE OF PARTICIPATIONS IN A SWINGLINE LOAN PURSUANT TO THIS PARAGRAPH
SHALL NOT RELIEVE THE BORROWER (OR OTHER PARTY LIABLE FOR OBLIGATIONS OF THE
BORROWER) OF ANY DEFAULT IN THE PAYMENT THEREOF.
Section 2.23.
Letters of Credit.
(a)
The Borrower may request the issuance of
a Letter of Credit on a sight basis for its own account or for the account of
any of its subsidiaries, in a form reasonably acceptable to the Administrative
Agent and the relevant Issuing Bank, at any time and from time to time on or
after the Closing Date and prior to the earlier to occur of (i) the termination
of the Revolving Credit Commitments and (ii) the date that is five Business Days
prior to the Revolving Credit Maturity Date.
This Section shall not be
construed to impose an obligation upon any Issuing Bank to issue any Letter of
Credit that is inconsistent with the terms and conditions of this Agreement.
Letters of Credit shall be denominated in dollars.
(B)
IN ORDER TO REQUEST THE ISSUANCE OF A LETTER OF CREDIT (OR TO
AMEND, RENEW OR EXTEND AN EXISTING LETTER OF CREDIT), THE BORROWER SHALL DELIVER
A NOTICE (A "LETTER OF CREDIT REQUEST") TO THE RELEVANT ISSUING BANK AND THE
ADMINISTRATIVE AGENT (REASONABLY, AND IN ANY EVENT, UNLESS WAIVED BY THE
RELEVANT ISSUING BANK, NO LATER THAN TWO BUSINESS DAYS IN ADVANCE OF THE
REQUESTED DATE OF ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION) REQUESTING THE
ISSUANCE OF A LETTER OF CREDIT, OR IDENTIFYING THE LETTER OF CREDIT TO BE
AMENDED, RENEWED OR EXTENDED AND SPECIFYING (I) THE DATE OF ISSUANCE, AMENDMENT,
RENEWAL OR EXTENSION, (II) THE DATE ON WHICH SUCH LETTER OF CREDIT IS TO EXPIRE
(WHICH SHALL COMPLY WITH PARAGRAPH (C) BELOW), (III) THE AMOUNT OF SUCH LETTER
OF CREDIT, (IV) THE NAME AND ADDRESS OF THE BENEFICIARY THEREOF AND (V) SUCH
OTHER INFORMATION AS THE RELEVANT ISSUING BANK MAY REASONABLY REQUEST WITH
RESPECT TO SUCH LETTER OF CREDIT.
A LETTER