OF TERMINATION TO THE BENEFICIARY OF SUCH LETTER OF CREDIT (AND THE
LENDERS HEREBY AUTHORIZE THE AGENT TO SERVE SUCH NOTICE) SO THAT SUCH LETTER OF
CREDIT EXPIRES ON THE FOURTH ANNIVERSARY DATE OF THE COMMENCEMENT DATE (AS
DEFINED IN SUCH LETTER OF CREDIT) OR ON ANY DATE SUBSEQUENT THERETO AS SPECIFIED
IN SUCH NOTICE OF TERMINATION (WHEREUPON THE MAXIMUM ACTUAL AND CONTINGENT
LIABILITY OF EACH LENDER THEREUNDER SHALL BE REDUCED TO ZERO).
2.1.6
THE OBLIGOR MAY REQUEST A LETTER OF CREDIT BE AMENDED, RENEWED OR
EXTENDED BY DELIVERING A UTILIZATION REQUEST TO THE AGENT.
THE ISSUE OF ANY
AMENDED, RENEWED OR EXTENDED LETTER OF CREDIT SHALL BE SUBJECT TO THE SAME
CONDITIONS AS A NEW UTILIZATION REQUEST.
IF THE CONDITIONS FOR THE ISSUANCE
THEREOF HAVE BEEN MET, THE AGENT SHALL ISSUE SUCH AMENDED, RENEWED OR EXTENDED
LETTER OF CREDIT IN ACCORDANCE WITH THE PROVISIONS OF THIS AGREEMENT AS IF IT
WERE A LETTER OF CREDIT AND EACH LENDER'S PARTICIPATION THEREIN SHALL BE
DETERMINED ACCORDINGLY.
2.2
REIMBURSEMENT; AGENT'S RESPONSIBILITY
2.2.1
THE AGENT SHALL PROMPTLY NOTIFY EACH LENDER AND THE OBLIGOR OF A
DEMAND FOR DRAWING UNDER ANY LETTER OF CREDIT ISSUED AT THE REQUEST OF THE
OBLIGOR ON OR PRIOR TO THE DATE OF PAYMENT OF SUCH DRAWING BY CONTACTING SUCH
PERSON TELEPHONICALLY, PROMPTLY FOLLOWED BY WRITTEN NOTICE.
REIMBURSEMENT BY
THE OBLIGOR OF THE AMOUNT OF EACH SUCH DRAWING IS DUE AND PAYABLE IN FULL IN THE
CURRENCY IN WHICH SUCH DRAWING IS TO BE MADE (I) ON THE SAME DAY THAT EACH SUCH
LENDER HONORS SUCH DRAWING, IF THE FOREGOING NOTICE IS RECEIVED BEFORE 1:00 P.M.
(LONDON TIME) ON THE DATE OF SUCH DRAWING OR (II) ON THE BUSINESS DAY
IMMEDIATELY FOLLOWING THE DATE OF SUCH DRAWING, IF THE FOREGOING NOTICE IS
RECEIVED AFTER 1:00 P.M. (LONDON TIME) ON THE DATE OF SUCH DRAWING, AND THE
OBLIGOR ABSOLUTELY AND UNCONDITIONALLY AGREES TO PAY OR CAUSE TO BE PAID TO THE
AGENT FOR THE ACCOUNT EACH LENDER, ON SUCH DATE, WITHOUT DEMAND, THE AMOUNT OF
ANY DRAWING UNDER A LETTER OF CREDIT ISSUED AT THE REQUEST OF THE OBLIGOR.
2.2.2
THE OBLIGOR ABSOLUTELY AND UNCONDITIONALLY AGREES TO PAY, OR CAUSE TO
BE PAID, TO THE AGENT FOR THE ACCOUNT OF EACH LENDER, ON DEMAND, INTEREST AT THE
INTEREST RATE ON ANY AMOUNT (INCLUDING ON OVERDUE INTEREST TO THE EXTENT
PERMITTED BY LAW) DUE BY THE OBLIGOR HEREUNDER THAT IS NOT PAID WHEN DUE, FOR
EACH DAY SUCH AMOUNT IS UNPAID.
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2.3
OBLIGATIONS OF LENDERS
WHENEVER A LENDER RECEIVES A DEMAND FOR PAYMENT UNDER A LETTER OF CREDIT, IT
WILL PROMPTLY EXAMINE THE DEMAND TO DETERMINE WHETHER OR NOT IT IS IN CONFORMITY
WITH SUCH LETTER OF CREDIT UNDER WHICH IT IS PRESENTED.
EACH LENDER SHALL BE
ENTITLED TO MAKE ANY PAYMENT IN ACCORDANCE WITH THE TERMS OF THE RELEVANT LETTER
OF CREDIT WITHOUT REFERENCE TO OR FURTHER AUTHORITY FROM THE OBLIGOR OR ANY
OTHER INVESTIGATION OR ENQUIRY IF THE DEMAND FOR PAYMENT APPEARS ON ITS FACE TO
BE