SUCH
ISSUANCE, WOULD CAUSE (I) THE LETTER OF CREDIT EXPOSURE TO EXCEED THE LETTER OF
CREDIT SUB-LIMIT OR (II) TOTAL OUTSTANDINGS TO EXCEED THE AGGREGATE COMMITMENT
AMOUNT.
SECTION 2.13
PROCEDURES FOR LETTERS OF CREDIT; LETTER OF CREDIT COLLATERAL
ACCOUNT.
EACH REQUEST FOR A LETTER OF CREDIT SHALL BE MADE BY THE BORROWER IN
WRITING, BY FACSIMILE TRANSMISSION OR ELECTRONIC CONVEYANCE RECEIVED BY THE
AGENT TOGETHER WITH A REQUEST PURSUANT TO SECTION 2.2 FOR LOANS IN AN AGGREGATE
PRINCIPAL AMOUNT EQUAL TO THE LETTER OF CREDIT COLLATERALIZATION AMOUNT FOR THE
REQUESTED LETTER OF CREDIT, FOR THE PURPOSE OF FUNDING THE LETTER OF CREDIT
COLLATERAL ACCOUNT AS PROVIDED BELOW, AND SPECIFYING THE REQUESTED ISSUANCE DATE
FOR SUCH LETTER OF CREDIT, NO LATER THAN 2:00 P.M. ON A BUSINESS DAY THAT IS NOT
LATER THAN ONE BUSINESS DAY PRIOR TO THE LAST DAY SPECIFIED IN SECTION 2.2 FOR
MAKING SUCH REQUEST FOR LOANS. WITHOUT LIMITING THE PROVISIONS OF SECTION 2.2 IN
RESPECT OF SUCH REQUEST FOR LOANS, EACH REQUEST FOR A LETTER OF CREDIT SHALL BE
DEEMED A REPRESENTATION BY THE BORROWER THAT ON THE DATE OF ISSUANCE OF SUCH
LETTER OF CREDIT AND AFTER GIVING EFFECT THERETO THE APPLICABLE CONDITIONS
SPECIFIED IN ARTICLE III HAVE BEEN AND WILL BE SATISFIED. THE LETTER OF CREDIT
ISSUER MAY REQUIRE THAT THE RELATED REQUEST FOR THE ISSUANCE OF A LETTER OF
CREDIT BE MADE ON SUCH LETTER OF CREDIT APPLICATION AND REIMBURSEMENT AGREEMENT
FORM AS THE LETTER OF CREDIT ISSUER MAY FROM TIME TO TIME SPECIFY, ALONG WITH
SATISFACTORY EVIDENCE OF THE AUTHORITY AND INCUMBENCY OF THE OFFICIALS OF THE
BORROWER MAKING SUCH REQUEST. THE AGENT SHALL PROMPTLY NOTIFY THE LETTER OF
CREDIT ISSUER AND THE OTHER LENDERS OF THE RECEIPT OF SUCH REQUEST AND THE
MATTERS SPECIFIED THEREIN, INCLUDING THE RELATED REQUEST FOR LOANS AND SUCH
OTHER MATTERS AS THE AGENT IS TO NOTIFY THE LENDERS UNDER SECTION 2.2. ON THE
REQUESTED LOAN DATE, THE AGENT SHALL DEPOSIT THE PROCEEDS OF THE LOANS SO
REQUESTED BY THE BORROWER INTO THE LETTER OF CREDIT COLLATERAL ACCOUNT, AND THE
BORROWER HEREBY REQUESTS, DIRECTS AND AUTHORIZES THE AGENT TO SO DEPOSIT THE
PROCEEDS OF SUCH LOANS AND AGREES THAT EACH DISBURSEMENT OF THE PROCEEDS OF SUCH
LOANS SHALL CONSTITUTE DELIVERY OF THOSE FUNDS AT THE BORROWER'S DIRECTION AND
FOR THE BORROWER'S BENEFIT AS IF SUCH FUNDS HAD BEEN ADVANCED TO THE BORROWER.
THE LETTER OF CREDIT ISSUER SHALL NOT BE OBLIGATED TO ISSUE ANY LETTER OF CREDIT
HEREUNDER UNLESS THE AMOUNT SO DEPOSITED IS EQUAL TO THE LETTER OF CREDIT
COLLATERALIZATION AMOUNT FOR THE REQUESTED LETTER OF CREDIT (SUCH CONDITION
BEING REFERRED TO HEREIN AS THE "LETTER OF CREDIT COLLATERALIZATION
REQUIREMENT") AND EACH OTHER CONDITION THERETO SET FORTH IN ARTICLE III HAS BEEN
SATISFIED. ON THE DATE OF EACH ISSUANCE OF A LETTER OF CREDIT THE AGENT SHALL
SEND NOTICE TO THE OTHER LENDERS OF SUCH ISSUANCE.
SECTION 2.14
TERMS OF LETTERS OF CREDIT. LETTERS OF CREDIT SHALL NOT HAVE A
TERM LONGER THAN ONE YEAR, EXCEPT