THE EXTENT THAT, AFTER
54
GIVING EFFECT TO SUCH RETURN, SUCH BORROWER WOULD REMAIN IN COMPLIANCE WITH
SECTION 2.12(B) AND NO DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING.
(K)
DESIGNATION OF ADDITIONAL ISSUING BANKS. FROM TIME TO TIME, THE BORROWERS
MAY BY NOTICE TO THE ADMINISTRATIVE AGENT AND THE LENDERS DESIGNATE AS
ADDITIONAL ISSUING BANKS ONE OR MORE LENDERS THAT AGREE TO SERVE IN SUCH
CAPACITY AS PROVIDED BELOW. THE ACCEPTANCE BY A LENDER OF ANY APPOINTMENT AS AN
ISSUING BANK HEREUNDER SHALL BE EVIDENCED BY AN AGREEMENT (AN "ISSUING BANK
AGREEMENT"), WHICH SHALL BE IN A FORM SATISFACTORY TO THE BORROWERS AND THE
ADMINISTRATIVE AGENT, SHALL SET FORTH THE LC COMMITMENT OF SUCH LENDER AND SHALL
BE EXECUTED BY SUCH LENDER, THE BORROWERS AND THE ADMINISTRATIVE AGENT AND, FROM
AND AFTER THE EFFECTIVE DATE OF SUCH AGREEMENT, (I) SUCH LENDER SHALL HAVE ALL
THE RIGHTS AND OBLIGATIONS OF AN ISSUING BANK UNDER THIS AGREEMENT AND THE OTHER
LOAN DOCUMENTS AND (II) REFERENCES HEREIN AND IN THE OTHER LOAN DOCUMENTS TO THE
TERM "ISSUING BANK" SHALL BE DEEMED TO INCLUDE SUCH LENDER IN ITS CAPACITY AS AN
ISSUING BANK. THE ISSUING BANK AGREEMENT OF ANY ISSUING BANK MAY LIMIT THE
CURRENCIES IN WHICH AND THE BORROWERS FOR THE ACCOUNTS OF WHICH SUCH ISSUING
BANK WILL ISSUE LETTERS OF CREDIT, AND ANY SUCH LIMITATIONS WILL, AS TO SUCH
ISSUING BANK, BE DEEMED TO BE INCORPORATED IN THIS AGREEMENT.
(L)
ISSUING BANK REPORTS. UNLESS OTHERWISE AGREED BY THE ADMINISTRATIVE AGENT,
EACH ISSUING BANK SHALL REPORT IN WRITING TO THE ADMINISTRATIVE AGENT (WHICH
SHALL PROMPTLY PROVIDE NOTICE TO THE LENDERS OF THE CONTENTS THEREOF) (I) ON THE
FIRST BUSINESS DAY OF EACH WEEK, THE DAILY ACTIVITY (SET FORTH BY DAY) IN
RESPECT OF LETTERS OF CREDIT DURING THE IMMEDIATELY PRECEDING WEEK, INCLUDING
ALL ISSUANCES, EXTENSIONS, AMENDMENTS AND RENEWALS, ALL EXPIRATIONS AND
CANCELATIONS AND ALL DISBURSEMENTS AND REIMBURSEMENTS, (II) ON OR PRIOR TO EACH
BUSINESS DAY ON WHICH SUCH ISSUING BANK ISSUES, AMENDS, RENEWS OR EXTENDS ANY
LETTER OF CREDIT, THE DATE OF SUCH ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION,
AND THE CURRENCIES AND FACE AMOUNTS OF THE LETTERS OF CREDIT ISSUED, AMENDED,
RENEWED OR EXTENDED BY IT AND OUTSTANDING AFTER GIVING EFFECT TO SUCH ISSUANCE,
AMENDMENT, RENEWAL OR EXTENSION (AND WHETHER THE AMOUNTS THEREOF SHALL HAVE
CHANGED), IT BEING UNDERSTOOD THAT SUCH ISSUING BANK SHALL NOT EFFECT ANY
ISSUANCE, RENEWAL, EXTENSION OR AMENDMENT RESULTING IN AN INCREASE IN THE
AGGREGATE AMOUNT OF THE LETTERS OF CREDIT ISSUED BY IT WITHOUT FIRST OBTAINING
WRITTEN CONFIRMATION FROM THE ADMINISTRATIVE AGENT THAT SUCH INCREASE IS THEN
PERMITTED UNDER THIS AGREEMENT, (III) ON EACH BUSINESS DAY ON WHICH SUCH ISSUING
BANK MAKES ANY LC DISBURSEMENT, THE DATE, CURRENCY AND AMOUNT OF SUCH LC
DISBURSEMENT, (IV) ON ANY BUSINESS DAY ON WHICH THE APPLICABLE BORROWER FAILS TO
REIMBURSE AN LC DISBURSEMENT REQUIRED TO BE REIMBURSED TO SUCH ISSUING BANK ON
SUCH DAY, THE DATE OF SUCH FAILURE AND THE CURRENCY AND AMOUNT OF SUCH LC
DISBURSEMENT, AND (V)