IDENTIFYING THE LETTER OF CREDIT TO BE AMENDED, RENEWED OR EXTENDED, AND
SPECIFYING THE DATE OF ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION (WHICH SHALL BE
A BUSINESS DAY), THE DATE ON WHICH SUCH LETTER OF CREDIT IS TO EXPIRE (WHICH
SHALL COMPLY WITH PARAGRAPH (C) OF THIS SECTION), THE AMOUNT OF SUCH LETTER OF
CREDIT, THE NAME AND ADDRESS OF THE BENEFICIARY THEREOF AND SUCH OTHER
INFORMATION AS SHALL BE NECESSARY TO PREPARE, AMEND, RENEW OR EXTEND SUCH LETTER
OF CREDIT.
IF REQUESTED BY LENDER, BORROWER ALSO SHALL SUBMIT A LETTER OF
CREDIT APPLICATION ON LENDER'S STANDARD FORM IN CONNECTION WITH ANY REQUEST FOR
A LETTER OF CREDIT.
A LETTER OF CREDIT SHALL BE ISSUED, AMENDED, RENEWED OR
EXTENDED ONLY IF (AND UPON ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION OF EACH
LETTER OF CREDIT BORROWER SHALL BE DEEMED TO REPRESENT AND WARRANT THAT), AFTER
GIVING EFFECT TO SUCH ISSUANCE, AMENDMENT, RENEWAL OR EXTENSION (I) THE LC
EXPOSURE SHALL NOT EXCEED THE LETTER OF CREDIT SUBLIMIT AND (II) THE TOTAL
REVOLVING EXPOSURE SHALL NOT EXCEED THE LESSER OF THE TOTAL REVOLVING COMMITMENT
AND THE BORROWING BASE.
(C)
EXPIRATION DATE.
EACH LETTER OF CREDIT
SHALL EXPIRE AT OR PRIOR TO THE CLOSE OF BUSINESS ON THE EARLIER OF (I) THE DATE
ONE YEAR AFTER THE DATE OF THE ISSUANCE OF SUCH LETTER OF CREDIT (OR, IN THE
CASE OF ANY RENEWAL OR EXTENSION THEREOF, ONE YEAR AFTER SUCH RENEWAL OR
EXTENSION) AND (II) THE DATE THAT IS FIVE BUSINESS DAYS PRIOR TO THE MATURITY
DATE; PROVIDED, HOWEVER, THAT NOTWITHSTANDING ANY TERM HEREIN TO THE CONTRARY,
PRIOR TO THE MATURITY DATE A LETTER OF CREDIT MAY BE ISSUED OR EXTENDED WITH AN
EXPIRY DATE EXTENDING BEYOND THE MATURITY DATE IF, AND TO THE EXTENT THAT, THE
BORROWER PROVIDES CASH COLLATERAL TO THE LENDER NOT LATER THAN TEN (10) DAYS
PRIOR TO THE MATURITY DATE IN AN AMOUNT EQUAL TO 105% OF THE MAXIMUM AMOUNT
AVAILABLE TO BE DRAWN UNDER SUCH LETTER OF CREDIT.
(D)
REIMBURSEMENT.
IF LENDER SHALL MAKE ANY LC
DISBURSEMENT IN RESPECT OF A LETTER OF CREDIT, BORROWER SHALL REIMBURSE SUCH LC
DISBURSEMENT BY PAYING TO LENDER AN AMOUNT EQUAL TO SUCH LC DISBURSEMENT NOT
LATER THAN 11:00 A.M., MILWAUKEE TIME, ON THE DATE THAT SUCH LC DISBURSEMENT IS
MADE, IF BORROWER SHALL HAVE RECEIVED NOTICE OF SUCH LC DISBURSEMENT PRIOR TO
9:00 A.M., MILWAUKEE TIME, ON SUCH DATE, OR, IF SUCH NOTICE HAS NOT BEEN
RECEIVED BY BORROWER PRIOR TO SUCH TIME ON SUCH DATE, THEN NOT LATER THAN
11:00 A.M., MILWAUKEE TIME, ON (I) THE BUSINESS DAY THAT BORROWER RECEIVES SUCH
NOTICE, IF SUCH NOTICE IS RECEIVED PRIOR TO 9:00 A.M., MILWAUKEE TIME, ON THE
DAY OF RECEIPT, OR (II) THE BUSINESS DAY IMMEDIATELY FOLLOWING THE DAY THAT
BORROWER RECEIVES SUCH NOTICE, IF SUCH NOTICE IS NOT RECEIVED PRIOR TO SUCH TIME
ON THE DAY OF RECEIPT; PROVIDED THAT BORROWER MAY, SUBJECT TO THE CONDITIONS TO
BORROWING SET FORTH HEREIN, REQUEST IN ACCORDANCE WITH SECTION 2.03 THAT SUCH
PAYMENT BE FINANCED