IT IDENTIFIES THE BORROWER OF THE LETTER
OF CREDIT;
(C)
THE PROPOSED UTILISATION DATE IS A
BUSINESS DAY WITHIN THE AVAILABILITY PERIOD APPLICABLE TO THE REVOLVING
FACILITY;
(D)
THE CURRENCY AND AMOUNT OF THE LETTER OF
CREDIT COMPLY WITH CLAUSE 6.4 (CURRENCY AND AMOUNT);
(E)
THE FORM OF LETTER OF CREDIT IS
ATTACHED;
(F)
THE EXPIRY DATE OF THE LETTER OF
CREDIT FALLS ON OR BEFORE THE FINAL MATURITY DATE IN RELATION TO THE REVOLVING
FACILITY;
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(G)
THE TERM OF THE LETTER OF CREDIT IS 12
MONTHS OR LESS;
(H)
THE DELIVERY INSTRUCTIONS FOR THE LETTER
OF CREDIT ARE SPECIFIED; AND
(I)
THE IDENTITY OF THE BENEFICIARY OF
THE LETTER OF CREDIT IS APPROVED BY THE LENDERS.
6.4
CURRENCY AND AMOUNT
(A)
THE CURRENCY SPECIFIED IN A UTILISATION
REQUEST MUST BE THE BASE CURRENCY OR AN OPTIONAL CURRENCY.
(B)
SUBJECT TO CLAUSE 5.5 (LIMITATIONS ON
UTILISATIONS), THE AMOUNT OF THE PROPOSED LETTER OF CREDIT MUST BE AN AMOUNT
WHOSE BASE CURRENCY AMOUNT IS NOT MORE THAN THE AVAILABLE FACILITY AND WHICH IS:
(I)
IF THE CURRENCY SELECTED IS THE BASE CURRENCY, A
MINIMUM OF £1,000,000 OF, IF LESS, THE AVAILABLE FACILITY; OR
(II)
IF THE CURRENCY SELECTED IS EURO, A MINIMUM OF EURO
1,500,000 OR, IF LESS, THE AVAILABLE FACILITY; OR
(III)
IF THE CURRENCY SELECTED IS AN OPTIONAL CURRENCY, THE
MINIMUM AMOUNT SPECIFIED BY THE FACILITY AGENT PURSUANT TO PARAGRAPH (B)(II) OF
CLAUSE 4.3 (CONDITIONS RELATING TO OPTIONAL CURRENCIES) OR, IF LESS, THE
AVAILABLE FACILITY.
6.5
ISSUE OF LETTERS OF CREDIT
(A)
IF THE CONDITIONS SET OUT IN THIS
AGREEMENT HAVE BEEN MET, THE ISSUING BANK SHALL ISSUE THE LETTER OF CREDIT ON
THE UTILISATION DATE.
(B)
THE ISSUING BANK WILL ONLY BE OBLIGED TO
COMPLY WITH PARAGRAPH (A) ABOVE IF ON THE DATE OF THE UTILISATION REQUEST OR
RENEWAL REQUEST AND ON THE PROPOSED UTILISATION DATE:
(I)
IN THE CASE OF A LETTER OF CREDIT TO BE RENEWED IN
ACCORDANCE WITH CLAUSE 6.6 (RENEWAL OF A LETTER OF CREDIT) NO EVENT OF DEFAULT
IS CONTINUING OR WOULD RESULT FROM THE PROPOSED UTILISATION AND, IN THE CASE OF
ANY OTHER UTILISATION, NO DEFAULT IS CONTINUING OR WOULD RESULT FROM THE
PROPOSED UTILISATION; AND
(II)
THE REPEATING REPRESENTATIONS TO BE MADE BY EACH
OBLIGOR ARE TRUE IN ALL MATERIAL RESPECTS.
(C)
THE AMOUNT OF EACH LENDER'S
PARTICIPATION IN EACH LETTER OF CREDIT WILL BE EQUAL TO ITS L/C PROPORTION
IMMEDIATELY PRIOR TO THE ISSUE OF THE LETTER OF CREDIT.
(D)
THE FACILITY AGENT SHALL DETERMINE THE
BASE CURRENCY AMOUNT OF EACH LETTER OF CREDIT WHICH IS TO BE ISSUED IN AN
OPTIONAL CURRENCY AND SHALL NOTIFY THE
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ISSUING BANK AND EACH LENDER OF THE DETAILS OF THE REQUESTED LETTER OF CREDIT
AND ITS PARTICIPATION IN THAT LETTER OF CREDIT BY THE SPECIFIED TIME.
6.6
RENEWAL OF A LETTER OF CREDIT
(A)
A BORROWER (OR THE PARENT ON ITS
BEHALF) MAY REQUEST THAT ANY LETTER OF CREDIT ISSUED ON BEHALF OF THAT BORROWER
BE RENEWED BY DELIVERY