Common use of Agent Consent Clause in Contracts

Agent Consent. If any Issuing Bank shall issue, extend or amend any Letter of Credit without obtaining prior consent of the Agent (as provided in clause (a) above), such Letter of Credit (A) shall for all purposes be deemed to have been issued by such Issuing Bank solely for its own account and risk and (B) shall not be considered a Letter of Credit outstanding under this Agreement (and therefore shall not be included when calculating the Credit Exposure), and no Bank shall be deemed to have any participation therein, effective as of the date of such issuance, amendment or extension, as the case may be, unless the Required Banks or the Approving Banks, as the case may be, expressly consent thereto; provided, however, that to be considered a Letter of Credit outstanding under this Agreement, the consent of all Banks or the Approving Banks, as the case may be, shall be required if any such issuance, amendment or extension is not then permitted hereunder by reason of the provisions of this Section 2.03, provided further that in the event that such a Letter of Credit shall be issued, it shall not result in a violation of Section 8.07 hereof or an Event of Default solely as a result of such issuance.

Agent Consent. If any Issuing Bank shall issue, extend or amend any Letter of Credit without obtaining prior consent of the Agent (as provided in clause (a) above), such Letter of Credit (A) shall for all purposes be deemed to have been issued by such Issuing Bank solely for its own account and risk and (B) shall not be considered a Letter of Credit outstanding under this Agreement (and therefore shall not be included when calculating the Credit Exposure), and no Bank shall be deemed to have any participation therein, effective as of the date of such issuance, amendment or extension, as the case may be, unless the Required Banks or the Approving Banks, as the case may be, expressly consent thereto; provided, however, that to be considered a Letter of Credit outstanding under this Agreement, the consent of all Banks or the Approving Banks, as the case may be, shall be required if any such issuance, amendment or extension is not then permitted hereunder by reason of the provisions of this Section 2.03, provided further that in the event that such a Letter of Credit shall be issued, it shall not result in a violation of Section 8.07 hereof or an Event of Default solely as a result of such issuance.