Common use of Existing Letters of Credit and Designated Letters of Credit Clause in Contracts

Existing Letters of Credit and Designated Letters of Credit. (a) On and as of the Closing Date the letters of credit and letters of guarantee set forth on Exhibit C to the L/C Fee Letter (the “Existing Letters of Credit”) will constitute Letters of Credit under this Agreement and for the purposes hereof will be deemed to have been issued for the account of an Applicable Account Party, for which the Company shall be jointly and severally liable, on the Closing Date and each issuer thereof shall be deemed to be an Issuing Lender hereunder solely for the purposes of Sections 3.3, 3.4, 3.5, 3.6, 3.7, 3.8 and 3.9 (whether or not such issuer is otherwise an Issuing Lender hereunder). For the avoidance of doubt, each of the letters of credit outstanding under the Existing Three Year Credit Agreement as of the Closing Date shall be listed on Exhibit C to the L/C Fee Letter and shall be Existing Letters of Credit hereunder.