Obligations of L/C Issuers. Each L/C Issuer (other than GE Capital) hereby agrees that it will not issue a Letter of Credit hereunder until it has provided Agent with written notice specifying the amount and intended issuance date of such Letter of Credit and Agent has returned a written acknowledgment of such notice to L/C Issuer. Each L/C Issuer (other than GE Capital) further agrees to provide to Agent: (a) a copy of each Letter of Credit issued by such L/C Issuer promptly after its issuance; (b) a weekly report summarizing available amounts under Letters of Credit issued by such L/C Issuer, the dates and amounts of any draws under such Letters of Credit, the effective date of any increase or decrease in the face amount of any Letters of Credit during such week and the amount of any unreimbursed draws under such Letters of Credit; and (c) such additional information reasonably requested by Agent from time to time with respect to the Letters of Credit issued by such L/C Issuer. Without limiting the generality of the foregoing, it is expressly understood and agreed by Borrowers that the absolute and unconditional obligation of Borrowers to Agent and Lenders hereunder to reimburse payments made under a Letter of Credit will not be excused by the gross negligence or willful misconduct of the L/C Issuer. However, the foregoing shall not be construed to excuse an L/C Issuer from liability to Borrowers to the extent of any direct damages (as opposed to consequential damages, with Borrowers hereby waiving all claims for any consequential damages to the extent permitted by applicable law) suffered by Borrowers that are subject to indemnification under the Master Standby Agreement or the Master Documentary Agreement.
Obligations of L/C Issuers. Each L/C Issuer (other than GE Capital) hereby agrees that it will not issue a Letter of Credit hereunder until it has provided Agent with written notice specifying the amount and intended issuance date of such Letter of Credit and Agent has returned a written acknowledgment of such notice to L/C Issuer (such notices and acknowledgements to be given promptly). Each L/C Issuer (other than GE Capital) further agrees to provide to Agent: (a) a copy of each Letter of Credit issued by such L/C Issuer promptly after its issuance; (b) a weekly report summarizing available amounts under Letters of Credit issued by such L/C Issuer, the dates and amounts of any draws under such Letters of Credit, the effective date of any increase or decrease in the face amount of any Letters of Credit during such week and the amount of any unreimbursed draws under such Letters of Credit; and (c) such additional information reasonably requested by Agent from time to time with respect to the Letters of Credit issued by such L/C Issuer.
Obligations of L/C Issuers. Each L/C Issuer agrees to provide Agent (which, after receipt, Agent shall provide to each Revolving Lender), in form and substance satisfactory to Agent, each of the following on the following dates: (A) (i) on or prior to any Issuance of any Letter of Credit by such L/C Issuer, (ii) immediately after any drawing under any such Letter of Credit or (iii) immediately after any payment (or failure to pay when due) by Borrower of any related L/C Reimbursement Obligation, notice thereof, which shall contain a reasonably detailed description of such Issuance, drawing or payment; (B) upon the request of Agent (or any Revolving Lender through Agent), copies of any Letter of Credit Issued by such L/C Issuer and any related L/C Reimbursement Agreement and such other documents and information as may reasonably be requested by Agent; (C) on the first Business Day of each calendar week if there has been any change to such schedule since the previous delivery pursuant to this clause (C), a schedule of the Letters of Credit Issued by such L/C Issuer, in form and substance reasonably satisfactory to Agent, setting forth the Letter of Credit Obligations for such Letters of Credit outstanding on the last Business Day of the previous calendar week; and (D) promptly following request by Agent, such additional information reasonably requested by Agent from time to time with respect to the Letters of Credit issued by such L/C Issuer.
Obligations of L/C Issuers. Each L/C Issuer hereby agrees that it will not issue a Letter of Credit hereunder until it has provided Agent with written notice specifying the amount and intended issuance date of such Letter of Credit and Agent has returned a written acknowledgment of
Obligations of L/C Issuers. In addition to any of the other applicable requirements set forth in this Section 2.03, each L/C Issuer agrees to provide the Administrative Agent, in form and substance satisfactory to Agent, each of the following on the following dates: (i) (A) on or prior to any issuance or any amendment (increasing the amount available to be drawn thereunder) of any Letter of Credit by such L/C Issuer, (B) immediately after any drawing under any such Letter of Credit and (C) immediately after any payment (or failure to pay when due) by the Borrower of any related L/C Obligation, notice thereof, which shall contain a reasonably detailed description of such issuance, amendment, drawing or payment, and the Administrative Agent shall provide copies of such notices to each Lender reasonably promptly after receipt thereof; (ii) upon the request of the Administrative Agent, copies of any Letter of Credit issued by such L/C Issuer and any related Issuer Document and such other documents and information as may reasonably be requested by the Administrative Agent; and (iii) (x) on or prior to the 10th Business Day before the end of each calendar quarter and (y) within three (3) Business Days after the Administrative Agent’s request therefor, a schedule of the Letters of Credit issued by such L/C Issuer, in form and substance reasonably satisfactory to the Administrative Agent, setting forth the L/C Obligations (including any fluctuations in the Outstanding Amounts with respect to L/C Obligations owing to such L/C Issuer denominated in Alternative Currencies) for such Letters of Credit then outstanding. Each L/C Issuer hereby agrees that, notwithstanding anything to the contrary contained herein or in any other Loan Document, if such L/C issuer (other than Bank of America) shall fail to comply with the requirements of this Section 2.03(l), the Administrative Agent may, in its reasonable discretion, cause the L/C Obligations in respect of Letters of Credit issued by such L/C Issuer to be, in whole or in part, subordinated with respect to any distributions pursuant to Section 8.03 in a manner determined by the Administrative Agent.
