Common use of Other Existing LCs Clause in Contracts

Other Existing LCs. Pursuant to the Prior Credit Agreement, certain of the Prior LC Issuers have issued prior to the date hereof, and there are currently outstanding, those certain Letters of Credit identified in Schedule 4.4 hereto as having been issued by the Prior LC Issuers identified therein (as the same may be extended, amended or increased by any such Prior LC Issuer in accordance with this Agreement, the "Other Existing LCs"). The Other Existing LCs shall remain outstanding after the date of this Agreement and, from and after the date of this Agreement, shall constitute Facility Letters of Credit for all purposes under this Agreement and shall be subject to all terms and conditions hereof. On the date hereof, simultaneously with the payment made to the Prior Lenders under Section 5.1(ix), the participation of the Prior Lenders in the Other Existing LCs shall terminate and the Prior LC Issuers that have issued such Other Existing LCs shall be deemed to have sold and transferred, and each Lender shall be deemed to have irrevocably and unconditionally purchased and received from such Prior LC Issuers, in each case without further action on the part of any Person, an undivided interest and participation (ratably in proportion to the ratio that such Lender's Commitment bears to the Aggregate Commitment) in each such Other Existing LCs. Each Lender severally agrees to fund any disbursements by the Prior LC Issuers that have issued such Other Existing LCs pursuant to the Other Existing LCs by funding in accordance with Section 4.6.

Other Existing LCs. Pursuant to the Prior Original Credit Agreement, certain of the Prior LC Issuers Issuing Banks have issued prior to the date hereof, and there are currently outstanding, those certain Letters of Credit identified in Schedule 4.4 hereto as having been issued by the Prior LC Issuers Issuing Banks identified therein (as the same may be extended, amended or increased by any such Prior LC Issuer Issuing Bank in accordance with this Agreement, the "Other Existing LCs"). The Other Existing LCs shall remain outstanding after the date of this Agreement and, from and after the date of this Agreement, shall constitute Facility Letters of Credit for all purposes under this Agreement and shall be subject to all terms and conditions hereof. On the date hereof, simultaneously with the payment made to the Prior Lenders Banks under Section 5.1(ix), the participation of the Prior Lenders Banks in the Other Existing LCs shall terminate and the Prior LC Issuers Issuing Banks that have issued such Other Existing LCs shall be deemed to have sold and transferred, and each Lender Bank shall be deemed to have irrevocably and unconditionally purchased and received from such Prior LC IssuersIssuing Banks, in each case without further action on the part of any Person, an undivided interest and participation (ratably in proportion to the ratio that such LenderBank's Commitment bears to the Aggregate Commitment) in each such Other Existing LCs. Each Lender Bank severally agrees to fund any disbursements by the Prior LC Issuers Issuing Banks that have issued such Other Existing LCs pursuant to the Other Existing LCs by funding in accordance with Section 4.6.

Other Existing LCs. Pursuant to the Prior Credit Agreement, certain of the Prior LC Issuers Issuing Banks have issued prior to the date hereof, and there are currently outstanding, those certain Letters of Credit identified in Schedule 4.4 hereto as having been issued by the Prior LC Issuers Issuing Banks identified therein (as the same may be extended, amended or increased by any such Prior LC Issuer Issuing Bank in accordance with this Agreement, the "“Other Existing LCs"”). The Other Existing LCs shall remain outstanding after the date of this Agreement and, from and after the date of this Agreement, shall constitute Facility Letters of Credit for all purposes under this Agreement and shall be subject to all terms and conditions hereof. On the date hereof, simultaneously with the payment made to the Prior Lenders under Section 5.1(ix), the participation of the Prior Lenders in the Other Existing LCs shall terminate and the Prior LC Issuers Issuing Banks that have issued such Other Existing LCs shall be deemed to have sold and transferred, and each Lender shall be deemed to have irrevocably and unconditionally purchased and received from such Prior LC IssuersIssuing Banks, in each case without further action on the part of any Person, an undivided interest and participation (ratably in proportion to the ratio that such Lender's ’s Commitment bears to the Aggregate Commitment) in each such Other Existing LCs. Each Lender severally agrees to fund any disbursements by the Prior LC Issuers Issuing Banks that have issued such Other Existing LCs pursuant to the Other Existing LCs by funding in accordance with Section 4.6.