Several Letters of Credit. (a) The L/C Administrator is hereby authorized to execute and deliver each Several Letter of Credit and each amendment to a Several Letter of Credit on behalf of each Lender provided that, upon request of the Borrower, such Several Letter of Credit or amendment will be executed by each Lender. The L/C Administrator shall use the Commitment Percentage of each Lender as its “Commitment Share” under each Several Letter of Credit; provided that each Limited Fronting Lender (if any), in its capacity as such, shall, in addition to its own “Commitment Share” as a Lender, have a “Commitment Share” (or equivalent term) equal to the Commitment Percentage (or portion thereof, if applicable) of each Non-NAIC Approved Bank for which such Limited Fronting Lender acts in such capacity under such Several Letter of Credit. The L/C Administrator shall not amend any Several Letter of Credit to change the “Commitment Shares” of any Lender or add or delete a Lender liable thereunder unless such amendment is done in connection with a Limited Fronting Lender Agreement in accordance with Section 3.8(c), an assignment in accordance with Section 11.6, a change in the Lenders and/or the Commitment Percentages as a result of any increase in the Commitments pursuant to Section 2.1 or any other addition or replacement of a Lender in accordance with the terms of this Agreement. Each Lender (including, for the avoidance of doubt, each Limited Fronting Lender) hereby irrevocably constitutes and appoints the L/C Administrator its true and lawful attorney-in-fact for and on behalf of such Lender with full power of substitution and revocation in its own name or in the name of the L/C Administrator to issue, execute and deliver, as the case may be, each Several Letter of Credit and each amendment to a Several Letter of Credit and to carry out the purposes of this Agreement with respect to Several Letters of Credit. Upon request, each Lender shall execute such powers of attorney or other documents as any beneficiary of any Several Letter of Credit may reasonably request to evidence the authority of the L/C Administrator to execute and deliver such Several Letter of Credit and any amendment or other modification thereto on behalf of the Lenders. To the extent that the L/C Administrator has not received funds from a Lender with respect to a Several Letter of Credit, the L/C Administrator shall only forward the funds actually received to the beneficiary.
Several Letters of Credit. (a) Subject to and upon the terms and conditions set forth herein, each Account Party may request the Issuing Agent, at any time and from time to time on or after the Effective Date and prior to the Commitment Expiration Date, to issue, on behalf of each Lender, for the account of such Account Party and in support of, on a standby basis, Letter of Credit Supportable Obligations of such Account Party to any other Person, and subject to and upon the terms and conditions herein set forth, the Issuing Agent agrees to issue at any time and from time to time on or after the Effective Date and prior to the Commitment Expiration Date one or more irrevocable standby letters of credit denominated in Dollars and in such form as may be approved by the Issuing Agent which approval shall not be unreasonably withheld or delayed (each such letter of credit, a “Several Letter of Credit” and, collectively, the “Several Letters of Credit”). Subject to the terms and conditions hereof and any other instruments and documents contemplated hereby, it is the intent of the parties hereto that all Letters of Credit shall be clean and irrevocable and otherwise in a form sufficient for the beneficiary cedent to take credit on its financial statements for reinsurance recoverables under applicable rules, laws and regulations.
Several Letters of Credit. Letters of Credit issued severally by the Lenders substantially in the form of Exhibit E with such changes therein as the LC Administrator determines is not adverse to the interests of the Lenders.
Several Letters of Credit. (i) In the event that the Borrowers require Letters of Credit in an aggregate drawable amount that exceeds the aggregate LC Sublimits of the Issuing Lenders, then the Company may request that Letters of Credit be issued by the Lenders on a several basis (each, a “Several Letter of Credit”), with each Lender being an Issuing Lender with respect to such Letter of Credit in an amount equal to its Applicable Percentage of the drawable amount of such Letter of Credit. Each Lender agrees to execute and deliver Several Letters of Credit on the terms described in this paragraph. Each Several Letter of Credit (A) shall provide that the beneficiary may only draw thereunder if it makes a simultaneous drawing on each Lender for such Lender’s Applicable Percentage of such drawing and (B) shall allow for replacements, substitutions and reallocations of the issuers of such Several Letters of Credit and the reallocation of drawable interests thereunder in order to allow and give effect to assignments of Commitments permitted by Section 8.4. Each Several Letter of Credit shall be issued pursuant to procedures established by the Administrative Agent and Issuing Agent in a manner consistent with this Section 2.22.
Several Letters of Credit. (a) Subject to and upon the terms and conditions set forth herein, each Borrower (other than any Irish Designated Subsidiary Borrower) may request that the Issuing Agent at any time and from time to time on or after the Effective Date and prior to the Final Maturity Date to issue, for the account of such Borrower and in support of, on a standby basis, Letter of Credit Supportable Obligations of such Borrower to any other Person and subject to and upon the terms and conditions herein set forth the Issuing Agent agrees to issue at any time and from time to time on or after the Effective Date and prior to the Final Maturity Date one or more irrevocable standby letters of credit in such form as may be approved by the Issuing Agent (each such letter of credit, a “Several Letter of Credit” and, collectively, the “Several Letters of Credit”).
Several Letters of Credit. (i) Subject to and upon the terms and conditions set forth herein, the Borrower may request the Issuing Agent, at any time and from time to time during the Availability Period, to issue, on behalf of each Lender, for the account of the Borrower or any Subsidiary, to any other Person, and subject to and upon the terms and conditions herein set forth, the Issuing Agent agrees to issue at any time and from time to time during the Availability Period one or more irrevocable standby letters of credit denominated in Dollars and in such form as may be approved by the Issuing Agent (each such letter of credit, a “Several Letter of Credit” and, collectively, the “Several Letters of Credit”). In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Agent relating to any Several Letter of Credit, the terms and conditions of this Agreement shall control. The Borrower unconditionally and irrevocably agrees that, in connection with any Several Letter of Credit issued for the support of any Subsidiary’s obligations as provided in the first sentence of this paragraph, the Borrower will be fully responsible for the reimbursement of LC Disbursements in accordance with the terms hereof, the payment of interest thereon and the payment of fees due under Section 2.12(b) to the same extent as if it were the sole account party in respect of such Several Letter of Credit (the Borrower hereby irrevocably waiving any defenses that might otherwise be available to it as a guarantor or surety of the obligations of such a Subsidiary that is an account party in respect of any such Several Letter of Credit).
Several Letters of Credit. (a) Subject to and upon the terms and conditions set forth herein, each Borrower may request the Issuing Agent at any time and from time to time on or after the Restatement Effective Date and prior to the Commitment Expiration Date to issue, for the account of such Borrower and in support of, on a standby basis, Letter of Credit Supportable Obligations of such Borrower to any other Person and subject to and upon the terms and conditions herein set forth the Issuing Agent agrees to issue at any time and from time to time on or after the Restatement Effective Date and prior to the Commitment Expiration Date one or more irrevocable standby letters of credit in such form as may be approved by the Issuing Agent which approval shall not be unreasonably withheld (each such letter of credit, a "Several Letter of Credit" and, collectively, the "Several Letters of Credit").
Several Letters of Credit. (a) Subject to and upon the terms and conditions set forth herein, each Borrower may request the Issuing Agent at any time and from time to time on or after the Effective Date and prior to the Commitment Expiration Date to issue, for the account of such Borrower and in support of, on a standby basis, Letter of Credit Supportable Obligations of such Borrower to any other Person and subject to and upon the terms and conditions herein set forth the Issuing Agent agrees to issue at any time and from time to time on or after the Effective Date and prior to the Commitment Expiration Date one or more irrevocable standby letters of credit in such form as may be approved by the Issuing Agent which approval shall not be unreasonably withheld (each such letter of credit, a "Several Letter of Credit" and, collectively, the "Several Letters of Credit").
Several Letters of Credit. Tranche B Letters of Credit issued severally by the Tranche B Lenders substantially in the form of Exhibit F with such changes therein as the LC Administrator determines is not adverse to the interests of the Tranche B Lenders.
Several Letters of Credit. (a) Upon request of Xxxxxxxx, the L/C Administrator is hereby authorized to execute and deliver each Several Letter of Credit and each amendment to a Several Letter of Credit on behalf of each Revolving Credit Lender; provided that, upon request of the Borrower, such Several Letter of Credit or amendment will be executed by each Revolving Credit Lender. The L/C Administrator shall use the Revolving Credit Percentage of each Revolving Credit
