Common use of Requests for Offers Clause in Contracts

Requests for Offers. From time to time during the Availability Period, a Specified Account Party may request any or all of the Lenders to make offers to issue an Alternative Currency Letter of Credit for account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. An Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Alternative Currency Letter of Credit XL Group shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC Exposure shall not exceed the aggregate amount of the Commitments. Each such Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL Group, the Specified Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Alternative Currency Letter of Credit shall not be later than the one-year anniversary from the date of issuance thereof (or, in the case of any renewal or extension thereof, one-year after such renewal or extension).

Requests for Offers. From time to time during the Availability Period, a Specified Account Party may request any or all of the Lenders to make offers to issue an Alternative Currency Letter of Credit for account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. An Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Alternative Currency Letter of Credit XL Group shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC Credit Exposure shall not exceed the aggregate amount of the Commitments. Each such Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL Group, the Specified Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Alternative Currency Letter of Credit shall not be later than the one-year anniversary from the date of issuance thereof (or, in the case of any renewal or extension thereof, one-year after such renewal or extension).

Requests for Offers. From time to time during the Availability Period, a Specified an Account Party may request any or all of the Lenders to make offers to issue an Alternative Currency Letter of Credit for account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. An Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Alternative Currency Letter of Credit XL Group the Account Parties shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC Credit Exposure shall not exceed the aggregate amount of the Commitments. Each such Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL GroupCapital, the Specified applicable Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Alternative Currency Letter of Credit shall not be later than the one-year anniversary from the date of issuance thereof (or, in the case of any renewal or extension thereof, one-year after such renewal or extension).

Requests for Offers. From time to time during the Availability Period, a Specified an Account Party may request any or all of the Lenders to make offers to issue an Alternative 364-Day Credit Agreement Currency Letter of Credit for account of such Specified Account Party. Each Lender may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such Lender, and such Specified Account Party may, but shall have no obligation to, accept any such offers. An Alternative Currency Letter of Credit shall be issued, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension of each Alternative Currency Letter of Credit XL Group the Account Parties shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC aggregate Credit Exposure of the Lenders shall not exceed the aggregate amount of the Commitments. Each such Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL GroupCapital, the Specified applicable Account Party and such Lender shall agree, including expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Alternative Currency Letter of Credit shall not be later than the one-year anniversary from the date of issuance thereof (or, in the case of any renewal or extension thereof, one-year after such renewal or extension).

Requests for Offers. From time to time during the Commitment Availability Period, a Specified Period an Account Party may request any or all of the Lenders Banks to make offers to issue an Alternative Currency Letter of Credit for account of such Specified Account Party. Each Lender Bank may, but shall have no obligation to, make such offers on terms and conditions that are satisfactory to such LenderBank, and such Specified Account Party may, but shall have no obligation to, accept any such offers. An The issuance of each Alternative Currency Letter of Credit shall be issuedsubject to the conditions of Section 3.01 and to such other conditions as are agreed upon by such Account Party and the Bank issuing such Alternative Currency Letter of Credit, amended, renewed or extended only if (and upon such issuance, amendment, renewal or extension the issuance of each any Alternative Currency Letter of Credit XL Group shall be deemed to represent be a representation and warrant thatwarranty by such Account Party on the date thereof as to the facts specified in Section 3.01(b), after giving effect to such issuance, amendment, renewal or extension, the Aggregate LC Exposure shall not exceed the aggregate amount of the CommitmentsSection 3.01(c) and Section 3.01(d). Each such Alternative Currency Letter of Credit shall be issued, and subsequently, renewed, extended, amended and confirmed, on such terms as XL Groupthe Company, the Specified applicable Account Party and such Lender Bank shall agree, including including, without limitation, expiry, drawing conditions, reimbursement, interest, fees and provision of cover; provided that the expiry of any Alternative Currency Letter of Credit shall not be later than the one-close of business Third Amended and Restated Letter of Credit and Reimbursement Agreement on the earlier of (i) the date one year anniversary from after the date of the issuance thereof of such Alternative Currency Letter of Credit or (orii) the date five Business Days prior to the Commitment Termination Date; provided, in further, that such Alternative Currency Letter of Credit may contain “evergreen” provisions for the case of any renewal or extension thereof, one-thereof to a date one year after such renewal or extension)the then current expiry date thereof.