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Application of L‑C
Application of L‑C contract clause examples

L/C Issuer and Swingline Lender. Any resignation by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section 9.06 shall also constitute its resignation as L/C Issuer and Swingline Lender. If [[Administrative Agent:Organization]] resigns as the L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as the L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(c)]. If [[Administrative Agent:Organization]] resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to [Section 2.04(c)]. Upon the appointment by the Borrower of a successor L/C Issuer or Swingline Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline Lender, as applicable, # the retiring L/C Issuer and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue Letters of Credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit.

L/C Issuers and Swingline [[Lenders:Organization]]. Any resignation or removal by [[Administrative Agent:Organization]] as [[Lenders:Organization]] pursuant to this [Section 9.06] shall also constitute its resignation as an L/C Issuer and Swingline [[Lenders:Organization]]. If [[Administrative Agent:Organization]] resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(f)]. If [[Administrative Agent:Organization]] resigns as Swingline [[Lenders:Organization]], it shall retain all the rights of the Swingline [[Lenders:Organization]] provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to [Section 2.04(c)]. Upon the appointment by the [[Borrower:Organization]] of a successor L/C Issuer or Swingline [[Lenders:Organization]] hereunder (which successor shall in all cases be a [[Lenders:Organization]] other than a Defaulting [[Lenders:Organization]]), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline [[Lenders:Organization]], as applicable, # the retiring L/C Issuer and Swingline [[Lenders:Organization]] shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue Letters of Credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit.

Any resignation by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(c)]. If [[Administrative Agent:Organization]] resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to [Section 2.04(c)]. Upon the appointment by [[Borrower:Organization]] of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, # the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.

Any resignation or removal by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of such L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(c)]. If [[Administrative Agent:Organization]] resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to [Section 2.04(c)]. Upon the appointment by the Borrowers of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, # the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit.

Any resignation by or removal of [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation or removal as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(c)]. If [[Administrative Agent:Organization]] resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to [Section 2.04(c)]. Upon the appointment by the Borrower of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, # the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit.

Any resignation by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation as an L/C Issuer and the Swing Line Lender. If [[Administrative Agent:Organization]] resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto, including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.04(c). If [[Administrative Agent:Organization]] resigns as the Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.05(c). Upon the appointment by the Borrowers of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, # the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory

Any resignation by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as L/C Issuer or Swing Line Lender, it shall retain all the rights of L/C Issuer and/or Swing Line Lender, as applicable, provided for hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer, all L/C Obligations with respect thereto, and all Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require Revolving Credit Lenders to # make Revolving Credit Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.3(c) and (ii)])] make Revolving Credit Loans or fund risk participations in outstanding Swing Line Loans pursuant to [Section 2.2(c)]. Upon the appointment by Borrower of a successor L/C Issuer hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, # the retiring L/C Issuer shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit. Upon the appointment by Borrower of a successor Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Swing Line Lender and # the retiring Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents.

Any resignation by [[Administrative Agent:Organization]] N.A as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as L/C Issuer or Swing Line Lender, it shall retain all the rights of L/C Issuer and/or Swing Line Lender, as applicable, provided for hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer, all L/C Obligations with respect thereto, and all Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require Revolving Credit Lenders to # make Revolving Credit Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.3(c) and (ii)])] make Revolving Credit Loans or fund risk participations in outstanding Swing Line Loans pursuant to [Section 2.2(c)]. Upon the appointment by Borrower of a successor L/C Issuer hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, # the retiring L/C Issuer shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit. Upon the appointment by Borrower of a successor Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Swing Line Lender and # the retiring Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents.

Any resignation by [[Administrative Agent:Organization]] as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer and Swing Line Lender. If [[Administrative Agent:Organization]] resigns as L/C Issuer or Swing Line Lender, it shall retain all the rights of L/C Issuer and/or Swing Line Lender, as applicable, provided for hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer, all L/C Obligations with respect thereto, and all Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require Revolving Credit Lenders to # make Revolving Credit Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.3(c) and (ii)])] make Revolving Credit Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.2(c). Upon the appointment by Borrower of a successor L/C Issuer hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer, # the retiring L/C Issuer shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit. Upon the appointment by Borrower of a successor Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Swing Line Lender and # the retiring Swing

upon 30 days’ notice to the [[Parties:Organization]], resign as Swingline Lender. In the event of any such resignation as an L/C Issuer or Swingline Lender, the Company shall be entitled to appoint from among the [[Lenders:Organization]] a successor L/C Issuer or Swingline Lender hereunder; provided, however, that no failure by the Company to appoint any such successor shall affect the resignation of [[Administrative Agent:Organization]] as an L/C Issuer or Swingline Lender, as the case may be. If [[Administrative Agent:Organization]] resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to [Section 2.03(c)]). If [[Administrative Agent:Organization]] resigns as Swingline Lender, it shall retain all the rights of the Swingline Lender provided for hereunder with respect to Swingline Loans made by it and outstanding as of the effective date of such resignation, including the right to require the [[Lenders:Organization]] to make Base Rate Loans or fund risk participations in outstanding Swingline Loans pursuant to [Section 2.04(c)]. Upon the appointment of a successor L/C Issuer and/or Swingline Lender, # such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swingline Lender, as the case may be, and # the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to [[Administrative Agent:Organization]] to effectively assume the obligations of [[Administrative Agent:Organization]] with respect to such Letters of Credit.

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