Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of # the date twelve months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve months after such renewal or extension, so long as such renewal or extension occurs within three months of such then current expiration date) and # the date that is five Business Days prior to the Commitment Termination Date; provided, however, that any Letter of Credit with a one-year term may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of one year or less (but not beyond the date that is five Business Days prior to the Commitment Termination Date) unless the Issuing Bank notifies the beneficiary thereof at least 30 days prior to the then-applicable expiration date that such Letter of Credit will not be renewed; provided, further, however, that a Letter of Credit may expire after the date that is five Business Days prior to the Commitment Termination Date, subject to the Borrower’s obligation to cash collateralize such Letter of Credit as provided in the last paragraph of [Section 2.09(a)].
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal thereof for additional one (1) year periods; provided further, that # in no event shall a Letter of Credit expire after the Commitment Termination Date unless the Borrower # either # deposits, no later than five (5) Business Days prior to the Commitment Termination Date, into the Letter of Credit Collateral Account, Cash in an amount equal to 100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Commitment Termination Date or # supports such Letter of Credit with another letter of credit pursuant to arrangements reasonably satisfactory to the Issuing Bank and the Administrative Agent, and # pays in full, on or prior to the Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and # no Letter of Credit shall have an expiry date after the Maturity Date.
Expiration Date. Each Letter of Credit will expire at or prior to the close of business on the earlier of # the date one year after the date of the issuance of such Letter of Credit (or, in the case of any extension thereof, one year after such extension) and # the date that is five Business Days prior to the Maturity Date; provided that any Letter of Credit may contain customary automatic extension provisions agreed upon by the applicable Borrower and the applicable Issuing Bank pursuant to which the expiration date of such Letter of Credit shall automatically be extended for a period of up to 12 months (but not to a date later than the date set forth in [clause (ii) above]), subject to a right on the part of such Issuing Bank to prevent any such extension from occurring by giving notice to the beneficiary thereof at least 30 days (or such longer period specified in the applicable Letter of Credit) in advance of any such extension.
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of # the date twelve months after the date of the issuance of such Letter of Credit and # the date that is five Business Days prior to the Revolving Facility Commitment Termination Date; provided, that a Letter of Credit may provide for the automatic renewal thereof for additional one-year periods (but shall in no event extend beyond the date referred to in [clause (ii) above]).
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of # the date that is one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and # the date that is five Business Days prior to the Revolving Maturity Date; provided that if such expiry date is not a Business Day, such Letter of Credit shall expire at or prior to close of business on the next succeeding Business Day; provided, however, that any Letter of Credit may, upon the request of a Borrower, include a provision whereby such Letter of Credit shall be renewed automatically for additional consecutive periods of one year or less (but not beyond the date that is five Business Days prior to the Revolving Maturity Date) unless the applicable Issuing Bank notifies the beneficiary thereof within the time period specified in such Letter of Credit or, if no such time period is specified, at least 30 days prior to the then-applicable expiration date, that such Letter of Credit will not be renewed.
Expiration Date. Each Letter of Credit shall expire (or be subject to termination by notice from the Issuing Bank to the beneficiary thereof) at or prior to the close of business on the date specified by the Borrower in its request therefor, which date shall be no later than the earlier of # the date that is 12 months after the date of the issuance of such Letter of Credit (or, in the case of any extension thereof, 12 months after such extension) or such longer period of time as may be agreed by the applicable Issuing Bank and # unless cash collateralized or backstopped pursuant to arrangements reasonably acceptable to the applicable Issuing Bank, the date that is five (5) Business Days prior to the Maturity Date; provided that any Letter of Credit may provide for automatic extension thereof for additional periods of up to 12 months or such longer period of time as may be agreed by the applicable Issuing Bank (which shall in no event extend beyond the date referred to in the first sentence of this paragraph (c)).
Expiration Date. Each Letter of Credit shall by its terms expire at or prior to the close of business on the earlier of # the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and # the date that is five Business Days prior to the Maturity Date; provided that # any Letter of Credit may contain customary automatic renewal or extension provisions agreed upon by the Borrower and the applicable Issuing Bank pursuant to which
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of # the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and # the date that is five Business Days prior to the Revolving Maturity Date; provided that any Letter of Credit may contain customary automatic renewal provisions agreed upon by the Borrower and the applicable Issuing Bank pursuant to which the expiration date of such Letter of Credit shall automatically be extended for a period of up to 12 months (but not to a date later than the date set forth in [clause (ii) above]), subject to a right on the part of such Issuing Bank to prevent any such renewal from occurring by giving notice to the beneficiary in advance of any such renewal; and provided further that if there exist any Extended Revolving Commitments having a maturity date later than the Revolving Maturity Date (the “Subsequent Maturity Date”), then, so long as the aggregate LC Exposure in respect of Letters of Credit expiring after the Revolving Maturity Date will not exceed the lesser of $20,000,000 and the aggregate amount of such Extended Revolving Commitments, the Borrower may request the issuance of a Letter of Credit that shall expire at or prior to the close of business on the earlier of # the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and # the date that is five Business Days prior to the Subsequent Maturity Date.
Expiration Date. Each Letter of Credit shall expire at or prior to the close of business on the earlier of # the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and # the date that is five (5) Business Days prior to the Maturity Date; provided that, subject to satisfaction of conditions applicable to renewals of Letters of Credit herein, any Letter of Credit with a one-year tenor may provide for the automatic renewal thereof for additional one-year periods (which, in no event, shall extend beyond the date referred to in clause (ii) of this paragraph).
Expiration Date. Each Letter of Credit shall have a stated expiration date no later than the earlier of # the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any extension of the expiration date thereof, whether automatic or by amendment, twelve months after the then‑current expiration date of such Letter of Credit) and # the date that is five (5) Business Days prior to the Maturity Date; provided, however, that a Letter of Credit may have a stated expiration date up to twelve (12) months after the date referred to in [clause (y)] (but not after the date referred to in clause (x)) so long as not later than five (5) Business Days prior to the Maturity Date, the Borrower Cash Collateralizes such Letter of Credit in accordance with [Section 2.03(q)].
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