Common use of Additional Credit Enhancement Clause in Contracts

Additional Credit Enhancement. (a) At the cost and expense of the Users, the Users may deliver to the Trustee, and the Trustee shall accept, security for the payment of the Bonds in addition to the Letter of Credit then in effect, in the form of a confirmation of such Letter of Credit, an additional standby letter of credit, insurance, surety bonds, or otherwise ("Additional Credit Enhancement"). (b) The Users shall deliver to the Trustee not less than 45 days prior to the effective date of such Additional Credit Enhancement written notice of their intention to obtain the Additional Credit Enhancement. (c) The Trustee shall deliver to the Holders, via first class mail, not less than 30 days prior to the effective date of the Additional Credit Enhancement written notice of the intent of the Users to deliver such Additional Credit Enhancement and the proposed issuer and effective date thereof.