Determination of Issuing Lender. Upon receipt by a proposed Issuing Lender of a Request for Issuance pursuant to subsection 3.1B(i) requesting the issuance of a Letter of Credit, the proposed Issuing Lender shall promptly notify the Company and the Administrative Agent whether or not, in its sole discretion, it has elected to issue or arrange for the issuance of such Letter of Credit, and (1) if such proposed Issuing Lender so elects to issue or arrange for the issuance of such Letter of Credit it shall be the Issuing Lender with respect thereto and (2) if such proposed Issuing Lender fails so to notify the Company and the Administrative Agent promptly or declines to issue or arrange for the issuance of such Letter of Credit, the Company may request another Revolving Lender to be the Issuing Lender with respect to such Letter of Credit in accordance with the provisions of this subsection 3.1B.
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Determination of Issuing Lender. Upon receipt by a proposed Issuing Lender of a Request for Notice of Issuance of Letter of Credit pursuant to subsection 3.1B(i) requesting the issuance of a Letter of Credit, the such proposed Issuing Lender shall promptly notify the Company Borrower and the Administrative Agent (if such proposed Issuing Lender is not Administrative Agent) whether or not, in its sole discretion, it has elected to issue or arrange for the issuance of such Letter of Credit, and (1) if such proposed Issuing Lender so elects to issue or arrange for the issuance of such Letter of Credit Credit, it shall be the Issuing Lender with respect thereto and (2) if such proposed Issuing Lender fails to so to promptly notify the Company Borrower and the Administrative Agent promptly or declines to issue or arrange for the issuance of such Letter of Credit, the Company Borrower may request another Revolving Lender to be the Issuing Lender with respect to such Letter of Credit in accordance with the provisions of this subsection 3.1B.3.
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