Common use of Form of Letters of Credit Clause in Contracts

Form of Letters of Credit. Each Letter of Credit (i) shall be dated the Issue Date, (ii) shall have an expiration date on a Business Day which occurs no more than 360 days after the Issue Date (but may be subject to renewal), and (iii) shall comply with the definition of Letters of Credit.

Form of Letters of Credit. Each Letter of Credit (i) shall be dated the Issue Date, (ii) shall have an expiration date on a Business Day which occurs no more later than 360 days the earlier of (x) one year after the Issue Date Date, and (but may be subject to renewal), y) the Relevant Payment Date; and (iii) shall comply with the definition of Letters Letter of Credit.