Common use of Request for Extension or Increase Clause in Contracts

Request for Extension or Increase. An Account Party may from time to time request the Issuing Bank to extend the expiration date of an outstanding Participated Letter of Credit or increase (or, with the consent of the beneficiary, decrease) the Stated Amount of or the amount available to be drawn on such Participated Letter of Credit. Such extension or increase shall for all purposes hereunder be treated as though such Account Party had requested issuance of a replacement Participated Letter of Credit (except only that the Issuing Bank may, if it elects, issue a notice of extension or increase (or, with the consent of the beneficiary, decrease) in lieu of issuing a new Participated Letter of Credit in substitution for the outstanding Participated Letter of Credit).

Request for Extension or Increase. An Account Party may from time to time request by providing a notice to the Issuing Bank to extend Agent the extension of the expiration date of an outstanding Participated Syndicated Letter of Credit or increase (or, with the consent of the beneficiary, decrease) the Stated Amount of or the amount available to be drawn on such Participated Syndicated Letter of Credit. Such extension or increase shall for all purposes hereunder be treated as though such Account Party had requested issuance of a replacement Participated Syndicated Letter of Credit (except only that the Issuing Bank Agent may, if it elects, issue execute and deliver a notice of extension or increase (or, with the consent of the beneficiary, decrease) in lieu of issuing executing and delivering a new Participated Syndicated Letter of Credit in substitution for the outstanding Participated Syndicated Letter of Credit).