Black & Decker CYCLONE BLC12600BUC Manuel d'utilisateur télécharger pdf (Page 136)

day from the date such amount is made available to such Borrower until the date such amount is repaid to the Administrative Agent, at

(i) in the case of such Borrower, the interest rate applicable at the time to the Advances comprising such Borrowing and (ii) in the case

of such Lender, the Federal Funds Rate. If such Lender shall repay to the Administrative Agent such corresponding amount, such

amount so repaid shall constitute such Lender's Advance as part of such Borrowing for all purposes of this Agreement.

(d) The failure of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve

any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be

responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing.

SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit. (a) Request for

Issuance. (i) Each Letter of Credit shall be issued upon notice, given not later than 1:00 P.M. (New York City time) on the third

Business Day prior to the date of the proposed issuance of such Letter of Credit (or on such shorter notice as the applicable Issuing

Bank may agree), by the applicable Borrower to any Issuing Bank, and such Issuing Bank shall give the Administrative Agent, prompt

notice thereof by telecopier. Each such notice of issuance of a Letter of Credit (a "Notice of Issuance") shall be by telephone,

confirmed immediately in writing, or telecopier, specifying therein the requested (A) date of such issuance (which shall be a Business

Day), (B) Available Amount of such Letter of Credit, (C) expiration date of such Letter of Credit, (D) name and address of the

beneficiary of such Letter of Credit and (E) form of such Letter of Credit, and shall be accompanied by such customary application

and agreement for letter of credit as such Issuing Bank may specify to the Borrower for use in connection with such requested Letter

of Credit (a "Letter of Credit Agreement"). If the requested form of such Letter of Credit is acceptable to such Issuing Bank in its sole

discretion, such Issuing Bank will, upon fulfillment of the applicable conditions set forth in Article III, make such Letter of Credit

available to the applicable Borrower at its office referred to in Section 9.02 or as otherwise agreed with such Borrower in connection

with such issuance. In the event and to the extent that the provisions of any Letter of Credit Agreement shall conflict with this

Agreement, the provisions of this Agreement shall govern.

(b) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the

amount thereof) and without any further action on the part of the applicable Issuing Bank or the Lenders, such Issuing Bank hereby

grants to each Lender, and each Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such

Lender's Pro Rata Share of the aggregate amount available to be drawn under such Letter of Credit. Each Borrower hereby agrees to

each such participation. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally

agrees to pay to the Administrative Agent, for the account of such Issuing Bank, such Lender's Pro Rata Share of each drawing made

under a Letter of Credit funded by such Issuing Bank and not reimbursed by the applicable Borrower on the date made, or of any

reimbursement payment required to be refunded to any Borrower for any reason. Each Lender acknowledges and agrees that its

obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not

be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence

and continuance

Source: BLACK & DECKER CORP, 10-K, February 19, 2010 Powered by Morningstar

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Black & Decker CYCLONE BLC12600BUC Manuel d'utilisateur Page 136