Whenever a Borrower desires the issuance of a Syndicated Letter of Credit, the respective Borrower will give the L/C Agent written notice with a copy to the Administrative Agent not later than 11:00 a.m. three Business Days (or such shorter period as is acceptable to the L/C Agent in its sole discretion in any given case) prior to the requested date of issuance thereof.  Each such notice (each, a " Syndicated Letter of Credit Notice ") shall be irrevocable, shall be given in the form of Exhibit B-3 or such other form reasonably acceptable to the L/C Agent, and shall specify (i) the requested date of issuance, which shall be a Business Day, (ii) the requested Stated Amount and expiry date of the Syndicated Letter of Credit, (iii) the name and address of the requested beneficiary or beneficiaries of the Syndicated Letter of Credit, and (iv) whether such Syndicated Letter of Credit to be issued is a Tranche 1 Letter of Credit (and if so, whether it is to be issued as a Secured Letter of Credit) or Tranche 2 Letter of Credit.  Such Borrower will also complete any application procedures and documents reasonably required by the L/C Agent in connection with the issuance of any Syndicated Letter of Credit.  Upon its issuance of any Syndicated Letter of Credit, the L/C Agent will promptly notify the Administrative Agent of such issuance, and the Administrative Agent will give prompt notice thereof to each applicable Tranche 1 Lender or Tranche 2 Lender, as the case may be.  The renewal or extension of any outstanding Syndicated Letter of Credit shall, for purposes of this Article III , be treated in all respects as the issuance of a new Syndicated Letter of Credit.  In addition to any Syndicated Letter of Credit Notice (or electronic notice acceptable to the L/C Agent) with respect to a Syndicated Letter of Credit that is to be a Secured Letter of Credit, the Borrowers shall deliver to the Administrative Agent a Collateral Value Report or other evidence satisfactory to the Administrative Agent reflecting sufficient Collateral Value not later than 11:00 a.m. on the Business Day immediately preceding the date on which such Secured Letter of Credit is to be issued.