Each Letter of Credit (as defined in the Existing 2016 Credit Facility) issued under the Existing 2016 Credit Facility and outstanding as of the Effective Date and is specified on Schedule 2.4(o) (each an “ Existing Letter of Credit ”) is hereby deemed to be a Letter of Credit issued and outstanding under this Agreement as of the Effective Date and the issuer thereof is hereby deemed to be an Issuing Bank hereunder.
existing letters of credit