Except as listed on Schedule 12 hereto and made a part hereof, attached as Schedule 12 to the Prior Perfection Certificate is a true and correct list of all Letters of Credit that constitute Pledged Collateral issued in favor of each Company, as beneficiary thereunder, stating if letter-of-credit rights with respect to such Letters of Credit are required to be subject to a control arrangement pursuant to the Security Agreement.
letter-of-credit rights