Template:M summ GMSLA 5.9

If you are tiresome enough to have supplied a Letter of Credit in support of your Loan, (a) the Lender can ask you to switch up to something more useful instead, and (b) you have to replace or extend an LC in plenty of time before it expires. This latter aspect an unnecessary ornamentation, because if you didn’t extend it, your required Collateral value would drop proportionately and you’d be in margin call anyway.