Common use of The Letter of Credit Subfacility Clause in Contracts

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein, the Bank agrees (i) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date to issue Letters of Credit for the account of the Company (or for the account of any Subsidiary of the Company, provided, that the applicable L/C Application shall be submitted jointly and severally by the Company and its Subsidiary and the Company shall be liable for all L/C Obligations with respect to such Letter of Credit, which shall be deemed for all purposes hereof to be a Letter of Credit issued for the account of such Company), and to amend or renew Letters of Credit previously issued by it, in accordance with subsection 3.02(b), and (ii) to honor drafts under the Letters of Credit; provided, that the Bank shall not be obligated to Issue any Letter of Credit if as of the date of Issuance of such Letter of Credit (A) the Effective Amount of all L/C Obligations plus the Effective Amount of all Loans shall exceed the Commitment, or (B) the Effective Amount of all L/C Obligations shall exceed the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein, herein the Bank agrees agrees, (iA) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date to issue Letters of Credit for the account of the Company (or for the account of any Subsidiary of the Company, provided, that the applicable L/C Application shall be submitted jointly and severally by the Company and its Subsidiary and the Company shall be liable for all L/C Obligations with respect to such Letter of Credit, which shall be deemed for all purposes hereof to be a Letter of Credit issued for the account of such Company)Borrower, and to amend or renew Letters of Credit previously issued by it, in accordance with subsection 3.02(bSections 3.02(c) and (d), and (iiB) to honor drafts under the Letters of Credit; providedPROVIDED, that the Bank shall not be obligated to Issue any Letter of Credit if as of the date of Issuance of such Letter of Credit (Athe "ISSUANCE DATE") (1) the Effective Amount of all L/C Obligations plus the Effective Amount of all Loans shall exceed exceeds the Commitment, Commitment or (B2) the Effective Amount of all L/C Obligations shall exceed exceeds the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the CompanyBorrower's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein, the Bank agrees agrees, (iA) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Expiry Date to issue Letters of Credit for the account of the Company (or for the account of any Subsidiary of the Company, provided, that the applicable L/C Application shall be submitted jointly and severally by the Company and its Subsidiary and the Company shall be liable for all L/C Obligations with respect to such Letter of Credit, which shall be deemed for all purposes hereof to be a Letter of Credit issued for the account of such Company)Borrower, and to amend or renew Letters of Credit previously issued by it, in accordance with subsection 3.02(bsubsections 4.02(c) and 4.02(d), and (iiB) to honor drafts under the Letters of Credit; providedPROVIDED, that the Bank shall not be obligated to Issue issue any Letter of Credit if as of the date of Issuance issuance of such Letter of Credit (Athe "ISSUANCE DATE") (1) the Effective Amount of all L/C Obligations plus the Effective Amount of all Revolving Loans shall exceed exceeds the Revolving Commitment, or (B2) the Effective Amount of all L/C Obligations shall exceed exceeds the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the CompanyBorrower's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.. (b) The Bank is under no obligation to issue any Letter of Credit if:

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein, the Bank agrees herein (i) the Issuing Lender agrees, (A) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date to issue Letters of Credit for the account of the Company (or for the account of any Subsidiary of the Company, provided, that the applicable L/C Application shall be submitted jointly and severally by the Company and its Subsidiary and the Company shall be liable for all L/C Obligations with respect to such Letter of Credit, which shall be deemed for all purposes hereof to be a Letter of Credit issued for the account of such Company), and to amend or renew Letters of Credit previously issued by it, in accordance with subsection 3.02(bsubsections 3.2(c) and 3.2(d), and (iiB) to honor properly drawn drafts under the Letters of CreditCredit issued by it; provided, and (ii) the Lenders severally agree to participate in Letters of Credit Issued for the account of the Company; provided that the Bank Issuing Lender shall not be obligated to Issue Issue, and no Lender shall be obligated to participate in, any Letter of Credit if as of the date of Issuance of such Letter of Credit (Athe "Issuance Date") (1) the Effective Amount of all L/C Obligations plus the Effective Amount aggregate amount of all Revolving Loans shall exceed exceeds the Commitment, amount of the Revolving Commitment or the Borrowing Base; or (B2) the Effective Amount of all L/C Obligations shall exceed exceeds the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.