Common use of Commitment to Issue Letters of Credit Clause in Contracts

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time before the Termination Date upon the request of the Company; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, and so long as no Stop Issuance Notice is in effect, each Issuing Bank agrees to issue Letters of Credit from time to time before the Letter of Credit Termination Date upon the request of the CompanyBorrower; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,00050,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each BankLender, and each Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time before the Letter of Credit Termination Date upon the request of the CompanyBorrower; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,000500,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each BankLender, and each Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank Lender agrees to issue Letters of Credit from time to time before the Letter of Credit Termination Date upon the request of the CompanyBorrower; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,00050,000,000. Upon the date of issuance by an Issuing Bank Lender of a Letter of Credit, the Issuing Bank Lender shall be deemed, without further action by any party hereto, to have sold to each BankLender, and each Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Issuing BankLender, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time before the Letter of Credit Termination Date upon the request of the CompanyBorrower; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time before the Letter of Credit Termination Date upon the request of the CompanyBorrower; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,000200,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each BankLender, and each Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.

Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit from time to time from and after the Closing Date and before the Termination Date upon the request of the Company; provided that, immediately after each Letter of Credit is issued (i) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments and (ii) the aggregate amount of the Letter of Credit Liabilities shall not exceed $100,000,000125,000,000. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. If the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the Bank relating to any Letters of Credit are not consistent with the terms and conditions of this Agreement, the terms and conditions of this Agreement shall control.