Common use of Commitment to Issue Clause in Contracts

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue standby or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, being hereinafter referred to collectively as the "Letters of Credit"); provided, however, (i) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitments, and (ii) the Outstanding Revolving Credit applicable to a Revolving Bank shall not at any time exceed such Revolving Bank's Revolving Commitment. Upon the date of issue of a Letter of Credit, the Agent shall be deemed, without further action by any party hereto, to have sold to each other Revolving Bank, and each other Revolving Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Revolving Bank's Revolving Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities. On and after the Closing Date, the Existing Letters of Credit shall be and be deemed to be "Letters of Credit" issued hereunder and each Revolving Bank shall be deemed to have purchased a participation in an amount equal to such Revolving Bank's Revolving Commitment Percentage of the Existing Letters of Credit.

Commitment to Issue. The Borrower may utilize the Revolving ------------------- Commitments by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue standby or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively as the "Letters of Credit", which may be for the benefit ----------------- of a subsidiary); provided, however, (i) the aggregate amount of outstanding -------- ------- Letter of Credit Liabilities shall not at any time exceed Forty-five Million Dollars ($45,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitments, and maximum amount prescribed by Section 2.1; (iiiii) the Outstanding ----------- Revolving Credit applicable to a Revolving Bank any Lender shall not at any time exceed such the maximum amount for a Lender prescribed by Section 2.1; and (iv) the Outstanding ----------- Revolving Bank's Revolving CommitmentCredit shall not exceed the Borrowing Base. Upon the date of issue of a Letter of Credit, the Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankCommitment, and each such other Revolving Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Revolving Commitments only) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of the Administrative Agent and after the Closing Date, Fronting Bank shall no longer be considered a "Letter of Credit" as defined in this Agreement and any participating interest heretofore granted by the Existing Letters Fronting Bank to the Lenders holding Revolving Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Fronting Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments ------------------- by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue issue, standby or documentary and commercial letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively as the "Letters of Credit", which may ----------------- be for the benefit of a Subsidiary of Borrower); provided, however, (i) -------- ------- the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Fifteen Million Dollars ($15,000,000), (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitmentsmaximum amount prescribed by Section 2.1, and (iiiii) the Outstanding Revolving ----------- Credit applicable to a Revolving Bank any Lender shall not at any time exceed such Revolving Bank's Revolving Commitmentthe maximum amount for a Lender prescribed by Section 2.1. Upon the date of issue of a Letter of Credit, the Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankCommitment, and each other Revolving Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of Administrative Agent and after the Closing Date, Fronting Bank shall no longer be considered a "Letter of Credit" as defined in this Agreement and any participating interest heretofore granted by the Existing Letters Fronting Bank to the Lenders holding Revolving Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Fronting Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue issue, standby or documentary and commercial letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively as the "Letters LETTERS OF CREDIT", which may be for the benefit of Credit"a Subsidiary of Borrower); providedPROVIDED, howeverHOWEVER, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Ten Million Dollars ($10,000,000), (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitmentsmaximum amount prescribed by SECTION 2.1, and (iiiii) the Outstanding Revolving Credit applicable to a Revolving Bank any Lender shall not at any time exceed such Revolving Bank's Revolving Commitmentthe maximum amount for a Lender prescribed by SECTION 2.1. Upon the date of issue of a Letter of Credit, the Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankCommitment, and each other Revolving Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of Administrative Agent and after the Closing Date, Fronting Bank shall no longer be considered a "Letter of Credit" as defined in this Agreement and any participating interest heretofore granted by the Existing Letters Fronting Bank to the Lenders holding Revolving Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Fronting Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent Issuing Bank issue, and the AgentIssuing Bank, subject to the terms and conditions of this Agreement, shall issue issue, standby or commercial documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively herein as the "Letters of Credit", which may be for the account of any Loan Party); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed $5,000,000, (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitmentsmaximum amount prescribed by Section 2.1, and (iiiii) the Outstanding Revolving Credit applicable to a Revolving Bank any Lender shall not at any time exceed the maximum amount for such Revolving Bank's Revolving CommitmentLender prescribed by Section 2.1. Upon the date of issue of a Letter of Credit, the Agent Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankCommitment, and each other Revolving Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Issuing Bank, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of Agent and after the Closing Date, Issuing Bank shall no longer be considered a "Letter of Credit" covered by the Existing Letters terms of this Agreement and any participating interest heretofore granted by the Issuing Bank to the Lenders holding Revolving Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Issuing Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Loans A Commitments by requesting that the Agent cause the Issuing Bank to issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue cause the Issuing Bank to issue, standby or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively herein as the "Letters of Credit"); , which may be for the account of the Borrower or any other Related Party) provided, however, however (i) the Outstanding Revolving aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed the aggregate Revolving Commitments, and $5,000,000 (ii) the Outstanding aggregate amount of the outstanding Revolving Loans A plus the outstanding Letter of Credit applicable to a Revolving Bank Liabilities shall not at any time exceed such the Revolving Bank's Revolving CommitmentLoans A Commitments. Upon the date of issue of a Letter of Credit, the Agent Issuing Bank shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankLoans A Commitment, and each other Revolving Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Issuing Bank, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Revolving Loans A Commitments) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Loans A Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of the Agent and after the Closing Date, Issuing Bank shall no longer be considered a "Letter of Credit" covered by the Existing Letters terms of this Agreement and any participating interest heretofore granted by the Issuing Bank to the Lenders holding Revolving Loans A Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Issuing Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue issue, standby or commercial and/or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively as the "Letters of Credit", which may be for the benefit of a subsidiary); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Five Million Dollars ($5,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the remainder of aggregate Revolving Commitments, ; minus the Swingline Advances then outstanding and (iiiii) the Outstanding Revolving Credit applicable to a Revolving Bank Lender shall not at any time exceed the remainder of such Revolving BankLender's Revolving CommitmentCommitment minus such Lenders Commitment Percentage of the Swingline Advances then outstanding. Upon the date of issue of a Letter of Credit, the Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other Lender who holds a Revolving BankCommitment, and each such other Revolving Bank Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Revolving Commitments only) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Revolving Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of the Administrative Agent and after the Closing Date, Fronting Bank shall no longer be considered a "Letter of Credit" as defined in this Agreement and any participating interest heretofore granted by the Existing Letters Fronting Bank to the Lenders holding Revolving Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Fronting Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue issue, standby or documentary letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, including, without limitation, the Existing Letters of Credit, credit being hereinafter referred to collectively herein as the "Letters of Credit"); provided, however, provided that (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed $2,000,000, (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitmentsmaximum amount prescribed by Section 2.1, and (iiiii) the Outstanding Revolving Credit applicable to a Revolving Bank any Lender shall not at any time exceed the maximum amount for such Revolving Bank's Revolving CommitmentLender prescribed by Section 2.1. Upon the date of issue of a Letter of Credit, the Agent Fronting Bank shall be deemed, without further action by any party hereto, to have sold to each other Revolving BankLender who holds a Commitment, and each other Revolving Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Fronting Bank, a participation to the extent of such Revolving BankLender's Revolving Commitment Percentage (calculated with respect to the Commitments) in such Letter of Credit and the related Letter of Credit Liabilities. On Upon termination of the Commitments, any Letter of Credit then outstanding which has been fully cash collateralized to the satisfaction of the Agent and after the Closing Date, Fronting Bank shall no longer be considered a "Letter of Credit" as provided by the Existing Letters terms of this Agreement and any participating interest heretofore granted by the Fronting Bank to the Lenders holding Commitments in such Letter of Credit shall be and be deemed terminated but the letter of credit fees payable hereunder shall continue to be "Letters of Credit" issued hereunder and each Revolving accrue to the Fronting Bank shall be deemed to have purchased a participation in an amount equal with respect to such Revolving Bank's Revolving Commitment Percentage Letter of Credit until the Existing Letters of Creditexpiry thereof.

Commitment to Issue. The Borrower may utilize the Revolving Commitments by requesting that the Administrative Agent issue, and the Administrative Agent, subject to the terms and conditions of this Agreement, shall issue standby or documentary issue, letters of credit for the Borrower's or one of the its Subsidiaries' account (such letters of credit, including, without limitation, collectively with all letters of credit issued by the Existing Letters Collateral Agent under Section 2.7 of Creditthe Prior Agreement which are outstanding on the Closing Date and described on Schedule 1.1 (b), being hereinafter referred to collectively as the "LETTERS OF CREDIT" and those Letters of CreditCredit described on Schedule 1.1 (b) herein the "EXISTING LETTERS OF CREDIT"); providedPROVIDED, howeverHOWEVER, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Twenty-Five Million Dollars ($25,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate Revolving Commitments, Commitments or (B) the Borrowing Base; and (iiiii) the Outstanding Revolving Credit applicable to a Revolving Bank shall not at any time exceed such Revolving Bank's Revolving CommitmentCommitment (except, with respect to the Administrative Agent as a Bank, as may otherwise result from the operation of Section 4.6). Upon the date of issue of a Letter of Credit (or with respect to all Existing Letters of Credit, on the Closing Date), the Administrative Agent (or if applicable, the Collateral Agent) shall be deemed, without further action by any party hereto, to have sold to each other Revolving Bank, and each other Revolving Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Revolving Bank's Revolving Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities. On and after The Collateral Agent shall have no authority to issue any Letters of Credit under the Closing Dateterms of this Section 2.7 and, without the consent of the Administrative Agent, the Collateral Agent shall not amend or otherwise modify any Existing Letter of Credit. The Borrower will take all action as the Administrative Agent may reasonably request to cause all Existing Letters of Credit shall be and be deemed to be "amended to make them payable at the Principal Office or replaced by Letters of Credit" Credit issued hereunder and each Revolving Bank shall be deemed to have purchased a participation in an amount equal to such Revolving Bank's Revolving Commitment Percentage of by the Existing Letters of CreditAdministrative Agent.