Common use of Commitment to Issue Clause in Contracts

Commitment to Issue. Borrower may utilize Revolving Commitments ------------------- by requesting that the Fronting Bank issue, and the Fronting Bank, subject to the terms and conditions of this Agreement, shall issue, standby and commercial letters of credit for Borrower's account (such letters of credit being hereinafter referred to 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 maximum amount prescribed by Section 2.1, and (iii) the Outstanding Revolving Credit applicable to ----------- any Lender shall not at any time exceed the maximum amount for a Lender prescribed by Section 2. 1. Upon the date of issue of a Letter of Credit, ----------- Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each Lender who holds a Revolving Commitment, and each such Lender shall be deemed, without further action by any party hereto, to have purchased from Administrative Agent, a participation to the extent of such Lender's Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities.

Commitment to Issue. Borrower may utilize Revolving ------------------- Commitments ------------------- by requesting that the Fronting Bank issue, and the Fronting Bank, subject to the terms and conditions of this Agreement, shall issue, standby and commercial letters of credit for Borrower's account (such letters of credit being hereinafter referred to 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 maximum amount prescribed by Section 2.1, and (iii) the ----------- Outstanding Revolving Credit applicable to ----------- any Lender shall not at any time exceed the maximum amount for a Lender prescribed by Section 2. 1. Upon the ----------- date of issue of a Letter of Credit, ----------- Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each Lender who holds a Revolving Commitment, and each such Lender shall be deemed, without further action by any party hereto, to have purchased from Administrative Agent, a participation to the extent of such Lender's Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities.