Common use of Facility LCS Clause in Contracts

Facility LCS. Section 2.19.1. Issuance The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby letters of credit (each, a “Facility LC”) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a “Modification”), from time to time from and including the date of this Agreement and prior to the Facility Termination Date upon the request of the Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $5,000,000, and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Commitment. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Facility Termination Date and (y) one year after its issuance. Section 2.19.2. Participations Upon the issuance or Modification by the LC Issuer of a Facility LC in accordance with this Section 2.19, the LC Issuer shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably sold to each Lender, and each Lender shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the LC Issuer, a participation in such Facility LC (and each Modification thereof) and the related LC Obligations in proportion to its Applicable Percentage.

Facility LCS. Section 2.19.1(A Issuance. Issuance The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby letters of credit (each, a “"Facility LC”") and to renew, extend, increase, decrease or otherwise modify each Facility LC (“"Modify,” " and each such action a “"Modification”"), from time to time from and including the date of this Agreement and prior to the Facility Termination Date upon the request of the Borrower; provided that immediately after each such Facility LC is issued or Modified, (i) the aggregate amount of the outstanding LC Obligations shall not exceed $5,000,000, 10,000,000.00 and (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving CommitmentCommitment Amount. Facility LC's issued pursuant to the Original Credit Agreement, the First Amended Credit Agreement or the Second Amended Credit Agreement and outstanding as of the Closing of this Agreement shall also constitute Facility LCs hereunder. No Facility LC shall have an expiry date later than the earlier of (x) the fifth Business Day prior to the Facility Termination Date and (y) one year after its issuance. Section 2.19.2(B Participations. Participations Upon the issuance or Modification by the LC Issuer of a Facility LC in accordance with this Section 2.192.20, the LC Issuer shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably sold to each LenderBank, and each Lender Bank shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the LC Issuer, a participation in such Facility LC (and each Modification thereof) and the related LC Obligations in proportion to its Applicable PercentagePercentage Share.