LC Commitment. (i) Subject to the terms and conditions hereof, the Issuing Bank, in reliance on the agreements of the other Revolving Lenders set forth in Section 2.22(c), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower (or for the account of any Subsidiary so long as the Borrower and such Subsidiary are co-applicants in respect of such Letter of Credit) on any Business Day during the Revolving Availability Period in such form as may be approved from time to time by the Issuing Bank; provided that the Issuing Bank shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (x) the LC Obligations would exceed the LC Commitment, (y) the aggregate amount of the Available Revolving Commitments would be less than zero or (z) subject to Section 9.04(b)(ii)(E), the Applicable Fronting Exposure of such Issuing Bank would exceed its Revolving Commitment. Each Letter of Credit shall, except as provided in Section 2.22(a)(ii) below, expire no later than the earlier of (A) the first anniversary of its date of issuance and (B) the date that is five Business Days prior to the Revolving Maturity Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (B) above).
LC Commitment. (i) Subject to the terms and conditions set forth herein, (A) each Issuing Bank agrees, in reliance upon the agreements of the Revolving Credit Lenders set forth in this Section, (1) from time to time on any Business Day during the Revolving Availability Period, to issue Letters of Credit for the account of the Borrowers or any other Restricted Subsidiary (provided that the Borrowers hereby irrevocably agree to be bound jointly and severally to reimburse the applicable Issuing Bank for amounts drawn on any Letter of Credit issued for the account of any other Restricted Subsidiary) and to amend, renew or extend Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Credit Lenders severally agree to participate in such Letters of Credit and any drawings thereunder; provided that no Issuing Bank shall be obligated to make any LC Credit Extension, and no Revolving Credit Lender shall be obligated to participate in any Letter of Credit, if, as of the date of such LC Credit Extension, (w) the sum of the outstanding Revolving Credit Loans of all Revolving Credit Lenders, plus all such Lenders’ LC Exposure, plus the aggregate principal amount of Swingline Loans outstanding would exceed the Aggregate Maximum Revolving Credit Amounts, (x) the sum of the outstanding Revolving Credit Loans of a Revolving Credit Lender, plus such Lender’s LC Exposure, plus such Lender’s Revolving Credit Percentage Share of the outstanding Swingline Loans would exceed such Lender’s Maximum Revolving Credit Amount, (y) the total LC Exposure would exceed their LC Commitment or (z) such Issuing Bank’s LC Exposure would exceed its LC Commitment Amount. All Existing Letters of Credit shall be deemed to have been issued pursuant hereto as of the Original Closing Date, and from and after the Original Closing Date shall be subject to and governed by the terms and conditions set forth herein. Letters of Credit shall constitute utilization of the Revolving Credit Commitments. All Borrowers shall be jointly and severally liable as borrowers for all Letters of Credit and related Obligations regardless of which Borrower delivers a notice of borrowing or receives the proceeds thereof.
LC Commitment. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of and (subject to the representation in the second sentence of clause (b) below being true and correct) each Issuing Lender agrees to issue Letters of Credit in Dollars upon request of the Borrower at any time and from time to time from the Revolver Availability Date to but excluding the date that is five (5) Business Days prior to the Revolving Facility Maturity Date, for the Borrower’s own account or the account of any other Subsidiary of Parent; provided that no Issuing Lender shall issue (or amend, renew or extend) any Letter of Credit if, after giving effect to such issuance (or amendment, renewal or extension), (i) the LC Exposure in respect of Letters of Credit issued by it would exceed its LC Commitment or (ii) the aggregate amount of the Unused Total Revolving Commitment would be less than zero.
LC Commitment. 23 2.2 Loan Procedures....................................................................................23 2.2.1 Various Types of Loans....................................................................23 2.2.2 Borrowing Procedures......................................................................23 2.2.3 Conversion and Continuation Procedures....................................................24 2.3 Letter of Credit Procedures........................................................................25 2.3.1 LC Applications...........................................................................25 2.3.2 Participations in Letters of Credit.......................................................25 2.3.3 Reimbursement Obligations.................................................................26 2.3.4 Limitation on Obligations of Issuing Lender...............................................26 2.3.5 Funding by Lenders to Issuing Lender......................................................26 2.4 Commitments Several................................................................................27 2.5 Certain Conditions.................................................................................27 2.6 Holdings as Funds Administrator....................................................................27
LC Commitment. (a) The Issuing Lender will issue standby letters of credit, in each case containing such terms and conditions as are permitted by this Agreement and are reasonably satisfactory to the Issuing Lender (each a "Letter of Credit"), at the request of the Funds Administrator and for the account of the Borrowers from time to time before the date which is 30 days prior to the Revolving Credit Termination Date and (b) as more fully set forth in Section 2.3.2, each Lender agrees to purchase a participation in each such Letter of Credit; provided that (i) the aggregate Stated Amount of all Letters of Credit shall not at any time exceed $100,000 and (ii) the Revolving Outstandings will not exceed at any time the lesser of (x) the Revolving Commitment Amount and (y) the Borrowing Base.
LC Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Revolving Lenders set forth in Section 3.4, agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the LC Obligations would exceed the LC Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is fifteen Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above).
LC Commitment. (a) Subject to the terms and conditions hereof, the Issuing Bank, in reliance on the agreements of the other Lenders set forth in Section 3.04(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Bank; provided that the Issuing Bank shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the LC Obligations would exceed the LC Commitment, (ii) the Aggregate Outstanding Credit would exceed the Borrowing Base, or (iii) the aggregate amount of the Available Commitments would be less than zero. The Existing Letter of Credit shall constitute and be treated as a Letter of Credit issued pursuant to this Agreement.
LC Commitment. (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in subsection 2.7(a) agrees to issue letters of credit ("Letters of Credit") for the account of the Borrower on any Business Day during the Revolving Credit Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the LC Obligations would exceed the LC Commitment or (ii) the Available Revolving Credit Commitment would be less than zero.
LC Commitment. Subject to the terms and conditions of this Agreement and applicable Law, LC Issuer agrees, in reliance upon the agreement of the other Lenders in this SECTION 2.2, to issue LCs or to amend and renew LCs previously issued by it, upon Borrower's application therefor (denominated in Dollars or, upon Borrower's request and subject to this SECTION 2.2, in a Foreign Currency) by delivering to Administrative Agent a properly completed notice (a "NOTICE OF LC," substantially in the form of EXHIBIT B-3) and an LC Agreement with respect thereto no later than 10:00 a.m. Dallas, Texas time three Business Days before such LC is to be issued or amended; PROVIDED THAT (i) on any date of determination and after giving effect to any LC to be issued or amended on such date, the Commitment Usage (calculated at the then Dollar-Equivalent of that amount) shall never exceed the Commitment then in effect, (ii) on any date of determination and after giving effect to any LC to be issued or amended on such date, the LC Exposure (calculated at the then Dollar-Equivalent of that amount) shall never exceed the LC Commitment, (iii) at the time of issuance or amendment of such LC, no Default or Potential Default shall have occurred and be continuing, and (iv) each LC must expire NO LATER than the EARLIER of the thirtieth (30th) day prior to the Termination Date or two years from its issuance; PROVIDED FURTHER THAT (x) any LC may provide for automatic renewal for successive twelve month periods (but no renewal period may
LC Commitment. On and after the Closing Date and prior to the Facility Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement and in reliance upon the representations and warranties of the Borrower herein set forth, to participate in Facility LCs issued pursuant to Section 2.13 for the account of the Borrower; provided that in no event may the aggregate amount of all LC Obligations exceed the lesser of (A) the Aggregate LC Commitment or (B) an amount equal to the Aggregate Commitment minus the sum of all outstanding Loans.
