Common use of LC Commitment Clause in Contracts

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.