Common use of LC Commitment Clause in Contracts

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