Common use of Letter of Credit Commitments Clause in Contracts

Letter of Credit Commitments. Subject to the terms and conditions hereof and the execution and delivery by the Borrowers of a letter of credit application on the Issuing Bank's customary form (a "Letter of Credit Application"), the Issuing Bank on behalf of the Lenders and in reliance upon the agreement of the Lenders set forth in ss.4.1(d) and upon the representations and warranties of the Obligors contained herein, agrees, in its individual capacity, to issue, extend and renew for the account of the Borrowers one or more standby or documentary letters of credit (individually, a "Letter of Credit"), in such form as may be requested from time to time by the Borrowers and agreed to by the Issuing Bank; provided, however, that, after giving effect to such request, (i) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $25,000,000 at any one time and (ii) the sum of (A) the Maximum Drawing Amount of all Letters of Credit, (B) all Unpaid Reimbursement Obligations, (C) the Acceptance Face Amount, and (D) the principal amount of all Loans outstanding shall not exceed the Total Commitment, and further provided, (x) no standby Letter of Credit shall have an expiry date later than the date which is one year from the issuance thereof, and (y) no documentary Letter of Credit shall have any expiry date which is later than the date which is one hundred and eighty (180) days after the issuance thereof.

Letter of Credit Commitments. (a) Subject to the terms and conditions hereof and the execution and delivery by the Borrowers receipt of a letter Loan and Letter of credit application on Credit Request reflecting the Issuing Bank's customary form Maximum Drawing Amount of all Letters of Credit (including the requested Letter of Credit) and a "Letter of Credit Application"), the Issuing Bank Lender, on behalf of the Revolving Credit Lenders and in reliance upon the agreement of the such Lenders set forth in ss.4.1(d§3.1(c) and upon the representations and warranties of the Obligors Borrowers contained herein, agrees, in its individual capacity, agrees to issue, extend and renew for the account of the Borrowers issue one or more standby or documentary letters of credit (individually, a "“Letter of Credit"”), in such form as may be requested from time to time by the Borrowers and agreed to by the Issuing BankLender; provided, however, that, after giving effect to such request, (i) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $25,000,000 at any one time and (ii) the sum of (A) the Maximum Drawing Amount of all Letters of Credit, Credit issued at any time under this §3.1(a) shall not exceed $80,000,000 and (Bii) the aggregate Maximum Drawing Amount of all Letters of Credit and all Unpaid Reimbursement Obligations, (C) Obligations plus the Acceptance Face Amount, and (D) the principal aggregate outstanding amount of all Revolving Credit Loans plus the aggregate outstanding amount of Swing Line Loans shall not exceed the Total Commitment, ; and provided further provided, (x) that no standby Letter of Credit shall have an expiry expiration date later than the date which is earlier of (A) one year from after the date of issuance thereof, and (y) no documentary of such Letter of Credit shall have any expiry date which is later than the date which is (subject to periodic extensions for periods not to exceed one hundred and eighty year), or (180B) thirty (30) days after prior to the issuance thereofRevolving Credit Maturity Date.

Letter of Credit Commitments. (a) Subject to the terms and conditions hereof and the execution and delivery by the Borrowers receipt of a letter Loan and Letter of credit application on Credit Request reflecting the Issuing Bank's customary form Maximum Drawing Amount of all Letters of Credit (including the requested Letter of Credit) and a "Letter of Credit Application"), the Issuing Bank Lender, on behalf of the Revolving Credit Lenders and in reliance upon the agreement of the such Lenders set forth in ss.4.1(dss.3.1(c) and upon the representations and warranties of the Obligors Borrowers contained herein, agrees, in its individual capacity, agrees to issue, extend and renew for the account of the Borrowers issue one or more standby or documentary letters of credit (individually, a "Letter of CreditLETTER OF CREDIT"), in such form as may be requested from time to time by the Borrowers and agreed to by the Issuing BankLender; providedPROVIDED, howeverHOWEVER, that, after giving effect to such request, (i) the sum of the aggregate Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not exceed $25,000,000 at any one time and (ii) the sum of (A) the Maximum Drawing Amount of all Letters of Credit, Credit issued at any time under this ss.3.1(a) shall not exceed $80,000,000 and (Bii) the aggregate Maximum Drawing Amount oF all Letters of Credit and all Unpaid Reimbursement Obligations, (C) Obligations PLUS the Acceptance Face Amount, and (D) the principal aggregate outstanding amount of all Revolving Credit Loans PLUS the aggregate outstanding amount of Swing Line Loans shall not exceed the Total Commitment, ; and further provided, (x) PROVIDED FURTHER that no standby Letter of Credit shall have an expiry expiration date later than the date which is earlier of (A) one year from after the date of issuance thereof, and (y) no documentary of such Letter of Credit shall have any expiry date which is later than the date which is (subject to periodic extensions for periods not to exceed one hundred and eighty year), or (180B) thirty (30) days after prior to the issuance thereofRevolving Credit Maturity Date.