Common use of Letter of Credit Subfacility Clause in Contracts

Letter of Credit Subfacility. Subject to the terms and conditions set forth in this Agreement, the Borrower may request the issuance of, and the Issuing Lender in reliance upon the agreements of the Lenders set forth in Section 2.02.3 agrees to issue, Letters of Credit for the accounts of the Borrower’s or any of its Subsidiaries, in a form acceptable to the Issuing Lender, at any time and from time to time on any Business Day from the Closing Date through, but not including the LC Expiration Date, provided, however, that (a) no Default or Event of Default has occurred and is then continuing, (b) the aggregate amount of LC Obligations (after giving effect to any requested issuance) shall not at any time exceed the Letter of Credit Sublimit, (c) the sum of the aggregate unpaid balances of the Revolving Credit Loans plus the aggregate amount of LC Obligations (after giving effect to any requested issuance) shall not exceed the Revolving Credit Maximum Borrowing Amount, (d) all Letters of Credit shall be denominated in Dollars, and not in any other currency, (e) Letters of Credit shall be issued for lawful corporate purposes and shall be issued as standby letters of credit, (f) the issuance of any Letter of Credit shall not violate any policies of the Issuing Lender, and (g) no Letter of Credit shall contain any provision for automatic reinstatement of the Stated Amount after any drawing thereunder. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other LC Document submitted by the Borrower to, or entered into by the Borrower with, the Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

Letter of Credit Subfacility. (a) Subject to the conditions and on the terms and conditions hereinafter set forth in this Agreement, the Borrower may request the issuance of, and the Issuing Lender in reliance upon the agreements representations and warranties of the Lenders set forth Loan Parties contained in Section 2.02.3 agrees to issueArticle V, Letters of Credit for the accounts of the Borrower’s or any of its Subsidiaries, in a form acceptable to the Issuing Lender, at any time and Lender agrees (i) from time to time on any Business Day Day, during the period from the Closing Date through, but not including to the LC day which is five (5) Business Days prior to the Expiration Date, to issue Letters of Credit in U.S. Dollars for the account of Borrower or another Loan Party in an aggregate Stated Amount at any one time that, ​ ​ ​ together with the aggregate Stated Amount of all other outstanding Letters of Credit issued pursuant hereto, does not exceed the L/C Commitment, and to amend or renew Letters of Credit previously issued by it, and (ii) to honor drafts under Letters of Credit; provided, however, that the Issuing Lender shall not be obligated to Issue any Letter of Credit if as of the date of Issuance of such Letter of Credit (athe “Issuance Date”) no Default or Event of Default has occurred and is then continuing, (bA) the aggregate amount of LC outstanding Revolving Credit Loans exceeds the Revolving Credit Availability, or (B) the L/C Obligations (after giving effect to any requested issuance) shall not at any time exceed the Letter of Credit SublimitL/C Commitment. If on any date the L/C Obligations exceed the L/C Commitment, (c) the sum of Borrower shall immediately, without further notice or demand by the aggregate unpaid balances Issuing Lender, prepay the outstanding principal amount of the Revolving Credit Loans plus by an amount equal to the aggregate amount of LC Obligations (after giving effect applicable excess. Within the foregoing limits, and subject to any requested issuance) shall not exceed the Revolving Credit Maximum Borrowing Amountother terms and conditions hereof, (d) all the Borrower's ability to obtain Letters of Credit shall be denominated in Dollarsfully revolving, and not in any other currencyand, (e) accordingly, the Borrower may, during the foregoing period, obtain Letters of Credit shall be issued for lawful corporate purposes and shall be issued as standby letters of credit, (f) the issuance of any Letter to replace Letters of Credit shall not violate any policies of the Issuing Lender, which have expired or which have been drawn upon and (g) no Letter of Credit shall contain any provision for automatic reinstatement of the Stated Amount after any drawing thereunderreimbursed. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other LC Document submitted by the Borrower to, or entered into by the Borrower with, the Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control.​

Letter of Credit Subfacility. Subject to the terms and conditions set forth in this Agreement, an Authorized Officer of the Borrower may request on behalf of the Borrower the issuance of, and the Issuing Lender Bank in reliance upon the agreements of the Lenders set forth in Section 2.02.3 2.03.3 agrees to issue, Letters of Credit for the accounts of the Borrower’s Borrower or any of its Subsidiariesthe Loan Parties, in a form reasonably acceptable to the Issuing LenderBank, at any time and from time to time on any Business Day from the 106 Closing Date through, but not including the LC L/C Expiration Date, provided, however, that (a) no Default or Event of Default has occurred and is then continuing, (b) the aggregate amount of LC L/C Obligations (after giving effect to any requested issuance) shall not at any time exceed the Letter of Credit Sublimit, (c) the sum of the aggregate unpaid balances of the Total Revolving Credit Loans plus the aggregate amount of LC Obligations Outstanding (after giving effect to any requested issuance) shall not exceed the Revolving Credit Maximum Borrowing AmountDollar Cap, (d) all Letters of Credit shall be denominated in Dollars, and not in any other currency, (e) Letters of Credit shall be issued for lawful corporate purposes and shall be issued as standby letters of credit, (f) the issuance of any Letter of Credit shall not violate any policies of the Issuing LenderBank, and (g) no Letter of Credit shall contain any provision for automatic reinstatement of the Stated Amount stated amount after any drawing thereunder. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other LC L/C Document submitted by the Borrower to, or entered into by the Borrower with, the Issuing Lender Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

Letter of Credit Subfacility. Subject to the terms and conditions set forth in this Agreement, an Authorized Officer of the Borrower Representative may request on behalf of the Borrowers the issuance of, and the Issuing Lender Bank in reliance upon the agreements of the Lenders set forth in Section 2.02.3 2.05.3 agrees to issue, Letters of Credit for the accounts of the Borrower’s Borrowers or any of its Subsidiaries, in a form acceptable to the Issuing LenderBank, at any time and from time to time on any Business Day from the Closing Date through, but not including the LC L/C Expiration Date, provided, however, that (a) no Default or Event of Default has occurred and is then continuing, (b) the aggregate amount of LC L/C Obligations (after giving effect to any requested issuance) shall not at any time exceed the Letter of Credit Sublimit, (c) the sum of the aggregate unpaid balances of the Total Revolving Credit Loans plus the aggregate amount of LC Obligations Outstandings (after giving effect to any requested issuance) shall not exceed the Revolving Credit Maximum Borrowing AmountDollar Cap, (d) all Letters of Credit shall be denominated in Dollars, and not in any other currency, (e) Letters of Credit shall be issued for lawful corporate purposes and shall be issued as standby letters of credit, (f) the issuance of any Letter of Credit shall not violate any policies of the Issuing LenderBank, and (g) no Letter of Credit shall contain any provision for automatic reinstatement of the Stated Amount stated amount after any drawing thereunder. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of Letter of Credit Application or other LC L/C Document submitted by the Borrower Borrowers to, or entered into by the Borrower Borrowers with, the Issuing Lender Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.