Common use of Letter of Credit Subfeature Clause in Contracts

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (“Subfeature LCs”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs shall not at any time exceed Two Million Dollars ($2,000,000.00). The form and substance of each Subfeature LC shall be subject to approval by Bank, in its sole discretion. Each standby letter of credit shall be issued for a term not to exceed three hundred sixty five (365) days and each sight commercial letter of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrower. The undrawn amount of all Subfeature LCs shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC shall be subject to the additional terms and conditions of Bank’s standard Standby Letter of Credit agreement or Commercial Letter of Credit agreement as applicable, and all applications and related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit.

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (“Subfeature LCs”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs shall not at any time exceed Two Million Dollars ($2,000,000.00). The form and substance of each Subfeature LC shall be subject to approval by Bank, in its sole discretion. Each standby letter of credit shall be issued for a term not to exceed three hundred sixty five (365) days and each sight commercial letter of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrower. The undrawn amount of all Subfeature LCs shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC shall be subject to the additional terms and conditions of Bank’s 's standard Standby Letter of Credit agreement or Commercial Letter of Credit agreement as applicable, and all applications and related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit.

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (“Subfeature LCs”each, a "Letter of Credit" and collectively, "Letters of Credit"); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs Letters of Credit shall not at any time exceed Two Four Million Dollars ($2,000,000.004,000,000.00). The form and substance of each Subfeature LC Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each standby letter Letter of credit Credit shall be issued for a term not to exceed three hundred sixty sixty-five (365) days and each sight commercial letter of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrower; provided however, that no Letter of Credit shall have an expiration date subsequent to the maturity date of the Line of Credit. The undrawn amount of all Subfeature LCs Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC Letter of Credit shall be subject to the additional terms and conditions of Bank’s standard Standby the Letter of Credit agreement or Commercial Letter of Credit agreement as applicableagreements, and all applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (each, a “Subfeature LCsLetter of Credit” and collectively, “Letters of Credit”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs Letters of Credit shall not at any time exceed Two One Million Dollars ($2,000,000.001,000,000). The form and substance of each Subfeature LC Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each standby letter Letter of credit Credit shall be issued for a term not to exceed three hundred sixty five (365) days and each sight commercial letter of credit shall be issued for a term not to exceed ninety (90) days, as designated by BorrowerBorrower (subject to automatic renewal). If a Letter of Credit is outstanding after the term of the Line of Credit (or after acceleration by Bank pursuant to the terms hereof), Borrower will cash collateralize the undrawn amount of such Letter of Credit in an amount equal to one hundred five percent (105%) of such undrawn amount. The undrawn amount of all Subfeature LCs Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC Letter of Credit shall be subject to the additional terms and conditions of Bank’s standard Standby the Letter of Credit agreement or Commercial Letter of Credit agreement as applicableagreements, and all applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.”

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (each, a “Subfeature LCsLetter of Credit” and collectively, “Letters of Credit”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs Letters of Credit shall not at any time exceed Two One Million Dollars ($2,000,000.001,000,000.00). The form and substance of each Subfeature LC Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each standby letter Letter of credit Credit shall be issued for a term not to exceed three hundred sixty sixty-five (365) days and each sight commercial letter of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrower; provided however, that no Letter of Credit shall have an expiration date subsequent to the maturity date of the Line of Credit. The undrawn amount of all Subfeature LCs Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC Letter of Credit shall be subject to the additional terms and conditions of Bank’s standard Standby the Letter of Credit agreement or Commercial Letter of Credit agreement as applicableagreements, and all applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (each, a “Subfeature LCsLetter of Credit” and collectively, “Letters of Credit”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs Letters of Credit shall not at any time exceed Two Four Million Dollars ($2,000,000.004,000,000.00). The form and substance of each Subfeature LC Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each standby letter No Letter of credit Credit shall be issued for a term not to exceed have an expiration date more than three hundred sixty sixty-five (365) days and each sight commercial letter beyond the maturity date of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrowerthe Line of Credit. The undrawn amount of all Subfeature LCs Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC Letter of Credit shall be subject to the additional terms and conditions of Bank’s standard Standby the Letter of Credit agreement or Commercial Letter of Credit agreement as applicableagreements, and all applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.

Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby and sight commercial letters of credit for the account of Borrower (each, a “Subfeature LCsLetter of Credit” and collectively, “Letters of Credit”); provided however, that the aggregate undrawn amount of all outstanding Subfeature LCs Letters of Credit shall not at any time exceed Two Five Million Dollars ($2,000,000.005,000,000.00). The form and substance of each Subfeature LC Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each standby letter No Letter of credit Credit shall be issued for a term not to exceed have an expiration date more than three hundred sixty five (365) days and each sight commercial letter beyond the maturity date of credit shall be issued for a term not to exceed ninety (90) days, as designated by Borrowerthe Line of Credit. The undrawn amount of all Subfeature LCs Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Subfeature LC Letter of Credit shall be subject to the additional terms and conditions of Bank’s standard Standby the Letter of Credit agreement or Commercial Letter of Credit agreement as applicableagreements, and all applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Subfeature LC Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing.