Common use of Letters of Credit and Acceptances Clause in Contracts

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, Agent shall (a) issue or cause the issuance of standby and trade Letters of Credit ("Letters of Credit") on behalf of any Borrower, or (b) accept, or cause to be accepted Acceptances; provided, however, that Agent will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance of such Letters of Credit or acceptance of such Acceptances would then cause the sum of (i) the outstanding Revolving Advances plus (ii) the Maximum Undrawn Amount of outstanding Letters of Credit plus (iii) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount or (y) the Formula Amount. The Maximum Undrawn Amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 in the aggregate at any time. The maximum amount of outstanding Acceptances shall not exceed $15,000,000 in the aggregate at any time. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for Domestic Rate Loans; Letters of Credit that have not been drawn upon shall not bear interest. All letters of credit issued and outstanding under the Existing Credit Facility, as further described 23 on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.18.

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, the ACM Agent shall (a) issue or cause the issuance of standby and trade Letters of Credit ("Letters of Credit") on behalf of any Borrower, Newport or Koppel or (b) accept, or cause to be accepted accepted, draftx xx xehalf of any Borrower under such Letters of Credit ("Acceptances; "), provided, however, that the ACM Agent will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance face amount of such Letters of Credit or acceptance of such and Acceptances would then cause the sum of (i) the outstanding Revolving Advances Advances, plus (ii) the Maximum Undrawn Amount of outstanding Letters of Credit (with the requested Letter of Credit being deemed to be outstanding for purposes of this calculation), plus (iii) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount or (y) the Formula Amount; provided, further, however, that ACM Agent will hot be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the face amount of such Letters of Credit and Acceptances issued for such Borrower would then cause the sum of (i) the outstanding Revolving Advances to such Borrower plus (ii) the outstanding Letters of Credit issued or caused to be issued on behalf of such Borrower (with the requested Letter of Credit deemed to be outstanding for purposes of this calculation) plus (iii) outstanding Acceptances created or caused to be created for such Borrower to exceed the lesser of (x) such Borrower's Individual Maximum Revolving Advance Amount or (y) such Borrower's Individual Formula Amount (assuming that (c) of the definition of Individual Formula Amount is deemed to be $O). The Maximum Undrawn Amount maximum amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 30,000,000 for the benefit of Newport or $2,000,000 for the benefit of Koppel in the aggregate at any time. The maximum amount of all outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 30,000,000 in the aggregate Aggregate at any time. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for with respect to Domestic Rate Loans; Letters of Credit that have not been drawn upon and unmatured Acceptances shall not bear interest. All letters of credit issued and outstanding under the Existing Credit Facility, as further described 23 on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters of Credit issued and outstanding pursuant Acceptances shall be subject to this Agreement, including without limitation, Sections 2.9 through 2.18the terms and conditions set forth in the Letter of Credit and Security Agreement attached hereto as Exhibit 2.8. 2.9.

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, Agent shall (a) issue or cause the issuance of standby and trade documentary (trade) Letters of Credit ("Letters of Credit") on behalf of any Borrower, or (b) accept, or cause to be accepted Acceptances; provided, however, that Agent will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance face amount of such Letters of Credit or acceptance of such and Acceptances would then cause the sum of (i) the outstanding Revolving Advances plus (ii) the Maximum Undrawn Amount of outstanding Letters of Credit plus (iii) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount or (y) the Formula Amount. The Maximum Undrawn Amount maximum amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 in the aggregate at any time. The maximum amount of outstanding Acceptances shall not exceed $15,000,000 in the aggregate at any time. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for Domestic Rate Loans; Letters of Credit that have not been drawn upon shall not bear interest. All letters That certain Irrevocable Letter of credit Credit No. S247285NJY dated April 10, 2002, in the amount of $409,863.01 issued and outstanding under for the Existing Credit Facilitybenefit of J. P. Morgan Trust Company, National Association, as further described 23 on Schedule 2.9Trustee, shall from and after shalx xxxx xxx xfter the Closing Date be deemed to be Letters of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.182.9, 2.10, 2.11 and 3.2, and this Agreement shall amend and restate the provisions of that certain Reimbursement, Credit and Security Agreement dated as of April 1, 2002, between Foster and PNC with respect to such Letter of Credit."

Letters of Credit and Acceptances. (a) Subject to the terms and conditions hereof, Agent shall Issuing Lender agrees to issue letters of credit for the account of Borrower (aeach, an “L/C”) issue or cause to purchase participations or execute indemnities or reimbursement obligations (each such undertaking, an “L/C Undertaking”) with respect to letters of credit issued by an Underlying Issuer (as of the issuance Closing Date, the prospective Underlying Issuer is to be Agent) for the account of standby and trade Letters of Credit ("Letters of Credit") on behalf of any Borrower, Borrower or (b) accept, or cause to be accepted Acceptances; provided, however, that Agent Issuing Lender will not be required to issue or cause to be issued any Letters Letter of Credit or accept or cause to be accepted any Acceptances Acceptance to the extent that the issuance face amount of such Letters Letter of Credit or acceptance of such Acceptances Acceptance would then cause the sum of (i) the Adjusted Letter of Credit Usage to exceed the Borrowing Base less the amount of outstanding Revolving Advances plus Advances; (ii) the Maximum Undrawn Amount aggregate of outstanding Letters of Credit plus (iii) outstanding Acceptances to exceed the lesser of $5,000,000; or (xiii) the Maximum Revolving Advance Amount or (y) the Formula Amount. The Maximum Undrawn Amount of outstanding Letters Letter of Credit and Acceptances shall not Usage to exceed $15,000,000 in the aggregate at any time. The maximum Maximum Revolver Amount less the total amount of outstanding Acceptances shall not exceed $15,000,000 in the aggregate at any timeAdvances then outstanding. All disbursements or payments related to Letters of Credit (unless immediately reimbursed) and Acceptances (unless paid on o r before the last day of the term thereof) shall be deemed to be Domestic Base Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for Domestic Rate Loansrate set forth in Section 2.6; Letters of Credit that have not been drawn upon and Acceptances that have not matured shall not bear interest. All letters of credit issued and outstanding under the Existing Credit Facility, as further described 23 on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.18.

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, Agent Lender shall (a) issue or cause the issuance of standby and trade Letters of Credit ("Letters of Credit") on behalf of any Borrower, or (b) accept, or cause to be accepted accepted, drafts for any Borrower under such Letters of Credit or drafts unrelated to drafts under Letters of Credit ("Acceptances"); providedPROVIDED, howeverHOWEVER, that Agent Lender will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance face amount of such Letters of Credit or acceptance of such and Acceptances would then cause the sum of (i) the outstanding Revolving Advances plus PLUS (ii) the Maximum Undrawn Amount of outstanding Letters of Credit plus (with the requested Letter of Credit being deemed to be outstanding for purposes of this calculation) PLUS (iii) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount or (y) the Formula Amount. The Maximum Undrawn Amount maximum amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 in the aggregate at any time. The maximum amount of outstanding Acceptances shall not exceed $15,000,000 in sixty (60%) percent of the aggregate at any timeamount of Revolving Advances (minus the amount outstanding under clause (iii) of Section 2.1(a)(y) hereof) outstanding. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Advance Rate for Domestic Rate Loans; Letters of Credit that have not been drawn upon and unmatured Acceptances shall not bear interest. All letters The amount that Lender shall make available with respect to Acceptances shall be the face amount of credit issued and outstanding under the Existing Credit Facility, as further described 23 applicable draft less a discount calculated at Lender's banker's acceptance rate in effect on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters date of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.18such discount.

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, Agent Lender shall (a) issue or cause the issuance of standby and trade Letters of Credit ("Letters of Credit") on behalf of any Borrower, or (b) accept, or cause to be accepted accepted, drafts for Borrower under such Letters of Credit or drafts unrelated to drafts under Letters of Credit ("Acceptances"); provided, however, that Agent Lender will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance face amount of such Letters of Credit or acceptance of such and Acceptances would then cause the sum of (i) the outstanding Revolving Advances plus (ii) the Maximum Undrawn Amount of outstanding Letters of Credit (with the requested Letter of Credit being deemed to be outstanding for purposes of this calculation) plus (iii) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount or (y) the Formula Amount. The Maximum Undrawn Amount maximum amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 in the aggregate at any time. The maximum amount of outstanding Acceptances shall not exceed $15,000,000 in sixty (60%) percent of the aggregate at any timeamount of Revolving Advances (minus the amount outstanding under clause (iii) of Section 2.1(a)(y) hereof) outstanding. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Advance Rate for Domestic Rate Loans; Letters of Credit that have not been drawn upon and unmatured Acceptances shall not bear interest. All letters The amount that Lender shall make available with respect to Acceptances shall be the face amount of credit issued and outstanding under the Existing Credit Facility, as further described 23 applicable draft less a discount calculated at Lender's banker's acceptance rate in effect on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters date of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.18such discount.

Letters of Credit and Acceptances. Subject to the terms and conditions hereof, Agent shall (a) issue or cause the issuance of standby and and/or trade Letters letters of Credit credit (such letters of credit, the "Letters of Credit") on behalf for the account of any Borrower, Borrower or (b) accept, accept or cause to be accepted Acceptances; provided, however, that Agent will not be required to issue or cause to be issued any Letters of Credit or accept or cause to be accepted any Acceptances to the extent that the issuance of such Letters of Credit or acceptance of such Acceptances thereof would then cause the sum of (i) the outstanding Revolving Advances plus (ii) the Maximum Undrawn Amount of outstanding Letters of Credit plus (iii) the outstanding Swing Loans plus (iv) outstanding Acceptances to exceed the lesser of (x) the Maximum Revolving Advance Amount less the Carve‑Out Reserve or (y) the Formula AmountAmount (without giving effect to clause (iv) of the definition thereof). The Maximum Undrawn Amount of outstanding Letters of Credit and Acceptances shall not exceed $15,000,000 in plus the aggregate at any time. The maximum amount of outstanding Acceptances shall not exceed $15,000,000 in the aggregate at any timetime the Letter of Credit Sublimit. All disbursements or payments related to Letters of Credit and Acceptances shall be deemed to be Domestic Eurodollar Rate Loans consisting of Revolving Advances and shall bear interest at the Revolving Interest Rate for Domestic Eurodollar Rate Loans; Letters of Credit that have not been drawn upon shall not bear interest. All letters of credit issued and outstanding under the Existing Credit Facility, as further described 23 on Schedule 2.9, shall from and after the Closing Date be deemed to be Letters of Credit issued and outstanding pursuant to this Agreement, including without limitation, Sections 2.9 through 2.18.