Common use of Procedure for Obtaining Letters of Credit Clause in Contracts

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the Banks' commitment above in Section 2.4 shall be designated by Borrowers' written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two Million Dollars ($2,000,000.00) or (B) the amount thereof when added to the Total Outstandings would exceed the Available Commitment. Borrowers agree to pay the Agent for the benefit of the Banks the following commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee in an amount equal to the greater of: (i) one percent (1%) per annum on the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers further agree to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the Banks' commitment above in Section 2.4 shall be designated by Borrowers' written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two Million Dollars ($2,000,000.00) or (B) the amount thereof when added to the Total Outstandings Revolving Loans outstanding would exceed the Available Commitment. Borrowers agree to pay the Agent for the benefit of the Banks the following commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee in an amount equal to the greater of: (i) one percent (1%) per annum on the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers further agree to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of CreditCredit due and payable at the time the Letter of Credit is issued. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the Banks' commitment above in Section 2.4 2(c) shall be designated by Borrowers' Borrower's written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers Borrower shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all the outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two One Million Dollars ($2,000,000.001,000,000.00) or (B) the amount thereof when added to the Total Outstandings would exceed the Available Revolving Commitment. Borrowers agree Borrower agrees to pay the Agent for the benefit of the Banks the following commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee ) in an amount equal to the greater of: of (i) one percent (1%) per annum on the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers Borrower further agree agrees to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the BanksLenders' commitment commitments above in Section 2.4 2(c) shall be designated by Borrowers' Borrower's written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers Borrower shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all the outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two One Million Dollars ($2,000,000.00) 1,000,000 or (B) the amount thereof when added to the Total Outstandings would exceed the Available Commitment. Borrowers agree Borrower agrees to pay the Agent for the benefit of the Banks the following Lenders commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee ) in an amount equal to the greater of: of (i) one percent (1%) per annum on the then effective Eurodollar Margin times the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00500. Borrowers Borrower further agree agrees to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of ----------------------------------------- issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the Banks' commitment above in Section 2.4 2(c) shall be designated by Borrowers' written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all the outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two One Million Dollars ($2,000,000.001,000,000.00) or (B) the amount thereof when added to the Total Outstandings would exceed the Available Revolving Commitment. Borrowers agree to pay the Agent for the benefit of the Banks the following commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee ) in an amount equal to the greater of: of (i) one percent (1%) per annum on the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers further agree to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time400.00. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the Banks' commitment above in Section 2.4 2(c) shall be designated by Borrowers' written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two Twenty-Five Million Dollars ($2,000,000.0025,000,000.00) or (B) the amount thereof when added to the Total Outstandings would exceed the Available Revolving Commitment. Borrowers agree to pay the Agent for the benefit of the Banks the following commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee ) in an amount equal to the greater of: of (i) one percent (1%) per annum on the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers further agree to pay Agent an additional fronting fee equal to one-eighth of one percent (.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.

Procedure for Obtaining Letters of Credit. The amount and date of issuance, renewal, extension or reissuance of a Letter of Credit pursuant to the BanksLenders' commitment commitments above in Section 2.4 2(c) shall be designated by Borrowers' written request delivered to Agent at least three (3) Business Days prior to the date of such issuance, renewal, extension or reissuance. Concurrently with or promptly following the delivery of the request for a Letter of Credit, Borrowers shall execute and deliver to the Agent an application and agreement with respect to the Letters of Credit, said application and agreement to be in the form used by the Agent. The Agent shall not be obligated to issue, renew, extend or reissue such Letters of Credit if (A) the amount thereon when added to the face amount of all the outstanding Letters of Credit plus any Reimbursement Obligations exceeds Two Five Million Dollars ($2,000,000.005,000,000) or (B) the amount thereof when added to the Total Outstandings would exceed the Available Commitment. Borrowers agree to pay the Agent for the benefit of the Banks the following Lenders commissions and fees for issuing the Letters of Credit (calculated separately for each Letter of Credit): a fee ) in an amount equal to the greater of: of (i) one percent (1%) per annum on the LIBOR Margin then in effect times the maximum face amount of the Letter of Credit due quarterly in arrears computed on a basis of a year containing 360 days or (ii) $500.00. Borrowers further agree to pay Agent an additional fronting fee equal to one-eighth of one percent (.1250.125%) per annum on the maximum face amount of each Letter of Credit. Borrowers hereby agree to pay such other amounts as are customary for letter of credit as are published by Agent from time to time. Such commissions shall be payable prior to the issuance of each Letter of Credit and thereafter on each anniversary date of such issuance while such Letter of Credit is outstanding.