Common use of The Letter of Credit Subfacility Clause in Contracts

The Letter of Credit Subfacility. On the terms and conditions set forth herein and from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, the Bank agrees (i) to issue Letters of Credit for the account of the Company, and to amend or renew Letters of Credit previously issued by it, in accordance with Sections 3.02(c) and 3.02(d) in an aggregate amount not to exceed the L/C Commitment, and (ii) to honor drafts under the Letters of Credit; provided that the Bank shall not be obligated to Issue any Letter of Credit if, as of the date of and after giving effect to the Issuance of such Letter of Credit (the "Issuance Date"), (A) the Effective Amount of all L/C Obligations exceeds (or would exceed) the L/C Commitment or (B) the Effective Amount of all L/C Obligations and Loans together exceeds (or would exceed) the Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed. The Bank is under no obligation to Issue any Letter of Credit if:

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein and from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, the Bank agrees (i) to issue Letters of Credit for the account of the Company, and to amend or renew Letters of Credit previously issued by it, in accordance with Sections 3.02(c) and 3.02(d) in an aggregate amount not to exceed the L/C Commitment, and (ii) to honor drafts under the Letters of Credit; provided that the Bank shall not be obligated to Issue any Letter of Credit if, as of the date of and after giving effect to the Issuance of such Letter of Credit (the "Issuance Date"), (A) the Effective Amount of all L/C Obligations exceeds (or would exceed) the L/C Commitment or (B) the Effective Amount of all L/C Obligations and Loans together exceeds (or would exceed) the Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed. The Bank is under no obligation to Issue any Letter of Credit if:.

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein and herein, the Bank agrees, (A) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, the Bank agrees (i) Expiry Date to issue Letters of Credit for the account of the CompanyBorrower, and to amend or renew Letters of Credit previously issued by it, in accordance with Sections 3.02(csubsections 4.02(c) and 3.02(d) in an aggregate amount not to exceed the L/C Commitment4.02(d), and (iiB) to honor drafts under the Letters of Credit; provided PROVIDED, that the Bank shall not be obligated to Issue issue any Letter of Credit if, if as of the date of and after giving effect to the Issuance issuance of such Letter of Credit (the "Issuance DateISSUANCE DATE"), ) (A1) the Effective Amount of all L/C Obligations plus the Effective Amount of all Revolving Loans exceeds (or would exceed) the L/C Commitment Revolving Commitment, or (B2) the Effective Amount of all L/C Obligations and Loans together exceeds (or would exceed) the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the CompanyBorrower's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed. (b) The Bank is under no obligation to Issue issue any Letter of Credit if:

The Letter of Credit Subfacility. (1) On the terms and conditions set forth herein and (i) each Issuing Bank agrees, (A) from time to time on any Business Day during the period from the Closing Date date hereof to the Revolving Termination Date, the Bank agrees (i) Date to issue Letters of Credit for the account of the Company, and to amend or renew Letters of Credit previously issued by it, in accordance with Sections subsections 3.02(c) and 3.02(d) in an aggregate amount not to exceed the L/C Commitment), and (iiB) to honor properly drawn drafts under the Letters of CreditCredit issued by it; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of the Company; provided that the no Issuing Bank shall not be obligated to Issue Issue, and no Bank shall be obligated to participate in, any Letter of Credit if, if as of the date of and after giving effect to the Issuance of such Letter of Credit (the "Issuance Date")) (1) the sum of the aggregate principal amount of all outstanding Loans plus the Effective Amount of all L/C Obligations exceed the combined Commitments, (A2) the Effective Amount of all L/C Obligations exceeds (or would exceed) exceed the L/C Commitment or (B3) the participation of any Bank in the Effective Amount of all L/C Obligations and plus the outstanding principal amount of the Loans together exceeds (or of such Bank would exceed) the exceed such Bank's Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the Company's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed. The Bank is under no obligation to Issue any Letter of Credit if:.

The Letter of Credit Subfacility. (a) On the terms and conditions set forth herein and the Bank agrees, (A) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, the Bank agrees (i) Date to issue Letters of Credit for the account of the CompanyBorrower, and to amend or renew Letters of Credit previously issued by it, in accordance with Sections 3.02(c) and 3.02(d) in an aggregate amount not to exceed the L/C Commitment(d), and (iiB) to honor drafts under the Letters of Credit; provided PROVIDED, that the Bank shall not be obligated to Issue any Letter of Credit if, if as of the date of and after giving effect to the Issuance of such Letter of Credit (the "Issuance DateISSUANCE DATE"), ) (A1) the Effective Amount of all L/C Obligations plus the Effective Amount of all Loans exceeds (or would exceed) the L/C Commitment or (B2) the Effective Amount of all L/C Obligations and Loans together exceeds (or would exceed) the L/C Commitment. Within the foregoing limits, and subject to the other terms and conditions hereof, the CompanyBorrower's ability to obtain Letters of Credit shall be fully revolving, and, accordingly, the Company Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed. The Bank is under no obligation to Issue any Letter of Credit if:.