Common use of The Letter of Credit Sublimit Clause in Contracts

The Letter of Credit Sublimit. Subject to the terms and conditions set forth in this Agreement, until the Letter of Credit Expiration Date, Issuing Lender shall take such Letter of Credit Actions as Borrower may from time to time request; provided, however, that (i) the Outstanding Obligations of each Lender shall not at any time exceed such Lender’s Commitment; (ii) the Outstanding Obligations of all Lenders shall not at any time exceed the lesser of (x) the combined Commitments; and (y) the Availability Limit; and (iii) Letter of Credit Usage shall not at any time exceed the Letter of Credit Sublimit. Subject to subsection (g) below and unless consented to by Issuing Lender and Requisite Lenders, no Letter of Credit may expire more than 12 months after the date of its issuance or last renewal. No Letter of Credit shall expire after the Letter of Credit Expiration Date except that, at the option of Administrative Agent, Letters of Credit securing Borrower's obligations pursuant to workers' compensation claims may have an expiration date not to exceed six (6) months after the Letter of Credit Expiration Date provided that (A) the aggregate face amount of such Letters of Credit shall not exceed $2,000,000; and (B) from and after the Letter of Credit Expiration Date, the Letter of Credit Usage under such Letters of Credit shall be fully secured by cash collateral in an amount equal to such Letter of Credit Usage deposited in a Letter of Credit Cash Collateral Account.

The Letter of Credit Sublimit. Subject to the terms and conditions set forth in this Agreement, until the Letter of Credit Expiration Maturity Date, Issuing Lender shall take such Letter of Credit Actions under the Revolving Commitments as Borrower may from time to time request; provided, however, that (i) the aggregate outstanding -------- ------- Letter of Credit Usage shall not exceed the Letter of Credit Sublimit at any time and (ii) the Outstanding Obligations of each Lender shall not at any time exceed such Lender’s Commitment; (ii) 's Revolving Commitment and the Outstanding Obligations of all Lenders shall not exceed the combined Revolving Commitments at any time exceed the lesser of (x) the combined Commitments; and (y) the Availability Limit; and (iii) time. Each Letter of Credit Usage Action shall not at any time exceed the Letter of Credit Sublimitbe in a form acceptable to Issuing Lender. Subject to subsection (g) below and unless Unless consented to by the Issuing Lender and the Requisite Lenders, no Letter of Credit may expire more than 12 months after the date of its issuance or last renewal. No ; provided, however, that no Letter of Credit shall expire after the Letter of Credit Expiration Date except that, at the option of Administrative Agent, Letters of Credit securing Borrower's obligations pursuant to workers' compensation claims may have an expiration date not to exceed six (6) months after the Letter of Credit Expiration Date provided that (A) the aggregate face amount of such Letters of Credit shall not exceed $2,000,000; and (B) from and after the Letter of Credit Expiration Maturity -------- ------- Date, the . If any Letter of Credit Usage under such Letters of Credit remains outstanding after the Maturity Date, Borrower shall be fully secured by deposit cash collateral in an amount equal to such Letter of Credit Usage deposited in a Letter of Credit Cash Collateral AccountAccount not later than the Maturity Date.

The Letter of Credit Sublimit. Subject to the terms and conditions set forth in this Agreement, until the Letter of Credit Expiration Date, Issuing Lender Letter of Credit Issuer shall take such Letter of Credit Actions under the Commitments as Borrower may from time to time request; provided, however, provided that (i) the Outstanding Obligations of each Lender shall not at any time exceed such Lender’s Commitment; (ii) 's Commitment and the Outstanding Obligations of all Lenders shall not exceed the combined Commitments or the Borrowing Base at any time exceed the lesser of time, (xii) the combined Commitments; and (y) the Availability Limit; and (iii) aggregate outstanding Letter of Credit Usage shall not at any time exceed the Letter of Credit SublimitSublimit at any time, and (iii) all Letters of Credit shall be standby letters of credit. Each Letter of Credit Action shall be in a form acceptable to Letter of Credit Issuer and shall not violate any policies of Letter of Credit Issuer. Subject to subsection (gf) below and unless consented to by Issuing Lender the Letter of Credit Issuer and the Requisite Lenders, no Letter of Credit may expire more than 12 months 364 days after the date of its issuance or last renewal. No ; provided that no Letter of Credit shall expire after the Letter of Credit Expiration Date except that, at the option of Administrative Agent, Letters of Credit securing Borrower's obligations pursuant to workers' compensation claims may have an expiration date not to exceed six (6) months after the Date. If any Letter of Credit Expiration Date provided that (A) the aggregate face amount of such Letters of Credit shall not exceed $2,000,000; and (B) from and Usage remains outstanding after the Letter of Credit Expiration Date, Borrower shall, not later than the Letter of Credit Usage under such Letters of Credit shall be fully secured by Expiration Date, deposit cash collateral in an amount equal to such Letter of Credit Usage deposited in a Letter of Credit Cash Collateral Account.

The Letter of Credit Sublimit. Subject to the terms and conditions set forth in this Agreement, until the Letter of Credit Expiration Date, the Issuing Lender Bank shall take such Letter of Credit Actions as Borrower the Company may from time to time request; providedPROVIDED, howeverHOWEVER, that (i) the Outstanding Obligations of each Lender Bank (excluding its Bid Loans) shall not at any time exceed such Lender’s Bank's Commitment; (ii) , and the Outstanding Obligations of all Lenders Banks shall not exceed the combined Commitments at any time exceed the lesser of (x) the combined Commitments; time, and (y) the Availability Limit; and (iiiii) Letter of Credit Usage shall not at any time exceed the Letter of Credit SublimitSublimit at any time. Subject to subsection (g) SECTION 11.06 below and unless consented to by the Issuing Lender Bank and Requisite Lendersthe Majority Banks, no Letter of Credit may expire more than 12 months after the date of its issuance or last renewal. No ; PROVIDED, HOWEVER, that no Letter of Credit shall expire after the Letter of Credit Expiration Date except that, at the option of Administrative Agent, Letters of Credit securing Borrower's obligations pursuant to workers' compensation claims may have an expiration date not to exceed six (6) months after the Letter of Credit Expiration Date provided that (A) the aggregate face amount of such Letters of Credit shall not exceed $2,000,000; and (B) from and after the Letter of Credit Expiration Date, the . If any Letter of Credit Usage under remains outstanding after such Letters of Credit shall be fully secured by date, the Company shall, not later than such date, deposit cash collateral in an amount equal to such Letter of Credit Usage deposited in a Letter of Credit Cash Collateral Account. From and after the effective date of the Fifth Amendment to Credit Agreement dated as of September 20, 2000 among the Company, the Agent and the Banks, the Existing Letters of Credit shall be deemed to have been issued hereunder and shall be Letters of Credit for all purposes hereof.

The Letter of Credit Sublimit. Subject to the terms and conditions set forth in this Agreement, until the Letter of Credit Expiration Date, Issuing Lender Letter of Credit Issuer shall take such Letter of Credit Actions under the Commitments as Borrower may from time to time request; provided, however, PROVIDED that (i) the Outstanding Obligations of each Lender (excluding any outstanding Competitive Loans of such Lender) shall not at any time exceed such Lender’s Commitment; (ii) 's Commitment and the Outstanding Obligations of all Lenders shall not exceed the combined Commitments at any time exceed the lesser of time, and (xii) the combined Commitments; and (y) the Availability Limit; and (iii) aggregate outstanding Letter of Credit Usage shall not at any time exceed the Letter of Credit SublimitSublimit at any time. Each Letter of Credit Action shall be in a form acceptable to Letter of Credit Issuer and shall not violate any policies of Letter of Credit Issuer. Subject to subsection (gf) below and unless consented to by Issuing Lender the Letter of Credit Issuer and the Requisite Lenders, no Letter of Credit may expire more than 12 months after the date of its issuance or last renewal. No ; PROVIDED that no Letter of Credit shall expire after the Letter of Credit Expiration Date except that, at the option of Administrative Agent, Letters of Credit securing Borrower's obligations pursuant to workers' compensation claims may have an expiration date not to exceed six (6) months after the Date. If any Letter of Credit Expiration Date provided that (A) the aggregate face amount of such Letters of Credit shall not exceed $2,000,000; and (B) from and Usage remains outstanding after the Letter of Credit Expiration Date, Borrower shall, not later than the Letter of Credit Usage under such Letters of Credit shall be fully secured by Expiration Date, deposit cash collateral in an amount equal to such Letter of Credit Usage deposited in a Letter of Credit Cash Collateral Account.