Common use of Tranche A Commitment Clause in Contracts

Tranche A Commitment. Upon and subject to the terms and conditions hereof, (i) the Fronting Bank hereby agrees to issue Tranche A Letters of Credit at the request of and for the account of Max Re from time to time before the Tranche A Commitment Termination Date, (ii) each Issuer hereby agrees to issue Letters of Credit at the request of and for the account of Max Re from time to time before the Tranche A Commitment Termination Date in such Issuer’s Percentage of such aggregate stated amounts of Tranche A Letters of Credit as Max Re may from time to time request, (iii) each Lender hereby agrees to purchase Risk Participations in the obligations of the Fronting Bank under Tranche A Letters of Credit Issued by the Fronting Bank, and (iv) with respect to Letters of Credit Issued by the Issuers severally based on their respective Percentages, the Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Percentage plus each Participating Bank’s Percentage and each Participating Bank hereby agrees to purchase Risk Participations in the obligations of the Fronting Bank under any such Tranche A Letter of Credit in an amount equal to such Participating Bank’s Percentage; provided that no Issuer shall be obligated to issue (and no Participating Bank shall be obligated to participate in) any Tranche A Letter of Credit if as of the date of issuance of such Tranche A Letter of Credit (A) the Tranche A Obligations outstanding shall exceed the lesser of (x) the combined Tranche A Commitments and (y) the Tranche A Borrowing Base, (B) the Tranche A Obligations of any Lender would exceed such Lender’s Tranche A Commitment, or (C) the conditions in Section 2.3(b) are not met.

Tranche A Commitment. Upon and subject to the terms and conditions hereof, (i) the each Fronting Bank (subject to the definition thereof) hereby agrees to issue Tranche A Fronted Letters of Credit in Dollars or an Alternative Currency at the request of and for the account of Max Re each Designated Subsidiary Borrower from time to time before during the Tranche A Commitment Termination DateAvailability Period, (ii) each Issuer Tranche A Lender that is not a Participating Bank hereby agrees to issue Tranche A Several Letters of Credit in Dollars at the request of and for the account of Max Re each Designated Subsidiary Borrower from time to time before during the Tranche A Commitment Termination Date Availability Period in such IssuerLender’s Applicable Percentage of such aggregate stated amounts of Tranche A Letters of Credit as Max Re such Designated Subsidiary Borrower may from time to time request, (iii) each Tranche A Lender hereby agrees to purchase Risk Participations risk participations in the obligations of the issuing Fronting Bank under Tranche A Fronted Letters of Credit Issued by the Fronting Bankin an amount equal of such Tranche A Lender’s Applicable Percentage of such obligations, and (iv) with respect to Tranche A Several Letters of Credit Issued by the Issuers severally based on their respective PercentagesCredit, the applicable Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Applicable Percentage plus each Participating Bank’s Applicable Percentage of the amount of such Several Letter of Credit and each Participating Bank hereby agrees to purchase Risk Participations risk participations in the obligations of the such Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Percentage; provided that no Issuer shall be obligated to issue (and no Participating Bank shall be obligated to participate in) any Tranche A Letter of Credit if as of the date of issuance Applicable Percentage of such Tranche A Letter of obligations; provided, however, that after giving effect to any Credit Extension pursuant to this Section 2.01(a), (A) the Tranche A L/C Obligations outstanding shall not exceed the lesser of (x) the combined Tranche A Commitments and (y) the Tranche A Borrowing BaseCommitments, (B) the Tranche A L/C Obligations of any Designated Subsidiary Borrower shall not exceed such Designated Subsidiary Borrower’s Borrowing Base, (C) the Tranche A L/C Obligations of any Tranche A Lender would will not exceed such Lender’s Tranche A Commitment, or Commitment and (CD) the conditions in Section 2.3(b) are total outstanding stated amount of Fronted Letters of Credit shall not metexceed the Fronted Letter of Credit Sublimit.

Tranche A Commitment. Upon and subject to the terms and conditions hereof, (i) the each Fronting Bank (subject to the definition thereof) hereby agrees to issue Tranche A Fronted Letters of Credit in Dollars or an Alternative Currency at the request of and for the account of Max Re each Tranche A Designated Subsidiary Borrower from time to time before during the Tranche A Commitment Termination DateAvailability Period, (ii) each Issuer Tranche A Lender that is not a Participating Bank hereby agrees to issue Tranche A Several Letters of Credit in Dollars at the request of and for the account of Max Re each Tranche A Designated Subsidiary Borrower from time to time before during the Tranche A Commitment Termination Date Availability Period in such IssuerLender’s Applicable Percentage of such aggregate stated amounts of as such Tranche A Letters of Credit as Max Re Designated Subsidiary Borrower may from time to time request, (iii) each Tranche A Lender hereby agrees to purchase Risk Participations risk participations in the obligations of the issuing Fronting Bank under Tranche A Fronted Letters of Credit Issued by the Fronting Bankin an amount equal of such Tranche A Lender’s Applicable Percentage of such obligations, and (iv) with respect to Tranche A Several Letters of Credit Issued by the Issuers severally based on their respective PercentagesCredit, the applicable Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Applicable Percentage plus each Participating Bank’s Applicable Percentage of the amount of such Several Letter of Credit and each Participating Bank hereby agrees to purchase Risk Participations risk participations in the obligations of the such Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Percentage; provided that no Issuer shall be obligated to issue (and no Participating Bank shall be obligated to participate in) any Tranche A Letter of Credit if as of the date of issuance Applicable Percentage of such Tranche A Letter of obligations; provided, however, that after giving effect to any Credit Extension pursuant to this Section 2.01(a), (A) the Outstanding Amount of Tranche A L/C Obligations outstanding shall not exceed the lesser of (x) the combined Tranche A Commitments and (y) the Tranche A Borrowing BaseCommitments, (B) the Outstanding Amount of Tranche A L/C Obligations of any Tranche A Designated Subsidiary Borrower shall not exceed such Tranche A Designated Subsidiary Borrower’s Borrowing Base, (C) the Outstanding Amount of Tranche A L/C Obligations of any Tranche A Lender would will not exceed such Lender’s Tranche A Commitment, or Commitment and (CD) the conditions in Section 2.3(b) are total outstanding stated amount of Fronted Letters of Credit shall not metexceed the Fronted Letter of Credit Sublimit.

Tranche A Commitment. Upon On and subject to the terms and conditions hereofof this Reimbursement and Pledge Agreement, (ia) the Fronting Bank hereby agrees to issue Tranche A Letters of Credit at the request of issue, extend and renew for the account of Max Re the Borrower one or more standby letters of credit (a “Tranche A Letter of Credit”) from time to time before the Tranche A Commitment Termination Date, (iib) each Issuer Tranche A Lender hereby agrees to issue severally, and for itself alone, Tranche A Several Letters of Credit at the request of and for the account of Max Re the Borrower from time to time before the Tranche A Commitment Termination Date in such IssuerLender’s Tranche A Commitment Percentage of such aggregate stated amounts of Tranche A Several Letters of Credit as Max Re may from time to time requestCredit, (iiic) each Lender hereby agrees to purchase Risk Letter of Credit Participations in the obligations of the Fronting Bank under Tranche A Letters of Credit Issued by the Fronting Bankthat are Fronted Letters of Credit as more fully set forth in §2.2, and (ivd) with respect to Tranche A Several Letters of Credit Issued by the Issuers severally based on their respective PercentagesCredit, the Fronting Bank hereby agrees that it shall be severally (and not jointly) liable for an amount equal to its Tranche A Commitment Percentage plus each Participating Bank’s Tranche A Commitment Percentage and each Participating Bank hereby agrees to purchase Risk Letter of Credit Participations in the obligations of the Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Tranche A Commitment Percentage; provided however, that no Issuer shall be obligated after giving effect to issue (and no Participating Bank shall be obligated any Credit Extension pursuant to participate in) any Tranche A Letter of Credit if as of the date of issuance of such Tranche A Letter of Credit (A) the Tranche A Obligations outstanding shall exceed the lesser of this §2.1.1, (x) the combined Tranche A Commitments and sum of the Total Outstandings shall not exceed the Total Commitment, (y) the Tranche A Borrowing Base, (B) sum of the Tranche A Obligations of any Lender would Outstanding Amount shall not exceed such Lender’s the Total Tranche A Commitment, or Commitment and (Cz) the conditions in Section 2.3(b) are Total Outstandings shall not metexceed the Collateral Coverage Amount. The Borrower, the Fronting Bank and the Tranche A Lenders agree that the Existing Letters of Credit listed on Schedule 2.1.1 shall be Tranche A Letters of Credit hereunder.

Tranche A Commitment. Upon and subject to the terms and conditions hereof, (i) the Fronting Bank hereby agrees to issue Tranche A Fronted Letters of Credit at the request of and for the account of Max Re Bermuda or any of its Insurance Subsidiaries from time to time before the Tranche A Commitment Termination Date, (ii) each Issuer Lender that is not a Participating Bank hereby agrees to issue Tranche A Several Letters of Credit at the request of and for the account of Max Re Bermuda or any of its Insurance Subsidiaries from time to time before the Tranche A Commitment Termination Date in such IssuerLender’s Percentage of such aggregate stated amounts of Tranche A Letters of Credit as Max Re Bermuda may from time to time request, (iii) each Lender hereby agrees to purchase Risk Participations in the obligations of the Fronting Bank under Tranche A Fronted Letters of Credit Issued by the Fronting BankCredit, and (iv) with respect to Tranche A Several Letters of Credit Issued by the Issuers severally based on their respective PercentagesCredit, the Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Percentage plus each Participating Bank’s Percentage and each Participating Bank hereby agrees to purchase Risk Participations in the obligations of the Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Percentage; provided provided, however, that no Issuer shall be obligated after giving effect to issue (and no Participating Bank shall be obligated any Credit Extension pursuant to participate in) any Tranche A Letter of Credit if as of the date of issuance of such Tranche A Letter of Credit this Section 2.1(a), (A) the Tranche A Obligations outstanding shall not exceed the lesser of (x) the combined Tranche A Commitments and (y) the Tranche A Borrowing Base, (B) the Tranche A Obligations of any Lender would will not exceed such Lender’s Tranche A Commitment, or and (C) the conditions in Section 2.3(b) are not shall be met.

Tranche A Commitment. Upon and subject to the terms and conditions hereof, (i) the each Fronting Bank (subject to the definition thereof) hereby agrees to issue Tranche A Fronted Letters of Credit in Dollars or an Alternative Currency at the request of and for the account of Max Re each Designated Subsidiary Borrower from time to time before during the Availability Period (it being agreed that JPMorgan Chase Bank shall not be required to extend or increase any Existing Letter of Credit which is a Tranche A Commitment Termination DateLetter of Credit), (ii) each Issuer Tranche A Lender that is not a Participating Bank hereby agrees to issue Tranche A Several Letters of Credit in Dollars at the request of and for the account of Max Re each Designated Subsidiary Borrower from time to time before during the Tranche A Commitment Termination Date Availability Period in such IssuerLender’s Applicable Percentage of such aggregate stated amounts of Tranche A Letters of Credit as Max Re such Designated Subsidiary Borrower may from time to time request, (iii) each Tranche A Lender hereby agrees to purchase Risk Participations risk participations in the obligations of the issuing Fronting Bank under Tranche A Fronted Letters of Credit Issued by the Fronting Bankin an amount equal of such Tranche A Lender’s Applicable Percentage of such obligations, and (iv) with respect to Tranche A Several Letters of Credit Issued by the Issuers severally based on their respective PercentagesCredit, the applicable Fronting Bank shall be severally (and not jointly) liable for an amount equal to its Applicable Percentage plus each Participating Bank’s Applicable Percentage of the amount of such Several Letter of Credit and each Participating Bank hereby agrees to purchase Risk Participations risk participations in the obligations of the such Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Percentage; provided that no Issuer shall be obligated to issue (and no Participating Bank shall be obligated to participate in) any Tranche A Letter of Credit if as of the date of issuance Applicable Percentage of such Tranche A Letter of obligations; provided, however, that after giving effect to any Credit Extension pursuant to this Section 2.01(a), (A) the Tranche A L/C Obligations outstanding shall not exceed the lesser of (x) the combined Tranche A Commitments and (y) the Tranche A Borrowing BaseCommitments, (B) the Tranche A L/C Obligations of any Designated Subsidiary Borrower shall not exceed such Designated Subsidiary Borrower’s Borrowing Base, and (C) the Tranche A L/C Obligations of any Tranche A Lender would will not exceed such Lender’s Tranche A Commitment, or (C) the conditions in Section 2.3(b) are not met.