Common use of Letter of Credit Facility Clause in Contracts

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (x) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (y) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Shares, Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' ’ written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (x) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (yC) the L/C Exposure would not exceed $500,0002,000,000 for Facility A and $2,000,000 for Facility B, other than with respect to required never exceeding $2,000,000 in the aggregate for Facility A and Facility B, and (iv) notwithstanding the above, Letters of Credit may be issued for Commodity Hedge Agreements and or Rate Management TransactionsTransactions at the sole discretion of the Agent up to an amount not to exceed $5,000,000 as evidenced by the Note shown on Exhibit 1(A). Any Letters of Credit issued under (iv) above shall be cross-collateralized and cross-defaulted with the other Obligations hereunder and if drawn shall be due on demand.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xB) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (yC) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions3,000,000.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower therefor and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to the Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xI) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the lesser of the Maximum Commitment AmountAmount or the Borrowing Base, or (yII) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions2,000,000.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xB) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (yC) the L/C Exposure would exceed $500,0003,000,000, other than with respect to required Commodity Hedge Agreements commodity and Rate Management Transactionsinterest rate xxxxxx.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Co-Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower or any Co-Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and/or any Co-Borrower therefor and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower or any Co-Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xI) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the lesser of the Maximum Commitment AmountAmount or the Borrowing Base, or (yII) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions5,000,000.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower therefor and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to the Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xI) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the lesser of the Maximum Commitment AmountAmount or the Borrowing Base, or (yII) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions2,000,000.

Letter of Credit Facility. (a) Upon receipt of duly executed applications therefor, and such other documents, instructions and agreements as the terms Issuing Lender may reasonably require, and conditions subject to the provisions of Section 2.1.2 and ------------------------- relying on the representations and warranties contained in this AgreementArticle IV, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to Issuing Lender shall issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit denominated in any Agreed Currency for the account of the Borrower and/or (or for the benefit of any Subsidiary account of the Borrower and to renew and extend such Letters any of Credit. Letters of Credit its Subsidiaries, provided that the Borrower's obligations hereunder with respect thereto shall be issuedseveral and not joint), renewed, or extended from time on terms as are satisfactory to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may requestIssuing Lender; provided, however, that no Letter of Credit will be issued for the account of the Borrower by the Issuing Lender if on the date of issuance, before or after taking such Letter of Credit into account, (i) the aggregate outstanding Dollar Amount of all of the Revolving Advances and L/C Obligations exceeds or would exceed the Aggregate Commitment, (ii) the aggregate outstanding Dollar Amount of all Advances and L/C Obligations in Agreed Currencies other than Dollars would exceed $100,000,000, or (iii) the aggregate outstanding Dollar Amount of the L/C Obligations exceeds or would exceed $10,000,000; and provided, further, that no Letter of Credit shall have be issued which has an expiration date which is more later than 365 days after the earlier of (i) one year from the date of issuance thereof or subsequent to Final Maturity, and (ii) each automatically renewable the date which is five (5) Business Days immediately preceding the Facility Termination Date. Each Letter of Credit may, upon the request of the Borrower, include a provision whereby such Letter of Credit shall provide be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that it may be terminated by is five Business Days prior to the Agent Facility Termination Date) unless the Issuing Lender notifies the beneficiary thereof at its then current least 30 days prior to the then- applicable expiry date by not less than 30 days' written notice by the Agent to the beneficiary of that such Letter of Credit, and (iii) the Agent shall Credit will not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (x) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (y) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactionsrenewed.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower therefor and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to the Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xI) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the lesser of the Maximum Commitment AmountAmount or the Borrowing Base, or (yII) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions5,000,000.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the LendersLender, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent Lender of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent Lender at its then current expiry date by not less than 30 days' written notice by the Agent Lender to the beneficiary of such Letter of Credit, and (iii) the Agent Lender shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xB) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (yC) the L/C Exposure would exceed $500,0002,000,000 and (iv) notwithstanding the above, other than with respect to required Letters of Credit may be issued for Commodity Hedge Agreements and or Rate Management TransactionsTransactions at the sole discretion of the Lender. Any Letters of Credit issued under (iv) above shall be cross-collateralized and cross-defaulted with the other Obligations hereunder.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (xB) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (yC) the L/C Exposure would exceed $500,0003,000,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactions.

Letter of Credit Facility. (a) Upon receipt of duly executed applications therefor, and such other documents, instructions and agreements as the terms Issuing Lender may reasonably require, and conditions subject to the provisions of Section 2.1 and ------------------------- relying on the representations and warranties contained in this AgreementArticle IV, the Agent, as issuing bank for the Lenders, agrees from the date Issuing Lender shall issue letters of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders credit denominated in their respective Percentage Shares Letters of Credit an Agreed Currency for the account of the Borrower and/or (or for the benefit of any Subsidiary account of the Borrower and to renew and extend such Letters any of Credit. Letters of Credit its Subsidiaries, provided that the Borrower's obligations hereunder with respect thereto shall be issuedseveral and not joint), renewed, or extended from time on terms as are satisfactory to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may requestIssuing Lender; provided, however, that no Letter of Credit will be issued for the account of Borrower by the Issuing Lender if on the date of issuance, before or after taking such Letter of Credit into account, (i) the aggregate amount of the Advances, the Swing Line Loans and the L/C Obligations at such time would exceed the Aggregate Commitment at such time or (ii) the aggregate outstanding amount of the L/C Obligations exceeds $30,000,000; and provided, further, that no Letter of Credit shall have be issued which has an expiration date later than the date which is more than 365 days after five (5) Business Days immediately preceding the issuance thereof or subsequent to Final MaturityTermination Date. Each Letter of Credit may, (ii) each automatically renewable upon the request of the Borrower, include a provision whereby such Letter of Credit shall provide be renewed automatically for additional consecutive periods of 12 months or less (but not beyond the date that it may be terminated by is five Business Days prior to the Agent Termination Date) unless the Issuing Lender notifies the beneficiary thereof at its then current least 30 days prior to the then-applicable expiry date by not less than 30 days' written notice by the Agent to the beneficiary of that such Letter of Credit, and (iii) the Agent shall Credit will not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (x) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment Amount, or (y) the L/C Exposure would exceed $500,000, other than with respect to required Commodity Hedge Agreements and Rate Management Transactionsrenewed.

Letter of Credit Facility. (a) Upon the terms and conditions and ------------------------- relying on the representations and warranties contained in this Agreement, the Agent, as issuing bank for the Lenders, agrees from the date of this Agreement until the date which is thirty days prior to the Commitment Termination Date, to issue following the receipt, not less than three Business Days prior to the requested date for issuance of the relevant Letter of Credit, on behalf of the Lenders in their respective Percentage Shares Shares, Letters of Credit for the account of the Borrower and/or the benefit of any Subsidiary of the Borrower and to renew and extend such Letters of Credit. Letters of Credit shall be issued, renewed, or extended from time to time on any Business Day designated by the Borrower following the receipt in accordance with the terms hereof by the Agent of the written (or oral, confirmed promptly in writing) request by a Responsible Officer of the Borrower and a Letter of Credit Application. Letters of Credit shall be issued in such amounts as the Borrower may request; provided, however, that (i) no Letter of Credit shall have an expiration date which is more than 365 days after the issuance thereof or subsequent to Final Maturity, (ii) each automatically renewable Letter of Credit shall provide that it may be terminated by the Agent at its then current expiry date by not less than 30 days' ’ written notice by the Agent to the beneficiary of such Letter of Credit, and (iii) the Agent shall not be obligated to issue any Letter of Credit if (A) the face amount thereof would exceed the then existing Available Commitment, or (B) after giving effect to the issuance thereof, (x) the L/C Exposure, when added to the Loan Balance then outstanding, would exceed the Commitment AmountBorrowing Base, or (yC) the L/C Exposure would exceed $500,0002,000,000, other than with respect to required and (iv) notwithstanding the above, Letters of Credit may be issued for Commodity Hedge Agreements and or Rate Management TransactionsTransactions at the sole discretion of the Agent up to an amount not to exceed $5,000,000 as evidenced by the Note shown on Exhibit I(A). Any Letters of Credit issued under (iv) above shall be cross-collateralized and cross-defaulted with the other Obligations hereunder and if drawn shall be due on demand.