Common use of Changes to Stated Amount Clause in Contracts

Changes to Stated Amount. At any time when any Letter of Credit is outstanding, at the request of the respective Account Party, the Issuing Agent will enter into an amendment increasing or reducing the Stated Amount of such Letter of Credit, provided that (i) in no event shall the Stated Amount of such Letter of Credit be increased (w) to an amount which would cause the Letter of Credit Outstandings to exceed the Total Commitment at such time, (x) to an amount which would cause the Foreign Currency Letter of Credit Outstandings to exceed $10,000,000 at such time, (y) to an amount which would cause the Letter of Credit Outstandings attributable to such Account Party to exceed the Borrowing Base of such Account Party at such time or (z) with respect to a Fronted Letter of Credit, without the prior written consent of the LC Issuer in respect of such Letter of Credit to an amount which would cause the Letter of Credit Outstandings in respect of all Fronted Letters of Credit issued by the applicable Fronting Lender to exceed the maximum aggregate Stated Amount of all Fronted Letters of Credit that such Fronting Lender has agreed to issue in a separate agreement with the Company, (ii) the Stated Amount of a Letter of Credit may not be increased at any time if the conditions precedent set forth in Section 4.02 are not satisfied at such time, and (iii) the Stated Amount of a Letter of Credit may not be increased at any time after the Commitment Expiration Date.

Changes to Stated Amount. At any time when any Letter of Credit is outstanding, at the request of the respective Account Party, the Issuing Agent will enter into an amendment increasing or reducing the Stated Amount of such Letter of Credit, provided that (i) in no event shall the Stated Amount of such Letter of Credit be increased (wx) to an amount which would cause the aggregate Credit Exposures of all Lenders taken together to exceed the Total Commitment at such time, (y) with respect to a Letter of Credit issued or otherwise outstanding at the request of, or for the account of, Pac Re, to an amount which would cause the Letter of Credit Outstandings to exceed the Total Commitment at such time, (x) to an amount which would cause the Foreign Currency Letter in respect of all Letters of Credit Outstandings issued or otherwise outstanding at the request of, or for the account of Pac Re to exceed $10,000,000 at such time100,000,000, (y) to an amount which would cause the Letter of Credit Outstandings attributable to such Account Party to exceed the Borrowing Base of such Account Party at such time or (z) with respect to a Fronted Letter of Credit, without the prior written consent of the LC Issuer in respect of such Letter of Credit to an amount which would cause the Letter of Credit Outstandings in respect of all Fronted Letters of Credit issued by the applicable Fronting Lender to exceed the maximum aggregate Stated Amount of all Fronted Letters of Credit that such Fronting Lender has agreed to issue in a separate agreement with the Company, (ii) the Stated Amount of a Letter of Credit may not be increased at any time if the conditions precedent set forth in Section 4.02 are not satisfied at such time, and (iii) the Stated Amount of a Letter of Credit may not be increased at any time after the Commitment Expiration Date.

Changes to Stated Amount. At any time when any Letter of Credit is outstanding, at the request of the respective Account Party, the Issuing Agent will enter into an amendment increasing or reducing the Stated Amount of such Letter of Credit, provided that (i) in no event shall the Stated Amount of such Letter of Credit be increased (wx) to an amount which would cause the Letter aggregate Credit Exposures of Credit Outstandings all Lenders taken together to exceed the Total Commitment at such time, (x) to an amount which would cause the Foreign Currency Letter of Credit Outstandings to exceed $10,000,000 at such time, (y) to an amount which would cause the Letter of Credit Outstandings attributable to such Account Party to exceed the Borrowing Base of such Account Party at such time or (z) with respect to a Fronted Letter of Credit, without the prior written consent of the LC Issuer in respect of such Letter of Credit to an amount which would cause the Letter of Credit Outstandings in respect of all Fronted Letters of Credit issued by the applicable Fronting Lender to exceed $10,000,000 or (z) to an amount which would cause the maximum aggregate Stated Amount Credit Exposure of all Fronted Letters of Credit that any Lender to exceed such Fronting Lender has agreed to issue in a separate agreement with the CompanyLender’s Commitment at such time, (ii) the Stated Amount of a Letter of Credit may not be increased at any time if the conditions precedent set forth in Section 4.02 are not satisfied at such time, time and (iii) the Stated Amount of a Letter of Credit may not be increased at any time after the Commitment Expiration Date.