Common use of Commitment to Issue Clause in Contracts

Commitment to Issue. The Borrower may utilize the Commitments by requesting that the Agent issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue, letters of credit for Borrower's or one of the Subsidiaries' account (such letters of credit being hereinafter referred to as the "Letters of Credit"); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Five Million Dollars ($5,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate Commitments or (B) the Borrowing Base; and (iii) the Outstanding Revolving Credit applicable to a Bank shall not at any time exceed such Bank's Commitment (except with respect to the Agent as a Bank, as may otherwise result from the operation of Section 4.6). Upon the date of issue of a Letter of Credit, the Agent shall be deemed, without further action by any party hereto, to have sold to each other Bank, and each other Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Bank's Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities.

Commitment to Issue. The Borrower may utilize the Revolving Commitments ------------------- by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue, standby and commercial letters of credit for Borrower's or one of the Subsidiaries' account (such letters of credit being hereinafter referred to as the "Letters of Credit", which may be for ----------------- the benefit of a Subsidiary of Borrower); provided, however, (i) the -------- ------- aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Five Fifteen Million Dollars ($5,000,00015,000,000); , (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate Commitments or (B) the Borrowing Base; maximum amount prescribed by Section 2.1, and (iii) the Outstanding Revolving Credit applicable to a Bank ----------- any Lender shall not at any time exceed such Bank's Commitment (except with respect to the Agent as maximum amount for a Bank, as may otherwise result from the operation of Lender prescribed by Section 4.6)2.1. Upon the date of issue of a Letter of Credit, the ----------- Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other BankLender who holds a Revolving Commitment, and each other Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such BankLender's Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities.

Commitment to Issue. The Borrower may utilize the Revolving ------------------- Commitments by requesting that the Agent Fronting Bank issue, and the AgentFronting Bank, subject to the terms and conditions of this Agreement, shall issue, standby and commercial letters of credit for Borrower's or one of the Subsidiaries' account (such letters of credit being hereinafter referred to as the "Letters of Credit", ----------------- which may be for the benefit of a Subsidiary of Borrower); provided, -------- however, (i) the aggregate amount of outstanding Letter of Credit ------- Liabilities shall not at any time exceed Five Fifteen Million Dollars ($5,000,00015,000,000); , (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate Commitments or (B) the Borrowing Base; maximum amount prescribed by Section 2.1, and (iii) the ----------- Outstanding Revolving Credit applicable to a Bank any Lender shall not at any time exceed such Bank's Commitment (except with respect to the Agent as maximum amount for a Bank, as may otherwise result from the operation of Lender prescribed by Section 4.6)2.1. Upon the ----------- date of issue of a Letter of Credit, the Administrative Agent shall be deemed, without further action by any party hereto, to have sold to each other BankLender who holds a Revolving Commitment, and each other Bank such Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent Administrative Agent, a participation to the extent of such BankLender's Commitment Percentage (calculated with respect to the Revolving Commitments) in such Letter of Credit and the related Letter of Credit Liabilities.

Commitment to Issue. The Borrower may utilize the Revolving ------------------- Commitments by requesting that the Agent issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue, letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit, together with any letters of credit that were issued under the terms of Section 2.7 of the Prior Agreement and are outstanding on the Closing Date, being hereinafter referred to as the "Letters of Credit"); ----------------- provided, however, : (i) the aggregate amount of outstanding Letter of Credit -------- ------- Liabilities shall not at any time exceed Five Million Dollars ($5,000,000)2,500,000; (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of the then- existing Borrowing Base (Abased on the most recently delivered Monthly Compliance Report) or the aggregate Commitments or (B) the Borrowing BaseRevolving Commitments; and (iii) the Outstanding Revolving Credit applicable to a Bank shall not at any time exceed such Bank's Commitment Revolving Commitment; (except with respect iv) the outstanding amount of the Total Debt shall at no time exceed the Maximum Total Debt; and (v) during each Clean Down Period, the Outstanding Revolving Credit shall not exceed an aggregate amount equal to the Agent as a Bank, as may otherwise result from the operation of Section 4.6)$3,500,000. Upon the date of issue of a Letter of Credit, the Agent shall be deemed, without further action by any party hereto, to have sold to each other Bank, and each other Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Bank's Commitment Percentage of the Revolving Commitments in such Letter of Credit and the related Letter of Credit Liabilities.

Commitment to Issue. The Borrower Borrowers may utilize the Commitments by requesting that the Agent issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue, letters of credit for a Borrower's or one of the Subsidiaries' account (such letters of credit being hereinafter referred to as the "Letters of CreditLETTERS OF CREDIT"); providedPROVIDED, howeverHOWEVER, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Two Million Five Million Hundred Thousand Dollars ($5,000,0002,500,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate Commitments or (B) the Borrowing Base; and (iii) the Outstanding Revolving Credit applicable to a Bank shall not at any time exceed such Bank's Commitment (except with respect to the Agent as a Bank, as may otherwise result from the operation of Section SECTION 4.6); and (iv) the Outstanding Revolving Credit applicable to a Borrower shall at no time exceed such Borrower's Borrowing Base. Upon the date of issue of a Letter of Credit, the Agent shall be deemed, without further action by any party hereto, to have sold to each other Bank, and each other Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Bank's Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities.