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 standby letters of credit for the Borrower's account (such letters of credit being hereinafter referred to collectively as the Letters of Credit); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Fifteen Million Dollars ($15,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Commitments; and (iii) the Outstanding Revolving Credit applicable to a Lender shall not at any time exceed such Lender's Commitment. 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 Lender, and each other Lender shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such Lender's Commitment Percentage 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 standby issue, letters of credit for the a Borrower's account (such letters of credit being hereinafter referred to collectively as the "Letters of Credit"); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Fifteen Two Million Five Hundred Thousand Dollars ($15,000,0002,500,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate CommitmentsCommitments or (B) the Borrowing Base; and (iii) the Outstanding Revolving Credit applicable to a Lender Bank shall not at any time exceed such LenderBank's CommitmentCommitment (except with respect to the Agent as a Bank, as may otherwise result from the operation of 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 LenderBank, and each other Lender Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such LenderBank'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 issue, and the Agent, subject to the terms and conditions of this Agreement, shall issue standby issue, letters of credit for the Borrower's or one of its Subsidiaries' account (such letters of credit being hereinafter referred to collectively as the "Letters of Credit"); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Fifteen Two Million Dollars ($15,000,0002,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the lesser of (A) the aggregate CommitmentsRevolving Commitments or (B) the Borrowing Base; and (iii) the Outstanding Revolving Credit applicable to a Lender Bank shall not at any time exceed such LenderBank's Revolving Commitment. 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 LenderBank, and each other Lender Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such LenderBank's Commitment Percentage (calculated with respect to the Revolving Commitments only) in such Letter of Credit and the related Letter of Credit Liabilities.. (b)

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 standby issue, letters of credit for the Borrower's or one of the Subsidiaries' account (such letters of credit being hereinafter referred to collectively as the "Letters of Credit"); provided, however, (i) the aggregate amount of outstanding Letter of Credit Liabilities shall not at any time exceed Fifteen Five Million Dollars ($15,000,0005,000,000); (ii) the Outstanding Revolving Credit shall not at any time exceed the aggregate Revolving Commitments; and (iii) the Outstanding Revolving Credit applicable to a Lender Bank (including the Agent as a Bank) shall not at any time exceed such LenderBank's Revolving Commitment. 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 LenderBank, and each other Lender Bank shall be deemed, without further action by any party hereto, to have purchased from the Agent a participation to the extent of such LenderBank's Commitment Percentage in such Letter of Credit and the related Letter of Credit Liabilities.