Common use of Each Extension of Credit Clause in Contracts

Each Extension of Credit. As of the time of the making of each Loan and the issuance of each L/C hereunder (including the initial Loan or L/C, as the case may be): (a) each of the representations and warranties set forth in Section 5 hereof shall be and remain true and correct in all material respects as of said time as if made at said time, except that the representations and warranties made under Section 5.3 shall be deemed to refer to the most recent financial statements furnished to the Banks pursuant to Section 7.4 hereof; (b) the Company shall be in full compliance with all of the terms and conditions hereof, and no Potential Default or Event of Default shall have occurred and be continuing or would occur as a result of such extension of credit; (c) after giving effect to the requested extension of credit and to each Loan that has been made and L/C issued hereunder, the Bond L/C Exposure, the aggregate principal amount of all Loans, the amount available for drawing under all L/Cs and the aggregate principal amount of all Reimbursement Obligations then outstanding shall not exceed the lesser of (i) the sum of the Banks’ Revolving Credit Commitments then in effect plus the Bond L/C Exposure and (ii) the Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate, except as otherwise agreed by the Borrowers and all of the Banks; and (d) no change shall have occurred in the condition or operation of the Company or any Subsidiary since the date of the financial statements (quarterly or annual, as applicable) most recently provided by the Company to the Banks pursuant to Sections 7.4(a) or (b), as applicable, which, when considered in the aggregate, could reasonably be expected to have a material adverse effect on the business, operations, Property or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole; and the request by the Company for any Loan or L/C pursuant hereto shall be and constitute a warranty to the foregoing effects.

Each Extension of Credit. As of the time of the making of each Loan and the issuance of each L/C hereunder (including the initial Loan or L/C, as the case may be): (a) each of the representations and warranties set forth in Section 5 hereof shall be and remain true and correct in all material respects as of said time as if made at said time, except that (i) the representations and warranties made under Section 5.3 shall be deemed to refer to the most recent financial statements furnished to the Banks pursuant to Section 7.4 hereofhereof and (ii) with respect to the Company's Foreign Subsidiaries the representations and warranties made under Section 5.13(d) shall be deemed to refer only to material strikes, work stoppages, unfair labor practice claims or other material labor disputes; (b) the Company shall be in full compliance with all of the terms and conditions hereof, and no Potential Default or Event of Default shall have occurred and be continuing or would occur as a result of such extension of creditcontinuing; (c) after giving effect to the requested extension of credit and to each Loan that has been made and L/C issued hereunder, the Bond L/C Exposure, the aggregate principal amount of all Loans, the amount available for drawing under all L/Cs and the aggregate principal amount of all Reimbursement Obligations then outstanding shall not exceed the lesser of (i) the sum of the Banks’ ' Revolving Credit Commitments then in effect plus the Bond L/C Exposure and (ii) the Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate, except as otherwise agreed by the Borrowers Company and all of the Banks; and (d) no change shall have occurred in the condition or operation of the Company or any Subsidiary since the date of the financial statements (quarterly or annual, as applicable) most recently provided by the Company to the Banks pursuant to Sections 7.4(a) or (b), as applicable, which, when considered in the aggregate, could reasonably be expected to have a material adverse effect on the business, operations, Property or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole; and the request by the Company for any Loan or L/C pursuant hereto shall be and constitute a warranty to the foregoing effects.

Each Extension of Credit. As of the time of the making of each Loan and the issuance of each L/C hereunder (including the initial Loan or L/C, as the case may beLoan): (a) each of the representations and warranties set forth in Section 5 hereof shall be and remain true and correct in all material respects as of said time as if made at said time, except that the representations and warranties made under Section 5.3 5.2 shall be deemed to refer to the most recent financial statements furnished to the Banks pursuant to Section 7.4 hereof; (b) the Company Borrower shall be in full compliance with all of the terms and conditions hereof, and no Potential Default or Event of Default shall have occurred and be continuing or would occur as a result of such extension of creditcontinuing; (c) with respect to each Loan requested by the Borrower, the aggregate amount of the Total Outstandings shall not exceed the lesser of the Borrowing Base, as most recently computed, and the Revolving Credit Commitments then in effect; (d) immediately after giving effect thereto, not more than 25% of the value of the Borrower's and its Subsidiaries' assets that are subject to Sections 7.9 and 7.12 hereof shall constitute margin stock (as defined in Regulation U promulgated by the requested extension Board of credit and Governors of the Federal Reserve System); (e) with respect to each Swingline Loan that has been made and L/C issued hereunder, requested by the Bond L/C ExposureBorrower, the aggregate principal amount of all LoansSwingline Loans outstanding after giving effect to the requested Swingline Loans shall not exceed $15,000,000; and (f) with respect to each B Loan requested by the Borrower, the amount available for drawing under all L/Cs and the aggregate principal amount of all Reimbursement Obligations then B Loans outstanding after giving effect to the requested B Loan shall not exceed an amount equal to the lesser difference between (x) 15% of the Borrower's Consolidated Net Tangible Assets as shown on the calculation thereof in the form of Exhibit P attached hereto delivered to the Administrative Agent by the Borrower in connection with the request for such B Loan and (iy) the sum of the Banks’ Revolving Credit Commitments then in effect plus the Bond L/C Exposure and (ii) the Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate, except as otherwise agreed by the Borrowers and all of the Banks; and (d) no change shall have occurred in the condition or operation of the Company or any Subsidiary since the date of the financial statements (quarterly or annual, as applicable) most recently provided by the Company to the Banks pursuant to Sections 7.4(a) or (b), as applicable, which, when considered in the aggregate, could reasonably be expected to have a material adverse effect on the business, operations, Property or condition (financial or otherwise) of the Company and its Subsidiaries taken as a wholeB Loan Availability Reserve; and the request by the Company Borrower for any Loan or L/C pursuant hereto shall be and constitute a warranty to the foregoing effects.

Each Extension of Credit. As of the time of the making of each Loan and the issuance of each L/C hereunder (including the initial Loan or L/C, as the case may beLoan): (a) each of the representations and warranties set forth in Section 5 hereof shall be and remain true and correct in all material respects as of said time as if made at said time, except that the representations and warranties made under Section 5.3 5.2 shall be deemed to refer to the most recent financial statements furnished to the Banks pursuant to Section 7.4 hereof; (b) the Company Borrowers shall be in full compliance with all of the terms and conditions hereof, and no Potential Default or Event of Default shall have occurred and be continuing or would occur as a result of such extension of creditcontinuing; (c) after giving effect to the requested extension of credit and to each Revolving Credit Loan that has been made and L/C issued hereunder, the Bond L/C Exposure, the aggregate principal amount of all Loans, the amount available for drawing under all L/Cs and the aggregate principal amount of all Reimbursement Obligations Revolving Credit Loans then outstanding shall not exceed the lesser of (i) the sum of the Banks’ ' Revolving Credit Commitments then in effect plus the Bond L/C Exposure and or (ii) the Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate, except Certificate or as otherwise agreed determined by the Borrowers and all Agent upon an inspection of the BanksBorrowers' books and records; (d) after giving effect to the requested extension of credit and to each Revolving Credit Loan that has been made hereunder, the aggregate principal amount of all Revolving Credit Loans then outstanding to the Company shall not exceed the Company Borrowing Base as determined on the basis of the most recent Borrowing Base Certificate or as determined by the Agent upon an inspection of the Borrowers' books and records; and (de) no change after giving effect to the requested extension of credit and to each Revolving Credit Loan that has been made hereunder, the aggregate principal amount of all Revolving Credit Loans then outstanding to LSI shall have occurred in not exceed LSI's Borrowing Base as determined on the condition or operation basis of the Company most recent Borrowing Base Certificate or any Subsidiary since as determined by the date Agent upon an inspection of the financial statements (quarterly or annual, as applicable) most recently provided by the Company to the Banks pursuant to Sections 7.4(a) or (b), as applicable, which, when considered in the aggregate, could reasonably be expected to have a material adverse effect on the business, operations, Property or condition (financial or otherwise) of the Company Borrowers' books and its Subsidiaries taken as a wholerecords; and and the request by the Company Company, on behalf of itself or LSI, for any Loan or L/C pursuant hereto shall be and constitute a warranty to the foregoing effects.