L C Subfacility. Subject to Section 2.3.1, the Lender agrees to issue letters of credit, in each case containing such terms and conditions as are permitted by this Agreement and are reasonably satisfactory to the Lender (each, a “Letter of Credit”), at the request of the Borrower Representative and for the account of the Borrowers from time to time before the scheduled Termination Date; provided that (a) the aggregate Stated Amount of all Letters of Credit shall not at any time exceed $1,500,000, (b) Letters of Credit will be issued in Lender’s reasonable credit judgment in accordance with the terms and conditions hereof and of the other Loan Documents and (c) the Revolving Outstandings shall not at any time exceed Revolving Loan Availability.
L C Subfacility. (a) Subject to the terms and conditions of this Agreement and applicable Law, Agent agrees, in reliance upon the agreements of the other Lenders set out in this Section 2.3, to issue L/Cs denominated in U.S. Dollars under the Facility upon Borrower's delivery of an L/C Request and an L/C Agreement, each of which must be received by Agent no later than 1:00 p.m. on the third Business Day preceding the date on which the requested L/C is to be issued; provided that, Commitment Usage may not exceed the Total Commitment after giving effect to the issuance of such L/C. Each L/C (other than the Bond L/Cs) must expire no later than 13 months from its issuance; provided that any L/C (other than the Bond L/Cs) may, at Borrower's request, provide that it is self-extending upon its expiration date for successive periods of 6 to 12 months each (as selected by Borrower), unless Agent has given the beneficiary thereunder at least 30 days (but no more than 120 days) prior written notice to the contrary (provided, however, that such notice shall in no event be given by Agent unless (i) Agent is directed so to do by Borrower, (ii) a Default exists, or (iii) such extension would extend the expiration date beyond the Termination Date). Amounts drawn under the Bond L/Cs are subject to reinstatement upon the terms set forth therein. In no event may any L/C have an expiration date later than the Termination Date.
L C Subfacility. (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the other Lenders set forth in this
L C Subfacility
