LC Exposure. If any LC Exposure exists at the time such Lender becomes a Defaulting Lender then:
LC Exposure. In the case of a Bank’s obligation to participate in Letters of Credit, as contemplated by Section 2.3(f) hereof, a fraction (a) the numerator of which is the amount of such Bank’s Letter of Credit Commitment on such date, and (b) the denominator of which is the aggregate amount of all Banks’ Letter of Credit Commitments on such date.
LC Exposure. No Letter of Credit shall be issued, amended, renewed or extended unless (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure in respect of all Letters of Credit issued by the Issuing Banks does not exceed the aggregate of all Letter of Credit Commitments at such time, (ii) the LC Exposure in respect of all Letters of Credit issued by any Issuing Bank does not exceed the Letter of Credit Commitment of such Issuing Bank at such time, and (iii) the sum of the total Credit Exposures shall not exceed the Aggregate Commitments. In addition, no Issuing Bank shall be under any obligation to issue any Letter of Credit if any law or regulation applicable to such Issuing Bank shall prohibit the issuance of such Letter of Credit. No Issuing Bank shall be under any obligation to amend or extend any Letter of Credit if such Issuing Bank would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof.
LC Exposure. If any LC Exposure exists at the time such Bank becomes a Defaulting Bank then:
LC Exposure. If any LC Exposure exists at the time a Lender becomes a Defaulting Lender, then the Borrowers shall within one Business Day following notice thereof by the Administrative Agent (i) cash collateralize such Defaulting Lender’s LC Exposure in accordance with the procedures set forth in Section 2.08(j) for so long as such LC Exposure is outstanding or (ii) enter into such other arrangements as are satisfactory to the Administrative Agent, the Issuing Lender and the Borrowers.
LC Exposure. (Section 2.05): LC Exposure Amount- $1,000,000
LC Exposure. 16 Lender.......................................................................................1 Lenders......................................................................................1
LC Exposure. If any LC Exposure exists at the time such Lender becomes a Defaulting Lender then: (i) all or any part of the LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentage (disregarding such Defaulting Lender’s Maximum Credit Amount) but only to the extent the sum of all non-Defaulting Lenders’ Revolving Credit Exposure plus such Defaulting Lender’s LC Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments; (ii) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall, within one (1) Business Day following notice by the Administrative Agent Cash Collateralize for the benefit of the Issuing Bank only the Borrower’s obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.09(j) for so long as such LC Exposure is outstanding; (iii) if the Borrower Cash Collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause (ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 3.05(b) with respect to such Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is Cash Collateralized; (iv) if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to Section 3.05(a) and Section 3.05(b) shall be adjusted to reflect such reallocations; and (v) if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated nor Cash Collateralized pursuant to clause (i) or (ii) above, then, without prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all fees payable pursuant to Section 3.05(a) with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank until and to the extent that such LC Exposure is reallocated and/or Cash Collateralized; and (d) Letters of Credit. So long as such Lender is a Defaulting Lender, the Issuing Bank shall not be required to issue, extend, renew or increase any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or Cash Collateral will be p...
LC Exposure. The aggregate LC Exposure, calculated after giving pro forma effect to all Parent Facility Continuing Letters of Credit (subject to the limitations set forth in the definition of “Parent Facility Continuing Letters of Credit” in the Additional Amendments Credit Agreement) and taking into account all other outstanding Letters of Credit at such time, shall not exceed $50,000,000. The Administrative Agent shall notify the Borrower, the Lenders and the Issuing Banks of the Additional Amendments Effective Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the Additional Amendments Effective Date (including, for the avoidance of doubt, the effectiveness of the Aggregate Revolving Commitment Increase) shall not occur unless each of the foregoing conditions is satisfied (or waived pursuant to Section 9.02 of the Credit Agreement) on or before October 15, 2018. For the purpose of determining satisfaction of the conditions specified in this Section 5, each Lender that has signed and delivered this Amendment shall be deemed to have accepted, and to be satisfied with, each document or other matter required under this Section 5 unless the Administrative Agent shall have received written notice from such Lender prior to the Additional Amendments Effective Date specifying its objection thereto.
LC Exposure. The definition of "LC Exposure" in Section 1.01 of the Credit Agreement is amended by deleting clause (a) thereof and replacing it with the following:
