Lc Subfacility. (a) Subject to the terms and conditions of this Agreement and applicable Law, Agent agrees to issue LCs under Facility A upon Borrower's delivery of an LC Request and a duly executed LC Agreement, each of which must be received by Agent no later than 12:00 noon on the third Business Day before the requested LC is to be issued; provided that the LC Exposure may not exceed $7,000,000 and the Facility A Commitment Usage may not exceed the Facility A Commitment Sum. Each LC must expire no later than the earlier of five (5) days before the Facility A Maturity Date and one (1) year after such LC's issuance (provided that, LCs may, if so requested by Borrower, be self-extending with up to one hundred twenty (120) days cancellation notice by Agent to beneficiary).
(b) Immediately upon Agent's issuance of any LC, Agent shall be deemed to have sold and transferred to each other Lender, and each other Lender shall be deemed irrevocably and unconditionally to have purchased and received from Agent, without recourse or warranty, an undivided interest and participation (to the extent of such Lender's Pro Rata Part of the Facility A Commitment Sum) in the LC and all applicable Rights of Agent in the LC (other than Rights to receive certain fees provided for in SECTION 4.3). Agent agrees to provide a copy of each LC to each other Lender promptly after issuance. However, Agent's failure to promptly send to Lenders a copy of an issued LC shall not affect the rights and obligations of Agent and Lenders under this Agreement.
(c) To induce Agent to issue and maintain LCs, and to induce Lenders to participate in issued LCs, Borrower agrees to pay or reimburse Agent (i) within one (1) Business Day after Borrower receives notice from Agent that any draft or draw request has been properly presented under any LC, or, if the draft of draw request is for payment at a future date, within one (1) Business Day before the payment date specified in the draw request, the amount paid or to be paid by Agent and (ii) promptly, upon demand, the amount of any additional fees Agent customarily charges for the application and issuance of an LC, for confirming, negotiating or amending LC Agreements, for honoring drafts and draw requests, and taking similar action in connection with letters of credit. If Borrower does not timely pay or reimburse Agent for any drafts or draw requests paid or to be paid, Agent shall fund Borrower's reimbursement obligations as an ABR Borrowing under Facility A and th...
Lc Subfacility. Subject to the terms and conditions of this Agreement and applicable Law, Administrative Agent agrees to issue LCs upon Borrower's application therefor (denominated in Dollars) by delivering to Administrative Agent a properly completed LC Request and an LC Agreement with respect thereto no later than 10:00 a.m. Dallas, Texas time three Business Days before such LC is to be issued; PROVIDED THAT, (i) on any date of determination and after giving effect to any LC to be issued on such date, the Revolver Commitment Usage shall never exceed the Revolver Commitment then in effect, (ii) on any date of determination and after giving effect to any LC to be issued on such date, the LC Exposure shall never exceed $50,000,000 (as such commitment under the LC Subfacility may be reduced or canceled as herein provided), (iii) at the time of issuance of such LC, no Default or Potential Default shall have occurred and be continuing, and (iv) each LC must expire no later than the EARLIER of the 30th day prior to the Termination Date for the Revolver Facility or one year from its issuance; PROVIDED THAT, any LC may provide for automatic renewal for successive periods of up to twelve months (but no renewal period may extend beyond the 30th day prior to the Termination Date for the Revolver Facility) UNLESS Administrative Agent has given prior notice to the applicable beneficiary of its election not to extend such LC.
Lc Subfacility. 13 SECTION 3
Lc Subfacility. (a) Subject to the terms and conditions of this Agreement and applicable Law, Agent agrees to issue LCs under the Revolving Credit Tranche upon Borrower's delivery of an LC Request and an LC 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 LC is to be issued; provided that the LC Exposure may not exceed $60,000,000 and the Revolving Credit Commitment Usage may not exceed the aggregate commitment under the Revolving Credit Tranche (as such amount is reduced and canceled in accordance with this Agreement). Each LC (other than Xxxxx Creek LCs) must expire no later than 13 months from its issuance; provided that any LC (other than Xxxxx Creek LCs) 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 or (ii) a Default exists). Amounts drawn under Xxxxx Creek LCs are subject to reinstatement upon the terms set forth therein. In no event may any LC have an expiration date later than the Revolving Credit Termination Date.
Lc Subfacility. SWING LINE SUBFACILITY...
Lc Subfacility. (a) Subject to the terms and conditions of this Agreement and applicable Law, Agent agrees to issue LCs denominated in U.S. Dollars under the Facility upon Borrower's delivery of an LC Request and an LC 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 LC is to be issued; provided that Commitment Usage may not exceed the Total Commitment. Each LC (other than the Bond LCs) must expire no later than 13 months from its issuance; provided that any LC (other than the Bond LCs) 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 LCs are subject to reinstatement upon the terms set forth therein. In no event may any LC have an expiration date later than the Termination Date.
Lc Subfacility. 21 2.4 Requests..................................................... 23 2.5 Termination.................................................. 24
Lc Subfacility. 13 2.4 Termination of Revolving Facilities. . . . . . . . . . . . . . . . . . . 16
Lc Subfacility. (a) Subject to the terms and conditions of this Agreement and applicable Law, Issuing Lender agrees, at any time and from time to time (but not later than 30 days prior to the Revolving Credit Termination Date), to issue LCs under the Revolving Credit Facility upon Borrower's delivery of an LC Request and a duly executed LC Agreement, each of which must be received by Issuing Lender no later than 12:00 noon on the second Business Day before the requested LC is to be issued; provided that the LC Exposure may not exceed $15,000,000, and the Revolving Credit Commitment Usage may not exceed the Revolving Credit Commitment (as such amount is reduced and canceled in accordance with this Agreement). Each LC must expire no later than 13 months after such LC's issuance, provided that (i) any LC may, at Borrower's request, provide that it is self-extending upon its expiration date for successive periods of 6 to 12 months each unless Issuing Lender has given the beneficiary under such LC at least 30 days (but no more than 120 days) prior written notice to the contrary, and (ii) each LC must expire no later than the Revolving Credit Termination Date.
Lc Subfacility. 23 2.5 Swing Line Subfacility..........................................26 2.6 Terminations or Reductions of Commitments.......................27 2.7
