Common use of Letters of Credit Commitments Clause in Contracts

Letters of Credit Commitments. Subject to and upon the terms and conditions herein set forth, Borrower may request that any Facing Agent issue, at any time and from time to time on and after the Initial Borrowing Date, and prior to the 30th Business Day preceding the Revolver Termination Date, (x) for the account of Borrower and for the benefit of any holder (or any trustee, agent or other similar representative for any such holder) of LC Supportable Indebtedness of Borrower or any of its Subsidiaries, an irrevocable standby letter of credit, in a form customarily used by such Facing Agent, or in such other form as has been approved by such Facing Agent (each such standby letter of credit, a "STANDBY LETTER OF CREDIT") in support of such LC Supportable Indebtedness and (y) for the account of Borrower and in support of trade obligations of Borrower or any of its Subsidiaries, an irrevocable sight letter of credit in a form customarily used by such Facing Agent or in such other form as has been approved by such Facing Agent (each such letter of credit, a "COMMERCIAL LETTER OF CREDIT"; and each such Commercial Letter of Credit and each Standby Letter of Credit, a "LETTER OF CREDIT"), in support of commercial transactions of Borrower and its Subsidiaries; PROVIDED, HOWEVER, no Letter of Credit shall be issued the Stated Amount of which, when added to the LC Obligations (exclusive of Unpaid Drawings relating to Letters of Credit which are repaid on the date of, and prior to the issuance of, the respective Letter of Credit) at such time, would exceed either (x) $25,000,000 or (y) when added to the aggregate principal amount of all Domestic Revolving Loans and Swing Line Loans then outstanding, the Domestic Revolving Commitments at such time.

Letters of Credit Commitments. (i) USD Letters of Credit. Subject to and upon the terms and conditions herein set forth, each USD Revolving Borrower may request request, on behalf of itself or any Subsidiary or Unrestricted Entity (subject to the limitation on Investments in Unrestricted Entities set forth in Section 8.7(k)), that any Facing Agent issue, at any time and from time to time on and after during the Initial Borrowing DateUSD Revolving Commitment Period, and prior to the 30th Business Day preceding the Revolver Termination Date, (x) for the account of such USD Revolving Borrower and for the benefit of any holder (or any trustee, agent or other similar representative for any such holder) of LC Supportable Indebtedness obligations of Borrower one or more of the USD Revolving Borrowers, any of its Subsidiariestheir Subsidiaries and any Unrestricted Entities (in the case of Unrestricted Entities, an irrevocable standby letter subject to the limitation on Investments in Unrestricted Entities set forth in Section 8.7(k)), a USD Letter of creditCredit, in a form customarily used by such Facing Agent, or in such other form as has been approved by such Facing Agent (each such standby letter of credit, a "STANDBY LETTER OF CREDIT") in support of such LC Supportable Indebtedness and (y) for the account of Borrower and in support of trade obligations of Borrower or any of its Subsidiariesobligations; provided, an irrevocable sight letter of credit in a form customarily used by such Facing Agent or in such other form as has been approved by such Facing Agent (each such letter of credithowever, a "COMMERCIAL LETTER OF CREDIT"; and each such Commercial Letter of Credit and each Standby Letter of Credit, a "LETTER OF CREDIT"), in support of commercial transactions of Borrower and its Subsidiaries; PROVIDED, HOWEVER, that no USD Letter of Credit shall be issued the Stated Amount of which, when added to the USD LC Obligations (exclusive of Unpaid Drawings relating to USD Letters of Credit which are repaid on or prior to the date of, and prior to the issuance of, the respective USD Letter of Credit) at such time, would exceed either the lesser of (x1) $25,000,000 225,000,000 or (y2) when added to the aggregate principal amount Effective Amount of all Domestic USD Revolving Loans and USD Swing Line Loans then outstandingoutstanding with respect to all USD Revolving Borrowers, the Domestic USD Revolving Commitments at such time; provided, further, that (x) the aggregate face amount of all outstanding USD Letters of Credit issued by any Facing Agent shall not exceed such Facing Agent’s Applicable LC Sublimit in respect of USD Letters of Credit and (y) the aggregate face amount of all USD Letters of Credit issued and outstanding for the account of any USD Revolving Borrower shall not exceed, when added without duplication to the aggregate Effective Amount of all USD Revolving Loans, USD LC Obligations and USD Swing Line Loans of such USD Revolving Borrower, such USD Revolving Borrower’s Available USD Revolver Sublimit.

Letters of Credit Commitments. Subject to and upon the terms and conditions herein set forth, Borrower Company may request on behalf of itself or any Other Subsidiary Borrower, that any Facing Agent issue, at any time and from time to time on and after during the Initial Borrowing DateMulticurrency Revolving Commitment Period, and prior to the 30th Business Day preceding the Revolver Termination Date, (x) for the account of such Borrower and for the benefit of any holder (or any trustee, agent or other similar representative for any such holder) of LC Supportable Indebtedness obligations of Borrower one or more of the Borrowers, any of its Subsidiariestheir Subsidiaries and any Unrestricted Entities (in the case of Unrestricted Entities, an irrevocable standby letter subject to the limitation on Investments in Unrestricted Entities set forth in Section 8.7(k)), a Letter of creditCredit, in a form customarily used by such Facing Agent, or in such other form as has been approved by such Facing Agent (each such standby letter of credit, a "STANDBY LETTER OF CREDIT") in support of such LC Supportable Indebtedness and (y) for the account of Borrower and in support of trade obligations of Borrower or any of its Subsidiariesobligations; provided, an irrevocable sight letter of credit in a form customarily used by such Facing Agent or in such other form as has been approved by such Facing Agent (each such letter of credithowever, a "COMMERCIAL LETTER OF CREDIT"; and each such Commercial Letter of Credit and each Standby Letter of Credit, a "LETTER OF CREDIT"), in support of commercial transactions of Borrower and its Subsidiaries; PROVIDED, HOWEVER, that no Letter of Credit shall be issued the Stated 103 Amount of which, when added to the LC Obligations (exclusive of Unpaid Drawings relating to Letters of Credit which are repaid on or prior to the date of, and prior to the issuance of, the respective Letter of Credit) at such time, would exceed either the lesser of (x1) the Dollar Equivalent of $25,000,000 250,000,000 or (y2) when added to the Dollar Equivalent of the aggregate principal amount of all Domestic Multicurrency Revolving Loans and Swing Line Loans Loans, then outstandingoutstanding with respect to all Borrowers, the Domestic Multicurrency Revolving Commitments at such time; provided, further, that (x) the aggregate face amount of all Letters of Credit issued and outstanding by any Facing Agent shall not exceed such Facing Agent’s Applicable LC Sublimit and (y) the aggregate face amount of all Letters of Credit issued and outstanding for the account of any Borrower shall not exceed, when added without duplication to the Dollar Equivalent of the aggregate principal amount of all Multicurrency Revolving Loans, LC Obligations and Swing Line Loans of such Borrower, such Borrower’s Available Revolver Sublimit. Notwithstanding anything to the contrary in this Section 2.10, at the request of the applicable requesting Borrower, any Letter of Credit may contain a statement to the effect that such Letter of Credit is issued for the account of Company, any of its Subsidiaries or any Unrestricted Entity; provided that notwithstanding such statement, such requesting Borrower shall be the actual account party for all purposes of the Loan Documents for such Letter of Credit and such statement shall not affect such requesting Borrower’s reimbursement obligations hereunder with respect to such Letter of Credit.

Letters of Credit Commitments. (i) Subject to and upon the terms and conditions herein set forth, Borrower may request that any Facing Agent issue, at any time and from time to time on and or after the Initial Borrowing Date, Date and to but not including a date which is ten (10) Business Days prior to the 30th Business Day preceding the Revolver Termination Date, each Facing Agent agrees, severally not jointly, to issue each in its own name, but for the ratable account of all Domestic Revolving Lenders (x) including the applicable Facing Agent), one or more Domestic Letters of Credit, each having a Stated Amount in Dollars, for the account of Borrower Borrowers (other than Canadian Borrowers) and for their Subsidiaries in a Stated Amount which together with the benefit aggregate Stated Amount of other Domestic Letters of Credit then outstanding does not exceed Twelve Million Dollars ($12,000,000); provided, however, that a Facing Agent shall not issue or extend the expiration of any holder (or any trustee, agent or other similar representative for any such holder) of LC Supportable Indebtedness of Borrower or any of its Subsidiaries, an irrevocable standby letter of credit, in a form customarily used by such Facing Agent, or in such other form as has been approved by such Facing Agent (each such standby letter of credit, a "STANDBY LETTER OF CREDIT") in support of such LC Supportable Indebtedness and (y) for the account of Borrower and in support of trade obligations of Borrower or any of its Subsidiaries, an irrevocable sight letter of credit in a form customarily used by such Facing Agent or in such other form as has been approved by such Facing Agent (each such letter of credit, a "COMMERCIAL LETTER OF CREDIT"; and each such Commercial Domestic Letter of Credit and each Standby Letter of Creditif, a "LETTER OF CREDIT"immediately after giving effect to such issuance or extension, (A) the aggregate LC Obligations at such time would exceed Twelve Million Dollars ($12,000,000), in support of commercial transactions of Borrower and its Subsidiaries; PROVIDED, HOWEVER, no Letter of Credit shall be issued the Stated Amount of which, when added to the LC Obligations (exclusive of Unpaid Drawings relating to Letters of Credit which are repaid on the date of, and prior to the issuance of, the respective Letter of Credit) at such time, would exceed either (x) $25,000,000 or (yB) when added to the aggregate principal amount sum of all the Domestic Revolving Loans and Swing Line Loans then outstanding, outstanding and the Domestic LC Obligations would exceed the Total Domestic Revolving Commitments at Commitment. Each Domestic Revolving Lender, severally, but not jointly, agrees to participate in each such timeDomestic Letter of Credit issued by the applicable Facing Agent in an amount equal to its Domestic Revolver Pro Rata Share, and to make available to the applicable Facing Agent such Lender's Domestic Revolver Pro Rata Share of any payment made to the beneficiary of such Domestic Letter of Credit to the extent not reimbursed by Company; provided, however, that no Domestic Revolving Lender shall be required to participate in any Domestic Letter of Credit to the extent that such participation therein would exceed such Domestic Revolving Lender's Available Domestic Revolving Commitment then in effect; and provided further, however, that, notwithstanding the foregoing, in the event Borrowers do not comply with Section 2.10(b)(ii)(C), each Domestic Revolving Lender's participation shall continue in any Domestic Letter of Credit which remains outstanding subject to the last sentence of such Section 2.10(b)(ii)(C). No Domestic Revolving Lender's obligation to participate in any Domestic Letter of Credit or to make available to the applicable Facing Agent such Domestic Revolving Lender's Domestic Revolver Pro Rata Share of any Letter of Credit Payment made by the applicable Facing Agent shall be affected by any other Domestic Revolving Lender's failure to participate in the same or any other Domestic Letter of Credit or by any other Domestic Revolving Lender's failure to make available to the applicable Facing Agent such other Domestic Revolving Lender's Domestic Revolver Pro Rata Share of any Letter of Credit Payment.