Common use of Letters of Credit Sublimit Clause in Contracts

Letters of Credit Sublimit. Bank will issue or have issued Letters of Credit for Borrower's account not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the outstanding principal balance of the Advances minus the amount of the Cash Management Sublimit designated by Bank at the time of determination as utilized; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,000. Each Letter of Credit will have an expiry date of no later than 30 days after the Revolving Maturity Date, but Borrower's reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.

Letters of Credit Sublimit. Bank will issue or have issued letters of credit for Borrower’s account (individually referred as a “Letter of Credit” and collectively referred to herein as the “Letters of Credit for Borrower's account Credit”) not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the sum of outstanding principal balance of the Revolving Advances minus and the amount of the Cash Management Sublimit designated by Bank at the time of determination as utilizedCredit Card Utilization; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,000500,000. Each Letter of Credit will have an expiry date of no later than 30 180 days after the Revolving Maturity Date, but Borrower's ’s reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.”

Letters of Credit Sublimit. Bank will issue or have issued Letters of Credit for Borrower's account in an aggregate face amount not exceeding to exceed the Committed Revolving Line, in each case minus the sum of (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the then-outstanding principal balance of the Advances minus the amount of Revolving Advances, plus (ii) all amounts then-outstanding under the Cash Management Sublimit designated by Bank at plus (iii) the time of determination as utilizedForeign Exchange Sublimit; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not at no time exceed $5,000,000the Committed Revolving Line. Each Letter of Credit will have an expiry date of no not later than 30 180 days after the Revolving Maturity Date, but Borrower's reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.

Letters of Credit Sublimit. Bank will issue or have issued letters of credit for Borrower’s account (individually referred as a “Letter of Credit” and collectively referred to herein as the “Letters of Credit for Borrower's account Credit”) not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the outstanding principal balance of the Advances minus the amount of the Cash Management Sublimit designated by Bank at the time of determination as utilizedRevolving Advances; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,000500,000. Each Letter of Credit will have an expiry date of no later than 30 180 days after the Revolving Maturity Date, but Borrower's ’s reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.

Letters of Credit Sublimit. Bank will issue or have issued Letters of Credit for Borrower's ’s account in an aggregate face amount not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (iii) the outstanding principal balance of the Advances minus the amount of Revolving Advances, (ii) the Cash Management Sublimit designated by Bank at Sublimit, and (iii) the time of determination as utilizedFX Sublimit; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not at no time exceed $5,000,000the Committed Revolving Line. Each Letter of Credit will have an expiry date of no not later than 30 180 days after the Revolving Maturity Date, but Borrower's ’s reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.

Letters of Credit Sublimit. Bank will issue or have issued Letters of Credit for Borrower's account not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the outstanding principal balance of the Advances minus the amount of all amounts for services utilized under the Cash Management Sublimit designated by Bank at Services Sublimit, minus the time of determination as utilizedFX Reserve; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,0004,200,000. Each Letter of Credit will have an expiry date of no later than 30 180 days after the Revolving Maturity Date, but Borrower's reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.

Letters of Credit Sublimit. Bank will issue or have issued letters of credit for Borrower’s account (individually referred as a “Letter of Credit” and collectively referred to herein as the “Letters of Credit for Borrower's account Credit”) not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base Base, minus (ii) the outstanding principal balance of the Revolving Advances and minus the amount of (iii) the Cash Management Sublimit designated by Bank at the time of determination as utilizedSublimit; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,000500,000. Each Letter of Credit will have an expiry date of no later than 30 180 days after the Revolving Maturity Date, but Borrower's ’s reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.. ”

Letters of Credit Sublimit. Bank will issue or have issued Letters of Credit for Borrower's ’s account not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base minus (ii) the outstanding principal balance of the Advances minus the amount of all amounts for services utilized under the Cash Management Sublimit designated by Bank at Services Sublimit, minus the time of determination as utilizedFX Reserve; provided, however, that the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not exceed $5,000,0004,200,000. Each Letter of Credit will have an expiry expiration date of no later than 30 180 days after the Revolving Maturity Date, but Borrower's ’s reimbursement obligation will be secured by cash on terms acceptable to Bank at any time after the Revolving Maturity Date if the term of this Agreement is not extended by Bank. Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request.