Common use of Maximum Letter of Credit Outstandings; Final Maturities Clause in Contracts

Maximum Letter of Credit Outstandings; Final Maturities. Notwithstanding anything to the contrary contained in this Agreement, (i) no Letter of Credit shall be issued the Stated Amount of which, when added to the Letter of Credit Outstandings (exclusive of Unpaid Drawings 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) the L/C Aggregate Maximum Amount (determined after giving effect to any proposed issuance of a Letter of Credit pursuant to the Consent Decree to secure the satisfaction of the Consent Decree Phosphogypsum Stack Liability) or (y) when added to the sum of (I) the aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal amount of all Swingline Loans then outstanding, an amount equal to the Total Revolving Loan Commitment at such time, and (ii) each Letter of Credit shall by its terms terminate (x) in the case of standby Letters of Credit, on or before the earlier of (A) the date which occurs 12 months after the date of the issuance thereof and (B) five Business Days prior to the Revolving Loan Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof), and (y) in the case of trade Letters of Credit, on or before the earlier of (A) the date which occurs 180 days after the date of issuance thereof and (B) 30 days prior to the Revolving Loan Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof).

Maximum Letter of Credit Outstandings; Final Maturities. Notwithstanding anything to the contrary contained in this Agreement, (i) no Letter of Credit shall be issued the Stated Amount of which, when added to the Letter of Credit Outstandings (exclusive of Unpaid Drawings 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) the L/C Aggregate Maximum Amount (determined after giving effect to any proposed issuance of a Letter of Credit pursuant to the Consent Decree to secure the satisfaction of the Consent Decree Phosphogypsum Stack Liability) $20,000,000 or (y) when added to the sum of (I) the aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal amount of all Swingline Loans then outstanding, an amount equal to the lesser of (A) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered) and (B) the Total Revolving Loan Commitment at such time, time and (ii) each Letter of Credit shall by its terms terminate on or before the earlier of (x) (A) in the case of standby Letters of Credit, on or before the earlier of (A) the date which occurs 12 months after the date of the issuance thereof (although any such standby Letter of Credit may be extendible for successive periods of up to 12 months, but not beyond the third Business Day prior to the Final Maturity Date, on terms acceptable to such Issuing Lender) and (B) five Business Days prior to the Revolving Loan Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof), and (y) in the case of trade Letters of Credit, on or before the earlier of (A) the date which occurs 180 days after the date of the issuance thereof and (By) three Business Days (or 30 days in the case of a trade Letter of Credit) prior to the Revolving Loan Final Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof)Date.

Maximum Letter of Credit Outstandings; Final Maturities. Notwithstanding anything to the contrary contained in this Agreement, (ia) no Letter of Credit shall be issued (or required to be issued) if the Stated Amount of whichsuch Letter of Credit, when added to the Letter of Credit Outstandings (exclusive of Unpaid Drawings which are repaid on the date of, and prior to the issuance of, the respective Letter of Credit) at such time would exceed either $50,000,000 (xthe “Maximum Letter of Credit Amount”), (b) no Letter of Credit shall be issued (or required to be issued) at any time when the L/C Aggregate Maximum Amount Exposure exceeds (determined or would after giving effect to any proposed such issuance of a Letter of Credit pursuant to the Consent Decree to secure the satisfaction of the Consent Decree Phosphogypsum Stack Liabilityexceed) or either (yi) when added to the sum of (I) the aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal amount of all Swingline Loans then outstanding, an amount equal to the Total Revolving Loan Commitment at such time, and time or (ii) the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered), (c) each Letter of Credit shall be denominated in Dollars, (d) each standby Letter of Credit shall by its terms terminate (x) in the case of standby Letters of Credit, on or before the earlier of (Ai) the date which occurs 12 months after the date of the issuance thereof (although any such standby Letter of Credit may be extendible for successive periods of up to 12 months, but, in each case, not beyond the tenth Business Day prior to the Final Maturity Date, on terms acceptable to the Issuing Lender)) and (Bii) five ten Business Days prior to the Revolving Loan Final Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof), and (ye) in the case each trade Letter of trade Letters of Credit, Credit shall by its terms terminate on or before the earlier of (Ai) the date which occurs 180 days after the date of issuance thereof and (Bii) 30 days ten Business Days prior to the Revolving Loan Final Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof)Date.

Maximum Letter of Credit Outstandings; Final Maturities. Notwithstanding anything to the contrary contained in this Agreement, (i) no Letter of Credit shall be issued the Stated Amount of which, when added to the Letter of Credit Outstandings (exclusive of Unpaid Drawings 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) the L/C Aggregate Maximum Amount (determined after giving effect to any proposed issuance of a Letter of Credit pursuant to the Consent Decree to secure the satisfaction of the Consent Decree Phosphogypsum Stack Liability) or (y) exceed, when added to the sum of (I) the aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal amount of all Swingline Loans then outstanding, an amount equal to the Total Revolving Loan Commitment at such time, and (ii) unless consented to by the Issuing Lender, each Letter of Credit shall by its terms terminate (x) in the case of standby Letters of Credit, on or before the earlier of (A) the date which occurs 12 months after the date of the issuance thereof (although any such standby Letter of Credit may be automatically extendible for successive periods of up to 12 months, but, in each case, not beyond the fifth Business Day prior to the then Latest Maturity Date applicable to Revolving Loan Commitments hereunder, on terms reasonably acceptable to the Issuing Lender) and (B) five (5) Business Days prior to the then Latest Maturity Date applicable to Revolving Loan Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof)Commitments hereunder, and (y) in the case of trade Letters of Credit, on or before the earlier of (A) the date which occurs 180 days after the date of issuance thereof and (B) 30 days five (5) Business Days prior to the Maturity Date applicable to Revolving Loan Maturity Date (for this purpose, determined without regard to the proviso to the definition thereof)Commitments hereunder.