Common use of Reallocation of Ratable Portions to Reduce Fronting Exposure Clause in Contracts

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Lender that is a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.7, the “Ratable Portion” of each Revolving Lender that is a Non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that, (i) each such reallocation shall be given effect only if, at the date the Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Commitments of that Non-Defaulting Lender minus (2) the aggregate Revolving Outstandings of that Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Lender that is a Non-Defaulting Lender to acquire, refinance or fund participations in Liquidity Letters of Credit or Swing Loans pursuant to Section 2.7, the “Ratable Portion” of each Revolving Lender that is a Non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that, (i) each such reallocation shall be given effect only if, at the date the Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and, in the case of Revolving Lenders, Swing Loans shall not exceed the positive difference, if any, of (1) the Revolving Applicable Commitments of that Non-Defaulting Lender minus (2) the aggregate Revolving Applicable Outstandings of that Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Lender that is a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.72.4, the “Ratable Portion” of each Revolving Lender that is a Non-Defaulting Lender shall be computed without giving effect to the Commitment Letter of Credit Facility Commitments of that Defaulting Lender; provided provided, that, (i) each such reallocation shall be given effect only if, at the date the LC Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of a each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Letter of Credit Facility Commitments of that Non-Defaulting Lender minus (2) the aggregate Revolving Outstandings outstanding Letter of Credit Obligations of that LC Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, solely for purposes of computing the amount of the obligation of each Revolving Lender that is a Nonnon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit Credits and Swing Line Loans pursuant to Section 2.7Sections 2.22 and 2.23, the “Ratable PortionRevolving Percentage” of each Revolving Lender that is a Nonnon-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided thatprovided, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiB) the aggregate obligation of a Nonany non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit Credits and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitments of that Nonsuch non-Defaulting Lender minus (2) the aggregate Revolving Outstandings Loans of that such non-Defaulting Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, solely for purposes of computing the amount of the obligation of each Revolving Lender that is a Nonnon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.72.03, the “Ratable PortionApplicable Percentage” of each Revolving Lender that is a Nonnon-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided thatprovided, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiB) the aggregate obligation of a Nonany non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Commitments of that Nonsuch non-Defaulting Lender minus (2) the aggregate Revolving Outstandings Advances of that such non-Defaulting Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Lender that is a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.72.4, the “Ratable Portion” of each Revolving Lender that is a Non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided provided, that, (i) each such reallocation shall be given effect only if, at the date the Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of a each Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Commitments of that Non-Defaulting Lender minus (2) the aggregate Revolving Outstandings of that Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, solely for purposes of computing the amount of the obligation of each Revolving Lender that is a Nonnon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.72.03, the “Ratable PortionApplicable Percentage” of each Revolving Lender that is a Nonnon-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided thatprovided, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiB) the aggregate obligation of a Nonany non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Commitments Commitment of that Non-such non- Defaulting Lender minus (2) the aggregate Revolving Outstandings Advances of that such non-Defaulting Lender.

Reallocation of Ratable Portions to Reduce Fronting Exposure. During any period in which there is a Revolving Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Lender that is a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 2.7, the “Ratable Portion” of each Revolving Lender that is a Non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided that, (i) each such reallocation shall be given effect only if, at the date the Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of a Non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit shall not exceed the positive difference, if any, of (1) the Revolving Commitments Commitment of that Non-Defaulting Lender minus (2) the aggregate Revolving Outstandings Letter of Credit Obligations of that Lender.