Common use of Revolving Letters of Credit Clause in Contracts

Revolving Letters of Credit. During the Revolving Commitment Period, subject to the terms and conditions hereof, the Issuing Bank agrees to issue Revolving Letters of Credit for the account of each Borrower in the aggregate amount up to but not exceeding the Revolving Letter of Credit Sublimit; provided, (i) after giving effect to such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; (ii) after giving effect to such issuance, in no event shall the Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iii) in no event shall any standby Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior the Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Revolving Letter of Credit; and (iv) in no event shall any commercial Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior to the Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Revolving Letter of Credit; provided, further, in the event (x) a Funding Default exists or (y) a determination pursuant to Section 2.18 or 2.19 occurs, the Issuing Bank shall not be required to issue any Revolving Letter of Credit unless the Issuing Bank has entered into arrangements satisfactory to it and each Borrower to eliminate the Issuing Bank’s risk with respect to the participation in the Revolving Letters of Credit of the Defaulting Bank, including by Cash Collateralizing such Defaulting Bank’s Pro Rata Share of the Letter of Credit Usage.

Revolving Letters of Credit. During (i) Upon the Revolving Commitment Period, terms and subject to the terms and conditions hereof, the each Revolving Issuing Bank Lender agrees to issue Revolving Letters of Credit for payable in Dollars from time to time after the account Closing Date and prior to the earlier of each the Termination Date and the termination of the Revolving Commitments, upon the request of the Borrower in or any Subsidiary Borrower (other than the aggregate amount up to but Canadian Subsidiary Borrower), provided that (A) the Borrower or applicable Subsidiary Borrower shall not exceeding the request that any Revolving Letter of Credit Sublimit; be issued if, after giving effect thereto, the sum of the then current Revolving L/C Exposure plus the aggregate principal amount of the Loans then outstanding (other than Canadian Revolving Loans) would exceed the Total Revolving Commitment, (B) in no event shall any Revolving Issuing Lender issue (x) any Revolving Letter of Credit having an expiration date later than five Business Days before the Termination Date or (y) any Revolving Letter of Credit having an expiration date more than one year after its date of issuance, provided, further, that any Revolving Letter of Credit with a 365-day duration may provide for the renewal thereof for additional one-year periods (iwhich shall in no event extend beyond the date referred to in clause (x) above), (C) neither the Borrower nor any Subsidiary Borrower shall request that a Revolving Issuing Lender issue any Revolving Letter of Credit if, after giving effect to such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; (ii) after giving effect L/C Exposure would exceed $200,000,000 prior to such issuance, in no event shall the Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iii) in no event shall any standby Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior the Revolving Commitment Non-Extended Termination Date and $50,000,000 (2) and if on the date which is one year from Non-Extended Termination Date the date of issuance Revolving L/C Exposure exceeds $50,000,000 the Borrower shall deposit cash or Cash Equivalents in a Cash Collateral Account in an amount equal to 103% of such standby Revolving Letter of Credit; excess to be held as cash collateral by the Administrative Agent until such excess no longer exists, at which time the Administrative Agent shall return all such collateral to the Borrower) thereafter, and (iv) in no event shall any commercial Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior to the Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Revolving Letter of Credit; provided, further, in the event (xD) a Funding Default exists Revolving Issuing Lender shall be prohibited from issuing or (y) a determination pursuant to Section 2.18 or 2.19 occurs, the Issuing Bank shall not be required to issue any Revolving Letter of Credit unless the Issuing Bank has entered into arrangements satisfactory to it and each Borrower to eliminate the Issuing Bank’s risk with respect to the participation in the renewing Revolving Letters of Credit hereunder upon the occurrence and during the continuance of the Defaulting Bank, including by Cash Collateralizing such Defaulting Bank’s Pro Rata Share a Default or an Event of the Letter of Credit UsageDefault.

Revolving Letters of Credit. During the Revolving Commitment Period, subject to the terms and conditions hereof, the Issuing Bank agrees to issue Revolving Letters of Credit for the account of each Borrower Borrowers in the aggregate amount up to but not exceeding the Revolving Letter of Credit SublimitSublimit (any such Letter of Credit issued pursuant to this Section 2.4(a), a “Revolving Letter of Credit”); provided, (i) each Letter of Credit shall be denominated in Dollars; (ii) the stated amount of each Letter of Credit shall not be less than $10,000 or such lesser amount as is acceptable to Issuing Bank; (iii) after giving effect to such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; (iiiv) after giving effect to such issuance, in no event shall the Revolving Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iiiv) in no event shall any standby Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior the Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Revolving Letter of Credit; and (ivvi) in no event shall any commercial documentary Revolving Letter of Credit (x) have an expiration date later than the earlier of (1) five (5) Business Days prior to the Revolving Loan Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial documentary Revolving Letter of CreditCredit or (y) be issued if such documentary Revolving Letter of Credit is otherwise unacceptable to Issuing Bank in its reasonable discretion. Subject to the foregoing, Issuing Bank may agree that a standby Revolving Letter of Credit will automatically be extended for one or more successive periods not to exceed one year each, unless Issuing Bank elects not to extend for any such additional period; provided, Issuing Bank shall not extend any such Revolving Letter of Credit if at least 2 Business Days prior to the time Issuing Bank must elect to allow such extension, it has received written notice that an Event of Default has occurred and is continuing at the time Issuing Bank must elect to allow such extension; provided, further, in the event (x) a Funding Default exists or (y) a determination pursuant to Section 2.18 or 2.19 occursexists, the Issuing Bank shall not be required to issue any Revolving Letter of Credit unless the Issuing Bank has entered into arrangements satisfactory to it and each Borrower Borrowers to eliminate the Issuing Bank’s risk with respect to the participation in the Revolving Letters of Credit of the Defaulting BankLender, including by Cash Collateralizing cash collateralizing such Defaulting BankLender’s Pro Rata Share of the Revolving Letter of Credit Usage.

Revolving Letters of Credit. During (a) (i) Upon the Revolving Commitment Period, terms and subject to the terms and conditions hereof, the each Revolving Issuing Bank Lender agrees to issue Revolving Letters of Credit for payable in Dollars from time to time after the account Closing Date and prior to the earlier of each the Termination Date and the termination of the Revolving Commitments, upon the request of the Borrower in or any Subsidiary Borrower (other than the aggregate amount up to but Canadian Subsidiary Borrower), provided that (A) the Borrower or applicable Subsidiary Borrower shall not exceeding the request that any Revolving Letter of Credit Sublimit; be issued if, after giving effect thereto, the sum of the then current Revolving L/C Exposure plus the aggregate principal Dollar Equivalent Amount of the Loans then outstanding (other than Canadian Revolving Loans) would exceed the Total Revolving Commitment, (B) in no event shall any Revolving Issuing Lender issue (x) any Revolving Letter of Credit having an expiration date later than five Business Days before the Termination Date or (y) any Revolving Letter of Credit having an expiration date more than one year after its date of issuance, provided, further, that any Revolving Letter of Credit with a 365-day duration may provide for the renewal thereof for additional one-year periods (iwhich shall in no event extend beyond the date referred to in clause (x) above), (C) neither the Borrower, nor any Subsidiary Borrower shall request that a Revolving Issuing Lender issue any Revolving Letter of Credit if, after giving effect to such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; (ii) after giving effect to such issuanceL/C Exposure would exceed $200,000,000, in no event shall the Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iii) in no event shall any standby Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior the Revolving Commitment Termination Date and (2) the date which is one year from the date of issuance of such standby Revolving Letter of Credit; and (iv) in no event shall any commercial Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior to the Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Revolving Letter of Credit; provided, further, in the event (xD) a Funding Default exists Revolving Issuing Lender shall be prohibited from issuing or (y) a determination pursuant to Section 2.18 or 2.19 occurs, the Issuing Bank shall not be required to issue any Revolving Letter of Credit unless the Issuing Bank has entered into arrangements satisfactory to it and each Borrower to eliminate the Issuing Bank’s risk with respect to the participation in the renewing Revolving Letters of Credit hereunder upon the occurrence and during the continuance of the Defaulting Bank, including by Cash Collateralizing such Defaulting Bank’s Pro Rata Share a Default or an Event of the Letter of Credit UsageDefault.

Revolving Letters of Credit. During (a) (i) Upon the Revolving Commitment Period, terms and subject to the terms and conditions hereof, the each Revolving Issuing Bank Lender agrees to issue Revolving Letters of Credit for payable in Dollars from time to time after the account Closing Date and prior to the earlier of each the Termination Date and the termination of the Revolving Commitments, upon the request of the Borrower in or any Subsidiary Borrower (other than the aggregate amount up to but Canadian Subsidiary Borrower), provided that (A) the Borrower or applicable Subsidiary Borrower shall not exceeding the request that any Revolving Letter of Credit Sublimit; be issued if, after giving effect thereto, the sum of the then current Revolving L/C Exposure plus the aggregate principal amount of the Loans then outstanding (other than Canadian Revolving Loans) would exceed the Total Revolving Commitment, (B) in no event shall any Revolving Issuing Lender issue (x) any Revolving Letter of Credit having an expiration date later than five Business Days before the Termination Date or (y) any Revolving Letter of Credit having an expiration date more than one year after its date of issuance, provided, further, that any Revolving Letter of Credit with a 365-day duration may provide for the renewal thereof for additional one-year periods (iwhich shall in no event extend beyond the date referred to in clause (x) above), (C) neither the Borrower nor any Subsidiary Borrower shall request that a Revolving Issuing Lender issue any Revolving Letter of Credit if, after giving effect to such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; (ii) after giving effect L/C Exposure would exceed $200,000,000 prior to such issuance, in no event shall the Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iii) in no event shall any standby Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior the Revolving Commitment Non-Extended Termination Date and $50,000,000 (2) and if on the date which is one year from Non-Extended Termination Date the date of issuance Revolving L/C Exposure exceeds $50,000,000 the Borrower shall deposit cash or Cash Equivalents in a Cash Collateral Account in an amount equal to 103% of such standby Revolving Letter of Credit; excess to be held as cash collateral by the Administrative Agent until such excess no longer exists, at which time the Administrative Agent shall return all such collateral to the Borrower) thereafter, and (iv) in no event shall any commercial Revolving Letter of Credit have an expiration date later than the earlier of (1) five (5) Business Days prior to the Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance of such commercial Revolving Letter of Credit; provided, further, in the event (xD) a Funding Default exists Revolving Issuing Lender shall be prohibited from issuing or (y) a determination pursuant to Section 2.18 or 2.19 occurs, the Issuing Bank shall not be required to issue any Revolving Letter of Credit unless the Issuing Bank has entered into arrangements satisfactory to it and each Borrower to eliminate the Issuing Bank’s risk with respect to the participation in the renewing Revolving Letters of Credit hereunder upon the occurrence and during the continuance of the Defaulting Bank, including by Cash Collateralizing such Defaulting Bank’s Pro Rata Share a Default or an Event of the Letter of Credit UsageDefault.

Revolving Letters of Credit. During the The Revolving Commitment PeriodIssuing Bank agrees, subject to on the terms and conditions hereofhereinafter set forth, the Issuing Bank agrees to issue (or cause any of its Affiliates that is a commercial bank to issue on its behalf) standby letters of credit (each a “Revolving Letter of Credit”) in Dollars for the account of EnergySolutions or any of the Subsidiaries from time to time on any Business Day during the period from the Agreement Date until 5 days before the Revolving Maturity Date in an aggregate Available Amount (i) for all Revolving Letters of Credit for the account of each Borrower in the aggregate amount up not to but not exceeding exceed at any time the Revolving Letter of Credit Sublimit; provided, (i) after giving effect to Commitment at such issuance, in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect; time and (ii) after giving effect to for each such issuance, in no event shall the Letter of Credit Usage exceed the Revolving Letter of Credit Sublimit then in effect; (iii) in no event shall any standby not to exceed the aggregate Unused Revolving Commitments as of the date of issuance thereof. No Revolving Letter of Credit shall have an expiration date later than the earlier of (1i) one year after the date of issuance thereof, or (ii) five (5) Business Days prior days before the Revolving Commitment Termination Date and Maturity Date, but may by its terms be renewable annually upon written notice (2a “Revolving Notice of Renewal”) given to the date which is one year from the date of issuance of Revolving Issuing Bank that issued such standby Revolving Letter of Credit; and (iv) in no event shall any commercial Revolving Letter of Credit have an expiration and the Administrative Agent on or prior to any date later than the earlier for notice of (1) five (5) renewal set forth in such Revolving Letter of Credit but in any event at least 10 Business Days prior to the Revolving Commitment Termination Date and (2) the date which is 180 days from the date of issuance the proposed renewal of such commercial Revolving Letter of Credit; provided, further, in the event (x) a Funding Default exists or (y) a determination pursuant to Section 2.18 or 2.19 occurs, the Issuing Bank shall not be required to issue any Revolving Letter of Credit and upon fulfillment of the applicable conditions set forth in Article 3 unless the Revolving Issuing Bank has entered into arrangements satisfactory to it and each Borrower to eliminate the Issuing Bank’s risk notified EnergySolutions (with respect a copy to the participation Administrative Agent) on or prior to the date for notice of termination set forth in such Revolving Letter of Credit but in any event at least 5 Business Days prior to the date of automatic renewal of its election not to renew such Revolving Letter of Credit (a “Revolving Notice of Termination”); provided that the terms of each Revolving Letter of Credit that is automatically renewable annually shall (x) require the Revolving Issuing Bank that issued such Revolving Letter of Credit to give the beneficiary named in such Revolving Letter of Credit notice of any Revolving Notice of Termination, (y) permit such beneficiary, upon receipt of such notice, to draw under such Revolving Letter of Credit prior to the date such Revolving Letter of Credit otherwise would have been automatically renewed and (z) not permit the expiration date (after giving effect to any renewal) of such Revolving Letter of Credit in any event to be extended to a date later than 5 days before the Revolving Maturity Date. If either a Revolving Notice of Renewal is not given by EnergySolutions or a Revolving Notice of Termination is given by the Revolving Issuing Bank pursuant to the immediately preceding sentence, such Revolving Letter of Credit shall expire on the date on which it otherwise would have been automatically renewed. Within the limits of the Revolving Letter of Credit Commitment, and subject to the limits referred to above, EnergySolutions may request the issuance of Revolving Letters of Credit of the Defaulting Bankunder this Section 2.1(c), including by Cash Collateralizing such Defaulting Bank’s Pro Rata Share of the repay any Letter of Credit UsageLoans resulting from drawings thereunder pursuant to Section 2.2(f) and request the issuance of additional Revolving Letters of Credit under this Section 2.1(c). EnergySolutions shall be liable for all obligations in respect of each Revolving Letter of Credit issued for the account of any of the Subsidiaries, including, without limitation, the obligations to repay any Letter of Credit Loan in respect thereof under Section 2.4(c).