Common use of Sublimits Clause in Contracts

Sublimits. Bank shall have no obligation (a) to issue any --------- Letters of Credit, if the aggregate outstanding undrawn amount of all Letters of Credit would exceed $500,000.00; (b) to issue any Letter of Credit, if a Default or Event of Default has occurred; or (c) to issue any Letter of Credit if the Revolving Credit Facility Usage plus the amount of such new Letter of Credit to be issued exceeds (i) the Borrowing Base (as reduced by all Reserves), or (ii) the Maximum Revolving Credit Facility Amount.

Sublimits. Bank shall have no obligation (a) to issue any --------- Letters Letter of Credit, if the aggregate outstanding undrawn amount of all Letters of Credit would exceed $500,000.003,000,000 (the “Letter of Credit Sublimit”); (b) to issue any Letter of Credit, if a Default or Event of Default has occurred; or (c) to issue any Letter of Credit if the Revolving Credit Facility Usage usage plus the amount of such new Letter of Credit to be issued exceeds (i) the Borrowing Base (as reduced by all Reserves), or (ii) the Maximum Revolving Credit Facility Amount.

Sublimits. Bank Lender shall have no obligation (a) to issue any --------- Letters Letter of Credit, if (a) the aggregate outstanding undrawn amount of all Letters of Credit would exceed $500,000.001,000,000 (the “Letter of Credit Sublimit”); (b) to issue any Letter of Credit, if a Default or Event of Default has occurred; or (c) to issue any Letter of Credit if the Revolving Credit Facility Usage plus including the amount of such new Letter of Credit to be issued exceeds issued, as applicable, would exceed the lesser of (i) the Borrowing Base (as reduced by all Reserves)Base, or (ii) the Maximum Revolving Credit Facility Amount.

Sublimits. Bank shall have no obligation (a) to issue any --------- Letters of Credit, if the aggregate outstanding undrawn amount of all Letters of Credit would exceed $500,000.001,000,000; (b) to issue any Letter of Credit, if a Default or an Event of Default has occurredoccurred and is continuing; or (c) to issue any Letter of Credit if the Revolving Credit Facility Usage plus the amount of such new Letter of Credit to be issued exceeds (i) the Borrowing Base (as reduced by all Reserves), or (ii) the Maximum Revolving Credit Facility AmountAmount (the "Letter of Credit Sublimit").