Common use of The L/C Commitment Clause in Contracts

The L/C Commitment. (a) Subject to the terms and conditions hereof, including, without limitation, the satisfaction of the conditions precedent set forth in Section 6 hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in subsection 3.4(a), agrees to issue letters of credit (the “Letters of Credit”) for the account of any Borrower or any Subsidiary or Affiliate of EPC, on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall not issue any Letter of Credit if, after giving effect to such issuance and after giving effect to any Loans requested to be made or Letters of Credit requested to be issued on such date the sum of the Loans and Letter of Credit Outstandings would exceed the lesser of (x) the Commitments and (y) the Borrowing Base then in effect. Each Letter of Credit shall (i) be issued to support obligations of any Borrower or any Subsidiary or Affiliate of EPC, contingent or otherwise, which finance the working capital and business needs of such Borrower or Subsidiary or Affiliate of EPC, and (ii) shall expire no later than the earlier of (x) one year (or such later date agreed to by the Issuing Lender) after the date of issuance and (y) five Business Days prior to the Termination Date, provided that any Letter of Credit with a one-year tenor may provide for the extension thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Letter of Credit shall be denominated in Dollars.

The L/C Commitment. (a) Subject to the terms and conditions hereof, including, without limitation, the satisfaction of the conditions precedent set forth in Section 6 hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in subsection 3.4(a), agrees to issue letters of credit (the “Letters of Credit”"LETTERS OF CREDIT") for the account of any the Borrower or any Subsidiary or Affiliate of EPC, on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided PROVIDED that the Issuing Lender shall not issue any Letter of Credit if, after giving effect to such issuance and after giving effect to any Loans requested to be made or Letters of Credit requested to be issued on such date date, (i) the Letter of Credit Outstanding would exceed $25,000,000 or (ii) the sum of the Revolving Credit Loans and Letter of Credit Outstandings Outstanding would exceed the lesser of (x) the Revolving Credit Commitments and (y) the Borrowing Base then in effect. Each Letter of Credit shall (i) be issued to support obligations of any the Borrower or any Subsidiary or Affiliate of EPCits Subsidiaries, contingent or otherwise, which finance the working capital and business needs of such the Borrower or Subsidiary or Affiliate of EPCand its Subsidiaries, and (ii) shall expire no later than the earlier of (x) one year (or such later date agreed to by the Issuing Lender) after the date of issuance and (y) five Business Days prior to the Termination Date, provided PROVIDED that any Letter of Credit with a one-year tenor may provide for the extension thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). Each Letter of Credit shall be denominated in Dollars.

The L/C Commitment. (a) Subject to the terms and conditions hereof, including, without limitation, the satisfaction of the conditions precedent set forth in Section 6 hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in subsection Section 3.4(a), agrees to issue letters of credit (the “Letters of Credit”) Credit for the account of any the Borrower or any Subsidiary or Affiliate of EPC, on any Business Day during the Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the no Issuing Lender shall not issue any Letter of Credit if, after giving effect to such issuance and after giving effect to any Loans requested to be made issuance, (i) the L/C Obligations would exceed $5,000,000 or Letters of Credit requested to be issued on such date (ii) the sum of the Loans and Letter of Credit Outstandings of all the Lenders would exceed the lesser Commitments of (x) all of the Commitments and (y) the Borrowing Base then in effectLenders. Each Letter of Credit shall (i) be either (x) a Standby L/C issued to provide credit support obligations for insurance and other general corporate requirements of any the Borrower and its Subsidiaries, or any Subsidiary (y) a Trade L/C in respect of the purchase of goods or Affiliate services by the Borrower and its Subsidiaries in the ordinary course of EPC, contingent or otherwise, which finance the working capital and business needs of such Borrower or Subsidiary or Affiliate of EPC, and (ii) shall expire no later than the earlier of (x) one year (or such later Termination Date. No Standby L/C shall have an expiry date agreed to by the Issuing Lender) more than 360 days after the its date of issuance, and no Trade L/C shall have an expiry date more than 120 days after its issuance and no later than five (y5) five Business Days prior to the Termination Date, ; provided that any Letter of Credit with a one-year tenor Standby L/Cs may provide for the extension renewal thereof for additional one-year periods (which shall not to exceed one year, but in any event no event extend beyond later than the date referred to in clause (y) above)Termination Date. Each Letter of Credit shall be denominated in Dollars.