Common use of The Letter of Credit Facilities Clause in Contracts

The Letter of Credit Facilities. (a) On the terms and conditions set forth herein (i) the Issuing Bank agrees (A) from time to time on any Business Day during the period from the Effective Date to the Termination Date (or such earlier date as the Revolving Commitments of all Banks shall have terminated in accordance with the terms hereof) to Issue Letters of Credit for the account of a Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SECTIONS 3.2(c) and 3.2(d), and (B) to honor drafts drawn under and in strict compliance with the terms and conditions of Letters of Credit; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of a Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Bank shall be obligated to participate in, any Letter of Credit if, as of the date of Issuance of such Letter of Credit (the "Issuance Date") (1) the Dollar Equivalent Amount of the Revolving Loan Outstandings exceeds or would exceed the combined Revolving Commitments minus the Currency Hedge Utilization, or (2) the Dollar Equivalent Amount of the Effective Amount of L/C Obligations exceeds or would exceed the L/C Commitment, or (3) the Dollar Equivalent Amount of all Revolving Loan Outstandings and Term Loan Outstandings in Offshore Currencies exceeds or would exceed the Total Offshore Currency Sublimit. Within the foregoing limits, and subject to the other terms and conditions hereof, a Company's ability to obtain Letters of Credit shall be fully revolving and, accordingly, a Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.

The Letter of Credit Facilities. (a) On The Borrower may request an Issuing Bank, on the terms and conditions hereinafter set forth herein (i) the forth, to issue, and an Issuing Bank agrees shall, if so requested, issue, letters of credit (Athe "Letters of Credit") that are Permitted Letters of Credit for the account of the Borrower from time to time on any Business Day during the period from the Effective Agreement Date until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed (together with all other Letters of Credit issued by Issuing Banks) at any time outstanding the lesser of (i) an amount equal to $30,000,000 or (ii) an amount equal to (A) the Commitment minus (B) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than ten days prior to the Termination Maturity Date, except that any Letter of Credit may have an automatic renewal provision that such Letter of Credit must permit the Issuing Bank to prevent any renewal beyond the Maturity Date (by giving prior notice to the beneficiary thereof; provided, however, if any such renewal, increase, extension or issuance extends beyond the Maturity Date, the Borrower shall cash collateralize, to the extent required by any of the Lenders, the full face amount of each such earlier date as the Revolving Commitments Letter of all Banks shall have terminated Credit in accordance with the terms hereof) to Issue Letters of Credit for the account of a Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SECTIONS 3.2(cSection 2.16(g) and 3.2(d), and (B) to honor drafts drawn under and in strict compliance with this Agreement. Immediately upon the terms and conditions issuance of Letters each Letter of Credit; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of a Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Bank shall be obligated to participate in, any issuing such Letter of Credit ifshall be deemed to have sold and transferred to each Lender, as and each Lender shall be deemed to have purchased and received from such Issuing Bank, in each case irrevocably and without any further action by any party, an undivided interest and participation in such Letter of Credit, each drawing thereunder and the obligations of the date Borrower under this Agreement in respect thereof in an amount equal to the product of Issuance of (x) such Lender's Specified Percentage and (y) the maximum amount available to be drawn under such Letter of Credit (the "Issuance Date") (1) the Dollar Equivalent Amount of the Revolving Loan Outstandings exceeds or would exceed the combined Revolving Commitments minus the Currency Hedge Utilization, or (2) the Dollar Equivalent Amount of the Effective Amount of L/C Obligations exceeds or would exceed the L/C Commitment, or (3) the Dollar Equivalent Amount of assuming compliance with all Revolving Loan Outstandings and Term Loan Outstandings in Offshore Currencies exceeds or would exceed the Total Offshore Currency Sublimitconditions to drawing). Within the foregoing limitslimits of the Letter of Credit Facility, and subject to the other terms limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a), repay any Advances resulting from drawings thereunder pursuant to Section 2.16(c) and conditions request the issuance of additional Letters of Credit under this Section 2.16(a). Upon the mandatory reduction of the Commitment pursuant to Section 2.6(b) hereof, a Company's ability to obtain the Existing Letters of Credit shall be fully revolving anddeemed to have been issued pursuant hereto, accordinglyand from and after such mandatory reduction, a Company may, during the foregoing period, obtain Letters of Credit shall be subject to replace Letters of Credit which have expired or which have been drawn upon and reimbursedgoverned by the terms hereof.

The Letter of Credit Facilities. (a) On The Borrower may request an Issuing Bank, on the terms and conditions hereinafter set forth herein (i) the forth, to issue, and an Issuing Bank agrees shall, if so requested, issue, letters of credit (Athe "Letters of Credit") for the account of the Borrower from time to time on any Business Day during the period from the Effective Agreement Date until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to the Termination Date drawing) not to exceed (or such earlier date as the Revolving Commitments of together with all Banks shall have terminated in accordance with the terms hereof) to Issue other Letters of Credit for the account of a Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SECTIONS 3.2(cIssuing Banks) and 3.2(d), and at any time outstanding the lesser of (i) an amount equal to $25,000,000 or (ii) an amount equal to (A) the Commitment minus (B) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than ten days prior to honor drafts drawn under and in strict compliance with the terms and conditions Maturity Date. Immediately upon the issuance of Letters each Letter of Credit; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of a Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Bank shall be obligated to participate in, any issuing such Letter of Credit ifshall be deemed to have sold and transferred to each Lender, as and each Lender shall be deemed to have purchased and received from such Issuing Bank, in each case irrevocably and without any further action by any party, an undivided interest and participation in such Letter of Credit, each drawing thereunder and the obligations of the date Borrower under this Agreement in respect thereof in an amount equal to the product of Issuance of (x) such Lender's Specified Percentage and (y) the maximum amount available to be drawn under such Letter of Credit (the "Issuance Date") (1) the Dollar Equivalent Amount of the Revolving Loan Outstandings exceeds or would exceed the combined Revolving Commitments minus the Currency Hedge Utilization, or (2) the Dollar Equivalent Amount of the Effective Amount of L/C Obligations exceeds or would exceed the L/C Commitment, or (3) the Dollar Equivalent Amount of assuming compliance with all Revolving Loan Outstandings and Term Loan Outstandings in Offshore Currencies exceeds or would exceed the Total Offshore Currency Sublimitconditions to drawing). Within the foregoing limitslimits of the Letter of Credit Facility, and subject to the other terms limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a), repay any Advances resulting from drawings thereunder pursuant to Section 2.16(c) and conditions request the issuance of additional Letters of Credit under this Section 2.16(a). Upon the mandatory reduction of the Commitment pursuant to Section 2.6(b) hereof, a Company's ability to obtain the Existing Letters of Credit shall be fully revolving anddeemed to have been issued pursuant hereto, accordinglyand from and after such mandatory reduction, a Company may, during the foregoing period, obtain Letters of Credit shall be subject to replace Letters of Credit which have expired or which have been drawn upon and reimbursedgoverned by the terms hereof.

The Letter of Credit Facilities. (a) On the terms and conditions set forth herein (i) the Issuing Bank agrees in reliance upon the agreements of the other Lenders set forth in ARTICLE III (A) from time to time on any Business Day during the period from the Effective Date to the Termination Date (or such earlier date as the Revolving Commitments of all Banks shall have terminated in accordance with the terms hereof) to Issue Letters of Credit for the account of a Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SECTIONS 3.2(c) and 3.2(d), and (B) to honor drafts drawn under and in strict compliance with the terms and conditions of Letters of Credit; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of a Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Bank shall be obligated to participate in, any Letter of Credit if, as of the date of Issuance of such Letter of Credit (the "Issuance Date") (1) the Dollar Equivalent Amount of the Revolving Loan Outstandings exceeds or would exceed the combined Revolving Commitments minus the Currency Hedge UtilizationCommitments, or (2) the Dollar Equivalent Amount of the Effective Amount of L/C Obligations exceeds or would exceed the L/C Commitment, or (3) the Dollar Equivalent Amount of all Revolving Loan Outstandings and Term Loan Outstandings in Offshore Currencies exceeds or would exceed the Total Offshore Currency Sublimit. Within the foregoing limits, and subject to the other terms and conditions hereof, a Company's ability to obtain Letters of Credit shall be fully revolving and, accordingly, a Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.

The Letter of Credit Facilities. (a) On the terms and conditions set forth herein (i) the Issuing Bank agrees (A) from time to time on any Business Day during the period from the Effective Date to the Termination Date (or such earlier date as the Revolving Commitments of all Banks shall have terminated in accordance with the terms hereof) to Issue Letters of Credit for the account of a Company, and to amend or renew Letters of Credit previously issued by it, in accordance with SECTIONS Sections 3.2(c) and 3.2(d), and (B) to honor drafts drawn under and in strict compliance with the terms and conditions of Letters of Credit; and (ii) the Banks severally agree to participate in Letters of Credit Issued for the account of a Company; provided, that the Issuing Bank shall not be obligated to Issue, and no Bank shall be obligated to participate in, any Letter of Credit if, as of the date of Issuance of such Letter of Credit (the "Issuance Date") (1) the Dollar Equivalent Amount of the Revolving Loan Outstandings exceeds or would exceed the combined Revolving Commitments minus the Currency Hedge UtilizationCommitments, or (2) the Dollar Equivalent Amount of the Effective Amount of L/C Obligations exceeds or would exceed the L/C Commitment, or (3) the Dollar Equivalent Amount of all Revolving Loan Outstandings and Term Loan Outstandings in Offshore Currencies exceeds or would exceed the Total Offshore Currency Sublimit. Within the foregoing limits, and subject to the other terms and conditions hereof, a Company's ability to obtain Letters of Credit shall be fully revolving and, accordingly, a Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit which have expired or which have been drawn upon and reimbursed.