Common use of The Letter of Credit Facility Clause in Contracts

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters of Credit and Non-Financial Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed at any time outstanding the lesser of (i) $25,000,000 (the "Letter of Credit Facility") and (ii) the remainder of (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 the Maturity Date. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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 request the issuance of additional Letters of Credit under this Section 2.16(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of CreditLETTERS OF CREDIT") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Facility A Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit FacilityLETTER OF CREDIT FACILITY") and (ii) the remainder Borrowing Base, less the sum of (a) the Commitment MINUS (bA) the aggregate principal amount of Facility A Advances then outstanding plus (B) the aggregate principal amount of Swing Line Advances outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Facility A Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(aSECTION 2.15(a), repay any Facility A Advances resulting from drawings thereunder pursuant to Section 2.16(cSECTION 2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(aSECTION 2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial letters of credit (including the Existing Letters of Credit and Non-Financial Letters of Credit (collectivelyCredit, the "Letters of Credit") for the account of the Borrower or any Subsidiary from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 100,000,000 (the "Letter of Credit Facility") and or (ii) the remainder result of (a1) the Commitment MINUS minus (b2) the aggregate principal amount of Advances and Reimbursement Obligations then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) ten days prior to the Maturity DateDate or (ii) two years after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the Agreement Date, conditions precedent set forth in Sections 3.1 and 3.2 hereof with respect to the Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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) hereof and request the issuance of additional Letters of Credit under this Section 2.16(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial letters of credit (including the Existing Letters of Credit and Non-Financial Letters of Credit (collectivelyCredit, the "Letters of Credit") for the account of the Borrower or for the joint account of the Borrower and any of its Subsidiaries from time to time on any Business Day from the date of the initial Advance until the Revolving Commitment Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 10,000,000 (the "Letter of Credit Facility") and (ii) the remainder sum of (aA) the Revolving Credit Commitment MINUS minus (bB) the aggregate principal amount of Revolving Credit Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) 45 days before the Revolving Commitment Maturity DateDate or (ii) eighteen months after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the Agreement Date, conditions precedent set forth in Sections 3.1 and 3.2 hereof with respect to the Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a), repay any Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.16(c) and request the issuance of additional Letters of Credit under this Section 2.16(a).

The Letter of Credit Facility. The Borrower may request the Issuing ----------------------------- Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Revolving Commitment Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit Facility") and (ii) an amount equal to the remainder lesser of (a) the Revolving Credit Commitment MINUS (b) and the Borrowing Base minus the aggregate principal ----- amount of Revolving Credit Advances and Swing Line Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Revolving Commitment Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Revolving Credit Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Revolving Credit Advances --------------- resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and request the --------------- issuance of additional Letters of Credit under this Section 2.16(a2.15(a).. ---------------

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of CreditLETTERS OF CREDIT") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding (less Cash Collateralized Letters of Credit), the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit FacilityLETTER OF CREDIT FACILITY") ), and (ii) the remainder result of (a1) the Revolving Credit Commitment MINUS (b2) the aggregate principal amount of Revolving Credit Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon on the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(aSECTION 2.15(a), repay any Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.16(cSECTION 2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(aSECTION 2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters of Credit and Non-Financial Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed at any time outstanding the lesser of (i) $25,000,000 (the "Letter of Credit Facility") and (ii) the remainder of (aA) the Commitment MINUS (bB) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the Maturity Date. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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 request the issuance of additional Letters of Credit under this Section 2.16(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial one or more Letters of Credit and Non-Financial Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower and/or any of its Subsidiaries (provided that, if any Letter of Credit is issued for the account of any Subsidiary, the Borrower shall be jointly and severally liable with respect to such Letter of Credit pursuant to the terms of the Letter of Credit Agreement (as defined below) governing such Letter of Credit) from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 50,000,000 (the "Letter of Credit Facility") and (ii) the remainder of (a) an amount equal to the Commitment MINUS (b) minus the aggregate principal amount of Revolving Credit Advances and Swing Line Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) ten days prior to the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the Agreement Date, conditions precedent set forth in Sections 3.1 and 3.2 hereof with respect to the Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) hereof and request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit Facility") ), and (ii) an amount equal to the remainder lesser of (aA) the sum of the Commitment MINUS (b) minus the aggregate principal amount of Advances and Reimbursement Obligations then outstanding and (B) the sum of the Borrowing Base minus the aggregate principal amount of Advances and Reimbursement Obligations then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing ----------------------------- Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of ---------- Credit") for the account of the Borrower from time to time on any Business Day ------ from the date of the initial Advance until the Facility A Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit Facility") and (ii) the remainder Borrowing Base, less the sum of (aA) -------------------------- the Commitment MINUS aggregate principal amount of Facility A Advances then outstanding plus (bB) the aggregate principal amount of Swing Line Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Facility A Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Facility A Advances resulting from drawings --------------- thereunder pursuant to Section 2.16(c2.15(c) and request the issuance of additional --------------- Letters of Credit under this Section 2.16(a2.15(a).. ---------------

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of Credit") for the account of the Borrower or any other Obligor from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser least of (i) $25,000,000 20,000,000 (the "Letter of Credit Facility") and ), (ii) the remainder of (a) the Commitment MINUS (b) Borrowing Base minus the aggregate principal amount of Advances then outstandingoutstanding and the aggregate amount of all drawings under Letter(s) of Credit not theretofore reimbursed by the Borrower, and (iii) the Commitment. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters of Credit and Non-Financial Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 5,000,000 (the "Letter of Credit Facility") and (ii) the remainder of (a) the Commitment MINUS (b) Borrowing Base, less the aggregate principal amount of all Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Revolving Commitment Maturity Date in an aggregate maximum drawable amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser of (i) $25,000,000 2,000,000 (or the U.S. dollar equivalent thereof in foreign currencies acceptable to the Issuing Bank) (the "Letter of Credit Facility") and (ii) an amount equal to the remainder of (a) the Revolving Credit Commitment MINUS (b) minus the aggregate principal amount of Revolving Credit Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Revolving Commitment Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay any Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).

The Letter of Credit Facility. The Borrower may request the Issuing ----------------------------- Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters ------- of Credit") for the account of the Borrower or any other Obligor from time --------- to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed exceed, at any time outstanding outstanding, the lesser least of (i) $25,000,000 20,000,000 (the "Letter of Credit Facility") and ), (ii) the remainder of (a) ------------------------- the Commitment MINUS (b) Borrowing Base minus the aggregate principal amount of Advances then outstanding, and (iii) the Commitment. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (x) such Lender's Specified Percentage times (y) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.16(a2.15(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.16(c2.15(c) and --------------- request the issuance of additional Letters of Credit under this Section 2.16(a2.15(a).. ---------------

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial credit, including the Existing Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed at any time outstanding the lesser of (i) $25,000,000 200,000,000 (the "Letter of Credit Facility") ), and (ii) the remainder difference of (aA) the Commitment MINUS minus (bB) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Dateor, with respect to the Existing Letters of Credit, upon satisfaction of the conditions set forth in Sections 3.1 and 3.2 of this Agreement), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (xi) such Lender's Specified Percentage of the Commitment times (yii) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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 request the issuance of additional Letters of Credit under this Section 2.16(a). During the term of this Agreement, provided that no Default or Event of Default then exists and subject to the same conditions for the issuance of a Letter of Credit set forth in Section 3.2 hereof, the Issuing Bank may at the Borrower's option, automatically renew any expiring Letters of Credit for a period of time not to exceed the earlier of (x) five (5) days prior to the Maturity Date or (y) one year after the date of issuance thereof.

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial Letters letters of Credit and Non-Financial Letters of Credit credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed at any time outstanding the lesser of (i) $25,000,000 100,000,000 (the "Letter of Credit Facility") ), and (ii) the remainder difference of (aA) the Commitment MINUS minus (bB) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Date, with respect to Existing Letters of Credit), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (xi) such Lender's Specified Percentage of the Commitment times (yii) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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 request the issuance of additional Letters of Credit under this Section 2.16(a). During the term of this Agreement, provided that no Default or Event of Default then exists and subject to the same conditions for the issuance of a Letter of Credit set forth in Section 3.2 hereof, the Issuing Bank may at Borrowerns option, automatically renew any expiring Letters of Credit for a period of time not to exceed the earlier of (x)five (5) days prior to the Maturity Date or (y) one year after the date of issuance thereof.

The Letter of Credit Facility. The Borrower may request the Issuing Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, Financial letters of credit (such letters of credit together with the Existing Letters of Credit and Non-Financial Letters of Credit (collectively, the "Letters of Credit") for the account of the Borrower from time to time on any Business Day from the date of the initial Advance until the Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed at any time outstanding the lesser of (i) $25,000,000 200,000,000 (the "Letter of Credit Facility") ), and (ii) the remainder difference of (aA) the Commitment MINUS minus (bB) the aggregate principal amount of Advances then outstanding. No Letter of Credit shall have an expiration date (including all rights of renewal) later than the earlier of (i) the Maturity DateDate or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon the Agreement Dateor, with respect to the Existing Letters of Credit, upon satisfaction of the conditions set forth in Sections 3.1 and 3.2 of this Agreement), the Issuing Bank shall be deemed to have sold and transferred to each Lender, and each Lender shall be deemed to have purchased and received from the 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 Borrower under this Agreement in respect thereof in an amount equal to the product of (xi) such Lender's Specified Percentage of the Commitment times (yii) the maximum amount available to be drawn under such Letter of Credit (assuming compliance with all conditions to drawing). Within the limits of the Letter of Credit Facility, and subject to the 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 request the issuance of additional Letters of Credit under this Section 2.16(a). During the term of this Agreement, provided that no Default or Event of Default then exists and subject to the same conditions for the issuance of a Letter of Credit set forth in Section 3.2 hereof, the Issuing Bank may at the Borrower's option, automatically renew any expiring Letters of Credit for a period of time not to exceed the earlier of (x) five (5) days prior to the Maturity Date or (y) one year after the date of issuance thereof.