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, letters of credit (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, at any time outstanding, the least of (i) $20,000,000 (the "Letter of Credit Facility"), (ii) the remainder of ------------------------- the 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 Date or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter 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 2.15(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c) and --------------- request the issuance of additional Letters of Credit under this Section 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, letters of credit (including the Existing Letters of Credit, the "Letters ------- of Credit") for the account of the Borrower or any other Obligor 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, at any time outstanding, the least lesser of (i) $20,000,000 100,000,000 (the "Letter of Credit Facility"), ) or (ii) the remainder result of ------------------------- (1) the Borrowing Base Commitment minus (2) the aggregate principal amount of Advances and Reimbursement Obligations 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) ten days prior to the Maturity Date or (ii) one year two years after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the 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 2.15(a2.16(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) hereof and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a2.16(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, letters Financial Letters of credit Credit and Non-Financial Letters of 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 least lesser of (i) $20,000,000 25,000,000 (the "Letter of Credit Facility"), ) and (ii) the remainder of ------------------------- (a) the Borrowing Base minus Commitment MINUS (b) 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 Date or (ii) one year after the date of issuance thereofDate. 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 2.15(a2.16(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a2.16(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, letters of credit (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 Revolving Commitment Maturity Date in an aggregate maximum amount (assuming compliance with all conditions to drawing) not to exceed, at any time outstanding, the least lesser of (i) $20,000,000 5,000,000 (the "Letter of Credit Facility"), ) and (ii) an amount equal to the remainder lesser of ------------------------- the Revolving Credit Commitment and the Borrowing Base minus the aggregate principal ----- amount of Revolving Credit Advances and Swing Line 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 Revolving Commitment Maturity Date or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter 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 2.15(a), repay any Revolving Credit Advances --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c) and --------------- request the --------------- issuance of additional Letters of Credit under this Section 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, letters of credit (the "Letters ------- of CreditLETTERS 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, at any time outstandingoutstanding (less Cash Collateralized Letters of Credit), the least lesser of (i) $20,000,000 5,000,000 (the "Letter of Credit FacilityLETTER OF CREDIT FACILITY"), and (ii) the remainder result of ------------------------- (1) the Borrowing Base minus Revolving Credit Commitment MINUS (2) the aggregate principal amount of Revolving Credit 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 Date or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or 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 SECTION 2.15(a), repay --------------- any Revolving Credit Advances resulting from drawings thereunder pursuant to Section SECTION 2.15(c) and --------------- request the issuance of additional Letters of Credit under this Section SECTION 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, letters of credit (including the Existing Letters of Credit, the "Letters ------- of Credit") for the account of the Borrower or for the joint account of the Borrower and any other Obligor 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, at any time outstanding, the least lesser of (i) $20,000,000 10,000,000 (the "Letter of Credit Facility"), ) and (ii) the remainder sum of ------------------------- (A) the Borrowing Base Revolving Credit Commitment minus (B) the aggregate principal amount of Revolving Credit 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) 45 days before the Revolving Commitment Maturity Date or (ii) one year eighteen months after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the 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 2.15(a2.16(a), repay --------------- any Revolving Credit Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a2.16(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, letters of credit credit, including the Existing Letters of Credit (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 least lesser of (i) $20,000,000 200,000,000 (the "Letter of Credit Facility"), and (ii) the remainder difference of ------------------------- (A) the Borrowing Base Commitment minus (B) 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 Date or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or, 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 2.15(a2.16(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a2.16(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, letters of credit (including the Existing Letters of Credit, the "Letters ------- of Credit") for the account of the Borrower or any other Obligor 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, at any time outstanding, the least lesser of (i) $20,000,000 75,000,000 (the "Letter of Credit Facility"), ) or (ii) the remainder result of ------------------------- (1) the Borrowing Base Commitment minus (2) the aggregate principal amount ----- of Advances and Reimbursement Obligations 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 Date or (ii) one year two years after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or upon satisfaction of the 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 2.15(a2.16(a), repay any --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) hereof --------------- and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a------- 2.16(a). ---------------------- (b)

The Letter of Credit Facility. The Borrower Borrowers, through an Authorized Signatory, may request the Issuing ----------------------------- Bank, on the terms and conditions hereinafter set forth, to issue, and the Issuing Bank shall, if so requested, issue, commercial and standby letters of credit (the "Letters ------- of CreditLETTERS OF CREDIT") for the account of the any 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, at any time outstandingoutstanding (less Cash Collateralized Letters of Credit), the least lesser of (i) $20,000,000 10,000,000 (or the Dollar Equivalent thereof in an Approved Offshore Currency) (the "Letter of Credit FacilityLETTER OF CREDIT FACILITY"), and (ii) the remainder result of ------------------------- (1) the Borrowing Base minus Revolving Credit Commitment MINUS (2) the aggregate principal amount of Revolving Credit Advances then outstanding; provided, however, in no event shall the Dollar Equivalent of all Advances and (iii) Reimbursement Obligations outstanding in Approved Offshore Currencies exceed the CommitmentApproved Offshore Currency Borrowing Limit. 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 Date or (ii) one year after the date of issuance thereof. Immediately upon the issuance of each Letter of Credit (or 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 Borrowers 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 in Dollars (or the Dollar Equivalent thereof in an Approved Offshore Currency) 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 Borrowers may request the issuance of Letters of Credit under this Section SECTION 2.15(a), repay --------------- any Revolving Credit Advances resulting from drawings thereunder pursuant to Section SECTION 2.15(c) and --------------- request the issuance of additional Letters of Credit under this Section SECTION 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, letters Financial Letters of credit Credit and Non-Financial Letters of 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 least lesser of (i) $20,000,000 25,000,000 (the "Letter of Credit Facility"), ) and (ii) the remainder of ------------------------- (A) the Borrowing Base minus Commitment MINUS (B) 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 Date or (ii) one year after the date of issuance thereofDate. 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 2.15(a2.16(a), repay --------------- any Advances resulting from drawings thereunder pursuant to Section 2.15(c2.16(c) and --------------- request the issuance of additional Letters of Credit under this Section 2.15(a2.16(a). ---------------.