Common use of Availability of Letters of Credit Clause in Contracts

Availability of Letters of Credit. Borrower may from time to time --------------------------------- request that Revolving Lenders make a Letter of Credit available to Borrower upon the terms and conditions set forth in this Agreement; provided that no letter of credit may be issued for -------- purposes of payment of workers compensation insurance premiums, and provided -------- that the format of the Letter of Credit and the identity of the beneficiary are reasonably acceptable to the issuing bank. Upon and subject to the terms and conditions hereof, Revolving Lenders shall make available to Borrower such Letter of Credit. Borrower shall request the issuance of a Letter of Credit by written notice to Agent not less than five (5) Business Days prior to the requested date of issuance; provided, that Borrower shall not request a Letter of Credit and Revolving Lenders shall not cause the issuance of a Letter of Credit if doing so would cause the aggregate amount of all Letter of Credit Obligations at any one time outstanding (whether or not then due and payable) to exceed Ten Million Dollars ($10,000,000) or if the issuance of such Letter of Credit would cause the aggregate of all Letter of Credit Obligations, all outstanding advances under the Swingline Loan, and the Revolving Loan to exceed the Maximum Revolving Indebtedness; and provided -------- further, that no Letter of Credit shall have an expiry date which is later than ------- (x) three hundred sixty-five (365) days following the date of issuance thereof, or (y) the Revolving Loan Maturity Date. Bank of America shall be issuer of all Letters of Credit; provided, that the Revolving Lenders may by unanimous vote at -------- any time select another Revolving Lender to be such issuer, whereupon such other Revolving Lender shall be the issuer of all Letters of Credit issued after such selection (the issuer being the "Letter of Credit Bank"). At the time of each request by Borrower that a Letter of Credit be issued, the Letter of Credit Bank, at its option, may require Borrower to execute and deliver to the Letter of Credit Bank an application for such Letter of Credit in the form customarily prescribed by the Letter of Credit Bank to issue Letters of Credit (the "Applications") or such other documents as the Letter of Credit Bank may reasonably require with respect to the issuance of such Letters of Credit. This Agreement supersedes any terms of the Applications which are inconsistent with the terms hereof, including terms relating to the reimbursement of draws, payment of fees, and defaults.

Availability of Letters of Credit. Borrower may from time to time --------------------------------- request that Revolving Lenders make a Letter of Credit available to Borrower upon the terms and conditions set forth in this Agreement; provided that no -------- letter of credit may be issued for -------- purposes of payment of workers compensation insurance premiums, and provided -------- that the format of the Letter of Credit and the identity of the beneficiary are reasonably acceptable to the issuing bank. Upon and subject to the terms and conditions hereof, Revolving Lenders shall make available to Borrower such Letter of Credit. Borrower shall request the issuance of a Letter of Credit by written notice to Agent not less than five (5) Business Days prior to the requested date of issuance; provided, that Borrower -------- shall not request a Letter of Credit and Revolving Lenders shall not cause the issuance of a Letter of Credit if doing so would cause the aggregate amount of all Letter of Credit Obligations at any one time outstanding (whether or not then due and payable) to exceed Ten Million Dollars ($10,000,000) or if the issuance of such Letter of Credit would cause the aggregate of all Letter of Credit Obligations, all outstanding advances under the Swingline Loan, Obligations and the Revolving Loan to exceed the lesser of (i) an amount equal to the Maximum Revolving IndebtednessLoan minus the aggregate amount of Grower Payables outstanding from ----- time to time, or (ii) the Borrowing Base; and provided -------- further, that no Letter -------- ------- of Credit shall have an expiry date which is later than ------- (x) three hundred sixty-sixty- five (365) days following the date of issuance thereof, or (y) the Revolving Loan Maturity Date. Bank of America shall be issuer of all Letters of Credit; provided, that the Revolving Lenders may by unanimous vote at -------- any time select -------- another Revolving Lender to be such issuer, whereupon such other Revolving Lender shall be the issuer of all Letters Letter of Credit issued after such selection (the issuer being the "Letter of Credit Bank"). At the time of each request by Borrower that a Letter of Credit be issued, the Letter of Credit Bank, at its option, may require Borrower to execute and deliver to the Letter of Credit Bank an application for such Letter of Credit in the form customarily prescribed by the Letter of Credit Bank to issue Letters of Credit (the "Applications") or such other documents as the Letter of Credit Bank may reasonably require with respect to the issuance of such Letters of Credit. This Agreement supersedes any terms of the Applications which are inconsistent with the terms hereof, including terms relating to the reimbursement of draws, payment of fees, and defaults.