Common use of Line of Credit Commitment; Use of Proceeds Clause in Contracts

Line of Credit Commitment; Use of Proceeds. (1) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Borrower from time to time on and after the Closing Date, but prior to the Line of Credit Termination Date, Line of Credit Loans in an aggregate amount outstanding at any time not to exceed such Lender's Line of Credit Commitment. Borrower shall be entitled to repay and reborrow Line of Credit Loans in accordance with the provisions hereof. (2) Each Line of Credit Loan shall, at the option of Borrower, be made or continued as, or converted into, part of one or more Borrowings that shall consist entirely of Syndicate Loans (comprised of Base Rate Advances or Eurodollar Advances) or Competitive Bid Loans. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Eurodollar Advances shall not be less than $2,000,000 or a greater integral multiple of $100,000. The aggregate principal amount of each Borrowing of Competitive Bid Loans shall not be less than $2,000,000. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Base Rate Advances shall not be less than $250,000 or a greater integral multiple of $10,000. At no time shall the number of Borrowings outstanding under this Article II exceed ten; PROVIDED that, for the purpose of determining the number of Borrowings outstanding and the minimum amount for Borrowings resulting from conversions or continuations, all Borrowings of Base Rate Advances under this Facility shall be considered as one Borrowing. The parties hereto agree that (i) the aggregate principal balance of the Line of Credit Loans (including the Competitive Bid Loans) of the Lenders as a group shall not exceed the aggregate principal amounts of all Line of Credit Commitments, (ii) no Lender shall be obligated to make Syndicate Loans in excess of the Line of Credit Commitment of such Lender, (iii) no Lender shall be obligated hereunder to extend Competitive Bid Loans or to make quotes for such Line of Credit Loans and (iv) a Lender may elect, in its discretion, to extend Competitive Bid Loans which, either alone or together with the Syndicate Loans of such Lender, exceed the Line of Credit Commitment of such Lender. (3) The proceeds of the Line of Credit Loans shall be used solely to provide liquidity for the payment of commercial paper issued by Borrower from time to time pursuant to the Borrower's unrated commercial paper program with SunTrust Bank, Atlanta or any of its Affiliates. Line of Credit Loans plus the amount of all commercial paper issued by Borrower may not at any one time exceed seventy-five million dollars ($75,000,000).

Line of Credit Commitment; Use of Proceeds. (1) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Borrower from time to time on and after the Closing Date, but prior to the Line of Credit Termination Date, Line of Credit Loans in an aggregate amount outstanding at any time not to exceed such Lender's Line of Credit Commitment. Borrower shall be entitled to repay and reborrow Line of Credit Loans in accordance with the provisions hereof. (2) Each Line of Credit Loan shall, at the option of Borrower, be made or continued as, or converted into, part of one or more Borrowings that shall consist entirely of Syndicate Loans (comprised of Base Rate Advances or Eurodollar Advances) or Competitive Bid Loans. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Eurodollar Advances shall not shallnot be less than $2,000,000 or a greater integral multiple of $100,000. The aggregate principal amount of each Borrowing of Competitive Bid Loans shall not be less than $2,000,000. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Base Rate Advances shall not be less than $250,000 or a greater integral multiple of $10,000. At no time shall the number of Borrowings outstanding under this Article II exceed ten; PROVIDED provided that, for the purpose of determining the number of Borrowings outstanding and the minimum amount for Borrowings resulting from conversions or continuations, all Borrowings of Base Rate Advances under this Facility shall be considered as one Borrowing. The parties hereto agree that (i) the aggregate principal balance of the Line of Credit Loans (including the Competitive Bid Loans) of the Lenders as a group shall not exceed the aggregate principal amounts of all Line of Credit Commitments, (ii) no Lender shall be obligated to make Syndicate Loans in excess of the Line of Credit Commitment of such Lender, (iii) no Lender shall be obligated hereunder to extend Competitive Bid Loans or to make quotes for such Line of Credit Loans and (iv) a Lender may elect, in its discretion, to extend Competitive Bid Loans which, either alone or together with the Syndicate Loans of such Lender, exceed the Line of Credit Commitment of such Lender. (3) The proceeds of the Line of Credit Loans shall be used solely to provide liquidity for the payment of commercial paper issued by Borrower from time to time pursuant to the Borrower's unrated commercial paper program with SunTrust Bank, Atlanta or any of its Affiliates. Line of Credit Loans plus the amount of all commercial paper issued by Borrower may not at any one time exceed seventy-five million dollars ($75,000,000).

Line of Credit Commitment; Use of Proceeds. (1a) Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make to Borrower from time to time on and after the Closing Date, but prior to the Line of Credit Termination Date, Line of Credit Loans in an aggregate amount outstanding at any time not to exceed such Lender's Line of Credit Commitment. Borrower shall be entitled to repay and reborrow Line of Credit Loans in accordance with the provisions hereof. (2b) Each Line of Credit Loan shall, at the option of Borrower, be made or continued as, or converted into, part of one or more Borrowings that shall consist entirely of Syndicate Loans (comprised of Base Rate Advances or Eurodollar Advances) or Competitive Bid Loans. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Eurodollar Advances shall not be less than $2,000,000 or a greater integral multiple of $100,000. The aggregate principal amount of each Borrowing of Competitive Bid Loans shall not be less than $2,000,000. The aggregate principal amount of each Borrowing of Line of Credit Loans comprised of Base Rate Advances shall not be less than $250,000 or a greater integral multiple of $10,000. At no time shall the number of Borrowings outstanding under this Article II exceed ten; PROVIDED provided that, for the purpose of determining the number of Borrowings outstanding and the minimum amount for Borrowings resulting from conversions or continuations, all Borrowings of Base Rate Advances under this Facility shall be considered as one Borrowing. The parties hereto agree that (i) the aggregate principal balance of the Line of Credit Loans (including the Competitive Bid Loans) of the Lenders as a group shall not exceed the aggregate principal amounts of all Line of Credit Commitments, (ii) no Lender shall be obligated to make Syndicate Loans in excess of the Line of Credit Commitment of such Lender, (iii) no Lender shall be obligated hereunder to extend Competitive Bid Loans or to make quotes for such Line of Credit Loans and (iv) a Lender may elect, in its discretion, to extend Competitive Bid Loans which, either alone or together with the Syndicate Loans of such Lender, exceed the Line of Credit Commitment of such Lender. (3c) The proceeds of the Line of Credit Loans shall be used solely to provide liquidity for the payment of commercial paper issued by Borrower from time to time pursuant to the Borrower's unrated commercial paper program with SunTrust Bank, Atlanta or any of its Affiliates. Line of Credit Loans plus the amount of all commercial paper issued by Borrower may not at any one time exceed seventy-five million dollars ($75,000,000).