This excerpt taken from the FL 8-K filed May 21, 2008.
Issuance of Letters of Credit. Each LC Agent agrees, on the terms and conditions set forth in this Agreement, to issue Letters of Credit for the account of any Borrower from time to time during the period from and including the Effective Date to but excluding the date that is 30 days before the Termination Date; provided that, immediately after each such Letter of Credit is issued:
(i) the Aggregate LC Exposure shall not exceed $80,000,000 (of which the aggregate amount attributable to standby Letters of Credit will not exceed $30,000,000);
(ii) the aggregate face amount of all Letters of Credit issued for the account of the Company (other than Letters of Credit with respect to which any Subsidiary Borrower is a co-account party) will not exceed $60,000,000;
(iii) in the case of each Bank, its Outstanding Committed Amount shall not exceed its Commitment; and
(iv) the Total Usage shall not exceed the Total Commitments.
Upon the issuance by any LC Agent of a Letter of Credit pursuant to this subsection (a), such LC Agent shall be deemed, without further action by any party hereto, to have sold to each Bank and each Bank shall be deemed, without further action by any party hereto, to have purchased from such LC Agent, a participation in such Letter of Credit, on the terms set forth in this Section, equal to such Banks Pro Rata Share thereof.