Available Letter of Credit Amount definition

Available Letter of Credit Amount means, as of any particular time, an amount equal to the lesser of (a) the Letter of Credit Commitment at such time less the aggregate amount of all Letter of Credit Obligations then outstanding or (b) Availability at such time minus the Availability Block, to the extent in effect at such time of determination.
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Available Letter of Credit Amount means, as of any particular time, an amount equal to the lesser of (a) the Aggregate Letter of Credit Commitment at such time less the aggregate amount of all Letter of Credit Obligations then outstanding and (b) Availability at such time.
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Available Letter of Credit Amount means, as of any particular time, an amount equal to the lesser of (a) $5,000,000, and (b) the Available Revolving Loan Commitment.
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Examples of Available Letter of Credit Amount in a sentence

  • Subject to the terms and conditions of this Agreement, the Issuing Bank agrees to issue Letters of Credit for the account of the Borrowers, from time to time on any Business Day prior to the date thirty (30) days prior to the Maturity Date, pursuant to Section 2.15 in an outstanding face amount not to exceed, with respect to the issuance of any individual Letter of Credit as of any Business Day, the Available Letter of Credit Amount as of such Business Day.

  • Borrower shall not submit any Letter of Credit Application to Lender for a Letter of Credit in a face amount that, if issued, would cause the aggregate face amounts of all outstanding Letters of Credit to exceed the Available Letter of Credit Amount.

  • Subject to the terms and conditions of this Agreement, the Issuing Bank agrees to issue Letters of Credit for the account of Borrowers, from time to time on any Business Day prior to the date thirty (30) days prior to the Maturity Date, pursuant to Section 2.15 in an outstanding face amount not to exceed, with respect to the issuance of any individual Letter of Credit as of any Business Day, the Available Letter of Credit Amount as of such Business Day.

  • From and after the date of such Special Drawing the term "Available Letter of Credit Amount" with --------------------------------- respect to the Servicer Letter of Credit shall be deemed to refer to the amount on deposit in the Escrow Account (excluding any investment earnings thereon).

  • If the Transferor elects to instruct the --------------- Trustee to make a Special Drawing pursuant to Section 4.01B(b) above, the Transferor shall provide two Business Days notice to the Letter of Credit Bank and shall instruct the Trustee in writing to promptly draw upon the Transferor Letter of Credit to the full extent of the Available Letter of Credit Amount thereunder and deposit such amount into the Transferor Escrow Account (as defined below).


More Definitions of Available Letter of Credit Amount

Available Letter of Credit Amount means, with respect to any --------------------------------- Letter of Credit on any date of determination, an amount equal to the amount available to be drawn under such Letter of Credit on such date of determination.
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Available Letter of Credit Amount. The amount equal to the lesser of (a) the Letter of Credit Maximum Amount, or (b) the Available Revolving Credit Amount.
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Available Letter of Credit Amount at any time, the maximum amount available to be drawn under a Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).
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Available Letter of Credit Amount means, as of any time of determination, an amount equal to the lesser of (a) the LC Commitment at such time less the LC Exposure then outstanding or (b) the Aggregate Revolving Commitment Amount on such date less the aggregate Revolving Credit Exposures on such date.
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Available Letter of Credit Amount. “Interest Rate Margin”, “Letter of Credit Commitment”, “Maturity Date”, and “Revolving Loan Commitment”, in their entirety and inserting the following definitions in lieu thereof:
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Available Letter of Credit Amount means, as of any particular time, an amount equal to the lesser of
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Available Letter of Credit Amount means, at any time, the aggregate --------------------------------- undrawn face amount of all Letters of Credit at such time less such portion thereof, if any, that would not be available to be drawn at such time as a result of the requirement set forth in Section 1.02(d) that drawings under Letters of Credit be made on a pro rata basis.
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