Letter of Credit Subline definition

Letter of Credit Subline means $5,000,000.

Letter of Credit Subline means $25,000,000, which amount shall include the Alternative Currency Letter of Credit Sublimit.

Letter of Credit Subline means $12,500,000. For the avoidance of doubt, the Letter of Credit Subline is part of, and not in addition to, the Revolver Commitments.

Examples of Letter of Credit Subline in a sentence

• Advances under the Revolving Line of Credit Loan will be used only to fund short-term borrowings and working capital needs of the Debtor, with a foreign exchange and Letter of Credit Subline as provided in Section 2.07 hereof.

• If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the UK LC Obligations exceeds the UK Letter of Credit Subline, the excess amount shall be payable by the UK Borrower within three (3) Business Days following demand by Agent or the UK Issuing Bank.

• If as a result of fluctuations in Spot Rates or otherwise the Dollar Equivalent of the Canadian LC Obligations exceeds the Canadian Letter of Credit Subline, the excess amount shall be payable by the Canadian Borrower within three (3) Business Days following demand by Agent or the Canadian Issuing Bank.

• Letter of Credit Subline: $35,000,000 with respect to U.S. Borrowers and $15,000,000 with respect to Canadian Borrowers.

• Letter of Credit Subline - at any time of determination, the lesser of (x) $450,000,000 and (y) the aggregate Commitments at such time.

More Definitions of Letter of Credit Subline

Letter of Credit Subline means, for any Issuing Bank, the amount set forth opposite such Issuing Bank’s name on Schedule 2.01(b) as such schedule may be modified from time to time after the Closing Date in accordance with the terms hereof; provided that, as to any Issuing Bank, the Letter of Credit Subline of such Issuing Bank shall not exceed the amount set forth opposite such Issuing Bank’s name on Schedule 2.01(b) as in effect on the Closing Date, unless the applicable Issuing Bank otherwise agrees. For the avoidance of doubt, the Letter of Credit Sublines are part of, and not in addition to, the Revolving Commitments.

Letter of Credit Subline in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:

Letter of Credit Subline. $25,000,000; provided, that the Letter of Credit Subline shall be shared ratably among the Lenders based on the lesser of (a) each Lender’s Commitment and (b) such Lender’s Pro Rata share of the Letter of Credit Subline.

Letter of Credit Subline means $50,000,000.

Letter of Credit Subline. $150,000,000. LIBOR: for any Interest Period with respect to a LIBOR Loan, the per annum rate of interest (rounded upward, if necessary, to the nearest 1/8th of 1%), determined by Agent at approximately 11:00 a.m. (London time) two Business Days prior to commencement of such Interest Period, for a term comparable to such Interest Period, equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source designated by Agent); or (b) if BBA LIBOR is not available for any reason, the interest rate at which Dollar deposits in the approximate amount of the LIBOR Loan would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market. If the Board of Governors imposes a Reserve Percentage with respect to LIBOR deposits, then LIBOR shall be the foregoing rate, divided by 1 minus the Reserve Percentage.

Letter of Credit Subline means $30,000,000 or such greater amount pursuant to a Letter of Credit Increase Event; provided that the Letter of Credit Subline shall not exceed $50,000,000.

Letter of Credit Subline means an amount equal to the aggregate Revolver Commitments. LIBOR: for any Interest Period with respect to a LIBOR Loan, the per annum rate of interest (rounded upward, if necessary, to the nearest 1/8th of 1%), determined by Agent at approximately 11:00 a.m. (London time) two Business Days prior to commencement of such Interest Period, for a term comparable to such Interest Period, equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source designated by Agent); or (b) if BBA LIBOR is not available for any reason, the interest rate at which Dollar deposits in the approximate amount of the LIBOR Loan would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market. If the Board of Governors imposes a Reserve Percentage with respect to LIBOR deposits, then LIBOR shall be the foregoing rate, divided by 1 minus the Reserve Percentage.