Letter of Credit Amount. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.
Letter of Credit Amount. On each day prior to and on the Liquidity Commitment Expiration Date, the sum of (i) the amount of funds on deposit in the Reserve Account and (ii) the amount of the Letter of Credit that is in full force and effect shall equal the Letter of Credit Commitment; provided, however, that upon the downgrade or removal of S&P’s and Moody’s long-term unsecured debt rating of the Guarantor, BLFC or the Trust which requires the Letter of Credit Commitment to be increased in accordance with subsection 2.01(e) of the Letter of Credit Reimbursement Agreement, BAFC shall have thirty (30) days to either (x) obtain a substitute Letter of Credit or an amendment to the existing Letter of Credit reflecting the Letter of Credit Commitment as so increased or (y) deposit additional funds in the Reserve Account in an amount equal to the amount by which the Letter of Credit Commitment is required to be increased. Following the deposit by BAFC of any amounts in the Reserve Account, the Administrative Agent may, upon receipt of a Servicer’s Certificate or upon obtaining knowledge of the existence of a Defaulted Loan, request withdrawals from the Collateral Agent out of the Reserve Account of draw amounts with respect to Defaulted Loans and deposit of such amounts by the Collateral Agent into the Cash Collateral Account. The Administrative Agent shall provide notice to BAFC and the Servicer as promptly as practicable of the fact and amount of such drawings.
Letter of Credit Amount. Upon execution of this Lease, Tenant shall deliver to Landlord a security deposit (the “Security Deposit”) in the form of a “Letter of Credit” (as defined below) in the amount of $3,729,924.00 for the faithful performance of all terms, covenants and conditions of this Lease.
Letter of Credit Amount the amount specified in the Agreement that the Bank will pay to the Remittee on the basis of the Agreement and in accordance with its terms and conditions.
Letter of Credit Amount. The sum of (i) the aggregate undrawn amount of all Letters of Credit outstanding at any time plus (ii) the aggregate amount of all drawings under Letters of Credit for which Lender has not been reimbursed at such time.
Letter of Credit Amount. The Series 2010-3 Letter of Credit Amount shall at least equal the Series 2010-3 Minimum Letter of Credit Amount.
Letter of Credit Amount. The aggregate amount of all issued and outstanding Letters of Credit shall, at all times during the term hereof as provided in Section 5, be Dollars ($ ) (the “Letter of Credit Amount”). Each Letter of Credit shall be for a term of not less than twelve (12) months and shall remain in effect for at least sixty (60) days after the date upon which the Term (as defined in the Lease) expires, but subject to termination in accordance with Section 4 of the Lease.
Letter of Credit Amount. Each of the Seller and the Servicer shall promptly notify the Letter of Credit Issuer if the Letter of Credit Issuer is liable or contingently liable to provide payments under the Letter of Credit representing more than 9.0% of the Cash Flow. The Seller and the Servicer shall use commercially reasonable efforts to give notification pursuant to this Section not fewer than 30 days prior to the date on which the Letter of Credit Issuer is anticipated to be liable or contingently liable to provide payments under the Letter of Credit representing more than 9.0% of the Cash Flow.
Letter of Credit Amount. On or before July 24, 2017, Tenant shall deliver to Landlord a security deposit (the “Security Deposit”) in the form of a “Letter of Credit” (as defined below) in the amount of $117,156.33 for the faithful performance of all terms, covenants and conditions of this Lease. Tenant agrees that its failure to deliver the Security Deposit to Landlord as required in the preceding sentence following notice from Landlord and Tenant’s failure to cure within three (3) business days after such notice, shall, at Landlord’s election, be a default under this Lease for which there shall be no further cure.
Letter of Credit Amount. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time shall be deemed to mean the maximum face amount of such Letter of Credit after giving effect to all increases hereof contemplated by such Letter of Credit or the Issuer Documents related hereto, whether or not such maximum face amount is in effect at such time.
