ABL Letters of Credit definition

ABL Letters of Credit means the Letters of Credit as defined in the ABL Credit Agreement.
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ABL Letters of Credit means, collectively, that certain Letter of Credit No. NLNTCFSBI0000386 in the face amount of $10,000,000 issued by ING Bank N.V. and that certain Letter of Credit No. NLNTCFSBI0001010 in the face amount of $10,500,000 issued by ING Bank N.V., on behalf of the Investcorp.
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ABL Letters of Credit means letters of credit outstanding under the ABL Facility.
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Examples of ABL Letters of Credit in a sentence

  • Any ABL Revolving L/C Rebalancing shall not require any further action other than the notice by the Administrative Agent to the Issuer of such ABL Revolving L/C Rebalancing, and letters of credit formerly outstanding under the ABL Credit Agreement shall to the extent of such ABL L/C Rebalancing Amount be Letters of Credit hereunder and shall no longer be ABL Letters of Credit.

  • ABL Letters of Credit will be issued by Bank of America (or an affiliate) under the U.S. ABL Facility and under the Canadian ABL Facility and/or, in each case, one or more other Lenders who agree to issue such letters of credit reasonably acceptable to the Borrower and the Administrative Agent (each an “Issuing Bank”).

  • If at any time, the aggregate amount of outstanding ABL Loans, unreimbursed ABL Letter of Credit drawings and undrawn ABL Letters of Credit under any given ABL Facility exceeds the Maximum Borrowing Amount for that ABL Facility, then the relevant Borrower Entity will be required to repay outstanding ABL Loans and cash collateralize outstanding ABL Letters of Credit in an aggregate amount equal to such excess, with no reduction of the ABL Commitments.


More Definitions of ABL Letters of Credit

ABL Letters of Credit means any letters of credit issued (or deemed issued) from time to time under any ABL Financing Document.
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ABL Letters of Credit has the meaning ascribed to the term “Letter of Credit” (or such corresponding term) as defined under the ABL DIP Credit Agreement.
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Related to ABL Letters of Credit

  • Existing Letters of Credit means each of the letters of credit issued under the Existing Credit Agreement outstanding on the Closing Date that are described on Schedule 1.01(b).

  • Letters of Credit as defined in Section 3.1(a).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • ABL Loan Documents means the “Loan Documents” as defined in the ABL Credit Agreement.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • ABL Credit Agreement as defined in the recitals hereto.