Additional LC Credit definition

Additional LC Credit means the additional letter of credit facility established by the Additional LC Lenders pursuant to Section 2.1(3).
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Examples of Additional LC Credit in a sentence

  • Thereafter, the Transferred Letters of Credit may be extended, and other Additional LCs may be issued, at the request of the Borrower and in the sole discretion on the Additional LC Lenders, within the limit of the Additional LC Credit.

  • As part of such additional credit, effective as of the Fifth Amendment Effective Date, the Transferred Letters of Credit shall be deemed to be outstanding under the Additional LC Credit and shall be deemed no longer to be outstanding under the Revolving Credit Commitment, without any further action on the part of any of the parties hereto.

  • The Transferred Letters of Credit in effect on the Fifth Amendment Effective Date shall be deemed, on the Fifth Amendment Effective Date, to have been issued under the Additional LC Credit, such that they constitute Additional LCs in all respects and, from and after the Fifth Amendment Effective Date, shall be subject to the fees set in Section 2.10(2) which are payable to the Additional LC Lenders.

  • Sections 2.19(f), (g), (h), (i) and (j) apply, mutatis mutandis, to the extent there is any Defaulting Lender under the Additional LC Credit.

  • No standby fees shall be payable in respect of the Additional LC Credit.

  • Each Additional LC shall be issued as part of a Borrowing under the Additional LC Credit and the LC Exposure thereunder shall be borne by the Additional LC Lenders rateably in accordance with their respective shares of the Additional LC Credit.

  • For greater certainty, the Additional LC Credit is an uncommitted credit facility, and therefore no Additional LC Lender is under any obligation to issue any Additional LC (other than the Transferred Letters of Credit, the liability for which is being assumed by the Additional LC Lenders on the Fifth Amendment Effective Date).

  • The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of the Revolving Credit Lenders and the Additional LC Lenders, as applicable, the outstanding principal amount of all Revolving Credit Borrowings under the Revolving Credit and all Borrowings under the Additional LC Credit (including, in each case, Cover for any outstanding Letters of Credit) on the Maturity Date.

  • The Additional LC Credit shall be available only by way of Additional LCs. Each Lender may at its option make any LIBO Rate Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not result in any increased costs for the Borrower or affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

  • The Additional LC Credit shall be available only by way of Additional LCs. Each Lender may at its option make any SOFR Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not result in any increased costs for the Borrower or affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement.

Related to Additional LC Credit

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • 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.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Additional Revolving Lender means any Lender with an Additional Revolving Credit Commitment or any Additional Revolving Credit Exposure.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Facility Letter of Credit Fee is defined in Section 2A.8.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Additional Revolving Facility means any revolving credit facility added pursuant to Sections 2.22, 2.23 or 9.02(c)(ii).

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Additional Refinancing Lender has the meaning set forth in Section 2.15(a).

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

  • Letter of Credit Limit means $5,000,000.