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).