Bank Guarantee Proportion definition

Bank Guarantee Proportion means, in relation to a Lender in respect of any Bank Guarantee and save as otherwise provided in this Agreement, the proportion (expressed as a percentage) borne by that Lender's Available Commitment to the Available Facility immediately prior to the issue of that Bank Guarantee.
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Bank Guarantee Proportion means, in relation to a Lender in respect of the Bank Guarantee and save as otherwise provided in this Agreement, the proportion (expressed as a percentage) borne by that Lender’s Commitment to the Total Commitments immediately prior to the issue of the Bank Guarantee (and for avoidance of doubt this amount will not be changed in relation to the outstanding Bank Guarantee if a Lender’s Commitment is cancelled pursuant to Clause 9 (Payment and Cancellation)).
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Bank Guarantee Proportion means, in relation to a Bank in respect of any Bank Guarantee and save as otherwise provided herein, the proportion (expressed as a percentage) borne by such Bank's Available Revolving Commitment to the Available Revolving Facility, immediately prior to the issue of such Bank Guarantee.
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Examples of Bank Guarantee Proportion in a sentence

  • If any Borrower fails to comply with its obligations under Clause 13.1 (REVOLVING BORROWERS' INDEMNITY TO FRONTING BANK) the Facility Agent shall make demand on each Bank for its share of such amount and each Bank shall indemnify the Fronting Bank for such Bank's Bank Guarantee Proportion of each Bank Guarantee Amount.

  • This fee shall be distributed according to each Lender’s Bank Guarantee Proportion of that Bank Guarantee.

  • If any Borrower fails to comply with its obligations under Clause 9.2 (Borrowers' Indemnity to Fronting Banks) in respect of a Guarantee Amount, the Agent shall make demand on each Lender for its share of that Guarantee Amount and each Lender shall indemnify the Fronting Bank for that Lender's Bank Guarantee Proportion of each Guarantee Amount.

  • If any Borrower fails to comply with its obligations under Clause 10.2 (Obligors' Indemnity to Fronting Banks) the Agent shall make demand on each Lender for its share of that Guarantee Amount and each Lender shall indemnify the relevant Fronting Bank for that Lender's Bank Guarantee Proportion of each Guarantee Amount.


More Definitions of Bank Guarantee Proportion

Bank Guarantee Proportion means on any day in relation to any Lender in respect of any then outstanding Bank Guarantee and any Loss Amount, the proportion (expressed as a percentage) which that Lender's Commitment in relation to the Facility under which that Bank Guarantee has been issued (after deducting the amount of any Ancillary Facility made available by that Lender) bears to the aggregate of the Commitments of all Lenders under that Facility (after deducting the aggregate amount of all Ancillary Facilities made available under that Facility). If the Commitments under the relevant Facility have been reduced to zero, the Bank Guarantee Proportion shall be calculated on the basis of the Commitments immediately prior to that reduction.
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Related to Bank Guarantee Proportion

  • Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Performance Bank Guarantee/ Security Deposit means interest free amount to be deposited by the Contractor with NMRC as per terms and conditions of Contract Agreement as a security against the performance of the Contract agreement

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Commercial LC Exposure at such time.

  • 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 by the Issuer pursuant to Section 2.2.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Facility LC Application is defined in Section 2.19.3.

  • LC means Letter of Credit

  • 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.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Cash Collateralization has a correlative meaning.

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

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Credit Provider means a Person providing a guaranty, or other credit support, in form and substance reasonably acceptable to the Administrative Agent, of the obligations of an Included Investor to make Investor Capital Contributions.

  • Credit life insurance means insurance on the life of a debtor in connection with

  • LC Facility means the letter of credit facility established pursuant to Article III.

  • Acceptable Letter of Credit means a clean, unconditional, irrevocable letter of credit issued by a Wisconsin bank or any other financial institution acceptable to the commissioner which renews on an annual basis for a 3–year term unless written notice of non- renewal is given to the commissioner and the limited service health organization at least 60 days prior to the renewal date.

  • Consolidated Group Pro Rata Share means, with respect to any Investment Affiliate, the percentage of the total equity ownership interests held by the Consolidated Group in the aggregate, in such Investment Affiliate determined by calculating the greater of (i) the percentage of the issued and outstanding stock, partnership interests or membership interests in such Investment Affiliate held by the Consolidated Group in the aggregate and (ii) the percentage of the total book value of such Investment Affiliate that would be received by the Consolidated Group in the aggregate, upon liquidation of such Investment Affiliate, after repayment in full of all Indebtedness of such Investment Affiliate.

  • Guarantee Fee shall have the meaning given to that term in Section 4.1.