Canadian Dollar Letter of Credit definition

Canadian Dollar Letter of Credit means any Letter of Credit denominated in Canadian Dollars.
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Canadian Dollar Letter of Credit in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows:
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Canadian Dollar Letter of Credit means any Letter of Credit denominated in Canadian Dollars. Notwithstanding the foregoing, from and after the Amendment No. 5 Effective Date, no Canadian Dollar Letters of Credit may be requested or issued under this Agreement.
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Examples of Canadian Dollar Letter of Credit in a sentence

  • For purposes of computing the average daily amount of the LC Exposure for any period under this Section 2.13(b), the average daily amount of the Canadian Dollar LC Exposure for such period shall be calculated by multiplying (x) the average daily balance of each Canadian Dollar Letter of Credit (expressed in Canadian Dollars) by (y) the Spot Exchange Rate for Canadian Dollars in effect on the last Business Day of such period or by such other reasonable method that the Administrative Agent deems appropriate.

  • Each Canadian Dollar Letter of Credit issued by a Canadian Affiliate of an Issuing Bank shall be issued on a Business Day which is not a day on which banking institutions in Toronto and Montreal, Canada are authorized by law to close.

  • The U.S. Dollar Equivalent of each Canadian Dollar Letter of Credit Advance and of the Available Amount of each Canadian Dollar Letter of Credit shall be recalculated hereunder on each date on which it shall be necessary to determine the Unused Revolving Credit Commitment, or any or all Letter of Credit Advances outstanding on such date.

  • UNLV and SIT could not come to terms on an affiliation going forward that would place students on the main campus for a minimum of two years before being awarded a UNLV degree.

  • The Administrative Agent shall in addition determine the US Dollar Equivalent of any Canadian Dollar Letter of Credit as of the CAM Exchange Date as set forth in Section 2.21.

  • Each Canadian Dollar Letter of Credit issued by a Canadian Bank Affiliate of an Issuing Bank shall be issued on a Business Day which is not a day on which banking institutions in Toronto and Montreal, Canada are authorized by law to close.

  • Societal and hybrid problems are usually complex and multifaceted and therefore can seldom be solved by any one group of actors or any single discipline.

  • If Borrowers fail to so reimburse the L/C Issuer by such time, Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Canadian Dollar Letter of Credit) (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof.

  • The LHCb Upgrade II would be a natural evolution of the current BNL program in Belle II, which is expected to end operations in the early 2030s (Fig.

  • This Section 2.20(a) shall not be construed to impose an obligation upon the Fronting Bank to issue any Letter of Credit that is inconsistent with the terms and conditions of this Agreement or that would result in there existing (i) Letters of Credit in an aggregate stated amount at any time in excess of $35,000,000 or (ii) Letters of Credit denominated in Canadian Dollars in excess of the Canadian Dollar Equivalent of $10,000,000 (the "Canadian Dollar Letter of Credit Sublimit").


More Definitions of Canadian Dollar Letter of Credit

Canadian Dollar Letter of Credit. Letters of Credit denominated in Canadian Dollars.
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Canadian Dollar Letter of Credit shall have the meaning provided in Section 3.1(a)(ii).
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Related to Canadian Dollar Letter of Credit

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

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

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • 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.

  • 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).

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

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

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

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

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

  • 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.

  • 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 Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Canadian Dollar means the lawful currency of Canada.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • 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.

  • 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 Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations 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.

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