Canadian Facility Letters of Credit definition

Canadian Facility Letters of Credit. Letters of Credit (including Existing Letters of Credit) issued by the Canadian Facility Issuing Lender to, or for the account of, the Canadian Borrower, pursuant to subsection 3.1.
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Examples of Canadian Facility Letters of Credit in a sentence

  • In the event of any inconsistency between any of the terms or provisions of any Letter of Credit Document and the terms and provisions of this Agreement respecting Canadian Facility Letters of Credit, the terms and provisions of this Agreement shall control.

  • Upon any change in the Canadian Revolving Commitments of the Canadian Facility Lenders pursuant to section 2.1(f) or section 15.4(c), it is hereby agreed that, with respect to all outstanding Canadian Facility Letters of Credit and Unpaid Canadian Facility Drawings, there shall be an automatic adjustment to the participations pursuant to this section 4.4 to reflect the new Canadian Revolving Facility Percentages of any Canadian Facility Lender.

  • Any such successor Revolving (Canadian) Facility Facing Agent shall not be a non-resident of Canada or shall be deemed to be resident in Canada for purposes of Part XIII of the ITA in respect of the Revolving (Canadian) Facility Letters of Credit to be issued by it.

  • Upon any change in the Canadian Revolving Commitments of the Canadian Facility Lenders pursuant to section 13.4(c), it is hereby agreed that, with respect to all outstanding Canadian Facility Letters of Credit and Unpaid Canadian Facility Drawings, there shall be an automatic adjustment to the participations pursuant to this section 2B.4 to reflect the new Canadian Revolving Facility Percentages of any Canadian Facility Lender.

  • In the event the CAM Exchange Date shall occur, Obligations owed by the Loan Parties denominated in any currency other than U.S. Dollars (other than, for the avoidance of doubt, obligations in respect of undrawn Revolving (Canadian) Facility Letters of Credit denominated in Canadian Dollars) shall, automatically and with no further act required, be converted to obligations of the same Loan Parties denominated in U.S. Dollars.

  • All Canadian Facility Letters of Credit shall be denominated in an Applicable Currency and shall be issued for the account of the U.S. Borrower or the Canadian Borrower, as specified in the respective Letter of Credit Request.

Related to Canadian Facility Letters of Credit

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • 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.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

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

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

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

  • 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.

  • Canadian Facility means, at any time, the aggregate amount of the Canadian Commitments 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.

  • 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.

  • Canadian Revolving Loans means Revolving Loans made to the Canadian Borrower under Section 2.2, including Bankers’ Acceptance Advances.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

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

  • Canadian Letter of Credit means each Letter of Credit issued hereunder for the account of the Canadian Borrower.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

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

  • Letter of Credit Liabilities means, for any Lender and at any time, such Lender’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.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.