Canadian LC Exposure definition

Canadian LC Exposure means at any time, the sum of (a) the Dollar Equivalent of the aggregate undrawn amount of all outstanding Canadian Letters of Credit at such time and (b) the Dollar Equivalent of the aggregate principal amount of all LC Disbursements with respect to Canadian Letters of Credit that have not yet been reimbursed at such time. The Canadian LC Exposure of any Lender at any time shall equal its Applicable Percentage of the aggregate Canadian LC Exposure at such time.

Canadian LC Exposure means, at any time, the sum of the Commercial LC Exposure and the Standby LC Exposure of the Canadian Borrowers. The Canadian LC Exposure of any Canadian Lender at any time shall be its Applicable Percentage of the total Canadian LC Exposure at such time.

Canadian LC Exposure means at any time the sum of (a) the aggregate undrawn Stated Amount of all outstanding Canadian Letters of Credit at such time plus (b) the aggregate principal amount of all Canadian LC Disbursements that have not yet been reimbursed at such time. The Canadian LC Exposure of any Revolving Lender at any time shall mean its Pro Rata Percentage of the aggregate Canadian LC Exposure at such time.

Examples of Canadian LC Exposure in a sentence

• Moneys in such account shall (i) automatically be applied by the Applicable Administrative Agent to reimburse the Applicable Issuing Bank for L/C Disbursements for which it has not been reimbursed, (ii) be held for the satisfaction of the reimbursement obligations of the Applicable Borrower for the U.S. L/C Exposure, the Canadian L/C Exposure or the Australian L/C Exposure, as applicable, at such time and (iii) if the maturity of the Loans has been accelerated, be applied to satisfy the Obligations.

• Except for Canadian Overadvances permitted under Section 2.05, in the event and on such occasion that the total Canadian Revolving Exposure exceeds any of the limits or sublimits contained in Section 2.01(b), the Canadian Borrower shall prepay the Canadian Revolving Loans, Canadian LC Exposure and/or Canadian Swingline Loans in an aggregate amount equal to such excess.

• In the event of any termination of all the U.S. Commitments or Canadian Commitments, the applicable Borrower shall, on the date of such termination, repay or prepay all its outstanding Borrowings and replace all outstanding Letters of Credit and/or deposit an amount equal to the sum of the U.S. L/C Exposure and the Canadian L/C Exposure in cash in a cash collateral account established with the Collateral Agent for the benefit of the Secured Parties.

• For purposes of computing commitment fees with respect to the Canadian Revolving Commitments, the Canadian Revolving Commitment of each Canadian Lender shall be deemed used to the extent of the outstanding Canadian Revolving Loans and Canadian LC Exposure of such Lender.

• Moneys in such account shall (i) automatically be applied by the Applicable Administrative Agent to reimburse the Applicable Issuing Bank for L/C Disbursements for which it has not been reimbursed, (ii) be held for the satisfaction of the reimbursement obligations of the applicable Borrower for the U.S. L/C Exposure or the Canadian L/C Exposure, as applicable, at such time and (iii) if the maturity of the Loans has been accelerated, be applied to satisfy the Obligations.

More Definitions of Canadian LC Exposure

Canadian LC Exposure means, collectively, the sum of (a) the aggregate undrawn amount (in Canadian Dollars) of all outstanding Canadian Letters of Credit at such time plus (b) the aggregate amount (in Canadian Dollars) of all LC Disbursements that have not yet been reimbursed by or on behalf of the Canadian Borrowers at such time. The Canadian LC Exposure of any Lender at any time shall be its Applicable Percentage of the total Canadian LC Exposure at such time.

Canadian LC Exposure means, at any time, the sum of the Dollar Amount of the Commercial LC Exposure and the Standby LC Exposure in respect of Canadian Letters of Credit. The Canadian LC Exposure of any Tranche B Revolving Lender at any time shall be its Applicable Percentage of the total Canadian LC Exposure at such time.

Canadian LC Exposure means at any time the sum of (a) the U.S. Dollar Equivalent of the aggregate undrawn amount of all outstanding Canadian Letters of Credit at such time plus (b) the U.S. Dollar Equivalent of the aggregate principal amount of all L/C Disbursements in respect of Canadian Letters of Credit that have not yet been reimbursed at such time. The Canadian L/C Exposure of any Canadian Lender at any time shall mean its Canadian Revolving Pro Rata Percentage of the aggregate Canadian L/C Exposure at such time.

Canadian LC Exposure as defined in the definition of “LC Exposure”.

Canadian LC Exposure means the “LC Exposure” under the Canadian Credit Agreement.

Canadian LC Exposure means, at any time, the sum of (a) the U.S. Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit at such time issued for the account of the Canadian Borrower (or for which the Canadian Borrower is a co-applicant) and (b) the U.S. Dollar Equivalent of the aggregate amount of all LC Disbursements on Letters of Credit issued for the account of the Canadian Borrower (or for which the Canadian Borrower is a co-applicant) that have not yet been reimbursed (including with the proceeds of Revolving Loans hereunder) by or on behalf of the Canadian Borrower at such time. The Canadian LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Canadian LC Exposure at such time.

Canadian LC Exposure means at any time the sum of (a) the aggregate undrawn amount of all outstanding Canadian Letters of Credit at such time plus (b) the aggregate principal amount of all L/C Disbursements in respect of Canadian Letters of Credit that have not yet been reimbursed at such time.