Canadian LC Obligations definition

Canadian LC Obligations means the Dollar Equivalent sum (without duplication) of (a) all amounts owing by the Canadian Borrower for any drawings under Canadian Letters of Credit (including any bankers’ acceptances or other payment obligations arising therefrom); and (b) the stated amount of all outstanding Canadian Letters of Credit.

Canadian LC Obligations the sum (without duplication) of (a) all amounts owing by the Canadian Borrower for any drawings under Letters of Credit; (b) the stated amount of all outstanding Letters of Credit issued for the account of the Canadian Borrower; and (c) all fees and other amounts owing with respect to Letters of Credit issued for the account of the Canadian Borrower.

Canadian LC Obligations means the sum (without duplication) of (a) all amounts owing by the Canadian Borrowers in respect of any Canadian LC Disbursements (including any bankers' acceptances or other payment obligations arising therefrom) and (b) the Stated Amount of all outstanding Canadian Letters of Credit.

Examples of Canadian LC Obligations in a sentence

• Amounts distributed with respect to any Bank Product Debt, US LC Obligations or Canadian LC Obligations shall be the lesser of the applicable US LC Obligations, Canadian LC Obligations or Bank Product Amount last reported to the Agents or the actual US LC Obligations, Canadian LC Obligations or Bank Product Debt as calculated by the methodology reported to the Agents for determining the amount due.

• The Canadian Borrower shall, on demand by Canadian Issuing Bank or the Agent from time to time, Cash Collateralize the Canadian LC Obligations of any Defaulting Lender that is a Canadian Lender.

• In no event shall Protective Advances be required that would cause (a) the outstanding U.S. Revolver Loans and U.S. LC Obligations to exceed the aggregate U.S. Commitments or (b) the outstanding Canadian Revolver Loans and Canadian LC Obligations to exceed the aggregate Canadian Commitments.

• The holder of this Note is hereby authorized by the Canadian Borrower to record on a schedule annexed to this Note (or on a supplemental schedule) the amounts owing with respect to Canadian Revolver Loans and Canadian LC Obligations, and the payment thereof.

• Each Canadian Lender shall be obligated to reimburse the applicable Canadian L/C Issuer for such Canadian Lender’s Canadian Revolver Percentage of the amount of each drawing under a Canadian Letter of Credit and, accordingly, each Canadian Letter of Credit shall constitute usage of the Canadian Revolving Credit Commitment of each Canadian Lender pro rata in an amount equal to its Canadian Revolver Percentage of the Canadian L/C Obligations then outstanding.

More Definitions of Canadian LC Obligations

Canadian LC Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Canadian Letters of Credit plus the aggregate outstanding amount of all Unreimbursed Amounts with respect to Canadian Letters of Credit that are not fully refinanced by a Canadian Advance and, without duplication, all LC Borrowings with respect to Canadian Letters of Credit. For all purposes of this Agreement, if on any date of determination a Canadian Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Canadian Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

Canadian LC Obligations means, at the time in question, the sum of all Matured Canadian LC Obligations plus the maximum amounts which Canadian LC Issuer might then or thereafter be called upon to advance under all Letters of Credit then outstanding under the Canadian Agreement.

Canadian LC Obligations means, at any time, with respect to Canadian Facility LCs, the sum, without duplication, of (a) the aggregate undrawn stated amount under all Canadian Facility LCs outstanding at such time plus (b) the aggregate unpaid amount at such time of all Reimbursement Obligations related to Canadian Facility LCs.

Canadian LC Obligations means at any time, an amount equal to the sum of (a) the aggregate undrawn and unexpired amount of the then outstanding Canadian Letters of Credit and (b) the aggregate amount of drawings under Canadian Letters of Credit which have not then been reimbursed pursuant to Section 3.5.

Canadian LC Obligations means Indebtedness permitted by Section 7.03(b)(xxiv).

Canadian LC Obligations the Dollar Equivalent sum of (a) all amounts owing by Canadian Borrowers for drawings under Letters of Credit issued at the request of Canadian Borrowers; and (b) the Stated Amount of all outstanding Letters of Credit issued at the request of Canadian Borrowers. Canadian Lender: Bank of America-Canada Branch and any other Person having Canadian Revolver Commitments from time to time or at any time, each of which is a Canadian Qualified Lender unless otherwise permitted in this Agreement. Canadian Obligations: on any date, the portion of the Obligations outstanding that are owing by Canadian Obligors. Canadian Obligor: Canadian Borrowers and any Canadian Guarantor.

Canadian LC Obligations means the Canadian LC Amount plus the Dollar Equivalent of the aggregate principal amount of all Canadian LC Disbursements that have not yet been reimbursed at such time. The Canadian LC Obligations of any Canadian Participant at any time shall equal its Revolving Loan Percentage of the aggregate Canadian LC Obligations at such time.