Canadian LC Request definition

Canadian LC Request a request for issuance of a Canadian Letter of Credit, to be provided by Borrower Agent or Canadian Borrower to Canadian Issuing Bank, in form satisfactory to Agent and Canadian Issuing Bank.

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Canadian LC Request has the meaning provided in Section 2.07(b).

Canadian LC Request a request for issuance of a Canadian Letter of Credit, to be provided by a Canadian Borrower to a Canadian Fronting Bank, in form reasonably satisfactory to Agent and such Canadian Fronting Bank. Canadian Letter of Credit: any standby, time (usance) or documentary letter of credit issued by a Canadian Fronting Bank for the account of a Canadian Borrower, or any indemnity, guarantee or similar form of credit support issued by Agent or a Canadian Fronting Bank for the benefit of a Canadian Borrower. Canadian Letter of Credit Sublimit: $30,000,000. Canadian Line Cap: at any time, the lesser of (i) the Canadian Revolver Commitments and (ii) the Canadian Borrowing Base.

Examples of Canadian LC Request in a sentence

Each Canadian Borrower hereby authorizes any other Canadian Borrower to request a Borrowing, Continuation or Conversion of a Canadian Revolving Loan or a Canadian LC Request hereunder.
Each request by any of the Canadian Borrowers for a Borrowing, Continuation or Conversion of any Canadian Revolving Loan or for any Canadian LC Request shall be deemed to be a joint and several request by all of the Canadian Borrowers.
The Applicable Agent shall promptly give each Lender written notice (or telephonic notice promptly confirmed in writing) of each proposed Borrowing applicable to such Lender, or Conversion or Continuation thereof, and LC Issuance, and of such Lender’s proportionate share thereof or participation therein and of the other matters covered by the Notice of Borrowing, Notice of Continuation or Conversion, Revolving Facility LC Request or Canadian LC Request, as the case may be, relating thereto.
The Global Agent shall promptly give each Lender written notice (or telephonic notice promptly confirmed in writing) of each proposed Borrowing applicable to such Lender, or Conversion or Continuation thereof, and LC Issuance, and of such Lender’s proportionate share thereof or participation therein and of the other matters covered by the Notice of Borrowing, Notice of Continuation or Conversion, Revolving Facility LC Request or Canadian LC Request, as the case may be, relating thereto.
Each Canadian LC Request for the issuance of an Canadian Letter of Credit, or the amendment, renewal, or extension of any outstanding Canadian Letter of Credit, shall be irrevocable and shall be made in writing by an authorized Person and delivered to Canadian Issuing Bank via telefacsimile or other electronic method of transmission reasonably acceptable to Canadian Issuing Bank.

More Definitions of Canadian LC Request

Canadian LC Request a request for issuance of a Canadian Letter of Credit, to be provided by Canadian Borrower to Canadian LC Issuer, in form satisfactory to Agent and Canadian LC Issuer. Canadian LC Reserve: the aggregate of all Canadian LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Event of Default exists, those constituting charges due and payable to the Canadian LC Issuer. Canadian Lenders: Bank of America, N.A. (acting through its Canada branch) and each other Lender permitted hereunder that has issued a Canadian Revolver Commitment. Canadian Letter of Credit: any standby or documentary letter of credit denominated in Canadian Dollars and issued by Canadian LC Issuer for the account of Canadian Borrower, or any indemnity, guarantee, exposure transmittal memorandum or similar form of credit support issued by Agent or Canadian LC Issuer for the benefit of Canadian Borrower.