Canadian Letter of Credit Sublimit definition

Canadian Letter of Credit Sublimit means the aggregate Canadian Letter of Credit Commitments of the Canadian Issuing Banks, in an amount not to exceed $10 million (or the equivalent thereof in an Alternate Currency).

Canadian Letter of Credit Sublimit means an amount equal to $5,000,000. The Canadian Letter of Credit Sublimit is part of, and not in addition to, the Canadian Total Commitments. A permanent reduction of the Canadian Total Commitments shall not require a corresponding pro rata reduction in the Canadian Letter of Credit Sublimit; provided, however, that if the Canadian Total Commitments are reduced to an amount less than the Canadian Letter of Credit Sublimit, then the Canadian Letter of Credit Sublimit shall be reduced to an amount equal to (or, at Canadian Borrower’s option, less than) the Canadian Total Commitments.

Canadian Letter of Credit Sublimit means the lesser of (a) $5,000,000 and (b) the aggregate unused amount of the Canadian Revolving Commitments then in effect.

Examples of Canadian Letter of Credit Sublimit in a sentence

• In connection with any Reallocation, the Borrower Representative may reallocate (x) any portion of the U.S. Letter of Credit Sublimit to the Canadian Letter of Credit Sublimit and vice-versa and (y) any portion of the U.S. Swingline Sublimit to the Canadian Swingline Sublimit and vice-versa.

• Counties may have as many individuals as they desire within the discipline category age groups.

• If, after giving effect to any reduction of the Canadian Revolving Commitments, the Canadian Letter of Credit Sublimit exceeds the amount of the remaining Canadian Revolving Commitments, such Canadian Letter of Credit Sublimit shall be automatically reduced by the amount of such excess.

• If as a result of fluctuations in exchange rates or otherwise (a) the U.S. LC Obligations exceed the U.S. Letter of Credit Sublimit or (b) the Canadian LC Obligations exceed the Canadian Letter of Credit Sublimit, the Borrowers shall Cash Collateralize the applicable Letters of Credit to the extent necessary to eliminate such excess amount within one Business Day following the written request by Agent.

• The Maximum Undrawn Amount of all outstanding Canadian Letters of Credit shall not exceed in the aggregate at any time the Canadian Letter of Credit Sublimit.

More Definitions of Canadian Letter of Credit Sublimit

Canadian Letter of Credit Sublimit means $30,000,000.

Canadian Letter of Credit Sublimit means $2,000,000, subject to increase in accordance with Section 2.22.

Canadian Letter of Credit Sublimit. $75,000,000.

Canadian Letter of Credit Sublimit. An amount equal to $150,000,000. The Canadian Letter of Credit Sublimit is part of, and not in addition to, the Total Commitments.

Canadian Letter of Credit Sublimit means an amount equal to $10,000,000. The Canadian Letter of Credit Sublimit is part of, and not in addition to, the Canadian Total Revolving Commitments. A permanent reduction of the Canadian Total Revolving Commitments shall require a corresponding reduction in the Canadian Letter of Credit Sublimit; provided, however, that if the Canadian Total Revolving Commitments are reduced to an amount less than the Canadian Letter of Credit Sublimit, then the Canadian Letter of Credit Sublimit shall be reduced to an amount equal to (or, at Canadian Borrower’s option, less than) the Canadian Total Revolving Commitments.

Canadian Letter of Credit Sublimit is defined in Section 2.11(b)(i).

Canadian Letter of Credit Sublimit means $5,000,000, as the same may be reduced from time to time pursuant to Section 3.1.