Collateralized Letters of Credit definition

Collateralized Letters of Credit has the meaning set forth in Section 5.12(h) of the Base Indenture.

Collateralized Letters of Credit at any date, all then outstanding letters of credit issued on behalf of the Company the reimbursement obligations of the Company in respect of which are fully secured by cash and that are identified as Collateralized Letters of Credit in the most recent Compliance Certificate provided to the Lenders under Section 5.2(b)."

Collateralized Letters of Credit shall have the meaning provided in Section 3.02(b).

Examples of Collateralized Letters of Credit in a sentence

• To the extent that any payment made under the previous sentence is insufficient to cause the Letter of Credit Obligations to be equal to or less then the Availability, Borrowers agree, jointly and severally, to immediately deposit with Agent an amount of cash equal to the entire Letter of Credit Obligation with respect to one or more Letters of Credit which are causing the deficiency (which, for this purpose, shall be deemed to be Cash Collateralized Letters of Credit) in the Cash Collateral Account.

• Any deposit made to the Cash Collateral Account pursuant to this Section 2.13(B)(i) shall be used exclusively to facilitate the issuance of Cash Collateralized Letters of Credit requested hereunder and shall not affect the Availability or Borrowing Base.

• Cash Collateral provided with respect to a Cash Collateralized Letter of Credit solely in accordance with the provisions of Section 2.15(a)(iv) shall be promptly released to the Collection Account to be applied in accordance with Section 2.07(c) following the expiration or termination of such Cash Collateralized Letters of Credit.

• The Domestic Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Percentages, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit (other than Cash Collateralized Letters of Credit) equal to the Eurodollar Rate plus the Applicable Rate times the average daily stated amount of such Letter of Credit during any quarter.

• Settlement Escrow Account and Cash Collateralized Letters of Credit released prior to or on the Effective Date shall in the aggregate equal or exceed $58,000,000.

More Definitions of Collateralized Letters of Credit

Collateralized Letters of Credit has the meaning set forth in Section 5.13(d)(iii) of this Base Indenture.

Collateralized Letters of Credit means all U.S. Letters of Credit or Canadian Letters of Credit that have been cash collateralized (in the applicable currency) in an amount not less than one hundred five percent (105%) of the stated amount of such U.S. Letter of Credit or Canadian Letter of Credit, which such cash collateral has been deposited in a deposit account with the Agent and under the sole control of the Agent (which the Loan Parties shall not be permitted to access).

Collateralized Letters of Credit has the meaning set forth in Section 2.04(f).

Collateralized Letters of Credit means the Letters of Credit designated by the Borrower in writing to the Revolving Facility Agent simultaneously with (but no more frequently than once per

Collateralized Letters of Credit. The meaning specified in Section 11.1(e) of the Base Indenture.

Collateralized Letters of Credit means the Letters of Credit designated by the Borrower in writing to the Administrative Agent simultaneously with (but no more frequently than once per week) the delivery of the Borrowing Base Certificate required by Section 6.12(a) (Borrowing Base Determination) as "Collateralized Letters of Credit" with respect to which the Borrower maintains funds in the Special Cash Collateral Account as required by Section 2.4(n) (Letters of Credit). The Borrower may not designate any Letter of Credit as a Collateralized Letter of Credit if a Default or an Event of Default shall have occurred and is continuing. The Borrower may withdraw its designation as "Collateralized Letters of Credit" of one or more of the Letters of Credit so designated by written notice to the Administrative Agent delivered simultaneously with (but no more frequently than once per week) the delivery of the Borrowing Base Certificate required by Section 6.12(a) (Borrowing Base Determination).

Collateralized Letters of Credit with respect to which the Borrower maintains funds in the Special Cash Collateral Account as required by Section 2.4(n) (Letters of Credit). The Borrower may not designate any Letter of Credit as a Collateralized Letter of Credit if a Default or an Event of Default shall have occurred and is continuing. The Borrower may withdraw its designation as "Collateralized Letters of Credit" of one or more of the Letters of Credit so designated by written notice to the Administrative Agent delivered simultaneously with (but no more frequently than once per week) the delivery of the Borrowing Base Certificate required by Section 6.12(a) (Borrowing Base Determination).