Committed Letter of Credit definition

Committed Letter of Credit has the meaning specified in Section 2.05(b).
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Committed Letter of Credit means a Letter of Credit issued by an Issuing Lender in Dollars pursuant to Section 2.05(a).
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Committed Letter of Credit means a Letter of Credit issued pursuant to Section 2.05(b)(i).
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Examples of Committed Letter of Credit in a sentence

  • In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, an Issuing Lender relating to any Committed Letter of Credit, the terms and conditions of this Agreement shall control.

  • If requested by the respective Issuing Lender, the Borrower also shall submit a letter of credit application on such Issuing Lender’s standard form in connection with any request for a Committed Letter of Credit.

  • The Syndication Parties shall have no obligation to make any Advance or issue any Negotiated Letter of Credit, and the Letter of Credit Bank shall have no obligation to issue a Committed Letter of Credit if a Potential Default or an Event of Default shall occur and be continuing.

  • Borrower shall pay at the time of the issuance or reissuance of each Committed Letter of Credit the Issuance Fee therefore to be distributed to the Letter of Credit Bank.

  • Committed Letters of Credit issued hereunder shall constitute utilization of the Revolving Commitments specified by the Borrower at the time it requests such Committed Letter of Credit to be issued hereunder.

  • Borrower may request issuance of a Committed Letter of Credit by providing, not later than 12:00 noon (Central time) on a Banking Day, a written request therefore (“Committed LC Request”) to the Administrative Agent and the Letter of Credit Bank.

  • If such Borrower fails to make such payment when due in respect of any Committed Letter of Credit, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from such Borrower in respect thereof and such Lender's Applicable Percentage thereof.

  • Promptly following receipt by the Administrative Agent of any payment from such Borrower pursuant to this paragraph in respect of any Committed Letter of Credit, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear.

  • Borrower shall pay the non-refundable Committed Letter of Credit Fee calculated in arrears as of the last day of each of Borrower’s Fiscal Quarters.

  • The Issuing Bank will issue any Committed Letter of Credit so requested at the time specified in such notice, subject to the other terms and conditions set forth herein.


More Definitions of Committed Letter of Credit

Committed Letter of Credit means a letter of credit issued by the Letter of Credit Bank pursuant to the provisions of Sections 5.1 and 5.2 hereof.
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Committed Letter of Credit means a letter of credit issued by the Letter of Credit Bank pursuant to the provisions of Sections 4.1 and 4.2 hereof and shall include all Closing Date Letters of Credit issued by the Letter of Credit Bank.
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Committed Letter of Credit means a Letter of Credit issued by an Issuing Lender in Dollars pursuant to Section 2.05(a). “Companies Act” means the Companies Act of 1985 of England and Wales, as amended from time to time.
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Committed Letter of Credit means a letter of credit issued by the Letter of Credit Bank pursuant to the provisions of Sections 4.1 and 4.2 hereof.
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Related to Committed Letter of Credit

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Revolving Letter of Credit means any letter of credit issued pursuant to Section 2.05.

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Limit means $5,000,000.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Letter of Credit Liability means, without duplication, at any time and in respect of any Letter of Credit, the sum of (a) the undrawn face amount of such Letter of Credit, plus (b) the aggregate unpaid principal amount of all Reimbursement Obligations of Borrower at such time due and payable in respect of all drawings made under such Letter of Credit.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.