Dollar Facility Letter of Credit definition

Dollar Facility Letter of Credit means each Letter of Credit (which must be denominated in Dollars) issued to the U.S. Borrower or the Bermuda Borrower pursuant to Section 2A.01 and designated as such by the respective Borrower in the respective Letter of Credit Request.
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Dollar Facility Letter of Credit means any Standby Letter of Credit or Commercial Letter of Credit issued under any Dollar Revolving Facility pursuant to this Agreement.
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Dollar Facility Letter of Credit means each Letter of Credit (which must be denominated in Dollars) issued for the account of BFPH pursuant to Section 2.01.
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Examples of Dollar Facility Letter of Credit in a sentence

  • Each Dollar Facility Letter of Credit shall constitute either a U.S. Borrower Dollar Facility Letter of Credit or a Bermuda Borrower Dollar Facility Letter of Credit.

  • In addition to the adjustments contemplated above, upon the occurrence of a Sharing Event, in accordance with the provisions of Section 1.14(d), the "L/C Participation Percentages" of the RL Lenders shall be adjusted, so that each RL Lender shall participate in each outstanding Letter of Credit (whether a Multicurrency Facility Letter of Credit or a Dollar Facility Letter of Credit) in accordance with its RL Percentage, in each case as more fully described in Section 1.14(d).

  • Immediately upon the issuance of each U.S. Dollar Facility Letter of Credit, each U.S. Dollar Facility Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the U.S. Dollar Facility L/C Issuer a risk participation in such U.S. Dollar Facility Letter of Credit in an amount equal to the product of such U.S. Dollar Facility Lender’s Pro rata Share times the amount of such U.S. Dollar Facility Letter of Credit.

  • The Bermuda Borrower shall have no liability with respect to any U.S. Borrower Multicurrency Facility Letter of Credit or any U.S. Borrower Dollar Facility Letter of Credit which may be issued to the U.S. Borrower.

  • Each notice shall be in the form of Exhibit C-1 (each, a "Letter of Credit Request"), including without limitation by specifying whether the requested Letter of Credit shall constitute a U.S. Borrower Multicurrency Facility Letter of Credit, a Bermuda Borrower Multicurrency Facility Letter of Credit, a U.S. Borrower Dollar Facility Letter of Credit or a Bermuda Borrower Dollar Facility Letter of Credit and the Available Currency in which the requested Letter of Credit is to be denominated.

  • Each notice shall be in the form of Exhibit C (each, a "Letter of Credit Request"), including without limitation by specifying whether the requested Letter of Credit shall constitute a Dollar Facility Letter of Credit or a Multicurrency Facility Letter of Credit and the Available Currency in which the requested Letter of Credit is to be denominated.

  • For the avoidance of doubt, a U.S. Dollar Facility Letter of Credit that is a commercial letter of credit shall not include a banker’s acceptance.

  • The U.S. Dollar Facility Letter of Credit Sublimit is part of, and not in addition to, the Aggregate U.S. Dollar Facility Commitment.

  • Each notice shall be in the form of Exhibit C (each, a "Letter of Credit Request"), including without limitation by specifying whether the requested Letter of Credit shall constitute a Multicurrency Facility Letter of Credit, or a Dollar Facility Letter of Credit and the Available Currency in which the requested Letter of Credit is to be denominated.

  • The Bermuda Borrower shall have no liability with respect to any U.S. Borrower Multicurrency Facility Letter of Credit or any U.S. Borrower Dollar Facility Letter of Credit which may be issued to the U.S. Borrower.".


More Definitions of Dollar Facility Letter of Credit

Dollar Facility Letter of Credit means any letter of credit or bank guarantee by a Dollar Facility Issuing Bank issued pursuant to this Agreement or deemed outstanding under this Agreement (other than any such letter of credit or bank guarantee that shall have ceased to be a “Letter of Credit” outstanding hereunder pursuant to Section 9.05); provided that no Dollar Facility Issuing Bank shall be required to issue trade letters of credit or bank guarantees unless they otherwise agree.
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Related to Dollar Facility Letter of Credit

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • 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.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

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

  • 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.

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

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

  • 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.

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

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

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

  • 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.

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

  • Facility Letter of Credit Fee is defined in Section 2A.8.

  • 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.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • 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.

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

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all 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 Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).