Domestic LC Obligations definition

Domestic LC Obligations means, at any time, with respect to Domestic Facility LCs, the sum, without duplication, of (a) the aggregate undrawn stated amount under all Domestic Facility LCs outstanding at such time plus (b) the aggregate unpaid amount at such time of all Reimbursement Obligations related to Domestic Facility LCs.
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Domestic LC Obligations means, as at any date of determination and without duplication, the aggregate Stated Amount of all outstanding Domestic Letters of Credit plus the aggregate of all Unreimbursed Amounts under Domestic Letters of Credit, including all Domestic L/C Borrowings.
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Domestic LC Obligations means, at any time, an amount equal to the sum of (i) the sum of the aggregate Stated Amount of the then outstanding Letters of Credit denominated in Dollars, and (ii) the sum of the aggregate amount of drawings under Domestic Letters of Credit which have not then been reimbursed pursuant to SECTION 2.10(c). The Domestic LC Obligations of any Revolving Lender at any time shall mean its Revolver Pro Rata Share of the Domestic LC Obligations outstanding at such time.
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Examples of Domestic LC Obligations in a sentence

  • If for any reason the Excess Amount at any time is less than the Minimum Excess Amount at such time, the Borrowers shall immediately prepay the Domestic Revolving Loans and/or the Canadian Revolving Loans (other than the Bankers’ Acceptance Advances) and/or Cash Collateralize the Domestic L/C Obligations and/or Canadian L/C Obligations and/or Bankers’ Acceptance Advances in an aggregate amount sufficient to cause the Excess Amount to be greater than or equal to the Minimum Excess Amount.

  • Notwithstanding anything to the contrary contained herein, Domestic Borrower, Administrative Agent and Domestic Lenders hereby agree that all Domestic LC Obligations and all obligations of Domestic Borrower relating thereto shall be satisfied by the prompt issuance of one or more Domestic Revolving Credit Loans that are Domestic Base Rate Loans, which Domestic Borrower hereby acknowledges are requested and Domestic Lenders hereby agree to fund.

  • Each Lender acknowledges and agrees that it has, independently and without reliance upon Agent or any other Lenders, and based upon such documents, information and analyses as it has deemed appropriate, made its own credit analysis of each Obligor and its own decision to enter into this Agreement and to fund Loans and participate in Domestic LC Obligations and UK LC Obligations hereunder.

  • Immediately upon the issuance of a Domestic Letter of Credit or a Domestic LC Guaranty under this Agreement, each Domestic Lender shall be deemed to have irrevocably and unconditionally purchased and received from Administrative Agent, without recourse or warranty, an undivided interest and participation therein equal to such Domestic LC Amount or Domestic LC Obligations multiplied by such Domestic Lender’s Domestic Revolving Loan Percentage.

  • Administrative Agent shall establish in its name for the benefit of the Revolving Lenders a cash collateral account (the "Collateral Account") into which it shall deposit such Cash and/or Cash Equivalents to hold as collateral security for the Domestic LC Obligations.

  • Borrowers shall, promptly upon demand by Issuing Bank or Agent from time to time, Cash Collateralize the Domestic LC Obligations and UK LC Obligations of any Defaulting Lender.

  • The failure of any Lender to fund a Loan, to make any payment in respect of Domestic LC Obligations or UK LC Obligations or to otherwise perform its obligations hereunder shall not relieve any other Lender of its obligations, and no Lender shall be responsible for default by another Lender.

  • Previous research has shown that in some instances code cloning is desirable, whereas in other cases it is not.

  • Each Domestic Revolving Lender shall be obligated to reimburse the L/C Issuer for such Domestic Revolving Lender’s Domestic Revolver Percentage of the amount of each drawing under a Domestic Letter of Credit not reimbursed by the Borrowers and, accordingly, each Domestic Letter of Credit shall constitute usage of the Domestic Revolving Commitment of each Domestic Revolving Lender pro rata in an amount equal to its Domestic Revolver Percentage of the Domestic L/C Obligations then outstanding.

  • In no event shall any Domestic Protective Advance be made that would cause the outstanding Domestic Revolver Loans and Domestic LC Obligations to exceed the aggregate Domestic Revolver Commitments and in no event shall any UK Protective Advance be made that would cause the outstanding UK Revolver Loans and UK LC Obligations to exceed the aggregate UK Revolver Commitments.


More Definitions of Domestic LC Obligations

Domestic LC Obligations. Any Obligations that arise from any draw against any Domestic Letter of Credit or against any Domestic Letter of Credit supported by a Domestic LC Guaranty.
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Domestic LC Obligations means, at any time, an amount equal to the ----------------------- sum of (a) the sum of the aggregate Stated Amount of the then outstanding Domestic Letters of Credit plus the aggregate Stated Amount of the then outstanding Domestic Supported Foreign LCs and (b) the sum of the Assigned Dollar Value of the aggregate amount of drawings under Domestic Letters of Credit plus the Assigned Dollar Value of the aggregate amount of drawings under Domestic Supported Foreign LCs, in each case, which have not then been reimbursed pursuant to Section 2.10(c). The Domestic LC Obligations of any --------------- Domestic Revolving Lender at any time shall mean its Domestic Revolver Pro Rata Share of the aggregate Domestic LC Obligations outstanding at such time.
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Domestic LC Obligations the sum (without duplication) of (a) all amounts owing by Domestic Borrowers for any drawings under Domestic Letters of Credit; (b) the stated amount of all outstanding Domestic Letters of Credit; and (c) all fees and other amounts due and owing with respect to Domestic Letters of Credit.
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Related to Domestic LC Obligations

  • Domestic Obligations means all Obligations owing by the Domestic Loan Parties (other than in respect of Guarantees of Foreign Obligations pursuant to Article IV).

  • LC Obligations means, at any time, the sum, without duplication, of (i) the aggregate undrawn stated amount under all Facility LCs outstanding at such time plus (ii) the aggregate unpaid amount at such time of all Reimbursement Obligations.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • 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 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 Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Matured LC Obligations means all amounts paid by LC Issuer on drafts or demands for payment drawn or made under or purported to be made under any Letter of Credit and all other amounts due and owing to LC Issuer under any LC Application for any Letter of Credit, to the extent the same have not been repaid to LC Issuer (with the proceeds of Loans or otherwise).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • 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.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • Credit Obligations means all principal, interest, fees, reimbursements, indemnifications, and other amounts now or hereafter owed by the Borrower to the Agent and the Banks (or with respect to the Interest Hedge Agreements, any Affiliates of the Banks) under this Agreement, the Revolving Loan Notes, the Swing Line Note, the Letter of Credit Documents, and the other Credit Documents and any increases, extensions, and rearrangements of those obligations under any amendments, supplements, and other modifications of the documents and agreements creating those obligations.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • 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.

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • LOC Obligations means, at any time, the sum of (i) the maximum amount which is, or at any time thereafter may become, available to be drawn under Letters of Credit then outstanding, assuming compliance with all requirements for drawings referred to in such Letters of Credit plus (ii) the aggregate amount of all drawings under Letters of Credit honored by the Issuing Lender but not theretofore reimbursed.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

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

  • Dollar LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Dollar Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Dollar LC Exposure of any Lender at any time shall be its Applicable Dollar Percentage of the total Dollar LC Exposure at such time.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • LC Outstandings means, on any date of determination, the sum of the undrawn stated amounts of all Letters of Credit that are outstanding on such date plus the aggregate principal amount of all unpaid reimbursement obligations of the Borrower on such date with respect to payments made by the LC Issuing Banks under Letters of Credit. The LC Outstandings with respect to any Lender shall equal such Lender’s Percentage of the sum in the immediately preceding sentence.