Domestic Letter of Credit definition

Domestic Letter of Credit means each Letter of Credit issued hereunder for the account of the Domestic Borrowers.

Domestic Letter of Credit means any letter of credit issued (or deemed issued) pursuant to Section 2.23 and designated (or deemed designated) as such.

Domestic Letter of Credit if issued or deemed issued under the Domestic Revolving Credit Commitments and shall be a “Multicurrency Letter of Credit” if issued or deemed issued under the Multicurrency Revolving Credit Commitments.

Examples of Domestic Letter of Credit in a sentence

• Upon the drawing of any Domestic Letter of Credit for which funds are on deposit as cash collateral, such funds shall be applied to reimburse the L/C Issuer and, to the extent not so applied, shall thereafter be applied to satisfy other Obligations.

• Each request by the Lead Borrower or the Canadian Borrower, as applicable, for the issuance or amendment of a Domestic Letter of Credit or a Canadian Letter of Credit, as applicable, shall be deemed to be a representation by the Domestic Borrowers or the Canadian Borrower, as applicable, that the Domestic L/C Credit Extension or Canadian L/C Credit Extension, as applicable, so requested complies with the conditions set forth in the provisos to the two preceding sentences, as applicable.

• The Lead Borrower or the Canadian Borrower, as applicable, shall promptly examine a copy of each Domestic Letter of Credit or Canadian Letter of Credit, as applicable, and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Lead Borrower’s or the Canadian Borrower’s, as applicable, instructions or other irregularity, the Lead Borrower or the Canadian Borrower, as applicable, will immediately notify the L/C Issuer.

• Each request by the Parent Borrower for the issuance or amendment of a Domestic Letter of Credit shall be deemed to be a representation by the Parent Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.

• The Parent Borrower shall pay directly to the Domestic L/C Issuer for its own account, in Dollars, a fronting fee with respect to each Domestic Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the actual daily maximum amount available to be drawn under such Domestic Letter of Credit (whether or not such maximum amount is then in effect under such Domestic Letter of Credit) and on a quarterly basis in arrears.

More Definitions of Domestic Letter of Credit

Domestic Letter of Credit means any standby letter of credit issued hereunder by the Domestic L/C Issuer. 

Domestic Letter of Credit if an Existing Letter of Credit and listed on Schedule 1.01(d) as a Domestic Letter of Credit or if issued or deemed issued under the Domestic Revolving Credit Commitments, a “Multicurrency Letter of Credit” if an Existing Letter of Credit and listed on Schedule 1.01(d) as a Multicurrency Letter of Credit or issued or deemed issued under the Multicurrency Revolving Credit Commitments or a “U.K. Letter of Credit” if issued or deemed issued under the U.K. Revolving Credit Commitments.

Domestic Letter of Credit means any standby letter of credit issued hereunder by the Domestic L/C Issuer.

Domestic Letter of Credit means any letter of credit denominated in Dollars and (a) issued by the Domestic L/C Issuer for the account of an L/C Account Party pursuant to the terms of this Agreement and (b) issued by Wachovia for the account of an L/C Account Party pursuant to the terms of the Existing Letter of Credit Agreement.

Domestic Letter of Credit means any Letter of Credit denominated in Dollars.

Domestic Letter of Credit means any Letter of Credit which the Parent Borrower requests pursuant to clause (i) of Section 2.05(a).

Domestic Letter of Credit means (i) any letter of credit issued by the Issuing Lender for the account of Xxxx in accordance with the terms of Section 2.2 and (ii) each Existing Letter of Credit.