Existing Facility LC definition

Existing Facility LC is defined in Section 2.20.1.

Existing Facility LC means the letters of credit described on Schedule 1.1(b).

Existing Facility LC means any “Facility LC” issued under the Initial Credit Agreement or the Existing Credit Agreement that is outstanding as of the Closing Date; Exhibit I is a list and brief description of the Existing Facility LCs.

Examples of Existing Facility LC in a sentence

• Each Existing Facility LC shall constitute a Facility LC for all purposes of this Agreement.

• The Borrower shall pay to the Administrative Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, with respect to each Facility LC (including, without limitation, each Existing Facility LC), a letter of credit fee at a per annum rate equal to the Applicable Margin for Eurodollar Loans in effect from time to time on the face amount of such Facility LC, such fee to be payable in arrears on each Payment Date (each such fee described in this sentence an “LC Fee”).

• Subject to Section 3.1, the Company shall give the applicable LC Issuer notice prior to 12:00 noon (New York time) at least three Business Days prior to the proposed date of issuance (other than an Existing Facility LC) or Modification of each Facility LC, specifying the beneficiary, the proposed date of issuance (or Modification) and the expiry date of such Facility LC, and describing the proposed terms of such Facility LC and the nature of the transactions proposed to be supported thereby.

• Subject to Section 3.1, the Company shall give the LC Issuer notice prior to 11:00 a.m. (Chicago time) at least three Business Days prior to the proposed date of issuance (other than an Existing Facility LC) or Modification of each Facility LC, specifying the beneficiary, the proposed date of issuance (or Modification) and the expiry date of such Facility LC, and describing the proposed terms of such Facility LC and the nature of the transactions proposed to be supported thereby.

• The Borrower shall pay to the Agent, for the account of the Lenders ratably in accordance with their respective Pro Rata Shares, with respect to each Facility LC (including, without limitation, each Existing Facility LC), a letter of credit fee at a per annum rate equal to the Applicable Margin for Eurodollar Loans in effect from time to time on the face amount of such Facility LC, such fee to be payable in arrears on each Payment Date (each such fee described in this sentence an “LC Fee”).

More Definitions of Existing Facility LC

Existing Facility LC means the letters of credit described on Schedule 1.1(b). “Facility LC” is defined in Section 2.19(a).

Existing Facility LC means each letter of credit issued under the Prior Credit Agreement and identified in the Credit Agreement.

Existing Facility LC means each letter of credit issued under the Prior Agreement that is listed on Schedule 3.

Existing Facility LC means any “Facility LC” issued under the Original Credit Agreement that is outstanding as of the Closing Date.

Existing Facility LC is defined in Section 2.20.1. "“Extension Request"” is defined in Section 2.21. "“Facility LC"” is defined in Section 2.20.1. "“Facility LC Application"” is defined in Section 2.20.3. "“Facility LC Collateral Account"” is defined in Section 2.20.11. "“Facility Termination Date"” means the date five years after the date of this Agreement or any later date as may be specified as the Facility Termination Date in accordance with Section 2.21 or any earlier date on which the Aggregate Commitment is reduced to zero or otherwise terminated pursuant to the terms hereof. "“FATCA"” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered into pursuant to Section 1471(b)(1) of the Code. “Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as shall be set forth on the Federal Reserve Bank of New York’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate, provided that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. “Federal Reserve Bank of New York’s Website” means the website of the NYFRB at xxxx://xxx.xxxxxxxxxx.xxx, or any successor source. "“Financial Contract"” of a Person means (i) any exchange-traded or over-the-counter futures, forward, swap or option contract or other financial instrument with similar characteristics or (ii) any Rate Management Transaction. 15

Existing Facility LC means any “Facility LC” issued under the Credit Agreement that is outstanding as of the Closing Date; E xhibit G is a list and brief description of the Existing Facility LCs.

Existing Facility LC means each Facility LC issued under the Prior Agreement that is listed on the Existing Facility LC Schedule attached hereto.