Existing LCs definition

Existing LCs means those letters of credit described on Schedule 1.2 issued pursuant to the Existing Credit Agreement.

Existing LCs means the outstanding letters of credit existing as of the Effective Date and listed on Schedule 1.01(b).

Existing LCs means letters of credit (i) issued under the Existing Credit Facility; (ii) outstanding and available to be drawn as of the Closing Date; and (iii) identified on Schedule III hereto.

Examples of Existing LCs in a sentence

• The Existing LCs will be deemed to be Letters of Credit issued under this Agreement on the Effective Date.

• All Existing L/Cs shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be subject to and governed by the terms and conditions hereof.

• No Default or Event of Default shall have occurred and be continuing hereunder prior to or after giving effect to the making of the initial Loans (including the issuance of Facility L/Cs) or the purchase by Lenders of participation interests in the Existing L/Cs on the first Borrowing Date hereunder.

• Facility L/C Fees shall be calculated, for the period to which such payment applies, for actual days on which such Facility L/C was outstanding during such period (excluding, in the case of the Existing L/Cs, the portion of such period prior to the date of this Agreement), on the basis of a 360-day year.

• Notwithstanding anything herein to the contrary, the Existing L/Cs (all of which are listed and described on Schedule 1.2(a) hereto) shall each constitute a “Letter of Credit” herein for all purposes of the Agreement to the same extent, and with the same force and effect, as if such Existing L/Cs had been issued at the request of the Company on behalf of the Borrowers under the Revolving Credit.

More Definitions of Existing LCs

Existing LCs as defined in Section 3.1.

Existing LCs means each letter of credit set forth on Section 1 of Schedule 6.01.

Existing LCs means those Letters of Credit previously issued by an Existing Lender at the request of the Borrower pursuant to the Original Credit Agreement which remain outstanding on the Closing Date.

Existing LCs has the meaning set forth in Section 2.06.

Existing LCs means each letter of credit identified on Schedule 1.01(b).

Existing LCs means the existing letters of credit set out in Annex D, as such annex shall be updated to the date of closing of the Credit Facility.

Existing LCs means those Letters of Credit issued for the account of the Borrower prior to the date hereof and listed on Schedule 2 hereto.