Existing Letters of definition

Existing Letters of. Credit shall mean each letter of credit identified on Schedule 1.1(E) which were issued under the Existing Credit Agreement prior to the date hereof upon the application of a Loan Party and are outstanding on the Closing Date. Expiration Date shall mean, with respect to the Revolving Credit Commitments, October 25, 2026. FATCA shall mean 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 agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation or rules adopted pursuant to any intergovernmental agreement, treaty or convention among Official Bodies and implementing such Sections of the Code. Federal Funds Effective Rate for any day shall mean the rate per annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%) announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the “Federal Funds Effective Rate” as of the date of this Agreement; provided, if such Federal Reserve Bank (or its successor) does not announce such rate on any day, the “Federal Funds Effective Rate” for such day shall be the Federal Funds Effective Rate for the last day on which such rate was announced.
Sample 1
Existing Letters of. Credit shall mean those letters of credit that were issued by Citizens Bank of Pennsylvania for the account of the Borrower or its Subsidiaries under and pursuant to the Existing Credit Agreement, a list of which is set forth on Schedule 1.1(E) hereto. Expiration Date shall mean February 27, 2021, as such date may be extended pursuant to Section 2.12 [Extensions of the Expiration Date]. FATCA shall mean 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 agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements entered into to implement such Sections of the Code, and any laws, rules and practices adopted by a non-U.S. jurisdiction to effect any such intergovernmental agreement. Fed Overnight Bank Funding Rate shall mean, for any day, the rate comprised of both overnight federal funds and overnight Eurocurrency borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the Federal Reserve Bank of New York (“NYFRB”), as set forth on its public website from time to time, and as published on the next succeeding Business Day as the overnight bank funding rate by the NYFRB (or by such other recognized electronic source (such as Bloomberg) selected by the Administrative Agent for the purpose of displaying such rate); provided, that if such day is not a Business Day, the Fed Overnight Bank Funding Rate for such day shall be such rate on the immediately preceding Business Day; provided, further, that if such rate shall at any time, for any reason, no longer exist, a comparable replacement rate determined by the Administrative Agent at such time (which determination shall be conclusive absent manifest error). If the Fed Overnight Bank Funding Rate determined as above would be less than zero, then such rate shall be deemed to be zero. The rate of interest charged shall be adjusted as of each Business Day based on changes in the Fed Overnight Bank Funding Rate without notice to the Borrower. Federal Funds Effective Rate for any day shall mean the rate per annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%, with .005% being rounded up) announced by the Federal Reserve Bank of New York (or any successor)...
Sample 1
Existing Letters of. Credit shall mean those letters of credit issued by the Issuing Lender or another Lender and outstanding as of immediately prior to the Fourth Restatement EffectiveSecond Amendment Closing Date as described on Schedule 1.1(E) attached hereto.
Sample 1

Examples of Existing Letters of in a sentence

  • All Existing Letters of Credit 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.

  • As of the Closing Date, each of the Existing Letters of Credit shall constitute, for all purposes of this Agreement and the other Loan Documents, a Letter of Credit issued and outstanding hereunder.

  • All Existing Letters of Credit shall be deemed to have been issued pursuant hereto, and from and after the Effective Date shall be subject to and governed by the terms and conditions hereof.

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

  • The Existing Letters of Credit shall, as of the Closing Date, be deemed to have been issued as Letters of Credit hereunder and subject to and governed by the terms of this Agreement.

  • In the event of any conflict between this Agreement and any LOC Document (including any letter of credit application and any LOC Documents relating to the Existing Letters of Credit), this Agreement shall control.

  • The parties hereto agree that the Existing Letters of Credit shall be deemed Letters of Credit for all purposes under this Agreement, without any further action by the Borrower.

  • All Existing Letters of Credit shall be deemed to be issued hereunder and shall constitute Letters of Credit subject to the terms hereof.

  • Borrowers and the Lender Group hereby acknowledge and agree that all Existing Letters of Credit shall constitute Letters of Credit under this Agreement on and after the Closing Date with the same effect as if such Existing Letters of Credit were issued by Issuing Bank at the request of Borrowers on the Closing Date.

  • The Existing Letters of Credit shall be deemed to have been issued hereunder as of the Effective Date.


More Definitions of Existing Letters of

Existing Letters of. Credit shall mean the letters of credit outstanding on the Closing Date and listed on Schedule 1.1 hereto.
Sample 1
Existing Letters of. Credit shall mean (a) that certain Letter of Credit numbered SPA008192 issued by National City Bank of Pennsylvania on December 16, 1999 and (b) that certain Letter of Credit numbered SPA008275 issued by National City Bank of Pennsylvania on June 13, 2000. Facility Fees shall mean the fees referred to in Sections 2.4. Federal Funds Effective Rate for any day shall mean the rate per annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%) announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight federal funds transactions arranged by federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the "Federal Funds Effective Rate" as of the date of this Agreement; provided, if such Federal Reserve Bank (or its successor) does not announce such rate on any day, the "Federal Funds Effective Rate" for such day shall be the Federal Funds Effective Rate for the last day on which such rate was announced. FMIC shall mean FreeMarkets Investment Company, Inc., a Delaware corporation and a wholly-owned Subsidiary of the Borrower. Foreign Subsidiary shall mean any Subsidiary of the Borrower which is organized under the laws other than of any jurisdiction within the United States. GAAP shall mean generally accepted accounting principles as are in effect from time to time, subject to the provisions of Section 1.3, and applied on a consistent basis both as to classification of items and amounts. Guarantor shall mean, as of any date of determination, each Significant Subsidiary of the Borrower. Guarantor Joinder shall mean a joinder in the form of Exhibit 1.1(G)(1) by a Significant Subsidiary as a Guarantor under the Guaranty Agreement, the Security Agreement and the Intercompany Subordination Agreement.
Sample 1
Existing Letters of. Credit shall mean all letters of credit outstanding on the Closing Date issued by PNC Bank under and pursuant to the terms of the Existing Credit Agreement, and Existing Letter of Credit shall mean any of the Existing Letters of Credit. Expiration Date shall mean May 31, 2005. Facility Fee shall have the meaning ascribed to it in Section 2.03 of this Agreement.
Sample 1
Existing Letters of. Credit shall mean the letters of credit listed on Schedule 1.1(D) attached hereto. Extended Loans/Commitments shall mean extended Revolving Credit Loan and/or Extended Revolving Credit Commitments. Extended Revolving Credit Loans shall have the meaning assigned to such term in Section 2.15(i). Extended Revolving Credit Commitments shall have the meaning assigned to such term in Section 2.15(i). Extending Lender shall have the meaning assigned to such term in Section 2.15(ii). Extension Agreement shall have the meaning assigned to such term in Section 2.15(iii). Extension Election shall have the meaning assigned to such term in Section 2.15(ii). Extension Request shall have the meaning assigned to such term in Section 2.15(i). FATCA shall mean 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 agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Official Bodies entered into in connection with the implementation of the foregoing. FCPA shall mean the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. 18 Federal Funds Effective Rate for any day shall mean the rate per annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%, with .005% being rounded up) announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight federal funds transactions on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the “Federal Funds Effective Rate” as of the date of this Agreement; provided, if such Federal Reserve Bank (or its successor) does not announce such rate on any day, the “Federal Funds Effective Rate” for such day shall be the Federal Funds Effective Rate for the last day on which such rate was announced. Foreign shall mean, with respect to a Loan Party or a Subsidiary, one which is organized under the laws of a jurisdiction other than the United States of America, any Stat...
Sample 1
Existing Letters of. Credit shall mean the letters of -------------------------- credit listed on Schedule 2.1 and previously issued under the Existing ------------ Credit Agreement. Existing Loans shall mean the Existing Revolving Credit -------------- Loans, the Existing Swingline Loans and the Existing Term Loans.
Sample 1
Existing Letters of. CREDIT shall mean the letters of credit listed on SCHEDULE 1(E). The Existing Letters of Credit shall be Letters of Credit under this Agreement on and after the Closing Date and the Banks shall participate in such Letters of Credit pursuant to Section 2.9. EXPIRATION DATE shall mean, with respect to the Commitments, March 17, 2003.
Sample 1

Related to Existing Letters of

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • 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.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

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

  • Commitment Letters has the meaning set forth in Section 4.5.

  • Credit Agreements means any promissory note, mortgage, loan agreement, indenture or similar instrument or agreement to which the Company or any of its Subsidiaries is or becomes a borrower, as such instruments or agreements may be amended, restated, supplemented or otherwise modified from time to time and including any one or more refinancing or replacements thereof, in whole or in part, with any other debt facility or debt obligation, for as long as the payee or creditor to whom the Company or any of its Subsidiaries owes such obligation is not an Affiliate of the Company.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a), as supplemented by Section 6.11, as applicable.

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

  • Existing Credit Agreements has the meaning set forth in the recitals hereto.

  • 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.

  • Facility Agreements means the agreements of that name between the Issuer and different

  • Equity Agreements has the meaning set forth in Section 5.1.

  • Letters of Credit as defined in Section 3.1(a).

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Commitment Letter has the meaning set forth in Section 5.7.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Guaranty Agreements means and includes the Guarantee of the Loan Parties provided for in Section 11, and any other guaranty agreement executed and delivered in order to guarantee the Obligations or any part thereof in form and substance reasonably acceptable to the Administrative Agent.

  • Debt Commitment Letter has the meaning set forth in Section 6.6.

  • Existing Agreements has the meaning as set forth in Section 3.2 hereof.

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

  • Auto-Reinstatement Letter of Credit has the meaning specified in Section 2.03(b)(iv).

  • Fee Letters means, collectively, (a) the Arranger Fee Letter and (b) the Administrative Agent Fee Letter.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).