Financial Letter of Credit Sublimit definition

Financial Letter of Credit Sublimit means an amount equal to $300,000,000. The Financial Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility.

Financial Letter of Credit Sublimit at any time, a dollar amount equal to the lesser of (a) 25% of the aggregate Commitments outstanding at such time and (b) the L/C Commitment.

Financial Letter of Credit Sublimit means, at any time, an amount equal to 20% of the then Aggregate Commitments. The Financial Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

Examples of Financial Letter of Credit Sublimit in a sentence

• The amount of any such reduction shall not be applied to the Alternative Currency Sublimit, the Financial Letter of Credit Sublimit or the Designated Borrower Sublimit unless otherwise specified by the Company.

• This means that when listing failure mode, effects or causes for different items this information should be taken mostly from previews cases (experiences) due to the fact that products do not change drastically during the development process so a lot of their possible problems are similar.

• If, at any time, the aggregate outstanding amount of all Revolving Financial Letters of Credit exceeds the Revolving Financial Letter of Credit Sublimit, the Borrowers shall within one Business Day provide cash collateral in respect of the Revolving Letter of Credit Obligations in the manner set forth in Section 9.3 in an amount equal to 105% of such excess.

• If, at any time, the aggregate outstanding amount of all Financial Letters of Credit exceeds the Financial Letter of Credit Sublimit, the Borrower shall forthwith provide cash collateral in respect of the Letter of Credit Obligations in the manner set forth in Section 9.3 in an amount equal to 105% of such excess.

More Definitions of Financial Letter of Credit Sublimit

Financial Letter of Credit Sublimit means an amount equal to $300,000,000. The Financial Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

Financial Letter of Credit Sublimit means $0.00.

Financial Letter of Credit Sublimit means $100,000,000.00.

Financial Letter of Credit Sublimit means $20,000,000.

Financial Letter of Credit Sublimit means $15,000,000.

Financial Letter of Credit Sublimit means $40,000,000.

Financial Letter of Credit Sublimit means an amount equal to $75,000,000. The Financial Letter of Credit Sublimit is part of, and not in addition to, the Letter of Credit Sublimit. “Foreign Lender” means (a) if any Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if any Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. “Foreign Obligor” means a Loan Party that is a Foreign Subsidiary. “Foreign Subsidiary” means any Subsidiary other than a Domestic Subsidiary. “FRB” means the Board of Governors of the Federal Reserve System of the United States. “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders in accordance with the terms hereof.