Foreign Letter of Credit Sublimit definition

Foreign Letter of Credit Sublimit means the lesser of (a) €75,585,790 and (b) the aggregate unused amount of the Foreign Revolving Commitments then in effect.
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Foreign Letter of Credit Sublimit means, at any time, an amount --------------------------------- designated by the Borrower on the most recent Foreign Letter of Credit Sublimit Notice. As of the Closing Date, the Foreign Letter of Credit Sublimit is $34,000,000. The Foreign Letter of Credit Sublimit is part of, and not in addition to, the Letter of Credit Sublimit.
Sample 1
Foreign Letter of Credit Sublimit means (a) individually, the Australian Letter of Credit Sublimit, the Canadian Letter of Credit Sublimit and Japanese Letter of Credit Sublimit, and (b) collectively, all of the foregoing.
Sample 1

Examples of Foreign Letter of Credit Sublimit in a sentence

  • If as a result of fluctuations in exchange rates or otherwise the Foreign LC Obligations exceed the Foreign Letter of Credit Sublimit, Foreign Borrowers shall Cash Collateralize the Foreign Letters of Credit to the extent necessary to eliminate such excess amount within three Business Days following demand by Agent.

  • The Borrower shall pay to the -------------------------------- Administrative Agent for the account of each Revolving Credit Lender a fee, payable in arrears quarterly on the fifth Business Day after the end of each Fiscal Quarter, equal to the Foreign Letter of Credit Sublimit for such Fiscal Quarter MULTIPLIED by 50% of the Applicable Margin for Eurodollar Rate Advances under the Revolving Credit Facility.

  • The Foreign Letter of Credit Sublimit shall be automatically and permanently reduced from time to time on the date of each reduction in the Foreign Revolving Credit Facility by the amount, if any, by which the amount of the Foreign Letter of Credit Sublimit exceeds the Foreign Revolving Credit Facility after giving effect to such reduction of the Foreign Revolving Credit Facility.

  • The Borrower shall have the right to change the Foreign Letter of Credit Sublimit and the Issuing Bank Foreign Letter of Credit Sublimits by delivering to the Administrative Agent a notice (the "FOREIGN LETTER OF CREDIT SUBLIMIT NOTICE") on the first Business Day of any Fiscal Quarter.


More Definitions of Foreign Letter of Credit Sublimit

Foreign Letter of Credit Sublimit means, at any time, an amount designated by the Borrower on the most recent Foreign Letter of Credit Sublimit Notice. As of the Closing Date, the Foreign Letter of Credit Sublimit is $43,000,000.
Sample 1
Foreign Letter of Credit Sublimit means the lesser of (a) €75,585,790 and (b) the aggregate unused amount of the Foreign RevolvingCommitments then in effect.
Sample 1

Related to Foreign Letter of Credit Sublimit

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) $100,000,000 and (b) the Aggregate Commitments. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $60,000,000.

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $2,500,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • LC Sublimit means $500,000,000.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent amount of the principal amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the Letters of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a)).

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Outstandings means, at any time, the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the amount of all Unpaid Drawings.

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower or its specified Subsidiaries in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • L/C Sublimit has the meaning ascribed to it in Annex B.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Revolving Commitments and $200,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • Letter of Credit Limit means $5,000,000.

  • LC Commitment means that portion of the Aggregate Revolving Commitment Amount that may be used by the Borrower for the issuance of Letters of Credit in an aggregate face amount not to exceed $15,000,000.

  • Swingline Sublimit means an amount equal to the lesser of (a) $15,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • U.S. Letter of Credit means any letters of credit issued or to be issued by the U.S. Issuing Bank under the U.S. Subfacility for the account of the U.S. Borrowers pursuant to Section 2.13.

  • Swing Line Sublimit means an amount equal to the lesser of (a) $25,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Canadian Letter of Credit means a Letter of Credit that is issued pursuant to this Agreement for the account of the Canadian Borrower.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letter of Credit Usage means, as at any date of determination, the sum of (i) the maximum aggregate amount which is or at any time thereafter may become available for drawing under all Letters of Credit then outstanding plus (ii) the aggregate amount of all drawings under Letters of Credit honored by Issuing Lenders and not theretofore reimbursed out of the proceeds of Revolving Loans pursuant to subsection 3.3B or otherwise reimbursed by Company.