Fronted LC means any Letter of Credit that is not a Swingline LC.
Fronted LC means, in respect the Canadian Syndicated Facility, a Letter of Credit issued by a Canadian Fronting Lender for the account of the Canadian Syndicated Facility Lenders and, in respect of the U.S. Syndicated Facility, a Letter of Credit issued by the U.S. Fronting Lender for the account of the U.S. Syndicated Facility Lenders.
Examples of Fronted LC in a sentence
Each Lender agrees that, in paying any drawing under a Fronted LC, the applicable Fronting Lender shall not have any responsibility to obtain any document (other than as expressly required by such Fronted LC) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of any Person delivering any such document.
More Definitions of Fronted LC
Fronted LC means a Letter of Credit issued by a Fronting Lender for the account of the Canadian Facility Lenders.