Fronted Letter of Credit definition

Fronted Letter of Credit means a Letter of Credit issued by a Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 2.03.

Fronted Letter of Credit means a letter of credit issued by a Fronting Issuing Bank as the sole issuing bank.

Fronted Letter of Credit means any Letter of Credit which is issued by a Fronting L/C Issuer pursuant to Section 2.03(a), in substantially the form of Exhibit E or in such other form as may be acceptable to such Fronting L/C Issuer. Fronted Letters of Credit may be issued in Dollars or an Alternative Currency.

Examples of Fronted Letter of Credit in a sentence

• If such LC Loan relates to a Fronted Letter of Credit, the Credit Facility Agent shall promptly notify each of the Working Capital Lenders of the amount of its share of the payment made under such Fronted Letter of Credit, which shall be such Working Capital Lender’s Commitment Percentage of such amount paid by such Issuing Bank (the “Working Capital Lender Payment Notice”).

• If such LC Loan or failure to make the LC Reimbursement Payment relates to a Fronted Letter of Credit, the Credit Facility Agent shall promptly notify each of the Working Capital Lenders of the amount of its share of the payment made under such Fronted Letter of Credit, which shall be such Working Capital Lender’s Commitment Percentage of such amount paid by such Issuing Bank (the “Working Capital Lender Payment Notice”).

More Definitions of Fronted Letter of Credit

Fronted Letter of Credit has the meaning provided in Section 2.02(a).

Fronted Letter of Credit means a Letter of Credit other than a Non-Fronted Letter of Credit.

Fronted Letter of Credit means (i) any letter of credit issued by an Issuing Bank pursuant to Section 2.01(a)(1)(ii) and (ii) each of the Existing Letters of Credit, and in each case any Replacement Letter of Credit therefor.

Fronted Letter of Credit has the meaning attributed to it in Section 11.1(a).

Fronted Letter of Credit a Letter of Credit issued by an Issuing Lender in which the Lenders purchase risk participations pursuant to Section 3.4(a).

Fronted Letter of Credit means a Letter of Credit issued by the Fronting Bank in which the Lenders purchase a risk participation pursuant to Section 3.1(b).

Fronted Letter of Credit means a Letter of Credit issued by an Issuing Lender in which the Lenders purchase risk participations pursuant to Section 2.03.