Fronting Limit definition

Fronting Limit means, at any time, with respect to any Issuing Bank, the amount set forth opposite the name of such Issuing Bank in the column entitled “Fronting Limit” on Schedule II (Issuing Bank Limits), or, in the case of any Working Capital Lender that becomes an Issuing Bank hereunder pursuant to Section 3.05 (Resignation as an Issuing Bank) or otherwise, such amount as set forth in the agreement evidencing the appointment of such Working Capital Lender as an Issuing Bank.
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Fronting Limit means, with respect to each Fronting Lender, the maximum Outstanding Principal of Letters of Credit for which such Lender is obligated to be the Fronting Lender hereunder, which limit is set forth opposite the name of such Fronting Lender on Schedule A annexed hereto, as amended from time to time with the written consent of the applicable Fronting Lender.
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Fronting Limit means, at any time, with respect to any Issuing Bank, the amount set forth opposite the name of such Issuing Bank in the column entitled “Fronting Limit” on Schedule II, or, in the case of any Lender that becomes an Issuing Bank hereunder pursuant toSection 2.2(m) (Resignation as Issuing Bank) or otherwise, such amount as set forth in the agreement evidencing the appointment of such Lender as an Issuing Bank
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Examples of Fronting Limit in a sentence

  • For the avoidance of doubt, subject to compliance with the foregoing requirements and Sections 3.01(a) and 3.01(f), the Borrower may request Fronted Letters of Credit from an Issuing Bank with a Fronting Limit up to the Issuing Bank’s full Fronting Limit.

  • For the avoidance of doubt, subject to compliance with the foregoing requirements and Sections 3.01(a) and 3.01(f) (Letters of Credit), the Borrower may request Fronted Letters of Credit from an Issuing Bank with a Fronting Limit up to the Issuing Bank’s full Fronting Limit.


More Definitions of Fronting Limit

Fronting Limit means, with respect to (i) Bank of America, as Issuing Lender, $125,000,000, (ii) Citibank, N.A., as Issuing Lender, $125,000,000, (iii) Deutsche Bank AG New York Branch, as Issuing Lender, $125,000,000, (iv) HSBC Bank USA, N.A., as Issuing Lender, $125,000,000 and (v) with respect to any other Issuing Lenders, such amount as mutually agreed between such Issuing Lender and the Company, in each case as such amount may be modified from time to time by mutual agreement of the Company and such Issuing Lender.
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Fronting Limit means, with respect to (i) Bank of America, as Issuing Lender, $125,000,000, (ii) Citibank, N.A., as Issuing Lender, $125,000,000, (iii) HSBC Bank USA, N.A., as Issuing Lender, $125,000,000 and (iv) with respect to any other Issuing Lenders, such amount as mutually agreed between such Issuing Lender and the Company, in each case as such amount may be modified from time to time by mutual agreement of the Company and such Issuing Lender.
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Related to Fronting Limit

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

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standby Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.