L/C Disbursement definition

L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

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L/C Disbursement has the meaning given to that term in Section 3.9.(b).

L/C Disbursement a payment made by an Issuing Lender pursuant to a Letter of Credit.

Examples of L/C Disbursement in a sentence

The Lender shall promptly after such examination notify the Borrower by telephone (confirmed by fax or through Electronic Systems) of such demand for payment if the Lender has made or will make an LC Disbursement thereunder; provided that such notice need not be given prior to payment by the Lender and any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Lender with respect to any such LC Disbursement.
The Lender shall make each Loan to be made by it hereunder on the proposed date thereof available to the Borrower by promptly crediting the amounts in immediately available funds, to the Funding Account; provided that CBFR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.04(d) shall be remitted to the Lender.
Any Loan Party shall fail to pay any principal of or interest on any Loan or any reimbursement obligation in respect of any L/C Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise, and such failure shall continue unremedied for a period of three (3) Business Days after written notice of such failure from the Administrative Agent to the Borrower.

More Definitions of L/C Disbursement

L/C Disbursement means a payment or disbursement made by any Issuing Bank pursuant to a Letter of Credit.

L/C Disbursement means any payment by the L/C Issuer pursuant to a Letter of Credit.

L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit. “L/C Participation Fee” shall have the meaning assigned to such term in Section 2.12(b).

L/C Disbursement means a payment or disbursement made by any Issuing Bank pursuant to a Letter of Credit issued by such Issuing Bank.

L/C Disbursement means, with respect to any Letter of Credit, a disbursement made by the applicable L/C Issuer in connection with a drawing under such Letter of Credit.

L/C Disbursement means any payment made by the L/C Issuer pursuant to a Letter of Credit. “L/C Issuer” means (i) Bank of America, through itself or through one of its designated Affiliates or branch offices, in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder and (ii) solely with respect to the KeyBank L/Cs, KeyBank National Association. “L/C Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts (including all L/C Borrowings). For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. 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 ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. “Lender” means each of the Persons identified as a “Lender” on the signature pages hereto, each other Person that becomes a “Lender” in accordance with this Agreement and, their successors and assigns and, unless the context requires otherwise, includes the Swingline Lender. “Lending Office” means, as to the Administrative Agent, the L/C Issuer or any Lender, the office or offices of such Person described as such in such Person’s Administrative Questionnaire, or such other office or offices as such Person may from time to time notify the Borrower and the Administrative Agent; which office may include any Affiliate of such Person or any domestic or foreign branch of such Person or such Affiliate. “Letter of Credit” means any letter of credit issued hereunder and shall include the Existing Letters of Credit. A Letter of Credit may be a commercial letter of credit or a standby letter of credit. Letters of Credit may be issued in Dollars or in an Alternative Currency. “Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. “Letter of Credit Fee” has the meaning specified in Section 2.03(l). “Letter of Credit Sublimit” means, as of any date of determination, an amount equal to the lesser of (a) $10,000,000 and (b) the Revolving Facility. The Letter of Credit Sublimit is...

L/C Disbursement means a payment made by any Issuing Bank pursuant to a Letter of Credit.