LC Bank definition

LC Bank has the meaning set forth in the preamble to this Agreement.

LC Bank means the Initial XX Xxxxx or any other Lender approved by the Borrower and the Administrative Agent that may agree to issue Letters of Credit pursuant to an agreement in form satisfactory to the Borrower and the Administrative Agent, so long as such Lender expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as an LC Bank and notifies the Administrative Agent of its applicable lending office (which information shall be recorded by the Administrative Agent in the Register), for so long as such Initial LC Bank or Lender, as the case may be, shall have a Letter of Credit Commitment.

LC Bank shall have the meaning set forth in Section 3.1(c).

Examples of LC Bank in a sentence

• In determining whether to honor any request for drawing under any Letter of Credit by the beneficiary thereof, the LC Bank shall be responsible only to determine that the documents and certificates required to be delivered under such Letter of Credit have been delivered and that they comply on their face with the requirements of such Letter of Credit and that any other drawing condition appearing on the face of such Letter of Credit has been satisfied in the manner so set forth.

• Each Letter of Credit shall be subject either to the Uniform Customs and Practice for Documentary Credits (2007 Revision), International Chamber of Commerce Publication No. 600, and any amendments or revisions thereof adhered to by the LC Bank or the International Standby Practices (ISP98-International Chamber of Commerce Publication Number 590), and any amendments or revisions thereof adhered to by the LC Bank, as determined by the LC Bank.

• It is understood and agreed that, except in the case of gross negligence or willful misconduct by the LC Bank, the LC Bank shall not be liable for any error, negligence and/or mistakes, whether of omission or commission, in following the Seller’s instructions or those contained in the Letters of Credit or any modifications, amendments or supplements thereto.

• Nothing in the preceding sentence shall relieve the LC Bank from liability for its gross negligence or willful misconduct, as determined by a final non-appealable judgment of a court of competent jurisdiction, in connection with actions or omissions described in such clauses (i) through (viii) of such sentence.

• Any notice given by the LC Bank pursuant to this Section may be oral if promptly confirmed in writing; provided that the lack of such a prompt written confirmation shall not affect the conclusiveness or binding effect of such oral notice.

More Definitions of LC Bank

LC Bank means PNC.

LC Bank has the meaning set forth in the preamble in this Agreement. If the context so requires, the LC Bank with respect to any Letter of Credit shall be deemed to mean the LC Bank that issued such Letter of Credit.

LC Bank means PNC and each other Person that is or becomes a party to this Agreement in the capacity of an “LC Bank”.

LC Bank means any Person from time to time party hereto as an LC Bank. For the avoidance of doubt, the “applicable LC Bank” means the LC Bank that issued the relevant Letter of Credit hereunder.

LC Bank and “XX Xxxxx” shall mean each financial institution which agrees to issue Letters of Credit at the request of the Seller by being or becoming a party to this Agreement by executing this Agreement or an Assumption Agreement and which is identified as such from time to time on Schedule III to this Agreement, and any of its successors.

LC Bank shall be defined as in the recitals hereto.

LC Bank means (i) such Lender as is designated as the LC Bank for any Letter of Credit by written notice to the Agent from such Lender and the Borrower and (ii) Wachovia Bank of Georgia, National Association for the Letters of Credit listed in Schedule IX, in such Bank's capacity as LC Bank under the letter of credit facility described in Section 2.05 and its successors in such capacity.