LC Credit Event definition

LC Credit Event has the meaning set forth in Section 3.09(a).
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LC Credit Event means, in respect of a LC delivered to the Collateral Agent by or on behalf of KMI hereunder, the occurrence of either of the following circumstances:
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Examples of LC Credit Event in a sentence

  • Each giving of a Notice of LC Credit Event hereunder, each giving of a Notice of Borrowing hereunder and each acceptance by Borrower of the proceeds of any Loan made hereunder shall be deemed to be a representation and warranty by Borrower on the date of such notice or acceptance as to the facts specified in Sections 8.3(ii), 8.3(iii) and 8.3(iv).

  • Upon the receipt of a Notice of LC Credit Event, the Agent shall promptly notify each Lender of the contents thereof and of the amount of such Lender's participation in such Letter of Credit.

  • Each Notice of LC Credit Event shall be deemed to be a representation and warranty by the Company delivering such Notice of LC Credit Event to the Lenders and the Agent as of the date of the issuance or increase of the relevant Letter of Credit as to the facts specified in clauses (iii), (iv) and (v) above.

  • The Agent shall be entitled to rely upon, and shall be fully protected in relying upon, any Notice of Borrowing, Notice of LC Credit Event or similar notice believed by the Agent in good faith to be genuine.

  • Each borrowing, each giving of a Notice of LC Credit Event hereunder and each giving of a Notice of Borrowing hereunder shall be deemed to be a representation and warranty by Borrower on the date of such borrowing or notice as to the facts specified in Sections 8.2(b), 8.2(c) and 8.2(d).

  • Except as set forth in the final paragraph of Section 2.1(c), each borrowing, each giving of a Notice of LC Credit Event hereunder and each giving of a Notice of Borrowing hereunder shall be deemed to be a representation and warranty by each Credit Party on the date of such borrowing or notice as to the facts specified in Sections 8.2(b), 8.2(c) and 8.2(d).

  • Each borrowing, each giving of a Notice of LC Credit Event hereunder and each giving of a Notice of Borrowing hereunder shall be deemed to be a representation and warranty by Borrowers on the date of such borrowing or notice as to the facts specified in Sections 8.2(b), 8.2(c) and 8.2(d).

  • Each giving of a Notice of LC Credit Event hereunder, each giving of a Notice of Borrowing hereunder and each acceptance by any Borrower of the proceeds of any Loan made hereunder shall be deemed to be (i) a representation and warranty by each Borrower on the date of such notice or acceptance as to the facts specified in this Section, and (ii) a restatement by each Borrower that each and every one of the representations made by it in any of the Financing Documents is true and correct as of such date.

  • Except as set forth in the final two paragraphs of Section 2.1(c) and Section 2.1(c)(iii)(D)(3) and (4), each borrowing, each giving of a Notice of LC Credit Event hereunder and each giving of a Notice of Borrowing hereunder shall be deemed to be a representation and warranty by each Credit Party on the date of such borrowing or notice as to the facts specified in Sections 8.2(b), 8.2(c) and 8.2(d).

  • The Administrative Agent shall have received a Notice of Borrowing or Notice of LC Credit Event (in each case, with a copy of such notice to the Revolving Agent) pursuant to Section 2.02 or 3.01 hereof, as applicable (and, in the case of any Support Agreement, receipt by Administrative Agent (with a copy of such notice to the Revolving Agent) of a Notice of LC Credit Event in accordance with Section 3.01).

Related to LC Credit Event

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Credit Event UPB With respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Credit Event Amount With respect to each Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Expiration Date means the day that is seven days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Aggregate Outstanding Extensions of Credit as to any Lender with respect to any Type of Loan at any time, an amount equal to the sum of (a) the aggregate principal amount of all Loans of such Type made by such Lender then outstanding and (b) such Lender's Commitment Percentage of the L/C Obligations then outstanding.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.