LC Credit Extension definition
LC 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.
LC Credit Extension means any Canadian LC Credit Extension or U.S. LC Credit Extension.
LC Credit Extension means the issuance of a Letter of Credit, the issuance of an amendment to any Letter of Credit which increases the stated amount thereof or the extension of any expiry date of any Letter of Credit.
Examples of LC Credit Extension in a sentence
Such LC Application must be received by the LC Issuer not later than 11:00 a.m. at least four (4) Business Days prior to the proposed LC Credit Extension Date.
Unless otherwise expressly agreed by the LC Issuer and Borrower Representative when an LC Credit Extension is made, (i) the rules of ISP98 shall apply to each standby LC, and (ii) the rules of Uniform Customs shall apply to each documentary LC.
More Definitions of LC Credit Extension
LC Credit Extension means, with respect to any LC, the issuance, amendment, renewal, or increase of LC.
LC Credit Extension means the issuance of any Letter of Credit, or the amendment, extension or renewal of any existing Letter of Credit, in each case by any Issuing Bank.
LC Credit Extension has the meaning set forth in Section 2.01(a).
LC Credit Extension means, with respect to any Letter of Credit, the issuance, amendment or renewal thereof or extension of the expiry date thereof, or the increase of the amount thereof.
LC Credit Extension means, with respect to any LC, the issuance, extension of the expiry date, amendment, renewal, or increase of the amount of such LC. LC Exposure means, at any time and without duplication, the sum of (a) the aggregate undrawn maximum face amount of each LC at such time, plus (b) the aggregate unpaid obligations of Borrower to reimburse the issuer for amounts paid by the issuer under LCs issued under Section 2.C (including all LC Borrowings and excluding any loans to fund such reimbursement obligations under Section 2.C).
LC Credit Extension means with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof (other than pursuant to the terms of an Auto Renewal Letter of Credit), or the increase of the amount thereof. “LC Disbursement” means a payment made by any Issuing Bank pursuant to a Letter of Credit. “LC Documents” means with respect to any Letter of Credit, the LC Application, and any other document, agreement and instrument entered into by the applicable Issuing Bank and the Parent Borrower (or any Subsidiary) or in favor of such Issuing Bank and relating to such Letter of Credit. “LC Exposure” means at any time, the sum of (i) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (ii) the aggregate amount of all LC Disbursements in respect of Letters of Credit that have not yet been reimbursed by or on behalf of the applicable Borrower at such time. 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.
LC 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. “LC Collateral Account” has the meaning assigned to such term in Section 2.04(j)(i). “LC Disbursement” means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit. “LC Exposure” means, at any time, the Dollar Equivalent (if applicable) of the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time and (b) the aggregate principal amount of all LC Disbursements that have not yet been reimbursed at such time. The LC Exposure of any