LC Deposit definition

LC Deposit has the meaning set forth in Section 2.5(j).
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LC Deposit has the meaning given that term in Section 2.3(a).
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LC Deposit means, as to each LC Lender at any time, the amount actually on deposit in the LC Deposit Account to the credit of such Lender’s Sub-Account at such time. The initial amount of each LC Lender’s LC Deposit is set forth opposite such Lender’s name on Schedule 2.01 under the caption “LC Deposit” or opposite such caption in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable. The initial aggregate amount of the Lenders’ LC Deposits is $50,000,000.
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Examples of LC Deposit in a sentence

  • The Pre-Funded L/C Deposit funded by any Pre-Funded L/C Lender shall not be released in connection with any assignment, but shall instead be purchased by the relevant assignee and continued to be held by Deposit Bank for application (if not already applied) pursuant to Section 2.1(b)(vi) in respect of such assignee’s obligations assigned to it.

  • The Pre-Funded L/C Deposits paid to Administrative Agent shall be held by Deposit Bank in the Pre-Funded L/C Deposit Account, and no party other than Issuing Bank shall have a right of withdrawal from the Pre-Funded L/C Deposit Account, or any other right power or interest in or with respect to the Pre-Funded L/C Deposits, except as expressly set forth in Section 2.1(b)(iii), 2.1(b)(iv) and 2.1(b)(vi).

  • The Pre-Funded L/C Deposit funded by a Pre-Funded L/C Lender shall not be released in connection with any assignment of its Pre-Funded L/C Commitment, but shall instead be purchased (to the extent of the Pro Rata Share so assigned) by the relevant assignee and continue to be held for application (if not already applied) pursuant to Section 2.1(b)(vi) in respect of such assignee’s obligations under the Pre-Funded L/C Commitment assigned to it.

  • At the time of the reduction of the Pre-Funded L/C Commitments to zero, Administrative Agent shall request Deposit Bank to withdraw from the Pre-Funded L/C Deposit Account the Pre-Funded L/C Deposits and to pay the same over to Administrative Agent, and Administrative Agent shall return to the Pre-Funded L/C Lenders (ratably in accordance with their respective Pro Rata Share) their Pre-Funded L/C Deposits.

  • In connection with each assignment of a Synthetic LC Deposit, the Synthetic LC Deposit of the assigning Synthetic LC Lender shall not be released, but shall instead be purchased by the relevant assignee, and the amount of such Synthetic LC Deposit shall continue to be held in the Synthetic LC Deposit Account for application (to the extent not already applied) in accordance with Section 2.5 to satisfy such assignee’s obligations in respect of the Synthetic LC Usage.

  • The L/C Deposit shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants, and conditions of this Lease by said Tenant to be kept and performed.

  • If the expiration date of the L/C Deposit is prior to April 1, 2002, the Tenant must supply a new L/C Deposit, extending the expiration date for a period of at least one (1) year, thirty (30) days prior to the expiration date.

  • No Credit Party shall have any responsibility or liability to the Synthetic LC Lenders, the Agents or any other Person in respect of the establishment, maintenance, administration or misappropriation of the Synthetic LC Deposit Account (or any Sub-Account) or with respect to the investment of amounts held therein, including pursuant to paragraph (n) below.

  • No Person shall have the right to make any withdrawal from the Synthetic LC Deposit Account or to exercise any other right or power with respect thereto except as expressly provided in paragraph (l) below or in Section 10.6(g).

  • Failure on the part of the Tenant to supply such new L/C Deposit on a timely basis, shall be considered as an Event of Default of this Lease.


More Definitions of LC Deposit

LC Deposit means, with respect to each LC Lender, the amount of such LC Lender’s LC Commitment that such LC Lender shall deposit in such LC Lender’s Sub-Account with Administrative Agent on or after the Closing Date, and that amount shall in turn be deposited by Administrative Agent in the LC Deposit Account, as such amount may be (a) reduced or reinstated from time to time as a result of withdrawals from the LC Deposit Account debited by Administrative Agent from and payments to the LC Deposit Account credited by Administrative Agent to the Sub-Account of such LC Lender pursuant to Section 2.4, and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.6 and, “LC Deposits” mean such deposits of all LC Lenders.
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LC Deposit means, as to each LC Participant, the cash deposit made by such LC Participant pursuant to Section 2.2(a), as such deposit may be (x) reduced from time to time pursuant to the terms of this Agreement and (y) reduced or increased from time to time pursuant to assignments by or to such LC Participant pursuant to Section 10.3. Unless otherwise agreed by the LC Issuer, the initial amount of each LC Participant's LC Deposit shall be equal to the amount of its Commitment on the Closing Date or on the date that such Person becomes a LC Participant pursuant to Section 10.3.
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Related to LC Deposit

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • LC means Letter of Credit

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

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • 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 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.

  • 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.

  • LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.

  • Facility Letter of Credit Fee is defined in Section 2A.8.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • 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 Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Cash Collateral Account means a blocked account at a commercial bank specified by the Administrative Agent in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent.

  • Dollar LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Dollar Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Dollar LC Exposure of any Lender at any time shall be its Applicable Dollar Percentage of the total Dollar LC Exposure at such time.

  • Multicurrency LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Multicurrency Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Multicurrency LC Exposure of any Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time.

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

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding standby Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Standby LC Exposure at such time.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • LC Obligations means, at any time, the sum, without duplication, of (i) the aggregate undrawn stated amount under all Facility LCs outstanding at such time plus (ii) the aggregate unpaid amount at such time of all Reimbursement Obligations.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • 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.

  • Commercial LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding commercial Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements relating to commercial Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Commercial LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the total Commercial LC Exposure at such time.

  • 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 Fees shall have the meaning set forth in Section 3.2.