LC Disbursement definition

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

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LC Disbursement means a payment made by an Issuing Lender pursuant to a Letter of Credit issued by it.

LC Disbursement means a payment made by an Issuing Lender pursuant to a Letter of Credit issued by such Issuing Lender.

Examples of LC Disbursement in a sentence

• At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Aggregate Revolving Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(d).

• Regardless of whether the Borrower Representative shall have received such notice, U.S. Borrowers shall reimburse (such obligation to reimburse Issuing Bank shall sometimes be referred to as a “Reimbursement Obligation”) Issuing Bank prior to 1:00 p.m., New York time, on each date that an amount is paid by Issuing Bank under any Letter of Credit (each such date, a “Drawing Date”) in an amount equal to such LC Disbursement so paid by the Issuing Bank.

More Definitions of LC Disbursement

LC Disbursement means a Revolving LC Disbursement or an LC Facility LC Disbursement.

LC Disbursement means a payment made by the Issuing Bank pursuant to a Letter of Credit. All LC Disbursements shall be denominated in (x) with respect to Letters of Credit issued in Dollars, Dollars and (y) with respect to Letters of Credit issued in an Alternative Currency, the applicable Alternative Currency.

LC Disbursement means a payment made by the Issuing Bank pursuant to a demand for payment or drawing under a Letter of Credit.

LC Disbursement means an honoring of a drawing by an Issuing Bank pursuant to a Letter of Credit.

LC Disbursement means a payment made by an Issuing Bank pursuant to a Letter of Credit, including in respect of a time draft presented thereunder; provided that, with respect to any component of any such amount in an LC Alternative Currency under a U.S. Letter of Credit, such amount shall be the Dollar Amount thereof. The date of an LC Disbursement shall be the date of payment by the applicable Issuing Bank under a Letter of Credit or a time draft presented thereunder, as the case may be.

LC Disbursement means any Canadian LC Disbursement or U.S. LC Disbursement.

LC Disbursement means (i) with respect to any Fronted Letter of Credit, a payment made by the Fronted LC Issuing Bank thereof pursuant thereto and (ii) with respect to any Syndicated Letter of Credit, a payment made by a Lender pursuant thereto.