LC Draw definition

LC Draw is defined in Section 1.3.
Sample 1Sample 2Sample 3
LC Draw means a payment made by the Administrative Agent pursuant to a Letter of Credit which was presented to the Administrative Agent for a draw of proceeds thereunder.
Sample 1Sample 2
LC Draw has the meaning specified in Section 2.01.
Sample 1

More Definitions of LC Draw

LC Draw is defined in Section 1.3. "LC Draw Amount" is defined in Section 1.3. "Letter of Credit" is defined in Section 1.1. "Loan Documents" is defined in Section 3.1. "Material Adverse Effect" is defined in Section 3.1. "Maximum Rate" is defined in Section 7.10. "New York Banking Day" is defined in Section 2.1. "Obligations" is defined in Section 2.2. "One Month LIBOR Rate" is defined in Section 2.1. "Reimbursement Agreement" is defined in Section 1.1. “Person” is defined in Section 6.1. "Reprice Date" is defined in Section 2.1. "Security Agreement" is defined in Section 1.1. "Superseded Agreements" is defined in Section 7.5. Exhibits: Exhibit A Form of Letter of Credit Exhibit B Form of Application Exhibit C Reimbursement Agreement Exhibit D Security Agreement Schedules: Schedule 4.3 Schedule of Company Subsidiaries [SIGNATURE PAGE FOLLOWS] IN WITNESS WHEREOF, the Company and the Bank have caused this Agreement to be duly executed as of the Effective Date first written above. M/I HOMES, INC., an Ohio corporation By: Its: Senior Vice President, Finance and Business Development and Treasurer U.S. BANK NATIONAL ASSOCIATION, a national banking association By: Its: EXHIBIT A Form of Letter of Credit U.S. BANK NATIONAL ASSOCIATION SWIFT: XXXXXX00XXX INTERNATIONAL DEPT. SL-MO-L2IL TELEX: 000 XXXXXX XXXXXX TELEPHONE: 000-000-0000 XX. XXXXX, XX 00000 FACSIMILE: 000-000-0000 DATE: BENEFICIARY: OUR IRREVOCABLE LETTER OF CREDIT NO. SLCLSTL0XXXX GENTLEMEN: WE HEREBY ISSUE OUR IRREVOCABLE LETTER OF CREDIT NO. SLCLSTL0XXXX IN FAVOR OF YOURSELVES FOR THE ACCOUNT OF UP TO THE AGGREGATE AMOUNT OF USD (AMOUNT IN WORDS AND 00/100 UNITED STATES DOLLARS) AVAILABLE BY YOUR DRAFT AT SIGHT DRAWN ON U.S. BANK NATIONAL ASSOCIATION, ST. LOUIS, MISSOURI ACCOMPANIED BY: A DATED AND SIGNED STATEMENT APPEARING ON ITS FACE TO BE EXECUTED BY BENEFICIARY OR DULY AUTHORIZED AGENT THEREOF CERTIFYING THAT: “ .” THIS INSTRUMENT MUST BE PRESENTED WITH THE ABOVE REFERENCED DOCUMENTS FOR NEGOTIATION. DRAFTS MUST BE DRAWN AND PRESENTED AT U.S. BANK NATIONAL ASSOCIATION, INTERNATIONAL DEPT., SL-MO-L2IL, 000 XXXXXX XXXXXX, XX. XXXXX, XXXXXXXX 00000 NOT LATER THAN (EXPIRY DATE). EACH DRAFT MUST STATE THAT IT IS “DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION, ST. LOUIS, MISSOURI LETTER OF CREDIT NO. SLCLSTL0XXXX DATED (ISSUANCE DATE).” WE HEREBY ENGAGE WITH THE DRAWERS OF ALL DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS CREDIT, THAT SUCH DRAFTS WILL BE DULY HONORED UPON PRESENTATION TO THE DRAWE...
Sample 1
LC Draw an Interest Drawing, a Principal Drawing, a Premium Drawing, or a Remarketing Drawing.
Sample 1
LC Draw means the draw on the LC Proceeds.
Sample 1

Related to LC Draw

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

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

  • LC means Letter of Credit

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

  • 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).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • 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.

  • 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.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

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

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

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

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • U.S. Swingline Loan means any swingline loan denominated in Dollars made by the applicable Swingline Lender to a US Borrower pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

  • 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.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Letters of Credit as defined in Section 3.1(a).

  • Unpaid Drawing shall have the meaning provided in Section 3.4(a).

  • Multicurrency Loan means a Loan denominated in Dollars or an Agreed Foreign Currency.

  • LC Outstandings means, on any date of determination, the sum of the undrawn stated amounts of all Letters of Credit that are outstanding on such date plus the aggregate principal amount of all unpaid reimbursement obligations of the Borrower on such date with respect to payments made by the LC Issuing Banks under Letters of Credit. The LC Outstandings with respect to any Lender shall equal such Lender’s Percentage of the sum in the immediately preceding sentence.

  • 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.

  • 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 Facility Loans shall include the Other Revolving Loans.