LC Draw Amount definition

LC Draw Amount is defined in Section 1.3.
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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 "Superseded Agreements" is defined in Section 7.5.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 DRAWEE. CANCELLATION OF LETTER OF CREDIT PRIOR TO...
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Related to LC Draw Amount

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • 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 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 Commitment Amount means $600,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.08.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

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

  • 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.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • LC means Letter of Credit

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

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

  • 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).

  • Class A Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • 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.

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

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

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

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

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

  • LOC Committed Amount shall have the meaning set forth in Section 2.3(a).

  • 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.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • LC Reserve the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting charges owing to the Issuing Bank.