LC Event definition

LC Event shall have the meaning set forth in the Preamble hereto.
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LC Event means issuance, increase, extension or other amendment (other than pursuant to the terms of an Evergreen Credit) of a Credit.
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LC Event means, as of any time, (i) if the issuer of Standby LC is not an Affiliate of Xxxx, that (a) the issuer of the Standby LC ceases to be rated at least “A-“ by S&P or “A3” by Xxxxx’x, (b) the issuer of such Standby LC shall disaffirm, disclaim, repudiate or reject, in whole or in part, or challenge the validity of, such Standby LC or (c) any Bankruptcy shall occur with respect to the issuer of such Standby LC; or (ii) in any case, that (a) the Standby LC is then due to expire in less than 90 days or (b) the available amount of the Standby LC is less than the Required Available Amount.
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Examples of LC Event in a sentence

  • Subject to the provisions of Paragraph 15(c), upon the occurrence of an L/C Event of Default, the DIP L/C Issuer is authorized to exercise its rights and remedies under or pursuant to the DIP L/C Facility Documents, the Interim Order, this Final Order and applicable law.

  • Many items are overseen by the Chamber that have a vital impact on our marketing efforts: TourLewisCounty.org website, LC Event Guide brochure, LC Official Visitor’s Guide and STP.

  • He is also a DOCDEX Expert, ICC Centre for Expertise and holds the FCIB pro- fessional designation Certified International Credit Professional.2005 MIAMI CORPORATE LC USERS’ UPDATEThe Premier corporate LC Event of the Year!sponsored by the Institute of International Banking Law & Practice20405 Ryecroft Court Montgomery Village, MD 20886-4018 USA1.2.3.4.

  • Figure 7 below shows the overall set of events designed for loan servicing.L/C EventFacility Event L/C Event Group L/C Adjustment L/C FX Revaluation L/C IssuanceL/C Iss.

  • OR L/C Event L/C ReferenceReferenceYThe letter of credit to which this event relates.

  • Subsequent fourth lower level functional goal, letter of Credit Manager uses smart contracts to guarantee payments among the contracting parties, thus minimizing the risk and transaction time involved in the process, it further has partial refinement goals as LC Event Manager and SWIFT Message Transmission Manager which help in keeping a track of the transaction and securely transmitting the required information and instructions.

  • As regards equipment, an average priced (c.a. 200 €) digital camera connected to a PC would be sufficient.Schematic flow of the streaming process as described by LC: Event -> rec.

  • On the date hereof and on the date of any LC Event, Applicant makes to Goldman the representations and warranties set forth in Article III of the Credit Agreement with each reference therein to “this Agreement”, “hereunder”, “hereof” and words of like import referring to the Credit Agreement being deemed to be a reference to this Agreement and defined terms therein being deemed, mutatis mutandis, to be a reference to this Agreement and the corresponding defined terms herein.


More Definitions of LC Event

LC Event means, (i) the replacement of any LC Bank with another LC Bank that is not approved in writing by the Administrative Agent and the Required Lenders in their sole discretion exercised in good faith (without limitation to the Administrative Agent's and the Required Lenders' sole discretion with respect to any issuer of a replacement LC Bank, the Administrative Agent and such Lenders may elect not to approve a replacement LC Bank because (a) of the amount of any Lender's other credit exposure to such replacement LC Bank, (b) such replacement LC Bank shall have a long-term debt rating assigned by S&P's and Moody's of less than A+/Aa3 (or the then equivalent rating), or (c) such replacement LC Bank shall have a long-term debt rating assigned by S&P's and Moody's of greater than A+/Aa3 (or the then equivalent rating) but shall be on negative watch, negative credit watch, negative outlook or other similar reports) or (ii) the then existing LC Bank is assigned a long-term debt rating by S&P's or Moody's of less than A+/Aa3 (or the then equivalent rating); provided, that in the event of a split of such long-term debt ratings, the lower rating shall apply.
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LC Event means any one of the following:
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LC Event means that the Letter of Credit shall not have been renewed or extended for at least an additional one year period (and such renewal or extension received by Administrative Agent) no later than 30 days prior to the then current expiry date thereof unless the following documents have been delivered to Administrative Agent: (i) the CWEI Guaranty, and (ii) a Secretary’s Certificate certifying the signature and incumbency of the Person signing the CWEI Guaranty and the authorizing resolutions therefor.
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Related to LC Event

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • OFAC Event means the event specified in Section 8.13(c) hereof.

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

  • Public event means any event that can be attended by the

  • Specified Event has the meaning given to such term in the definition of “Consolidated EBITDA.”

  • Book-Up Event means an event that triggers a positive adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Private event means a social gathering or event attended

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Lender Insolvency Event means that (i) a Lender or its Parent Company is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Extraordinary Event means any event, circumstance or cause which Royal Bank determines has or will have a material adverse effect on the ability of Royal Bank to perform its obligations under the Notes or to hedge its position in respect of its obligation to make payment of amounts owing thereunder, including as a result of any of Royal Bank’s internal policies, and more specifically includes a Market Disruption Event in respect of any Share or Hedging Event.

  • Eurodollar Disruption Event The occurrence of any of the following: (a) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that it would be contrary to law or to the directive of any central bank or other governmental authority (whether or not having the force of law) to obtain Dollars in the London interbank market to fund any Advance, (b) any Liquidity Bank shall have notified the Administrative Agent of the inability, for any reason, of such Liquidity Bank or any of its assignees or participants to determine the Adjusted Eurodollar Rate, (c) any Liquidity Bank shall have notified the Administrative Agent of a determination by such Liquidity Bank or any of its assignees or participants that the rate at which deposits of Dollars are being offered to such Liquidity Bank or any of its assignees or participants in the London interbank market does not accurately reflect the cost to such Liquidity Bank, such assignee or such participant of making, funding or maintaining any Advance, (d) any Liquidity Bank shall have notified the Administrative Agent of the inability of such Liquidity Bank or any of its assignees or participants to obtain Dollars in the London interbank market to make, fund or maintain any Advance or (e) any Liquidity Bank shall have notified the Administrative Agent that the principal amount of Advances to be funded by it is less than $500,000.

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • DC Credit Event Announcement means, with respect to the Reference Entity, a public announcement by the DC Secretary that the relevant Credit Derivatives Determinations Committee has Resolved that an event that constitutes a Credit Event has occurred on or after the Credit Event Backstop Date and on or prior to the Extension Date, provided that if the Credit Event occurred after the Scheduled Maturity Date, the DC Credit Event Announcement must relate to the relevant Potential Failure to Pay, in the case of a Grace Period Extension Date, or the relevant Potential Repudiation/Moratorium, in the case of a Repudiation/Moratorium Evaluation Date.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(ii) of the Agreement.

  • Mandatory Prepayment Event has the meaning specified in Section 2.03(b)(i).

  • LC means Letter of Credit

  • Delay Event means any event set out at Clause 5.19.4 [Delay Events].

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Reduction Event means any of the following:

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Lender Default means (a) the refusal or failure (which has not been cured) of a Lender to make available its portion of any Borrowing or to fund its portion of any Unpaid Drawing under Section 3.4 that it is required to make hereunder, (b) a Lender having notified the Administrative Agent and/or the Borrower that it does not intend to comply with its funding obligations under this Agreement or has made a public statement to that effect with respect to its funding obligations under this Agreement, (c) a Lender has failed to confirm (within one Business Day after a request for such confirmation is received by such Lender) in a manner reasonably satisfactory to the Administrative Agent, the Borrower and, in the case of a Revolving Credit Lender, each Revolving Letter of Credit Issuer that it will comply with its funding obligations under this Agreement, (d) a Lender being deemed insolvent or becoming the subject of a bankruptcy or insolvency proceeding or has admitted in writing that it is insolvent; provided that a Lender Default shall not be deemed to have occurred solely by virtue of the ownership or acquisition of any Stock in the applicable Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide the applicable Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit the applicable Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with the applicable Lender, or (e) a Lender that has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.