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

  • 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.

  • Each L/C Event shall be deemed to constitute a representation and warranty by the Borrower on the date of such L/C Event as to the matters specified in this Section 4.02.

  • 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.

  • On the date hereof and on the date of any LC Event, Applicant makes to Citibank 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.

  • Figure 6: Bar chart of respondents RSES scores.Figure 7: Social comparison scale participants total score.

  • Shares issued under the Plan shall be subject to such rights of repurchase, rights of first refusal, other transfer restrictions and such other terms and conditions as the Board of Directors may determine.

  • Availability Block – as of any date of determination, the greater of (i) thirteen and one half percent (13.5%) multiplied by the Term Loan Borrowing Capacity (calculated without giving effect to the Availability Block or the Montrovest LC to the extent the Montrovest LC Event has not occurred), and (ii) $11,000,000.


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 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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LC Event shall have the meaning set forth in the Preamble hereto. “Obligations” shall have the meaning set forth in Section 8 hereto. 12 “Other Taxes” means any and all present or future stamp or documentary taxes or any other similar excise or property Taxes, arising from any payment made hereunder or from the execution, delivery or enforcement of this Agreement, including any interest, additions to tax or penalties applicable thereto. “Principal Obligations” means all Obligations to reimburse Citibank for Drafts paid by Citibank as a result of drawings under Credits issued hereunder. “Security Letter of Credit” means a letter of credit issued by Citicorp USA, Inc. naming Citibank as beneficiary to support the payment by the Applicant of the Obligations and otherwise in form and substance reasonably satisfactory to Citibank. “Security Letter of Credit Proceeds” shall have the meaning set forth in Section 15 hereto. “Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. “Termination Date” means the later to occur of (a) the termination of the Security Letter of Credit and (b) the date of the termination or expiry of all Credits and the payment in full (including, without limitation, by application of Security Letter of Credit Proceeds in accordance with this Agreement) of all Obligations that are or may become payable. “U.S.” means the United States of America. “UCP” shall have the meaning set forth in Section 24 hereto. 13 Very truly yours, Applicant: XLIT LTD. Company Name /s/ Xxxxx Xxxx By: Authorized Signer Xxxxx Xxxx Print Name Director Title Xxx Xxxxxxxxxx Xxxx, Xxxxxxxx XX 00 Bermuda Address November 4, 2013 Date Co-Applicant (if any): Company Name By: Authorized Signer Print Name Title Address Date 14 (For Citibank Use Only) Approvals to Issue /s/ Xxxxxxx X. Xxxxxx Relationship Manager (Signature & Stamp) Xxxxxxx Xxxxxx, VP Citibank, N.A. 000 Xxxxxxxxx Xx., 00xx Xxxxx Xxx Xxxx, XX 00000 (212) 816-7645 Other required Signature & Stamp 15 Schedule I to Continuing Agreement For Standby Letters of Credit Credit Fees All fees listed below shall be payable in advance. Issuance of a Credit: $500 Amendment of a Credit: $150
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LC Event means any one of the following:
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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 any 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 the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • 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 a Merger Event, Tender Offer, Nationalisation, Insolvency or Delisting, as the case may be.

  • 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.

  • 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.

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

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • 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)(iii) of this Agreement.

  • Mandatory Prepayment Event means any of the following:

  • LC means Letter of Credit

  • Delay Event means: (i) a tsunami, flood, cyclone, earthquake, bushfire or other act of nature; (ii) riot, civil commotion, war, invasion or a terrorist act; (iii) an imminent threat of an event in paragraphs (i) or (ii); or (iv) compliance with any lawful direction or order by a Government Agency;

  • 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).