LC Extension definition

LC Extension shall have the meaning assigned to such term in Section 2.18(c).
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LC Extension as defined in Section 2.1(d)(iii).
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LC 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.
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Examples of LC Extension in a sentence

  • Notwithstanding anything to the contrary in this paragraph 3(a), if (i) BIO-key is able to reduce the amount outstanding under the Xxxxxxxx XX by at least fifty-percent (50%) as of September 30, 2006 and (ii) BIO-key has timely made all payments required under the Note and the Sublease in accordance with the terms of such agreements, the initial LC Extension Fee shall be equal to 1% of the amount of the Xxxxxxxx XX (the “Reduced LC Extension Fee”).

  • Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Extension of Credit so requested complies with the conditions set forth in the proviso to the preceding sentence.

  • If BIO-key qualifies for the Reduced LC Extension Fee and if Aether should decide to extend the Xxxxxxxx XX for more than six months (either in a single extension or as a result of multiple extensions), BIO-key will be required to pay the full LC Extension Fee on each six-month anniversary of such extension period following December 31, 2006.

  • Any LC Extension Notice must be served not less than three Business Days before the Maturity Date of that Letter of Credit.

  • At least five Domestic Business Days before any Letter of Credit is 41 48 to be extended pursuant to this Section, the relevant Borrower shall give notice (a "Notice of LC Extension") to the Administrative Agent and the relevant Issuing Bank identifying such Letter of Credit and requesting the extension of the expiry date thereof to a specified date complying with clauses (B) and (C) of subsection (a)(iii) above.

  • Notwithstanding anything to the contrary in this paragraph 3(a), if (i) BIO-key is able to reduce the amount outstanding under the Hxxxxxxx XX by at least fifty-percent (50%) as of September 30, 2006 and (ii) BlO-key has timely made all payments required under the Note and the Sublease in accordance with the terms of such agreements, the initial LC Extension Fee shall be equal to 1% of the amount of the Hxxxxxxx XX (the “Reduced LC Extension Fee ”).

  • If BlO-key qualifies for the Reduced LC Extension Fee and if Aether should decide to extend the Hxxxxxxx XX for more than six months (either in a single extension or as a result of multiple extensions), BlO-key will be required to pay the full LC Extension Fee on each six-month anniversary of such extension period following December 31, 2006.

  • Said Annex I has been blacklined to show all changes from the Credit Agreement as it was in effect following the Amendment No. 2 Effective Date, the 2011 Revolving Credit Commitment Extension Effective Date and the 2011 Term/Deposit L/C Extension Effective Date.

  • The Cash Flow Differential Letter of Credit shall be for a term of not less than eighteen (18) months, provided that on the date that is the first anniversary of the date hereof (the "LC Extension Date"), the amount of the Cash Flow Differential Letter of Credit shall be increased by an amount equal to the Principal Shortfall Interest Stated Amount.

  • The Administrative Agent shall, upon receipt of each such Notice of LC Issuance or Notice of LC Extension, promptly notify each Bank of the contents thereof and of the amount of such Bank's ratable participation in such Letter of Credit, and such Notice of LC Issuance or Notice of LC Extension shall not thereafter be revocable by the relevant Borrower.


More Definitions of LC Extension

LC Extension shall have the meaning assigned to such term in Section 2.18(c). “LC Obligations” shall mean, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit at such time (including, without limitation, any and all Letters of Credit for which documents have been presented that 31 US-DOCS\121951479.16133960081.2
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LC Extension shall have the meaning assigned to such term in Section 2.18(c). “LC Obligations” shall mean, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit at such time (including, without limitation, any and all Letters of Credit for which documents have been presented that have not been honored or dishonored) plus the aggregate amount of all outstanding Reimbursement Obligations at such time. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.12. The amount of such LC Obligations shall equal the maximum amount that may be payable by the Administrative Agent and the Lenders thereupon or pursuant thereto. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. “LC Participation Fee” shall have the meaning assigned to such term in Section 2.05(c). “LC Request” shall mean an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the Issuing Bank in accordance with the terms of Section 2.18(b) and substantially in the form of Exhibit F. “LC Sublimit” shall mean $10,000,0000. 31 US-DOCS\133960081.2
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Related to LC Extension

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • 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.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Line Extension means the provision of facilities (including, but not limited to, poles, fixtures, wires, and appurtenances) necessary for delivering electrical energy from the point of origin to one or more of the customer's points of delivery. Facilities provided by the Company to maintain, protect, upgrade, or improve its overall distribution system (even if necessary due to a customer's load addition) are not considered part of a line extension.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Credit Extension Date means the Borrowing Date for an Advance or the issuance date for a Facility LC.

  • Non-Extending Lender has the meaning specified in Section 2.18(b).

  • Extension has the meaning specified in Section 2.18(a).

  • 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.

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Maturity Date Extension Request means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender (or a participation therein by a Lender) or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Extension Term means the time period defined in §2.C.

  • Grace Period Extension Date means, if:

  • 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).