LC Facilities definition

LC Facilities means the Revolving Facility (in respect solely of the LGIA Letters of Credit), the TALC Facility and the DSR LC Facility.
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LC Facilities means (i) that certain 5-Year Letter of Credit Issuance and Reimbursement Agreement, dated as of May 23, 2005, among CIT, J.P. Morgan Securities Inc., as sole lead arranger and bookrunner, Barclays Bank PLC, as syndication agent, Bank of America, N.A. and Citibank, N.A., as documentation agents, JPMorgan Chase Bank, N.A., as administrative agent and as issuing bank, and the several banks and other financial institutions as lenders thereto (as in effect as of the Issue Date), and (ii) that certain letter of credit issuance and reimbursement agreement to be entered into among CIT, certain Subsidiaries of CIT and Bank of America, N.A. (or another issuing bank acceptable to CIT) and any documents entered into or otherwise related thereto (including any cash collateral agreement), in each case, as the same may be amended, amended and restated, supplemented or otherwise modified, replaced or refinanced from time to time.
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LC Facilities means (1) the JPM L/C Facility, (2) that certain $500,000,000 Letter of Credit Agreement, dated as of November 3, 2009, among the Company, certain Subsidiaries of the Company, Bank of America, N.A., as administrative agent and letter of credit issuer, the other lenders party thereto, and Banc of America Securities LLC, as sole lead arranger and sole bookrunner, and (3) any other facility related to the issuance of letters of credit, in each case above, together with any documents entered into or otherwise related thereto (including any cash collateral and control agreements), in each case above, as the same may be amended, amended and restated, supplemented or otherwise modified, replaced or refinanced from time to time.
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Examples of LC Facilities in a sentence

  • The Parent Borrower will not permit any of its Subsidiaries (other than (x) ACUS and (y) the Specified Subsidiary, if any, so long as the Subsidiary Guaranty is in effect) to create, incur, assume or permit to exist any Indebtedness, or agree, become or remain liable (contingent or otherwise) to do any of the foregoing, except for (i) the Obligations, (ii) Indebtedness under the Permitted L/C Facilities and (iii) Permitted Subsidiary Indebtedness.

  • The Bank has, at the request of the Borrower, agreed to open Letters of Credit in foreign currencies and / or in rupees in favour of the Suppliers for amounts to the maximum extent of the respective Limits specified in the Facility Agreement (the "LC Facilities", which expression shall, as the context may permit or require, mean any or each of such LC Facilities) from time to time.

  • The proceeds realised from sale of the Goods or transfer or any document of title, remaining after deducting therefrom the costs and expense of and incidental to such sale or transfer, shall be applied in or towards payment or satisfaction of the amount(s) due to the Bank in respect of any payment made by the Bank under the LC Facilities for the account of the Borrower, and interest thereon and all costs charges and expenses as hereinabove mentioned.

  • Provided, however, the total of LC Outstanding and Amounts Devolved under the LC Facilities shall not at any point of time exceed the amount of the respective Limits.

  • Notwithstanding anything to the contrary, the Letters of Credit under the Synthetic L/C Facilities shall only be issued by the Synthetic L/C Issuer.

  • The Lenders also acknowledge that the terms of the Bilateral LC Facilities may include provisions requiring the Obligors to cash-collateralize their obligations to the applicable Bilateral LC Lender in connection with the applicable Bilateral LC Facility following an Event of Default.

  • Indebtedness under the LC Facilities outstanding on the Issue Date shall initially be deemed to have been incurred on such date in reliance on the exception provided by Section 7.2(b)(xx).

  • If, upon the occurrence and during the continuation of an Event of Default, there are any letters of credit outstanding under one or more Outside LC Facilities, then, during such period, the Secured Cash Management Obligations arising thereunder shall, solely for purposes of Section 5.02 of the Collateral Agreement, be deemed to be the sum of the aggregate stated amount of all letters of credit then outstanding under the Outside LC Facilities.

  • The obligations of (i) the Lenders to extend such credit, (ii) the Hedge Banks to perform such obligations under the Secured Swap Agreements and (iii) the Bilateral LC Providers to provide the Secured Bilateral LC Facilities are conditioned upon, among other things, the execution and delivery of this Agreement.

  • The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders the L/C Loans (i) on any applicable date, an amount in accordance with Section 2.16(i)(vi) and (ii) on the applicable Maturity Date for the L/C Facilities of a given Class, the aggregate principal amount of all of its L/C Loans of such Class outstanding on such date.


More Definitions of LC Facilities

LC Facilities has the meaning specified in the Hydra Commitment Letters.
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LC Facilities means (1) that certain 5-Year Letter of Credit Issuance and Reimbursement Agreement, dated as of May 23, 2005, among Company, JPMorgan Chase Bank, N.A., as adminis- trative agent and as issuing bank, and certain other parties thereto (as in effect as of the Third Restatement Effective Date), (2) that certain $500,000,000 Letter of Credit Agreement, dated as of November 3, 2009, among Company, certain Subsidiaries of Company, Bank of America, N.A., as administrative agent and letter of credit issuer, the other lenders party thereto, and Banc of America Securities LLC, as sole lead arranger and sole bookrunner, and (3) any other facility related to the issuance of letters of credit, in each case above, together with any documents entered into or otherwise related thereto (including any cash collateral and control agreements), in the case of each of clauses (2) and (3), as the same may be amended, amended and restated, supplemented or otherwise modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced, in whole or in part, from time to time.
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LC Facilities means one or more letters of credit or debt facilities with banks or other institutional lenders providing for letters of credit, in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time. For the avoidance of doubt, LC Facilities may consist of a single LC Facility rather than a broadly syndicated letter of credit or debt facility.
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Related to LC Facilities

  • LC Facility and together with the Credit Facility, the “Debt Facilities”). Immediately following the consummation of the transactions contemplated hereby, the Company will be in compliance in all material respects with the covenants set forth in the Debt Facilities. Immediately following the repayment of any Consideration as required under Section 9.7(b)(iii)(D) of the Credit Facility, the Company will be able to redraw amounts equal to at least such Consideration.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Revolving Facilities means, collectively, the Canadian Revolving Facility and the U.S. Revolving Facility.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Bank Facilities means any overdraft limits or credit facility available to you and their associated terms;