LC Indebtedness definition

LC Indebtedness means Indebtedness consisting of the available amount of letters of credit with respect to the Initial Power Hedging Documents, any Replacement IPH Document or any other Permitted Power Document for the sale of power, capacity and/or renewable energy credits, (a) prior to the Subsequent Closing Date, in an aggregate amount of up to $30,000,000 with respect to the Cohocton Project (including the Cohocton Companies) and the Stetson I Project (including the Stetson Companies), (b) on and after the Subsequent Closing Date until the Stetson II Effective Date, in an aggregate amount of up to $40,000,000 with respect to the Cohocton Project (including the Cohocton Companies), the Stetson I Project (including the Stetson Companies) and the Steel Winds Project (including the Steel Winds Companies) and (c) on and after the Stetson II Effective Date, in an aggregate amount of up to $45,000,000 with respect to the Cohocton Project (including the Cohocton Companies), the Stetson I Project and Stetson II Project (including the Stetson Companies) and the Steel Winds Project (including the Steel Winds Companies).
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LC Indebtedness means the aggregate amount of all unreimbursed obligations on Letters of Credit which have been drawn and honored.
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LC Indebtedness means the liability of the Company to pay to the Bank (a) the sums due to the Bank pursuant to Article 2 hereof, together with the contingent liability of the Company with respect to reimbursement of draws on the Letter of Credit, and any and all other advances made pursuant to this Agreement and all other payment obligations of the Company hereunder, (b) all liabilities and obligations of the Company to the Bank under the other Loan Documents, and (c) any and all reasonable expenses and out-of-pocket costs incurred by the Bank in connection with the enforcement of this Agreement or any other Loan Document or the protection of the Bank's rights hereunder or thereunder;
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Examples of LC Indebtedness in a sentence

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  • The covenants contained in this Agreement shall survive (a) the repayment of the LC Indebtedness, (b) any foreclosure, whether judicial or nonjudicial, of the Real Property, and (c) any delivery of a deed in lieu of foreclosure to the Bank or any successor of the Bank.

  • Notwithstanding any other provision hereof, the availability of credit under the Credit Facility shall be temporarily reduced from time to time by the amount of the Permitted Temporary L/C Indebtedness from time to time except to the extent that an extension of credit is by way of a Letter to be used to replace a Temporary Letter.

  • As of the date of this Agreement, the aggregate outstanding balance (principal plus interest) of the Note Indebtedness is Nine Million Four Hundred Fifty Thousand Dollars ($9,450,000), and the maximum financial exposure of Borrower to Subordinating Lender under Borrower's indemnify obligations to Subordinating Lender under the LC Indebtedness is One Million Dollars ($1,000,000).

  • Schedule 6.1(b) sets forth a true and complete list of all Indebtedness in excess of $250,000, L/C Indebtedness and Intercompany Indebtedness (excluding the Obligations) of the Borrower and its Subsidiaries as of the date hereof, in each case showing the aggregate principal amount thereof and the name of any Credit Party or a Subsidiary of a Credit Party which directly or indirectly guaranteed such Indebtedness, L/C Indebtedness or Intercompany Indebtedness.

  • Subject to the satisfaction of the conditions set forth in Section 5 below, notwithstanding any provision in the Credit Agreement or the other Loan Documents to the contrary, Administrative Agent and the Required Lenders hereby consent to the incurrence of the Additional L/C Indebtedness.

  • Make any optional payment or prepayment of, or purchase or redeem, any Indebtedness or L/C Indebtedness except with respect to (i) refinancings permitted by Section 6.1(b) and (ii) the loan from The Hongkong and Shanghai Banking Corporation Ltd.


More Definitions of LC Indebtedness

LC Indebtedness. The words "LC Indebtedness" mean the liability of the Company to pay to the Bank (a) the sums due to the Bank pursuant to Article 2 of that certain Letter of Credit and Reimbursement Agreement dated as of August 1, 1995, by and between the Company and the Bank (the "Reimbursement Agreement"), together with the contingent liability of the Company with respect to reimbursement of draws on the Letter of Credit, and any and all other advances made pursuant to this Agreement and all other payment obligations of the Company hereunder, (b) all liabilities and obligations of the Company to the Bank under the other Loan Documents (as defined in the Reimbursement Agreement), and (c) any and all reasonable expenses and out-of-pocket costs incurred by the Bank in connection with the enforcement of this Agreement or any other Loan Document or the protection of the Bank's rights hereunder or thereunder;
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Related to LC Indebtedness

  • First Lien Indebtedness means Consolidated Total Indebtedness that is secured by a Lien on the Collateral, except by a Lien that is junior to the Liens on the Collateral securing the First Lien Obligations.

  • Applicable Indebtedness has the meaning specified in the definition of “Weighted Average Life to Maturity.”

  • Balloon Indebtedness means Long-Term Indebtedness, 25% or more of the original principal amount of which becomes due (either by maturity or mandatory redemption) during any consecutive twelve-month period, if such principal amount becoming due is not required to be amortized below such percentage by mandatory redemption or prepayment prior to such twelve-month period.

  • Related Indebtedness means any and all indebtedness paid or payable by Borrower to Administrative Agent or any Lender pursuant to any Loan Document other than any Note.

  • Acquisition Indebtedness means any Indebtedness of the Loan Parties that has been issued for the purpose of financing, in part, the acquisition of an Acquired Entity or Business.

  • Second Lien Indebtedness means the Indebtedness of the Loan Parties owing to the Second Lien Agent and the Second Lien Lenders under the Second Lien Credit Agreement, which Indebtedness is on terms and conditions reasonably acceptable to the Collateral Agent.

  • Refinance Indebtedness has the meaning assigned to such term in Section 6.01(f).

  • Outstanding Indebtedness means the aggregate of the Loan and interest accrued and accruing thereon, the Master Swap Agreement Liabilities, the Expenses and all other sums of money from time to time owing by the Borrowers to the Mortgagee and/or any of the Secured Creditors, whether actually or contingently, present or future, under or pursuant to the Loan Agreement, the Master Swap Agreement, the Security Documents or any of them;

  • Refinanced Indebtedness shall have the meaning provided in the definition of the term “Permitted Refinancing Indebtedness”.

  • Credit Facility Indebtedness means any and all amounts, whether outstanding on the Issue Date or thereafter Incurred, payable under or in respect of any Credit Facility, including without limitation principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company or any Restricted Subsidiary whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees, other monetary obligations of any nature and all other amounts payable thereunder or in respect thereof.

  • Settlement Indebtedness means any payment or reimbursement obligation in respect of a Settlement Payment.

  • Designated Indebtedness has the meaning assigned to such term in the Guarantee and Security Agreement.

  • Company Indebtedness means all indebtedness of the Company (including without limitation, any loans, advances, letters of credit, bank overdrafts, capital lease obligations and all other indebtedness of any kind including interest, principal and fees).

  • Indebtedness means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP:

  • Credit Agreement Refinancing Indebtedness means (a) Permitted First Priority Refinancing Debt, (b) Permitted Junior Lien Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) Indebtedness incurred or Other Revolving Commitments obtained pursuant to a Refinancing Amendment, in each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part, existing Term Loans, outstanding Revolving Loans or (in the case of Other Revolving Commitments obtained pursuant to a Refinancing Amendment) Revolving Commitments, outstanding loans under any Incremental Revolving Facility or undrawn commitments under any Incremental Revolving Facility (“Refinanced Debt”); provided that (i) such extending, renewing, replacing or refinancing Indebtedness (including, if such Indebtedness includes any Other Revolving Commitments, the unused portion of such Other Revolving Commitments) is in an original aggregate principal amount not greater than the sum of the aggregate principal amount of the Refinanced Debt (and, in the case of Refinanced Debt consisting, in whole or in part, of unused commitments under any Incremental Revolving Facility or Other Revolving Commitments, the amount thereof) plus all accrued and unpaid interest and fees thereon and expenses incurred in connection with such extension, renewal, replacement or refinancing, (ii) such Indebtedness has a maturity that is equal to or later than and, except in the case of Other Revolving Commitments, a Weighted Average Life to Maturity equal to or greater than the Refinanced Debt, and (iii) such Refinanced Debt shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees and premiums (if any) in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained; provided that to the extent that such Refinanced Debt consists, in whole or in part, of commitments under any Incremental Revolving Facility or Other Revolving Commitments (or loans incurred pursuant to any Incremental Revolving Facility or Other Revolving Loans), such commitments shall be terminated, and all accrued fees in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained.

  • Public Indebtedness means any payment obligation, including any contingent liability, of any person arising from bonds, debentures, notes or other securities that (A) are, or were intended at the time of issuance to be, quoted, listed or traded on any securities exchange or other securities market (including, without limiting the generality of the foregoing, securities eligible for resale pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (or any successor law or regulation of similar effect)) and (B) have an original maturity of more than one year or are combined with a commitment so that the original maturity of one year or less may be extended at the option of Mexico to a period in excess of one year;

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.

  • Permitted Secured Indebtedness any Secured Indebtedness that:

  • Junior Lien Indebtedness means any Indebtedness of any Credit Party that is secured by Liens on Collateral that rank junior in priority to the Liens that secure the Obligations.

  • Secured Indebtedness means any Indebtedness secured by a Lien.

  • Pledged Indebtedness means the Indebtedness evidenced by promissory notes and instruments listed on Part B of Schedule I hereto;

  • Excluded Indebtedness means all Indebtedness not incurred in violation of Section 6.01.

  • Permitted Convertible Indebtedness means any unsecured Indebtedness issued under the Convertible Senior Notes, and any refinancings or replacements thereof that is unsecured Indebtedness issued by the Borrower and/or guaranteed by a Loan Party; provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing or replacement except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder, and (ii) any Indebtedness in connection with a refinancing or a replacement thereof shall (A) not mature or require any payment of principal thereof prior to the date that is 91 days past the Maturity Date and (B) have covenants that are not more restrictive (taken as a whole) than those set forth herein; provided, further, that the conversion of Permitted Convertible Indebtedness, including any requirement or decision to pay cash upon any conversion of Permitted Convertible Indebtedness in lieu of all or any portion of the Equity Interests of the Borrower due upon conversion of such Permitted Convertible Indebtedness, and the requirement of the Borrower to repurchase Permitted Convertible Indebtedness prior to its stated maturity date upon a fixed date or upon the occurrence of a fundamental change (which would include customary change of control provisions or a termination of trading of the Borrower’s common stock on the exchange on which it is then listed), shall not constitute a maturity or the requirement of any payment of principal of such Permitted Convertible Indebtedness prior to the date that is 91 days past the Maturity Date hereunder for purposes of this definition.

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Permitted Indebtedness means, without duplication, each of the following:

  • Unsecured Indebtedness means Indebtedness which is not Secured Indebtedness.