LC Issuer Commitment means, with respect to each LC Issuer, unless such LC Issuer agrees to a higher amount in its sole discretion, $20,000,000.
LC Issuer Commitment means (a) with respect to each LC Issuer as of the Closing Date (the “Initial LC Issuers”), $50,000,000, or such other amount as shall be agreed after the Closing Date in writing by such LC Issuer and the Borrower (with prompt notice to the Administrative Agent); provided that if Mizuho Bank, Ltd. or an Affiliate thereof (“Mizuho LC Issuer”) becomes an LC Issuer after the Closing Date, the LC Issuer Commitment of each Initial LC Issuer shall be automatically reduced on a pro rata basis by the amount of Mizuho LC Issuer’s LC Issuer Commitment without further act of the Administrative Agent or any Initial LC Issuer, and (b) with respect to any Lender which agrees to be a LC Issuer after the Closing Date, the aggregate face amount of Letters of Credit that such LC Issuer has agreed in writing to issue pursuant to a written agreement between such LC Issuer and the Borrower (with prompt notice thereof to the Administrative Agent).
LC Issuer Commitment means, with respect to each LC Issuer, the commitment of such LC Issuer to issue Facility LCs hereunder. The initial amount of each LC Issuer’s LC Issuer Commitment is set forth on the LC Issuer Commitment Schedule, or if an LC Issuer has entered into an Assignment Agreement or has otherwise assumed an LC Issuer Commitment after the Closing Date, the amount set forth for such LC Issuer as its LC Issuer Commitment in the Register maintained by the Administrative Agent. The LC Issuer Commitment of an LC Issuer may be modified from time to time by agreement between such LC Issuer and the Borrower, and notified to the Administrative Agent.
Examples of LC Issuer Commitment in a sentence
The initial Dollar amount of each LC Issuer’s LC Issuer Commitment on the Closing Date is as set forth under the caption “LC Issuer Commitments” on Schedule 2.
The Stated Amount of the Letters of Credit shall not exceed the Closing Date Total LC Issuer Commitment, as such amount may be reduced by the Borrower pursuant to Section 2.6.3(b) (such amount, as it may be reduced from time to time, the “Total LC Issuer Commitment”).
The initial Dollar amount of each L/C Issuer’s L/C Issuer Commitment on the Closing Date is as set forth under the caption “L/C Issuer Commitments” on Schedule 1.01A.
The Stated Amount of existing Letters of Credit shall not exceed at any time the Total LC Commitment or the Total LC Issuer Commitment.
BANK OF AMERICA, N.A., as a Lender and as L/C Issuer Commitment: $49,000,000 By: /s/ LISA M.
More Definitions of LC Issuer Commitment
LC Issuer Commitment at any time with respect to each LC Issuer, such Person’s commitment to issue one or more Letters of Credit, as such commitment may be (a) reduced from time to time pursuant to Section 2.6.3 and (b) reduced or increased from time to time pursuant to Section 2.2.12.
LC Issuer Commitment means (a) with respect to each of Bank of America, JPMorgan Chase Bank, N.A. Mizuho Bank, Ltd., Royal Bank of Canada, Truist Bank, U.S. Bank National Association and Wells Fargo Bank, National Association, $5,000,000, or, with respect to any such L/C Issuer(x) such greater amount (not to exceed, when added to the L/C Issuer Commitments of all other L/C Issuers, the Letter of Credit Sublimit) as shall be agreed from time to time in writing by the Borrower, such L/C Issuer and the Administrative Agent or (y) such lesser amount as shall be agreed from time to time in writing by the Borrower, all L/C Issuers and the Administrative Agent, and (b) with respect to any Lender which agrees to be a L/C Issuer after the Closing Date, the amount (not to exceed, when added to the L/C Issuer Commitments of all other L/C Issuers, the Letter of Credit Sublimit) agreed in writing from time to time by such L/C Issuer, the Borrower and the Administrative Agent.
LC Issuer Commitment means (a) with respect to each Initial L/C Issuer, the aggregate amount set forth opposite such L/C Issuer’s name on Schedule 2.01(B), or, with respect to any such L/C Issuer (x) such greater amount as shall be agreed from time to time in writing by the Borrower and such L/C Issuer (with prompt notice to the Administrative Agent) or (y) such lesser amount as shall be agreed from time to time in writing by the Borrower, all L/C Issuers and the Administrative Agent, and (b) with respect to any Lender which agrees to be an L/C Issuer after the Closing Date, the amount agreed in writing from time to time by such L/C Issuer, the Borrower and the Administrative Agent.
LC Issuer Commitment means, with respect to each LC Issuer, unless such LC Issuer agrees to a higher amount in its sole discretion,$20,000,000.
LC Issuer Commitment means, at any time with respect to each LC Issuer, such LC Issuer’s Proportionate Share of the Total LC Issuer Commitment at such time.
LC Issuer Commitment means (a) with respect to each LC Issuer as of the Closing Date, $50,000,000, or such other amount as shall be agreed after the Closing Date in writing by such LC Issuer and the Borrower (with prompt notice to the Administrative Agent), and (b) with respect to any Lender which agrees to be a LC Issuer after the Closing Date, the aggregate face amount of Letters of Credit that such LC Issuer has agreed in writing to issue pursuant to a written agreement between such LC Issuer and the Borrower (with prompt notice thereof to the Administrative Agent).
LC Issuer Commitment means (a) with respect to Bank of America, an amount equal to $200,000,000, or such other amount (not to exceed, when added to the L/C Issuer Commitments of all other L/C Issuers, the Letter of Credit Sublimit) as shall be agreed in writing from time to time by Bank of America and the Borrower (with prompt notice to the Administrative Agent), (b) with respect to Wells Fargo Bank, N.A., an amount equal to $50,000,000, or such other amount (not to exceed, when added to the L/C Issuer Commitments of all other L/C Issuers, the Letter of Credit Sublimit) as shall be agreed in writing from time to time by Wells Fargo Bank, N.A. and the Borrower (with prompt notice to the Administrative Agent), and (C) with respect to any Lender which agrees to be an L/C Issuer after the Closing Date, the amount (not to exceed, when added to the L/C Issuer Commitments of all other L/C Issuers, the Letter of Credit Sublimit) agreed in writing from time to time by such L/C Issuer, the Borrower and the Administrative Agent; provided that to the extent that any increase in any existing L/C Issuer Commitment, or the addition of any new L/C Issuer Commitment, would cause the sum of all L/C Issuer Commitments to exceed the Letter of Credit Sublimit (any such excess is herein referred to as the “L/C Commitment Excess”), all of the unused L/C Issuer Commitments (other than the L/C Issuer Commitment that has caused such L/C Commitment Excess) shall be reduced in an amount equal to such L/C Commitment Excess on a pro rata basis (or on such other basis as may be agreed by the Borrower, each L/C Issuer and the Administrative Agent) with the effect that after all such reductions the sum of the L/C Issuer Commitments of all L/C Issuers shall not exceed the Letter of Credit Sublimit.