LC Lender definition

LC Lender means a Lender with a LC Commitment, which as of the Closing Date is as set forth on Schedule 2.01.

LC Lender means, at any time, any Person that has a Letter of Credit Commitment or outstanding Letter of Credit Exposure at such time. As of the Closing Date, the LC Lenders are those Persons listed on Annex I as having a Letter of Credit Commitment.

LC Lender means each Lender participating in a Letter of Credit, unless otherwise agreed.

Examples of LC Lender in a sentence

• If such payment is not reimbursed by the Borrower as set forth above, the Issuing Bank shall give notice of such failure to pay to the Administrative Agent and the LC Lenders, and each LC Lender shall promptly reimburse the Issuing Bank for such LC Xxxxxx’s Pro Rata Share of such payment.

• Upon the date of the issuance or increase of a Letter of Credit occurring on or after the Closing Date, the Issuing Bank shall be deemed to have sold to each other LC Lender and each other LC Lender shall have been deemed to have purchased from the Issuing Bank a participation in the related Letter of Credit Obligations equal to such LC Lender’s Pro Rata Share of the maximum amount which is or at any time may become available to be drawn thereunder.

• Each LC Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or an Event of Default, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.

• The Borrower agrees to pay to the Administrative Agent for the pro rata benefit of each LC Lender a commitment fee (a “Commitment Fee”) equal to the product of 0.50% per annum and the average daily amount of the Unused LC Commitments during the Commitment Period.

• In consideration and in furtherance of the foregoing, each LC Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such LC Lender’s Pro Rata Share of each payment or disbursement made by the Issuing Bank under a Letter of Credit and not reimbursed by the applicable Loan Party (or, if applicable, another party pursuant to its obligations under any other Loan Document) forthwith on the date due as provided in Section 2.13(c).

More Definitions of LC Lender

LC Lender means any Lender that has an LC Commitment or which, at --------- the date of determination, has purchased (pursuant to Section 3.05) a participation in a Letter of Credit.

LC Lender means CIBC and EDC to the extent that EDC has acceded to the obligations, rights and benefits of the LC Lender pursuant to the operation of Section 5.03.

LC Lender means a Revolving Lender or a Tranche A LC Lender.

LC Lender means a Lender with a LC Commitment, which as of the date hereof is as set forth on Schedule 2.01.

LC Lender means each Senior Lender, unless otherwise agreed.

LC Lender means any one of the LC Lenders.

LC Lender means CIBC and EDC to the extent that EDC has acceded to the obligations, rights and benefits of the LC Lender pursuant to the operation of Sec tion 5.03. “ L/C Fronting Exposure ” has the meaning set forth in Sec tion 13.16(2). “ LDC Agreements ” means Collection Service Agreements and Transportation Agreements and the Electricity Service Agreements listed on Schedule G hereto as such agreements are in effect on the date hereof and as from time to time supplemented, amended restated or replaced from time to time and any such agreement entered into with LDCs after the date hereof, whether or not scheduled. “LDCs” means (i) local distribution companies to whom volumes of natural gas are delivered by an Obligor and with whom such Obligor has Transportation Agreements and Collection Service Agreements and (ii) local electricity distribution companies, which deliver electricity to Customers for and on behalf of an Obligor and with whom such Obligor has an Electricity Service Agreement. “ Lease Obligations ” means, as to any Person, the obligations of such Person to pay rent or other amounts under a lease of (or other agreement conveying the right to use) any Right of Use Asset which obligations are required to be recorded on a balance sheet of such Person in accordance with IFRS 16. For the purposes of this Agreement, including all calculations of any Lease Obligations to be made hereunder, any lease which would be accounted for as an operating lease under the International Financial Reporting Standards as in effect on December 31, 2018 shall be, notwithstanding any subsequent change in the International Financial Reporting Standards, deemed to be accounted for as an operating lease under such prior IFRS rules (regardless of whether such lease is entered into or assumed before or after December 31, 2018) and the obligations thereunder shall not be Lease Obligations for the purpose of this Agreement.