LC Limit definition

LC Limit means $50,000,000. References to the unused portion of the LC Limit shall mean, at any time of determination, an amount equal to (x) the LC Limit at such time, minus (y) the LC Participation Amount.

LC Limit means $75,000,000; provided, that such amount may be increased to an amount up to the Facility Limit upon the written consent of the Administrative Agent, each LC Bank and each Group Agent (each in its sole discretion) following any request therefor by the Servicer not less than five (5) Business Days prior to the proposed increase date. References to the unused portion of the LC Limit shall mean, at any time of determination, an amount equal to (x) the LC Limit at such time, minus (y) the LC Participation Amount.

LC Limit means, with respect to each LC Bank, the amount set forth as such LC Bank’s LC Limit in Schedule A hereto.

Examples of LC Limit in a sentence

• In connection with any partial reduction in the Facility Limit, the Commitment of each Lender and LC Participant, as well as the LC Limit, shall be ratably reduced.

• If at any time (1) the Total Revolving Credit Exposure of any Lender exceeds its Revolving Credit Commitment at such time, the Borrower shall prepay Revolving Credit Loans and/or Cash Collateralize Letter of Credit Obligations to eliminate such excess; or (2) the Letter of Credit Obligations exceeds the Aggregate L/C Limit at such time, the Borrower shall Cash Collateralize Letter of Credit Obligations to eliminate such excess.

• In connection with any partial reduction in the Facility Limit, the Commitment of each Committed Purchaser and LC Participant, as well as the LC Limit, shall be ratably reduced.

• Margin Money Deposit 9.1 Margin Money Deposits given as under:Margin Money Deposits with a carrying amount of Rs. 220414/- (31 March 2019 : Rs. 2,20,414/-) are subject to first charge to secure the company's LC Limit.

• The Total Issuance Cap Increase shall constitute a part of the Issuance Cap as defined in the ULCA for all purposes of the Loan Documents having terms and provisions identical to those applicable to the Issuance Cap existing immediately prior to the Total LC Limit Increase Effective Date.

More Definitions of LC Limit

LC Limit means £100,000,000 (or its equivalent in Optional Currencies);

LC Limit. $35,000,000. References to the unused portion of the LC Limit shall mean, at any time of determination, an amount equal to (x) the LC Limit at such time, minus (y) the LC Participation Amount.

LC Limit means $250,000,000.

LC Limit means, with respect to any Issuing Bank at any time, an amount equal to the quotient of $50,000,000 divided by the total number of Issuing Banks at such time.

LC Limit means, with respect to any Issuing Bank at any time, an amount equal to fifty percent (50%) of its Commitment (or the Commitment of the Lender that is the Affiliate of such Issuing Bank) at such time, or such higher or lower amount as may be agreed by such Issuing Bank at the request of the Borrower. Such Issuing Bank shall notify the Administrative Agent of any such change in such Issuing Bank’s L/C Limit.

LC Limit means (a) at all times prior to the Redemption Date, the amount equal to: (i) $10,000,000 minus (ii) the aggregate amount of the indebtedness of Borrower and its Subsidiaries outstanding at such time in respect of surety bonds, reimbursement obligations in respect of standby letters of credit which are issued for purposes similar to those for which surety bonds are issued and appeal bonds required in the ordinary course of business or in connection with the enforcement of rights or claims of Borrower or any Subsidiary of Borrower (but not including any such reimbursement obligations arising in connection with the Letter of Credit Accommodations) and (b) at all times on and after the Redemption Date, the amount equal to $10,000,000.

LC Limit has the meaning set forth in Section 5.1.