LC Loan definition

LC Loan means a loan by a Senior Lender to the Borrower deemed made pursuant to Section 3.03(c) and 3.03(f) (Reimbursement to Senior Issuing Banks) in connection with a draw upon any Letter of Credit.

LC Loan means a loan by a Working Capital Lender to the Borrower deemed made pursuant to Section 3.02(c) and Section 3.02(f) (Reimbursement to Issuing Banks).

LC Loan shall have the meaning set forth in Section 2.02(c)(ii) of the Agreement.

Examples of LC Loan in a sentence

• All such payments by the Working Capital Lenders in respect of any one such payment by such Issuing Bank shall constitute a single LC Loan hereunder.

• The Borrower unconditionally and irrevocably promises to pay to the Credit Facility Agent for the ratable account of each Working Capital Lender the aggregate outstanding principal amount of each LC Loan no later than 5:00 p.m. on the Working Capital Loan Termination Date.

• Each payment made by an Issuing Bank in respect of a Non-Fronted Letter of Credit that is not reimbursed by the Borrower or that is converted into an LC Loan by notice from the Borrower pursuant to clause (c) above shall constitute an LC Loan deemed made by such Issuing Bank in its capacity as a Working Capital Lender.

• If such LC Loan relates to a Fronted Letter of Credit, the Credit Facility Agent shall promptly notify each of the Working Capital Lenders of the amount of its share of the payment made under such Fronted Letter of Credit, which shall be such Working Capital Lender’s Commitment Percentage of such amount paid by such Issuing Bank (the “Working Capital Lender Payment Notice”).

• In the case of any Non-Fronted Letters of Credit issued with respect to a specific Non-Fronted LC Amount, the Borrower may not elect to make an LC Reimbursement Payment and/or convert a reimbursement obligation into a LC Loan for some but not all the Issuing Banks providing Non-Fronted Letters of Credit with respect to such Non-Fronted LC Amount.

More Definitions of LC Loan

LC Loan has the meaning given in Section 2.2.3.

LC Loan means each and any O&M Reserve LC Loan, Debt Service Reserve LC Loan, Hedge LC Loan and Working Capital LC Loan.

LC Loan has the meaning set forth in Section 3.25(f).

LC Loan means an loan made by the Revolving Lenders to the Borrower in respect of unreimbursed LC Disbursements in accordance with the terms of Section 2.06(e).

LC Loan means the “Revolving LC Loan” under the CD Credit Agreement or the meaning given to such term in any Senior Secured Debt Instrument governing Working Capital Debt entered into from time to time.

LC Loan means “LC Loans” (or similar term) as defined in the Credit Facilities Agreement or any Replacement Credit Facilities Agreement, as applicable.

LC Loan means, as of any date, each Reimbursement Obligation that remains unpaid by the Company, in whole or in part, as of such date.