LC Loan definition

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

Examples of LC Loan in a sentence

• In such event, each Lender’s payment to the Administrative Agent for the account of the applicable Issuing Bank pursuant to Section 2.13(c)(ii) shall be deemed payment in respect of its participation in such L/C Advance and shall constitute an L/C Loan from such Lender in satisfaction of its participation obligation under this Section 2.13.

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

• 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.

• 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.

• Each notice of optional prepayment shall indicate whether the Loan being prepaid (i) was used for Gas Working Capital Purposes, General Working Capital Purposes or DSR Purposes and (ii) was a Working Capital Loan, Swing Line Loan or an LC Loan.

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 has the meaning set forth in Section 3.03(b) of the Credit Agreement.

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.

LC Loan shall have the meaning assigned to such term in the Reimbursement Agreement or any Replacement LC Facility Agreement, as applicable.

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.