Lender Letter of Credit definition

Lender Letter of Credit means a Letter of Credit issued by an LC Issuer that is also, at the time of issuance of such Letter of Credit, a Lender.
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Lender Letter of Credit has the meaning assigned to that term in subsection 2.1(F).
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Lender Letter of Credit means a Letter of Credit issued by an L/C Issuer that is also, at the time of issuance of such Letter of Credit, a Lender.
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Examples of Lender Letter of Credit in a sentence

  • The expiration date of each Lender Letter of Credit shall be on a date which is at least thirty (30) days prior to the Termination Date.

  • Each Lender shall be deemed to have purchased a participation in each Lender Letter of Credit issued on behalf of Borrower in an amount equal to its Pro Rata Share thereof.

  • In no event shall any Lender Letter of Credit be issued to the extent that the issuance of such Lender Letter of Credit would cause the sum of the Letter of Credit Reserve (after giving effect to such issuance) plus the Revolving Loan to exceed the lesser of (x) the Borrowing Base and (y) the Revolving Loan Commitment.

  • No event shall have occurred and be continuing or would result from the consummation of the requested borrowing or notice requesting issuance of a Lender Letter of Credit that would constitute an Event of Default or a Default.

  • Borrower shall give Agent at least three (3) Business Days prior notice specifying the date a Lender Letter of Credit is to be issued, identifying the beneficiary and describing the nature of the transactions proposed to be supported thereby.


More Definitions of Lender Letter of Credit

Lender Letter of Credit has the meaning assigned to that term in subsection 2.1(G). -----------------
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Lender Letter of Credit has the meaning assigned to that term in subsection 2.1(E), and shall include each Lender Letter of Credit issued under the Existing Loan Agreement and outstanding on the Closing Date.
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Lender Letter of Credit means a letter of credit issued by Agent or any Lender under the terms of subsection 2.1(D) of this Agreement.
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Lender Letter of Credit means any letter of credit issued for the account of any Borrower by any Person that is a Lender at the time such letter of credit is issued pursuant to a separate agreement between such Borrower, or the Company on its behalf, and such Lender; provided that the Company shall have designated such letter of credit as a Lender Letter of Credit by written notice to the Administrative Agent on or prior to the time of the issuance of such letter of credit.
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Lender Letter of Credit means a Letter of Credit issued by an LC Issuer that is also, at the time of issuance of such Letter of Credit, a Lender. “Letter of Credit” means a standby letter of credit issued for the account of any Borrower by an LC Issuer which expires by its terms within oneyear after the date of issuance and in any event at least thirty (30) days prior to the Commitment Expiry Date. Notwithstanding the foregoing, a Letter ofCredit may provide for automatic extensions of its expiry date for one or more successive one (1) year periods, provided, however, that the LC Issuer that issued such Letter of Credit has the right to terminate such Letter of Credit on each such annual expiration date and no renewal term may extend the term of the Letter of Credit to a date that is later than the thirtieth (30th) day prior to the Commitment Expiry Date. Each Letter of Credit shall be either a Lender Letter of Credit or a Supported Letter of Credit.Midcap / Aterian / Credit Agreement DC - 036639/000052 - 10453208
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Lender Letter of Credit means (i) anyone or more letters of credit issued (or deemed to have been issued in accordance with clause (ii) of the definition of "Lender LC Documents") for the account of any Borrower by anyone or more Persons that is a Lender at the time such letter of credit is issued (or deemed to have been issued in accordance with clause (ii) of the definition of "Lender LC Documents") pursuant to a separate Lender LC Document between or among such Borrower, or the Company on its behalf, and such Lender or Lenders, including any such Lender LC Document providing for a letter of credit facility with more than one of the Lenders; provided that the Company or such Borrower shall have designated such letter of credit as a Lender Letter of Credit by written notice to the Administrative Agent on or prior to the time of the issuance (or such deemed issuance in accordance with clause (ii) of the definition of "Lender LC Documents") of such letter of credit, or (ii) any Letter of Credit which has become a Lender Letter of Credit in accordance with Section 2.05(k) hereof. The notice referred to in the proviso to clause (i) of this definition may (but is not required to) be contained in the written notification referred to in the second sentence of the definition of "Lender LC Documents".
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Lender Letter of Credit shall have the meaning given to such term in subsection 2.1(C).
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