Letter of Credit Advances definition

Letter of Credit Advances means all amounts owing to Bank under any Letter of Credit Agreement, including, without limitation, all drafts paid by Bank under any Letter of Credit and with respect to which and to the extent that Bank has not been reimbursed.

Letter of Credit Advances or the “Swing Line Advances”) by the Lender to or for the benefit of the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance, Letter of Credit Advance and Swing Line Advance being evidenced by this Promissory Note, and (b) contains provisions for acceleration of the maturity hereof upon the happening of an Event of Default and also for prepayments on account of principal hereof prior to the Termination Date upon the terms and conditions therein specified.

Letter of Credit Advances or the “Swing Line Advances”) by the Lender to or for the benefit of the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the U.S. dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Revolving Credit Advance, Letter of Credit Advance and Swing Line Advance being evidenced by this Revolving Note, and (b) contains provisions for acceleration of the maturity hereof upon the happening of an Event of Default and also for prepayments on account of principal hereof prior to the Termination Date upon the terms and conditions therein specified. This Revolving Note shall be governed by, and construed in accordance with, the law of the State of New York. a Delaware limited partnership By: SUMMIT HOTEL GP, LLC, a Delaware limited liability company, its general partner By: SUMMIT HOTEL PROPERTIES, INC., a Maryland corporation, its sole member By: Name: Title: $__________ Dated:_______ __, ____ FOR VALUE RECEIVED, the undersigned, SUMMIT HOTEL OP, LP, a Delaware limited partnership (the “Borrower”), HEREBY PROMISES TO PAY____________________ (the “Lender”) for the account of its Applicable Lending Office (as defined in the Credit Agreement referred to below) the aggregate principal amount of the Term Loan Advances owing to the Lender by the Borrower pursuant to the Credit Agreement dated as of December 6, 2018 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; capitalized terms not otherwise defined herein shall have their respective meanings set forth in the Credit Agreement) among the Borrower, the Lender, certain other Lender Parties party thereto, Summit Hotel Properties, Inc., the Subsidiary Guarantors party thereto, Deutsche Bank AG New York Branch, as Administrative Agent for the Lender and such other Lender Parties party thereto, on the Termination Date. The Borrower promises to pay to the Lender interest on the unpaid principal amount of the Term Loan Advance of the Lender from the date of such Term Loan Advance, until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement. Both principal and interest are payable in lawful money of the United States of America to Deutsche Bank AG New York Branch, as Administrative Agent, at 60 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, xn same day funds. The Term Loan Advances owing to the Lender by the Borrower and...

Examples of Letter of Credit Advances in a sentence

• Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(c), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(c).

• Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(b), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(b).

• Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(b), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.04(c) and request the issuance of additional Letters of Credit under this Section 2.01(b).

• Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(d), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(d).

• Within the limits of the Letter of Credit Facility, and subject to the limits referred to above, the Borrower may request the issuance of Letters of Credit under this Section 2.01(e), repay any Letter of Credit Advances resulting from drawings thereunder pursuant to Section 2.03(c) and request the issuance of additional Letters of Credit under this Section 2.01(e).

More Definitions of Letter of Credit Advances

Letter of Credit Advances means each Existing Letter of Credit and each issuance of a Letter of Credit under Section 2.6 made pursuant to Section 2.1 in which each Lender acquires a pro rata risk participation pursuant to Section 2.6(f).

Letter of Credit Advances means all sums which are from time to time paid by the Agent pursuant to Letters of Credit, or any of them, together with all other sums, fees, reimbursements or other obligations which are due to the Agent pursuant to the Letters of Credit, or any of them.

Letter of Credit Advances means all sums which may from time to time be paid by any and all of the Lenders pursuant to the Letters of Credit, or any of them, together with all other sums, fees, reimbursements or other obligations which may be due to any or all of the Lenders pursuant to the Letters of Credit, or any of them.

Letter of Credit Advances means a Borrowing by way of its issuance of a Letter of Credit pursuant to this Agreement.

Letter of Credit Advances means all sums which are from time to time paid by the Agent pursuant to Letters of Credit, or any of them, together with all other sums, fees,

Letter of Credit Advances means letters of credit issued by the Issuing ---- --------------------------- Bank for the account of a Borrower under the Revolver as provided in SECTION 2.4 ----------- hereof.

Letter of Credit Advances or the “Swing Line Advances”) by the Lender to or for the benefit of the Borrower from time to time in an aggregate amount not to exceed at any time outstanding the Principal Amount or, with respect to any Tranche, the applicable Tranche Principal Amount, the indebtedness of the Borrower resulting from each such Revolving Credit Advance, Exh. A - 1 Digital Realty Trust, L.P. – Form of Promissory Note ​ ​ Letter of Credit Advance and Swing Line Advance being evidenced by this Promissory Note, and