Letter of Credit Borrowings definition

Letter of Credit Borrowings means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a borrowing under a Revolving Loan.
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Letter of Credit Borrowings means the maximum aggregate amount that Lender could be required to pay under any drafts that conceivably could be drawn under all Letters of Credit outstanding on such date, but does not include drafts that have been drawn and paid.
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Letter of Credit Borrowings means, as of any date, the maximum aggregate --------------------------- amount that the Administrative Agent could be required to pay under any drafts that conceivably could be drawn under all Letters of Credit outstanding on such date, but does not include drafts that have been drawn and paid.
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Examples of Letter of Credit Borrowings in a sentence

  • Each Revolving Borrowing (other than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of $10,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount of the unused Revolving Commitments) and shall be made from the several Lenders ratably in proportion to their respective Revolving Commitments.

  • If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, Letter of Credit Borrowings, interest and fees then due hereunder, such funds shall be applied as provided in Section 2.06(c).

  • Each Revolving Borrowing (other than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of $10,000,000 or any larger integral multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount of the unused Commitments) and shall be made from the several Lenders ratably in proportion to their respective Commitments.

  • As at any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate of all Unpaid Reimbursement Obligations, including all Letter of Credit Borrowings.

  • Each 2026 Revolving Borrowing (other than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of $10,000,000 or any larger integral multiple of $1,000,000 (except that any such 2026 Revolving Borrowing may be in the aggregate amount of the unused 2026 Revolving Commitments) and shall be made from the several 2026 Revolving Lenders ratably in proportion to their respective 2026 Revolving Commitments.

  • The Borrower promises to repay to the Administrative Agent for the ratable account of the Lenders the aggregate unpaid principal amount of the Loans (including any Letter of Credit Borrowings) and the Swing Loans on the Revolving Credit Termination Date or earlier, if otherwise required by the terms hereof.

  • All funds received in the Concentration Account in immediately available funds shall, subject to Section 9.03, be applied on a daily basis first, to the Letter of Credit Borrowings and the Swing Line Loans, second, to the outstanding Revolving Credit Loans and third, to any fees, expenses, costs or reimbursement obligations due and owing to the Administrative Agent or the Lenders.

  • The aggregate outstanding amount of all Loans, all Letter of Credit Borrowings, all fee and expenses and all other outstanding and unpaid Obligations shall be due and payable in full on December 31, 2010; except for Incremental Term Loans which shall be due and payable on the Incremental Term Maturity Date.

  • Each 2027 Revolving Borrowing (other than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of $10,000,000 or any larger integral multiple of $1,000,000 (except that any such 2027 Revolving Borrowing may be in the aggregate amount of the unused 2027 Revolving Commitments) and shall be made from the several 2027 Revolving Lenders ratably in proportion to their respective 2027 Revolving Commitments.

  • Moneys in such account shall (i) be applied by the Agent to the payment of Letter of Credit Borrowings and interest thereon, (ii) be held for the satisfaction of the reimbursement Obligations of the Borrowers in respect of Letters of Credit, and (iii) in the event the maturity of the Loans has been accelerated, with the consent of the Required Banks, be applied to satisfy the Obligations.


More Definitions of Letter of Credit Borrowings

Letter of Credit Borrowings means as of any date the maximum aggregate amount that the Lender could be required to pay under drafts that could properly be drawn in compliance with the terms of all Letters of Credit outstanding on such date, except for drafts that have been drawn and paid and drafts under Letters of Credit which are secured by cash. 3. The Credit Agreement is hereby amended by deleting Section 1.2 (aj) in its entirety and inserting in lieu thereof the following:
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Related to Letter of Credit Borrowings

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Borrowing means a Committed Borrowing or a Swing Line Borrowing, as the context may require.

  • Revolving Loans as defined in Section 2.4(a).

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.