Letter of Credit Commitment Percentage definition

Letter of Credit Commitment Percentage means, with respect to any Revolving Credit Lender or Incremental Facility Revolving Credit Lender, the ratio of (a) the amount of the Revolving Credit Commitment or Incremental Facility Revolving Credit Commitment of a specific Class of such Lender to (b) the aggregate amount of the Revolving Credit Commitments or Incremental Facility Revolving Credit Commitments, as applicable, of all Lenders of such Class.
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Letter of Credit Commitment Percentage means, with respect to any Revolving Credit Lender or Incremental Facility Revolving Credit Lender, the ratio of (a) the amount of the Revolving Credit Commitment or Incremental Facility Revolving Credit Commitment of a specific Class of such Lender to(b) the aggregate amount of the Revolving Credit Commitments or Incremental Facility Revolving Credit Commitments, as applicable, of all Lenders of such Class.
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Letter of Credit Commitment Percentage shall have the meaning specified in Section 2.2 hereof.
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Examples of Letter of Credit Commitment Percentage in a sentence

  • Each Bank (other than the Bank acting as L/C Issuer in issuing the Letter of Credit), by its acceptance hereof, severally agrees to purchase from the L/C Issuer, and the L/C Issuer hereby agrees to sell to each such Bank, an undivided percentage participating interest, to the extent of each Bank’s Letter of Credit Commitment Percentage, in the Letter of Credit issued by, and each Reimbursement Obligation owed to, the L/C Issuer.

  • Each such reduction in part shall automatically terminate each Bank’s Letter of Credit Commitment by an amount equal to its Letter of Credit Commitment Percentage of the amount of the reduction.

  • Each such Bank shall thereafter be entitled to receive its Letter of Credit Commitment Percentage of each payment received in respect of the relevant Reimbursement Obligation and of interest paid thereon, with the L/C Issuer retaining its Letter of Credit Commitment Percentage thereof as a Bank hereunder.

  • The Letter of Credit shall be issued by the L/C Issuer, but each Bank shall be obligated to reimburse the L/C Issuer for such Bank’s Letter of Credit Commitment Percentage of the amount of each drawing thereunder and, accordingly, each drawing on the Letter of Credit shall constitute usage of the Letter of Credit Commitment of each Bank pro rata in an amount equal to its Letter of Credit Commitment Percentage.

  • SCHEDULE II PERCENTAGES Lender Revolving Loan Commitment Letter of Credit Commitment Percentage Citibank, N.A. $ 45,000,000 $ 3,000,000 37.500000001 % PNC Bank, N.A. $ 40,000,000 $ 2,000,000 33.333333333 % Citizens Bank, N.A. $ 25,000,000 $ 0 20.833333333 % TriState Capital Bank $ 10,000,000 $ 0 8.333333333 % Total $ 120,000,000 $ 5,000,000 100.000000000 % SCHEDULE III ADMINISTRATIVE INFORMATION Borrower: Lannett Company, Inc.

  • Effective in the case of each Letter of Credit as of the date of the opening thereof, the Issuing Bank agrees to allot and does allot, to itself and each other Bank, and each Bank severally and irrevocably agrees to take and does take in such Letter of Credit and the related L/C Application, an L/C Participating Interest in a percentage equal to such Bank's Letter of Credit Commitment Percentage.

  • At any time, upon request of the Swingline Lender made to all the Banks, each Bank irrevocably agrees to purchase its prorata share (based on such Bank's Letter of Credit Commitment Percentage) of any Swingline Loan made by the Swingline Lender regardless of whether the conditions for disbursement are satisfied at the time of such purchase, including the existence of a Default or an Event of Default hereunder provided no Bank's Total Exposure shall exceed its Commitment.

  • Each Syndicated Letter of Credit shall be issued by all of the Banks, acting through the Agent, at the time of issuance as a single multi-bank letter of credit, but the obligation of each Bank thereunder shall be several and not joint, based upon its Letter of Credit Commitment Percentage.

  • No Bank will be obligated to fund its Letter of Credit Commitment Percentage of a drawing on a Participated Letter of Credit if such funding would cause the aggregate amount of outstanding unreimbursed LC Disbursements by such Bank of drawings on Letters of Credit to exceed such Bank's Letter of Credit Committed Amount.

  • The Letter of Credit has been issued by the L/C Issuer, but each Bank shall be obligated to reimburse the L/C Issuer for such Bank’s Letter of Credit Commitment Percentage of the amount of each drawing thereunder and, accordingly, each drawing on the Letter of Credit shall constitute usage of the Letter of Credit Commitment of each Bank pro rata in an amount equal to its Letter of Credit Commitment Percentage.


More Definitions of Letter of Credit Commitment Percentage

Letter of Credit Commitment Percentage for each Bank shall mean a fraction, expressed as percentage, the numerator of which is such Bank's Letter of Credit Committed Amount and the denominator of which is the aggregate Letter of Credit Committed Amounts of all of the Banks.
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Letter of Credit Commitment Percentage means, as to any Letter of Credit Lender at any time, the percentage of the Total Letter of Credit Commitments represented by such Letter of Credit Lender’s Letter of Credit Commitment.
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Letter of Credit Commitment Percentage means, as to any Bank, the percentage set forth opposite such Bank's name under such heading on Schedule 1.1.
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Letter of Credit Commitment Percentage means, with respect to any Revolving Credit Lender or Incremental Facility Revolving Credit Lender, the ratio of (a) the amount of the Revolving Credit Commitment or Incremental
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Related to Letter of Credit Commitment Percentage

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Letter of Credit Commitment means, with respect to the Issuer, the Issuer's obligation to issue Letters of Credit pursuant to Section 2.1.3 and, with respect to each of the other Lenders that has a Revolving Loan Commitment, the obligation of each such Lender to participate in such Letters of Credit pursuant to Section 2.6.1.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Revolving Commitment Percentage means, for each Lender, the percentage identified as its Revolving Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6(c).

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the date hereof is $250,000,000.

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Commitment Percentage is set forth in Schedule 1.1, as amended from time to time.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent amount of the principal amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the Letters of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a)).

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Revolving Loan Commitment means, for each Bank, the amount set forth opposite such Bank's name in Schedule I directly below the column entitled "Revolving Loan Commitment," as same may be (x) reduced from time to time pursuant to Sections 3.02, 3.03 and/or 10 or (y) adjusted from time to time as a result of assignments to or from such Bank pursuant to Section 1.13 or 13.04(b).

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender, the percentage of the total Revolving Facility Commitments represented by such Lender’s Revolving Facility Commitment. If the Revolving Facility Commitments have terminated or expired, the Revolving Facility Percentages shall be determined based upon the Revolving Facility Commitments most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Canadian Revolving Commitment means, with respect to each Revolving Lender, the commitment, if any, of such Revolving Lender to make Canadian Revolving Loans hereunder up to the amount set forth on Schedule I to the Lender Addendum executed and delivered by such Lender or in the Assignment and Assumption pursuant to which such lender assumed its Canadian Revolving Commitment. The Canadian Revolving Commitment of each Revolving Lender is a sub-commitment of its Revolving Commitment and, as such, may be (a) reduced from time to time pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such Revolving Lender pursuant to Section 11.04. The aggregate amount of the Lenders’ Canadian Revolving Commitments on the Closing Date is $40 million.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Aggregate Revolving Credit Commitments means the Revolving Credit Commitments of all the Lenders.

  • U.S. Revolving Credit Commitment shall have the meaning assigned to such term in Section 2.1(c).

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.