Letter of Credit Issuance Limit definition

Letter of Credit Issuance Limit means with respect to each Issuing Bank, $75,000,000 or any lesser amount to be agreed to in writing among such Issuing Bank, the Borrower, and the Administrative Agent.
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Letter of Credit Issuance Limit means (a) with respect to SunTrust Bank, $50,000,000, (b) with respect to Wxxxx Fargo Bank, National Association, $50,000,000, (c) with respect to U.S. Bank National Association, $50,000,000, (d) with respect to Bank of America, N.A., $50,000,000, (e) with respect to Regions Bank, $50,000,000, and (f) with respect to any other Lender designated as an Issuing Bank pursuant to the terms hereof, an amount to be agreed to in writing among such Issuing Bank, the Borrower, and the Administrative Agent.
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Letter of Credit Issuance Limit means, with respect to each Letter of Credit Issuer, the amount set forth on Schedule 3.1(a) opposite such Letter of Credit Issuer’s name, or in the case of any New Money Lender that becomes a Letter of Credit Issuer after the Interim Facility Effective Date, the amount set forth in the agreement pursuant to which such New Money Lender becomes a Letter of Credit Issuer pursuant to Section 3.6(a).
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Examples of Letter of Credit Issuance Limit in a sentence

  • In addition, at the request of the Borrower, an Issuing Bank may, in its sole discretion, agree to issue, amend, renew or extend Letters of Credit in excess of its Letter of Credit Issuance Limit, provided, however, after giving effect to any such issuance, amendment, renewal or extension, (x) the aggregate outstanding amount of the Letter of Credit Obligations shall not exceed the Letter of Credit Commitment and (y) the Aggregate Revolving Credit Obligations shall not exceed the Revolving Loan Commitment.

  • In no event shall (i) the aggregate undrawn face amount of the Letters of Credit issued pursuant to this Section 2.10 by any Bank at any time exceed that Bank's Letter of Credit Issuance Limit; (ii) the L/C- Escrow Exposure exceed at any time the L/C-Escrow Sublimit; (iii) the Aggregate Credit Exposure at any time exceed the Commitments; or (iv) Borrower request any Letter of Credit if the issuance thereof would cause the Loan Parties to violate the covenant contained in Section 8.01(e).

  • The amount of each Facility A Bank's Letter of Credit Issuance Limit on and after the Mandatory Reduction Date shall be equal to the greater of (1) 50% of the amount of such Letter of Credit Issuance Limit immediately before the Mandatory Reduction Date or (2) the amount of such Facility A Bank's obligations as the Issuing Bank under Letters of Credit.

  • CHESAPEAKE ENERGY CORPORATION By: Name: Title: Schedule 3.1(a) Chesapeake Energy Corporation Letter of Credit Issuance Limits Name of Letter of Credit Issuer Letter of Credit Issuance Limit MUFG Union Bank, N.A. $ 83,333,333.34 JPMorgan Chase Bank, N.A. $ 83,333,333.34 Xxxxx Fargo Bank, National Association $ 83,333,333.34 Bank of America, N.A. $ 83,333,333.33 BMO Xxxxxx Bank N.A. $ 83,333,333.33 Citicorp North America, Inc.

  • Whenever a Bank increases its Commitment hereunder, (1) the L/C-Escrow Sublimit shall increase by an amount equal to 2/3 of the increased of such Bank's Commitment, and (2) its Letter of Credit Issuance Limit and its Escrow Agreement Issuance Limit each shall be increased by multiplying the current limit times a fraction equal to its new Commitment after giving effect to the increase in its Commitment divided by its Commitment before such increase.

  • Letter of Credit Issuance Limit shall mean as to any Facility A Bank at any time, the amount set forth opposite its name on Schedule 1.01(C) hereto in the column labeled "Letter of Credit Limit" as amended from time to time.


More Definitions of Letter of Credit Issuance Limit

Letter of Credit Issuance Limit means, with respect to any L/C Issuer, an amount equal to the amount set forth and opposite such L/C Issuer’s name on Schedule 1.01(A) as such amount may be adjusted hereunder from time to time.
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Related to Letter of Credit Issuance Limit

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) the Aggregate Revolving Commitments and (b) $50,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • Letter of Credit Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the applicable L/C Issuer.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate Available Amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all payments or disbursements made by an Issuing Bank pursuant to a Letter of Credit Advance that have not yet been reimbursed at such time.