Letter of Credit Line means that certain line of credit to be provided under the Loan for the purposes set forth in Section 2.3 of this Agreement, which line of credit shall not exceed at any time the sum of Two Million Dollars ($2,000,000.00) (“LOC Total Commitment Amount”). The Letter of Credit Line shall be a revolving line of credit. Prior to the Maturity Date, the Letter of Credit Line may be drawn, repaid and drawn again through individual Advances in repetition, subject to the limitations herein, so long as:

Letter of Credit Line is the issuance of a Letter of Credit or Letters of Credit of up to Ten Million Five Hundred Thousand Dollars ($10,500,000.00).”

Letter of Credit Line is the issuance of a Letter of Credit of up to Four Million Five Hundred Thousand Dollars ($4,500,000.00), which amount shall reduce as the amount of the Letter of Credit reduces in accordance with the terms of the Letter of Credit." and inserting in lieu thereof the following:

Examples of Letter of Credit Line in a sentence

A motion by Rita Athas authorizing the Executive Director to execute documents related to a $1.2 million Certificate of Deposit, Letter of Credit, Line of Credit, and other related documents to facilitate the completion of the lease with the Old Post Office was seconded by Carolyn Schofield.
Borrower agrees to execute whatever further documents and to provide whatever further assurances Bank may reasonably request or deem necessary to effectuate the terms of the Renewal First Working Capital Line, the Renewal Letter of Credit Line, and this Amendment.
Payment of the Renewal First Working Capital Line Note and the Renewal Letter of Credit Line Note shall be and is hereby secured by all Collateral described in Article III of the Agreement.
Subject to the terms and conditions of the Agreement, as amended by this Amendment, the Letter of Credit Line is hereby renewed in the maximum principal amount of $4,000,000.00 (the "Renewal Letter of Credit Line").
The Renewal Letter of Credit Line shall be evidenced by a $4,000,000.00 renewal promissory note of Borrower in form and substance satisfactory to Bank (the "Renewal Letter of Credit Line Note").

More Definitions of Letter of Credit Line

Letter of Credit Line means aggregate Credit Extensions of up to Ten Million Dollars ($10,000,000).

Letter of Credit Line is the issuance of a Letter of Credit or Letters of Credit of up to Twenty Million Dollars ($20,000,000.00).”

Letter of Credit Line means aggregate Credit Extensions of up to Twenty Million Dollars ($20,000,000).

Letter of Credit Line is the issuance of a Letter of Credit or Letters of Credit of up to Four Million Dollars ($4,000,000.00).”

Letter of Credit Line has the meaning ascribed to such term in Section 2.3 hereof.

Letter of Credit Line means that certain revolving sublimit within the Master Line in an amount up to a maximum sum of Ten Million Dollars ($10,000,000.00), which line of credit shall be extended by Lenders for the purposes of issuance of one (1) or more Letter(s) of Credit. Notwithstanding any provision of this Agreement to the contrary, in no event shall the sum of the Advances under the Master Line made or committed and not yet disbursed for (i) the aggregate Maximum Allowed Lot Allocations, (ii) the Maximum Allowed Letter of Credit Line Allocations, and (iii) the aggregate Home Loan Allocations exceed the lesser of the Commitment Amount or the Borrowing Availability

Letter of Credit Line is the issuance of a Letter of Credit or Letters of Credit of up to Seven Million Dollars ($7,000,000.00).