Letter of Credit Outstanding definition

Letter of Credit Outstanding means, at any time, the sum, without duplication, of (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

Letter of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

Letter of Credit Outstanding shall have the meaning provided in the Credit Agreement.

Examples of Letter of Credit Outstanding in a sentence

• If, on the Expiry Date, any Letter of Credit Outstanding for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then outstanding amount of all such Letters of Credit Outstanding.

• If after giving effect to the prepayment of all outstanding Revolving Loans of such Class, the Revolving Credit Exposures of such Class exceed the Revolving Credit Commitment of such Class then in effect, the Borrower shall Cash Collateralize the Revolving Letter of Credit Outstanding in relation to such Class to the extent of such excess.

• Subject to the terms and conditions hereof and in reliance on the agreements of the other Banks set forth in this Section 2.9, the Letter of Credit Bank will issue a Letter of Credit provided that each Letter of Credit shall in no event expire later than one (1) Business Day prior to the Expiration Date and provided that in no event shall Letter of Credit Outstanding exceed, at any one time, $175,000,000.

• If after giving effect to the prepayment of all outstanding Revolving Loans of such Class, the Revolving Credit Exposures of such Class exceed the Revolving Credit Commitment of such Class then in effect, the Borrower shall Cash Collateralize the Letter of Credit Outstanding in relation to such Class to the extent of such excess.

• At such time as the Event of Default giving rise to the obligation to Cash Collateralize all Letter of Credit Outstanding hereunder shall have been cured or waived, the Administrative Agent shall return all amounts then on deposit with the Administrative Agent pursuant to this Section 2.6.4 to the Company, together with accrued interest at the Federal Funds Rate, which have not been applied to the satisfaction of such Obligations.

More Definitions of Letter of Credit Outstanding

Letter of Credit Outstanding means, at any time, the sum of, without duplication, (a) the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit issued under the Revolving Credit Commitment and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit issued under the Revolving Credit Commitment and (b) the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit issued under the Extended Revolving Credit Commitment and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit issued under the Extended Revolving Credit Commitment.

Letter of Credit Outstanding means, as the context may require, the Canadian Letter of Credit Outstandings or the U.S. Letter of Credit Outstandings.

Letter of Credit Outstanding means, in relation to any Letter of Credit:

Letter of Credit Outstanding any time, the sum of (a) the aggregate stated amount of all outstanding Letters of Credit plus (b) the aggregate amount of all drawings made under any Letter of Credit for which the Issuing Bank has not received reimbursement from the Borrower by means of a borrowing of Revolving Credit Loans pursuant to Section 3 or otherwise from the Borrower or the applicable Foreign Subsidiary.

Letter of Credit Outstanding means, at any time, an amount equal to the sum of

Letter of Credit Outstanding means, as the context may require, the UK Letter of Credit Outstandings or the US Letter of Credit Outstandings.

Letter of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit, PROVIDED that the amount of any Stated Amount or Unpaid Drawing denominated in Sterling shall be deemed to be, as of such date, the Dollar Equivalent thereof at such date.