Letter of Credit Percentage definition

Letter of Credit Percentage means the percentage per annum equal to the Applicable Rate, as in effect from time to time, as set forth in the column “Eurodollar Rate Loans (and Letters of Credit)” in the table set forth in the definition of “Applicable Rate” above.

Letter of Credit Percentage as to any L/C Participant at any time, the percentage which (a) such Lender’s unused Letter of Credit Commitment and Credit Linked Deposit then outstanding constitutes of (b) the aggregate unused Letter of Credit Commitments and Total Credit Linked Deposit then outstanding.

Letter of Credit Percentage means, (a) initially with respect to (i) Barclays Bank PLC, 35.00%, (ii) Xxxxxx Xxxxxxx Senior Funding, Inc., 20.00%, (iii) Xxxxxxx Sachs Bank USA, 15.00%, (iv) BMO Capital Markets Corp., 10.00%, (v) Xxxxx Capital LLC 10.00%, and (vi) HSBC Bank USA, N.A., 10.00% (in each case, as may be reduced to reflect any percentage allocated to another Issuing Bank pursuant to the immediately succeeding clause (b)) and (b) from time to time after the Closing Date with respect to any other Issuing Bank, a percentage to be agreed between the Borrower and such Issuing Bank.

Examples of Letter of Credit Percentage in a sentence

• Such adjustments shall be given prospective effect only, effective as to all Advances outstanding hereunder, the Applicable Facility Fee Percentage and the Applicable Letter of Credit Percentage, upon the date of delivery of the financial statements under Sections 6.1(a) and 6.1(b) hereunder and the Certificate of Compliance under Section 6.1(e) hereof, in each case establishing applicability of the appropriate adjustment and in each case with no retroactivity or claw-back.

• Borrower shall pay to Bank in advance upon issuance of any Letter of Credit a fee equal to the Applicable Letter of Credit Percentage per annum of the amount of such Letter of Credit.

• The obligations to indemnify each Issuing Lender shall be ratable among the L/C Participants in accordance with their Letter of Credit Percentage.

• Performance Letter of Credit Facility such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations hereunder in Letters of Credit will equal each Performance Letter of Credit Lender’s Applicable Performance Letter of Credit Percentage (after giving effect to such increase in the Performance Letter of Credit Facility).

• Each Defaulting Lender that is a Revolving Credit Lender or a Performance Letter of Credit Lender shall be entitled to receive Letter of Credit Fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Applicable Revolving Credit Percentage or Applicable Performance Letter of Credit Percentage, as applicable, of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to Section 2.17.

More Definitions of Letter of Credit Percentage

Letter of Credit Percentage means, (x) with respect to (i) Citibank, N.A., 30.92%, (ii) Barclays Bank PLC, 17.27%, (iii) Gxxxxxx Sachs Bank USA, 17.27%, (iv) Credit Suisse AG, Cayman Islands Branch, 17.27% and (v) HSBC Bank USA, N.A., 17.27% (in each case as may be reduced to reflect any percentage allocated to another L/C Issuer pursuant to the immediately succeeding clause (y)), and (y) any other Letter of Credit Issuer, a percentage to be agreed between the Borrower and such L/C Issuer.

Letter of Credit Percentage means, with respect to (i) (1) Barclays Bank PLC, 17.00000%, (2) Royal Bank of Canada, 17.00000%, (3) Bank of Montreal, 51.00000%, and (4) Xxxxxxx Sachs Lending Partners LLC, 13.33333% (in each case as may be reduced to reflect any percentage allocated to another Letter of Credit Issuer pursuant to the immediately succeeding clause (ii)), and (ii) any other Letter of Credit Issuer, a percentage to be agreed between the Borrower and such Letter of Credit Issuer.

Letter of Credit Percentage means, with respect to (x) SunTrust, 100% (as may be reduced to reflect any percentage allocated to another LC Issuer pursuant to the definition of “LC Issuer” or increased as agreed by the Parent Borrower and such LC Issuer) and (y) any other LC Issuer, a percentage to be agreed between the Parent Borrower and such LC Issuer.

Letter of Credit Percentage means with respect to any Issuing Bank, a percentage to be agreed between the Borrower Representative and such Issuing Bank.

Letter of Credit Percentage means, (a) initially with respect to (i) Citibank, Xxxxxxx Xxxxx Bank USA, Bank of America, N.A., Credit Suisse AG, Cayman Islands Branch, UBS AG, Stamford Branch, Xxxxx Fargo Bank, National Association, Capital One, National Association as set forth in Schedule 2.01(a) (in each case, as may be reduced to reflect any percentage allocated to another Issuing Bank pursuant to the immediately succeeding clause (b)) and (b) from time to time after the Closing Date with respect to any other Issuing Bank, subject to Section 11.01, a percentage to be agreed between the Borrower and such Issuing Bank.

Letter of Credit Percentage means at any time, one hundred percent (100%) minus the Inventory Advance Rate at such time.

Letter of Credit Percentage means, with respect to (x) each Letter of Credit Issuer as of the Closing Date, the percentage set forth opposite such Letter of Credit Issuer’s name on Schedule 1.1(b) under the caption “Letter of Credit Percentage” or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto (in each case, as may be reduced to reflect any percentage allocated to another Letter of Credit Issuer pursuant to the definition of “Letter of Credit Issuer” or increased as agreed by the Borrower and such Letter of Credit Issuer) and (y) any other Letter of Credit Issuer, a percentage to be agreed between the Borrower and such Letter of Credit Issuer.