Letter of Credit Reimbursement Obligation definition

Letter of Credit Reimbursement Obligation is defined in Section 2.6.3.

Letter of Credit Reimbursement Obligation means the obligation of the Borrowers to provide to the Lender or reimburse the Lender for any amounts payable, paid, or incurred by the Lender with respect to Letters of Credit.

Examples of Letter of Credit Reimbursement Obligation in a sentence

The meaning specified in the definition of the term Letter of Credit Reimbursement Obligation.
With respect to any Letter of Credit Reimbursement Obligation, the amount which the Issuer could be required to pay to the LOC Agent Bank in respect thereof (including, for the avoidance of doubt, any portion thereof which the Issuer has collateralized or deposited into a trust or with the LOC Agent Bank for the purpose of making such payments).
The meaning specified in the definition of the term "Letter of Credit Reimbursement Obligation".
The meaning specified in the definition of Letter of Credit Reimbursement Obligation.
For the avoidance of doubt, a Letter of Credit Reimbursement Obligation will not include any letter of credit facility, or revolving facility with a letter of credit component, that does not require the Issuer (and each other lender under such facility) to collateralize its commitment or deposit the amount thereof in trust.

Letter of Credit Reimbursement Obligation means the obligation of the Account Party to reimburse the Issuing Bank for drawings on the Letter of Credit, together with interest thereon.

Letter of Credit Reimbursement Obligation. A facility whereby (i) a fronting bank that, at the time of acquisition of such Letter of Credit Reimbursement Obligation by the Issuer or the Issuer's commitment to acquire the same, has a short-term rating of at least "A-1" and a long-term rating of at least "A" (or, if no short-term rating exists, a long-term rating of "A+") by S&P (an "LOC Agent Bank") issues or will issue a letter of credit (an "LC") for or on behalf of a borrower pursuant to an Underlying Instrument, (ii) in the event that the LC is drawn upon, and the borrower does not reimburse the LOC Agent Bank, the lender/participant is obligated to fund its portion of the facility, (iii) the LOC Agent Bank passes on to the lender/participant (in whole or in part) the fees and any other amounts it receives for providing the LC and (iv)(a) the related Underlying Instruments require the Issuer to fully collateralize the Issuer's obligations to the related LOC Agent Bank or obligate the Issuer to make a deposit into a trust in an aggregate amount equal to the related LC Commitment Amount, (b) the collateral posted by the Issuer is held by, or the Issuer's deposit is made in, a depository institution meeting the requirement set forth in Section 10.1 and (c) the collateral posted by the Issuer is invested in Eligible Investments that are overnight funds.

Letter of Credit Reimbursement Obligation means (a) with respect to any Participated Letter of Credit, the obligation of the applicable Account Party to reimburse the Issuing Bank for LC Disbursements on such Participated Letter of Credit, together with interest thereon, and (b) with respect to a Syndicated Letter of Credit, the obligation of the applicable Account Party to reimburse each Bank for LC Disbursements made by such Bank on such Syndicated Letter of Credit, together with interest thereon, and "LETTER OF CREDIT REIMBURSEMENT OBLIGATIONS" shall mean all such obligations with respect to all Letters of Credit.

Letter of Credit Reimbursement Obligation. A facility received in connection with a workout of a Collateral Obligation whereby (i) a fronting bank (“LOC Agent Bank”) issues or will issue a letter of credit (“LC”) for or on behalf of a borrower pursuant to an Underlying Instrument, (ii) in the event that the LC is drawn upon, and the borrower does not reimburse the LOC Agent Bank, the lender/participant is obligated to fund its portion of the facility and (iii) the LOC Agent Bank passes on (in whole or in part) the fees and any other amounts it receives for providing the LC to the lender/participant. “LIBOR”: The meaning specified in Section 2.14(b). “LIBOR Floor Obligation”: As of any date, a Floating Rate Obligation (a) for which the related Underlying Instruments allow a LIBOR rate option, (b) that provides that such LIBOR rate is (in effect) calculated as the greater of (i) a specified “floor” rate per annum and

Letter of Credit Reimbursement Obligation any obligation of any Borrower to reimburse the Issuing Bank for any amount drawn under any Letter of Credit, as provided in subsection 4.3.

Letter of Credit Reimbursement Obligation is defined in SECTION 2.6.3 of the Credit Agreement.

Letter of Credit Reimbursement Obligation. “London Banking Day”: A day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in London, England. “LSTA”: The Loan Syndications and Trading Association. “Maintenance Covenant”: A covenant by any Obligor to comply with one or more financial covenants during each reporting period, whether or not such Obligor has taken any specified action. “Majority”: