Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).
Letter of Credit Reserve means, at any time, an amount equal to (i) the aggregate Letters of Credit Outstanding at such time plus, without duplication, (ii) the aggregate amount theretofore paid by the issuer under the Letters of Credit and not debited to the Borrowers’ account or otherwise reimbursed by the Borrowers.
Letter of Credit Reserve is defined in Section 2.3(e).
Examples of Letter of Credit Reserve in a sentence
The aggregate balance of Revolving Advances outstanding plus the Letter of Credit Reserve plus the aggregate principal amount of Swingline Loans outstanding at any time shall not exceed the Maximum Revolving Advance Amount.
Subject to the terms and conditions set forth in this Agreement (including, without limitation, Section 2.1(b) and Article VIII), each Lender, severally and not jointly, will make Revolving Advances to Borrower during the Term in aggregate amounts outstanding at any time not to exceed such Xxxxxx’s Commitment Percentage of the Maximum Revolving Advance Amount minus, in either case, the sum of (1) the outstanding amount of the Revolving Advances and Swingline Loans plus (2) the Letter of Credit Reserve.
More Definitions of Letter of Credit Reserve
Letter of Credit Reserve means, at any time, the aggregate Letter of Credit Obligations at such time, other than Letter of Credit Obligations that are fully secured by Cash Collateral.
Letter of Credit Reserve means as of any date of determination, an amount equal to the aggregate principal amount of all undrawn Letters of Credit issued by Bank for the account of Company under and pursuant to this Agreement and the amount of all draws under Letters of Credit paid by Bank and not reimbursed by Company.
Letter of Credit Reserve has the meaning set forth in Section 2.1.3(g).
Letter of Credit Reserve means as of any date of determination thereof, an amount equal to the undrawn amount of all Letters of Credit plus the unreimbursed amount of any draws under Letters of Credit honored by Bank.
Letter of Credit Reserve means, at any time, the aggregate Letter of Credit Obligations at such time, excluding Letter of Credit Obligations that are fully secured by Cash Collateral.
Letter of Credit Reserve means, at any time, 100% of the sum of (i) the aggregate undrawn amount of all Letters of Credit outstanding at such time, plus (ii) the aggregate amount of all drawings under Letters of Credit for which the Lender has not been reimbursed.
Letter of Credit Reserve means, at any time, an amount equal to (a) the Dollar Equivalent amount of the aggregate Letters of Credit Outstanding at such time plus, without duplication, (b) the aggregate Dollar Equivalent amount theretofore paid by the Issuing Bank under the Letters of Credit and not debited to the Borrower's account or otherwise reimbursed by the Borrower.