Letter of Credit Subsidiaries definition

Letter of Credit Subsidiaries has the meaning set forth in ----------------------------- Section
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Letter of Credit Subsidiaries has the meaning set forth in Section 3.9(f).
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Letter of Credit Subsidiaries means any one or more of Borrower’s Subsidiaries or Home Building Joint Ventures.
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Examples of Letter of Credit Subsidiaries in a sentence

  • Subject to the terms and upon the conditions of this Agreement, an Issuing Bank shall issue letters of credit for the account of Borrower and the Letter of Credit Subsidiaries from time to time up to but not including the L/C Commitment Termination Date.

  • Issuing Bank shall not be required to issue any Letter of Credit for the benefit of creditors to which the Company or the Letter of Credit Subsidiaries are obligated in respect of obligations for borrowed money.

  • Subject to the terms and upon the conditions of this Agreement, an Issuing Bank shall issue letters of credit for the account of Borrower and the Letter of Credit Subsidiaries from time to time up to but not including the Maturity Date.

  • Subject to the terms and ------------------------------ upon the conditions of this Agreement, the Issuing Bank shall issue letters of credit for the account of the Company and the Letter of Credit Subsidiaries from time to time up to but not including July 31, 2002 (as extended by the Banks in writing from time to time in their sole discretion, the "L/C Commitment Termination Date").

  • Borrower has requested that Letters of Credit from time to time upon its request be issued by an Issuing Bank (the "Subsidiary Letters of Credit") with Borrower and any one or more of Borrower's Subsidiaries or Home Building Joint Ventures (collectively, the "Letter of Credit Subsidiaries") as the "account parties" (which would be liable under the reimbursement agreements pertaining to such Subsidiary Letters of Credit) thereunder.

  • Subject to the terms and ------------------------------ upon the conditions of this Agreement, the Issuing Bank shall issue letters of credit for the account of the Company and the Letter of Credit Subsidiaries from time to time up to but not including July 31, 2004 (as extended by the Banks in writing from time to time in their sole discretion, the "L/C Commitment Termination Date").

  • Subject to the terms and ------------------------------ upon the conditions of this Agreement, the Issuing Bank shall issue letters of credit for the account of the Company and the Letter of Credit Subsidiaries from time to time up to but not including July 31, 2003 (as extended by the Banks in writing from time to time in their sole discretion, the "L/C Commitment Termination Date").

  • Subject to the terms and upon ------------------------------ the conditions of this Agreement, the Issuing Bank shall issue letters of credit for the account of the Company and the Letter of Credit Subsidiaries from time to time up to but not including July 31, 2001 (as extended by the Banks in writing from time to time in their sole discretion, the "L/C Commitment Termination Date").

Related to Letter of Credit Subsidiaries

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • Letters of Credit as defined in Section 3.1(a).

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

  • Letter of Credit Outstandings means, at any time, the sum of, without duplication, (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the aggregate amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Letter of Credit Participation shall have the meaning provided in Section 3.3(a).