Letters of Credit Maximum Amount definition

Letters of Credit Maximum Amount means, at any time, the lesser of (i) $1,000,000,000 and (ii) the Revolving Credit Commitment Amount in effect at such time; provided, however, that (x) none of the initial five Issuing Banks (as specified in the definition of such term) shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of $200,000,000 for any such Issuing Bank, except as may otherwise be agreed in writing by such Issuing Bank, and (y) no other Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of an amount to be agreed in writing by the Borrower and such Issuing Bank.
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Letters of Credit Maximum Amount means, at any time, the lesser of (i) $500,000,000 and (ii) the Revolving Credit Commitments Amount in effect at such time; provided, however, that (x) no Initial Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of the amount shown as the “L/C Subcommitment Amount” of such Initial Issuing Bank as set forth in Part II of Schedule 1.1‑C, except as may otherwise be agreed in writing by such Initial Issuing Bank, and (y) no other Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of an amount to be agreed in writing by the Borrower and such Issuing Bank.
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Letters of Credit Maximum Amount means, at any time, the sum of (x) US$125,000,000 plus (y) the amount of any other letter of credit facility pursuant to Section 6.06(p)(i) incurred as an incremental facility hereunder plus (z) any additional Letters of Credit Maximum Amount incurred as an Incremental Facility hereunder pursuant to Section 2.23 (which such amount, for the avoidance of doubt, shall be in addition to, and not limited by, any amounts incurred pursuant to Section 6.06(p)(i)); provided, however, that no Letter of Credit Facility Participant shall have outstanding at any time L/C Exposure in an amount in excess of the amount shown as the “Letters of Credit Maximum Amount” of such Letter of Credit Facility Participant as set forth in Schedule V. For the avoidance of doubt, Letters of Credit Maximum Amount is not a part of, and is in addition to, the Revolving Commitments.
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Examples of Letters of Credit Maximum Amount in a sentence

  • Each Incremental Commitment that increases the Letters of Credit Maximum Amount shall also increase the amount of Revolving Credit Commitments by an amount corresponding to such increase in the Letters of Credit Maximum Amount and such increased amount shall be provided by the relevant Lender making such Incremental Commitment.

  • For purposes hereof, a Lender’s “pro rata share” shall be determined based upon its share of the sum of the total Revolving Exposure and unused Commitments at the time, or upon its share of the sum of the total Letters of Credit Maximum Amount at the time, as applicable.

  • Each reduction of the Letters of Credit Maximum Amount shall be made ratably among the Letters of Credit Facility Participants in accordance with their respective Letters of Credit Maximum Amount.

  • The Letters of Credit Maximum Amount shall automatically terminate on the Maturity Date.

  • From and after the Amendment No. 3 Effective Date, HSBC Bank Canada agrees that it shall be bound by the provisions of the Credit Agreement, as amended hereby, as the Canadian Issuing Bank thereunder and shall have all obligations of the Canadian Issuing Bank set forth therein, including, subject to the conditions therein, to issue Canadian Letters of Credit at any time outstanding up to the Letters of Credit Maximum Amount set forth across from its name on Schedule IV thereto.


More Definitions of Letters of Credit Maximum Amount

Letters of Credit Maximum Amount means, at any time, the lesser of (i) the sum of (x) US$100,000,000 plus (y) the amount of any other letter of credit facility pursuant to Section 6.06(p)(i) incurred as an incremental facility hereunder and (ii) the Revolving Commitments in effect at such time; provided, however, that no Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations in an amount in excess of the amount shown as the “Letters of Credit Maximum Amount” of such Issuing Bank as set forth in Schedule V. Letters of Credit Maximum Amount is a part of, and not in addition to, the Revolving Commitments.
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Letters of Credit Maximum Amount means, with respect to US Letters of Credit, at any time, the lesser of (i) US$300,000,000 and (ii) the US Revolving Commitments in effect at such time, and with respect to Canadian Letters of Credit, at any time the lesser of US$32,000,000 and the Canadian Revolving Commitments in effect at such time; provided, however, that (x) no Initial Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time US L/C Obligations or Canadian L/C Obligations, as applicable, in an amount in excess of the amount shown as the “LetterUS Letters of Credit Maximum Amount” or the “Canadian Letters of Credit Maximum Amount”, as applicable, of such Initial Issuing Bank as set forth in Schedule IV, except as may otherwise be agreed in writing by such Initial Issuing Bank, and (y) no other Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations in an amount in excess of an amount to be agreed in writing by the Borrower and such Issuing Bank.
Sample 1
Letters of Credit Maximum Amount means, (a) with respect to US Letters of Credit, at any time, the least of (i) US$300,000,000, (ii) the Unsecured Commitment Cap then in effect, and (iii) the US Revolving Commitments in effect at such time, and (b) with respect to Canadian Letters of Credit, at any time the least of (i) US$32,000,000, (ii) the Unsecured Commitment Cap in effect at such time , and (iii) the Canadian Revolving Commitments in effect at such time; provided, however, that no Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time US L/C Obligations or Canadian L/C Obligations, as applicable, in an amount in excess of the amount shown as the “US Letters of Credit Maximum Amount” or the “Canadian Letters of Credit Maximum Amount”, as applicable, of such Issuing Bank as set forth in Schedule IV, except as may otherwise be agreed in writing by such Issuing Bank.
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Letters of Credit Maximum Amount means, at any time, the lesser of (i) $350,000,000, (ii) the Extended 20252028 Commitments in effect at such time and (iii) the Revolving Credit Commitments Amount in effect at such time; provided, however, that (x) no Initial Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of the amount shown as the “L/C Subcommitment Amount” of such Initial Issuing Bank as set forth in Part II of Schedule 1.1-C, except as may otherwise be agreed in writing by such Initial Issuing Bank, and (y) no other Issuing Bank shall be required to issue Letters of Credit or have outstanding at any time L/C Obligations with an aggregate Dollar Equivalent in excess of an amount to be agreed in writing by the Borrower and such Issuing Bank. ​ ‌ ​ ‌ ​ ​
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Related to Letters of Credit Maximum Amount

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letters 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 principal amount of all Unpaid Drawings in respect of all Letters of Credit.

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

  • Aggregate Outstanding Extensions of Credit as to any Lender with respect to any Type of Loan at any time, an amount equal to the sum of (a) the aggregate principal amount of all Loans of such Type made by such Lender then outstanding and (b) such Lender's Commitment Percentage of the L/C Obligations then outstanding.

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

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Multicurrency Letters of Credit means Letters of Credit that utilize the Multicurrency Commitments.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • 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.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • 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.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • 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 Limit means $5,000,000.

  • Dollar Letters of Credit means Letters of Credit that utilize the Dollar Commitments.

  • Letter of Credit Usage means, as of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit.

  • 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 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.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • 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.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.