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.
Letters of Credit Maximum Amount means, at any time, the lesser of (i) US$300,000,000 and (ii) the US 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 L/C Obligations in an amount in excess of the amount shown as the “Letter of Credit Maximum Amount” 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.
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.
Examples of Letters of Credit Maximum Amount in a sentence
The Letters of Credit Maximum Amount shall automatically terminate on the Maturity Date.
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.
More Definitions of Letters of Credit Maximum Amount
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.
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.
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.