Letters of Credit Sublimit definition

Letters of Credit Sublimit means a sublimit for Letters of Credit under the Committed Revolving Line not to exceed $2,000,000.
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Letters of Credit Sublimit as at any date, the then current Elected Line Amount.
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Letters of Credit Sublimit means $100,000,000.
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Examples of Letters of Credit Sublimit in a sentence

  • Notwithstanding the foregoing, the Parent Borrower may adjust the amount of the Standby Letters of Credit Sublimit by providing three (3) Business Days prior written notice to the Agent, so long as the total of such Standby Letters of Credit Sublimit plus any Commercial Letter of Credit Outstandings does not exceed the aggregate sublimit for Letter of Credit Outstandings set forth in Section 2.06(c)(i).

  • Pertaining to Deletion of Letters of Credit Sublimit, Foreign Exchange Sublimit and Cash Management Services Sublimit.

  • Loan and Terms of Payment 1 2.1 Promise to Pay 1 2.1.1 Revolving Advances 1 2.1.2 Letters of Credit Sublimit 2 2.1.3 FX Forward Contracts 2 2.1.4 Cash Management Services 2 2.2 Suspension and Termination of Commitment to Lend; Termination of this Agreement 2 2.3 Overadvances 3 2.4 Interest Rates 3 2.5 Term Loan Option 4 2.6 General Provisions 4 2.7 Fees 4 2.8 Mandatory Prepayment Event 5 3.

  • The Loan Agreement shall be amended by deleting each of (i) Section 2.1.1(b) (Revolving Advances — Streamline Period), (ii) Section 2.1.2 (Letters of Credit Sublimit), (iii) Section 2.1.3 (Foreign Exchange Sublimit), (iv) Section 2.1.4 (Cash Management Services Sublimit), and (v) Section 2.1.5 (Overall Aggregate Sublimit) in their entirety.

  • The Schedule to QuickStart Loan and Security Agreement (Letters of Credit Sublimit is replaced, effective on the date hereof, with the Amended Schedule XXX QuickStart Loan and Security Agreement (Merchant Services Sublimit) attached hereto.

  • Notwithstanding anything to the contrary herein, no amount drawn under any Letter of Credit may be reinstated if after giving effect to such reinstatement: (x) the Total Outstanding will exceed the Aggregate Commitments or (y) the Outstanding Amount of the L/C Obligations of an L/C Issuer exceeds thesuch L/C Issuer’s Letters of Credit Sublimit.

  • Notwithstanding anything to the contrary herein, no amount drawn under any Letter of Credit may be reinstated if after giving effect to such reinstatement: (x) the Total Outstanding will exceed the Aggregate Commitments or (y) the Outstanding Amount of the L/C Obligations of an L/C Issuer exceeds such L/C Issuer’s Letters of Credit Sublimit.

  • Subject to Section 2.1.2 hereof, at no time shall the sum of all Advances and all undrawn amounts under all Letters of Credit at any time outstanding exceed the lesser of (i) the Commitment, or (ii) the Borrowing Base, and PROVIDED, FURTHER, that at no time shall the aggregate sum of all undrawn amounts under Standby Letters of Credit at any time exceed the Standby Letters of Credit Sublimit.

  • Notwithstanding the foregoing, the Credit Card Services Sublimit and the aggregate amount outstanding under the Letters of Credit Sublimit, shall not exceed the Maximum Sublimit Amount at any time.

  • The macrosystem is illustrated by the relationship an individual has with his or her cultural background and values.


More Definitions of Letters of Credit Sublimit

Letters of Credit Sublimit means a sublimit for standby letters of credit under the Revolving Line not to exceed One Million Dollars ($1,000,000).
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Letters of Credit Sublimit shall have the meaning set forth in Section 2.10.
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Letters of Credit Sublimit means $5,000,000.00. The Letters of Credit Sublimit is part of, and not in addition to, the $45,000,000.00 line of credit for Advances evidenced by this Note.
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Letters of Credit Sublimit means $25,000,000.
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Letters of Credit Sublimit. As defined in Section 2A.01.
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Related to Letters of Credit Sublimit

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) the Aggregate Revolving Commitments and (b) $25,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • 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.

  • LC Sublimit means $500,000,000.

  • 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.

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $10,000,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • Swingline Sublimit means an amount equal to the lesser of (a) $15,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • 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 $60,000,000.

  • Revolving Credit Outstandings means the sum of (a) with respect to Revolving Credit Loans and Swingline Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Revolving Credit Loans and Swingline Loans, as the case may be, occurring on such date; plus (b) with respect to any L/C Obligations on any date, the aggregate outstanding amount thereof on such date after giving effect to any Extensions of Credit occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate Available Amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all payments or disbursements made by an Issuing Bank pursuant to a Letter of Credit Advance that have not yet been reimbursed at such time.

  • 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.

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

  • Swing Line Sublimit means an amount equal to the lesser of (a) $25,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

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

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Commitments and $50,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments.

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

  • 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.

  • 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.

  • 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.

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

  • 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.

  • 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.

  • Revolving Loan Outstandings means at any time of calculation the sum of the then existing aggregate outstanding principal amount of Revolving Loans and the then existing Letter of Credit Liabilities.

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

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

  • L/C Sublimit has the meaning ascribed to it in Annex B.

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