LOC Amount definition

LOC Amount means the aggregate issued and outstanding face amount of the Letter of Credit at any time and from time to time, including any adjustment pursuant to Section 2.01, but excluding, for the avoidance of doubt, any amounts drawn thereon for which such face amount is not reduced.

LOC Amount means, as of any date of determination, the amount available to be drawn under any Letter of Credit as of such date; provided, that any Letter of Credit having an expiry date within [***] shall have an LOC Amount of [***].

LOC Amount shall have the meaning as set forth in Section 5.4.2.1.

Examples of LOC Amount in a sentence

• Any Optional LOC Reduction shall remain effective until the LOC Amount is further amended in accordance with the terms hereof or the Letter of Credit is terminated pursuant to the terms of this Agreement.

• The Borrower shall, subject to the prior written consent of the Ceding Company and the Reinsurance Trustee, have the right at any time to reduce, upon fifteen (15) calendar days prior written notice to the Issuing Lender, the LOC Amount (an “Optional LOC Reduction”).

• In connection with any Optional LOC Reduction, the Issuing Lender shall immediately amend the Letter of Credit to reduce the LOC Amount to the corresponding amount requested by the Borrower and consented to by the Reinsurance Trustee, (the “Optional LOC Reduction Amount”) and the Borrower shall request that the Reinsurance Trustee countersign such amendment.

• If the Issuing Lender has not received the officer’s certificate of the Borrower described in the immediately preceding sentence and the Issuing Lender has delivered a Non-Increase Notice, then the LOC Amount shall not be increased above the then-current LOC Amount.

• The maximum amount of all Letter of Credit Draws that the Company may make under this Agreement (and the maximum consideration Purchaser is obligated to pay for Common Stock and/or Warrants hereunder at Additional Closings) shall not exceed the LOC Amount.

More Definitions of LOC Amount

LOC Amount. As defined in Section 42.7.

LOC Amount means the aggregate issued and outstanding face amount of the Letter of Credit at any time and from time to time, including

LOC Amount means the stated amount of $8,535,946.31 as reduced and ---------- reinstated as provided for in the Letter of Credit.

LOC Amount. See Section 2.3(a);

LOC Amount shall have the meaning set forth in the recitals.

LOC Amount means the aggregate issued and outstanding face amounts of all Letters of Credit remaining undrawn at any time and from time to time, as determined by the Calculation Agent.

LOC Amount means (i) Tranche A LOC Amount plus (ii) Tranche B LOC Amount.