LOC Commitment Percentage definition

LOC Commitment Percentage means, for each Lender, the percentage identified as its LOC Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6(c).

LOC Commitment Percentage means, for each Lender, the percentage identified as its LOC Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 10.6(c).

LOC Commitment Percentage means, for each Bank, the percentage identified as its LOC Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 11.13(c).

Examples of LOC Commitment Percentage in a sentence

• Without limiting the scope and nature of each Lender's participation in any Letter of Credit, to the extent that the Issuing Lender has not been reimbursed as required hereunder or under any LOC Document, each such Lender shall pay to the Issuing Lender its LOC Commitment Percentage of such unreimbursed drawing in same day funds on the day of notification by the Issuing Lender of an unreimbursed drawing pursuant to the provisions of subsection (d) hereof.

• The Issuing Lender will promptly notify the other Lenders of the amount of any unreimbursed drawing and each Lender shall promptly pay to the Administrative Agent for the account of the Issuing Lender in Dollars and in immediately available funds, the amount of such Lender's LOC Commitment Percentage of such unreimbursed drawing.

• Without limiting the scope and nature of each Lender’s participation in any Letter of Credit, to the extent that the Issuing Lender has not been reimbursed as required hereunder or under any LOC Document, each such Lender shall pay to the Issuing Lender its LOC Commitment Percentage of such unreimbursed drawing in same day funds on the day of notification by the Issuing Lender of an unreimbursed drawing pursuant to the provisions of subsection (d) hereof.

• The Issuing Lender will promptly notify the other Lenders of the amount of any unreimbursed drawing and each Lender shall promptly pay to the Agent for the account of the Issuing Lender in Dollars and in immediately available funds, the amount of such Lender's LOC Commitment Percentage of such unreimbursed drawing.

• Each Issuing Lender will promptly notify the Lenders of the amount of any unreimbursed drawing in respect of any Letter of Credit issued by such Issuing Lender and each Lender shall promptly pay to the Administrative Agent for the account of such Issuing Lender in Dollars and in immediately available funds, the amount of such Lender’s LOC Commitment Percentage of such unreimbursed drawing.

More Definitions of LOC Commitment Percentage

LOC Commitment Percentage means, with respect to Xxxxx Fargo, 50% of the LOC Committed Amount, and with respect to Bank of America, 50% of the LOC Committed Amount.

LOC Commitment Percentage means, with respect to Wells Fargo, 50% of the LOC Committed Amount, and with respect to Bank of America, 50% of the LOC Committed Amount.

LOC Commitment Percentage means, for each Lender, the percentage identified as the LOC Commitment Percentage for such Lender on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in

LOC Commitment Percentage means, for each Lender, the percentage identified as its LOC Commitment Percentage on Exhibit 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 10.6(c). “LOC Committed Amount” means, collectively, the aggregate amount of all of the LOC Commitments of the Lenders to issue and participate in Letters of Credit as referenced in Section 2.4 and, individually, the amount of each Lender’s LOC Commitment as specified in Exhibit 2.1(a). “LOC Documents” means, with respect to any Letter of Credit, such Letter of Credit, any amendments thereto, any documents delivered in connection therewith, any application therefor, and any 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 (b) any collateral security for such obligations. “LOC Obligations” means, at any time, the sum of (a) the maximum amount which is, or at any time thereafter may become, available to be drawn under Letters of Credit then outstanding, assuming compliance with all requirements for drawings referred to in such Letters of Credit plus (b) the aggregate amount of all drawings under Letters of Credit honored by the Issuing Lenders but not theretofore reimbursed. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with the definition of Letter of Credit Amounts. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

LOC Commitment Percentage means, for each Lender, the percentage identified as its LOC Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Article X; provided that in the case of Section 2.19 when a Defaulting Lender shall exist, “LOC Commitment Percentage” shall mean the percentage of the total LOC Commitments (disregarding any Defaulting Lender’s LOC Commitment) represented by the applicable Lender’s LOC Commitment. If the LOC Commitments have terminated or expired, the LOC Commitment Percentages shall be determined based upon the LOC Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination.

LOC Commitment Percentage means the percentage of the total LOC Commitments (disregarding any Defaulting Lender’s LOC Commitment) represented by the applicable Lender’s LOC Commitment. If the LOC Commitments have terminated or expired, the LOC Commitment Percentages shall be determined based upon the LOC Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination.

LOC Commitment Percentage as to any LOC Participant at any time, the percentage which (a) the sum of (i) the product of the percentage of the LOC Commitments of all the LOC Participants then constituted by such LOC Participant's LOC Commitment times the aggregate LOC Obligations then outstanding PLUS (ii) such LOC Participant's LOC Loans then outstanding then constitutes of (b) the sum of (i) the aggregate LOC Obligations then outstanding and (ii) the aggregate principal amount of the LOC Loans of all the LOC Participants then outstanding.