LOC Draw definition

LOC Draw means any draw under the Letter of Credit.
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LOC Draw means a draw under the Letter of Credit Agreement. --------
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LOC Draw means a draw under any Letter of Credit.
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Examples of LOC Draw in a sentence

  • Internal transfers between your Checking Account and Savings Account are available for withdrawal the same Business Day you initiate the transfer.● LOC Draw.

  • On July 3, 2018, the Indenture Trustee applied the June LOC Draw to the outstanding rent payment due July 2, 2018.

  • The Borrower shall repay to the Lender the outstanding principal and amounts of any Revolving Credit Loans upon demand by the Lender therefor, together with accrued interest from the date the applicable LOC Draw was honored.

  • The PTC Holders will be entitled to the proceeds of the June LOC Draw.

  • Prior to the completion of the LOC Transfer, Seller shall not draw under, assign, transfer, or further mortgage or encumber the LOC; provided, however, that, in the event of a default by the tenant under the Avelo Lease, Seller shall draw under the LOC as directed by Purchaser and immediately transfer any such amount drawn under the LOC to Purchaser (a "LOC Draw").

  • Seller shall indemnify, defend, and hold Purchaser harmless of, from and against any and all losses or damages incurred by Purchaser arising from Seller’s failure to effect the LOC Transfer or a LOC Draw requested by Purchaser as required under this Section 4.4(e).

  • Note Rate Reconciliation Note: Please note that Demand Request / Draw Request / Disbursement Request / LOC Draw Request all mean the demand for Interest and /or Principal that the trustee makes on Fannie Mae per Fannie Mae’s Credit Facility Instrument.

  • Notwithstanding the foregoing, if any of the Collateral necessary to fully repay and reimburse the Lender is invested in commercial paper, then the Borrower shall be obligated to repay and/or reimburse the Lender when such investment matures, but in no event later than ten (10) Business Days from the date such LOC Draw was honored.

  • Notwithstanding the foregoing, the Debtors' obligation to repay any advance resulting from an LOC Draw on the terms provided herein and the Debtors' agreement not to make any additional purchases or pay any additional expenses utilizing credit extended pursuant to the Textron Financing Facility in the event of termination of this Agreement as provided below will survive any termination of this Agreement.

  • Nothing in this Section 29 (Concessionaire Debt-Proxy Recoupment On Termination by MTA) shall impair the MTA’s right to draw on the Letters of Credit in accordance with Section 26.1.3.1 (LOC Draw due to Failure to Meet Payment Obligations, Uncured Event of Default, or Failure to Replace Expiring Letters of Credit).

Related to LOC Draw

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Letter of Credit Limit means $5,000,000.

  • Downgrade Drawing has the meaning assigned to such term in Section 3.6(c).

  • Revolving Facility Maturity Date means, as the context may require, (a) with respect to the Revolving Facility in effect on the Closing Date, the fifth anniversary of the Closing Date and (b) with respect to any other Classes of Revolving Facility Commitments, the maturity dates specified therefor in the applicable Extension Amendment or Refinancing Amendment.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Revolving Loan Maturity Date means the earliest to occur of (i) the Maturity Date and (ii) the date on which the Revolving Loans become due and payable in accordance with Section 10.02.

  • 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.

  • Revolving Maturity Date means April 22, 2024 (or, with respect to any Revolving Lender that has extended its Revolving Commitment pursuant to a Permitted Amendment, the extended maturity date, set forth in any such Loan Modification Agreement).

  • 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 $25,000,000.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Swingline Expiry Date means that date which is five Business Days prior to the Revolving Loan Maturity Date.

  • 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.

  • Commitment Period the period from and including the date hereof to but not including the Termination Date or such earlier date on which the Commitments shall terminate as provided herein.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Swingline Maturity Date means, with respect to any Swingline Loan, the date that is five Business Days prior to the Revolving Credit Maturity Date.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Swing Loan Maturity Date means, with respect to any Swing Loan, the earlier of (i) the last day of the period for such Swing Loan as established by the Swing Line Lender and agreed to by the Borrower, which shall be less than 15 days, and (ii) the Revolving Facility Termination Date.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • 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.

  • 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 (i) the rights and obligations of the parties concerned or at risk or (ii) any collateral security for such obligations.

  • Revolving Credit Maturity Date means the date that is six years after the Closing Date, or, if such date is not a Business Day, the next preceding Business Day.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Unpaid Drawing shall have the meaning provided in Section 3.4(a).

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.