LOC Draw definition

LOC Draw means any draw under the Letter of Credit.
Sample 1Sample 2Sample 3
LOC Draw means a draw under the Letter of Credit Agreement. --------
Sample 1Sample 2

Examples of LOC Draw in a sentence

  • The Indenture Trustee is making a drawing under the Letter of Credit as required by the Indenture for an amount equal to the lesser of (i) the LOC Draw Amount and (ii) the Letter of Credit Available Amount as in effect on the date of this certificate (such lesser amount being the “ LOC Credit Disbursement”).

  • The undersigned hereby certifies that a Primary LOC Draw Event has occurred.

  • If the LOC is drawn upon by Landlord pursuant to a default by Tenant under this Lease (the "LOC Draw Amount") as described in this Article 4.2 Tenant agrees that it shall upon demand replenish the LOC to its required amount as outlined in Article 4.2.1 within five (5) business days of Landlord's demand.

  • If Tenant fails to pay to Landlord this LOC Draw Amount Tenant will be in default of this Lease subject to all rights and remedies of Landlord per this Lease.

  • 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.

  • The Debtors hereby grant to Lender a security interest in the accounts receivable of the Debtors, if any, generated post-petition, and in all inventory acquired by the Debtors post-petition and in the proceeds of same, and all other personal property of the Debtors acquired post-petition (including, but not limited to goods, general intangibles, and fixtures) to secure any advance resulting from an LOC Draw.

  • If the LOC is not replenished within five (5) business days of Landlord's demand Tenant will be in default of this Lease and subject to all rights and remedies of Landlord pursuant to this Lease including but not limited to Landlord's right to draw on the remainder of the LOC and Tenant shall pay to Landlord an amount equal to the LOC Draw Amount to be held as a security deposit.

  • 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.

  • The Indenture Trustee is making a drawing under the Letter of Credit as required by the Indenture for an amount equal to the lesser of (i) the LOC Draw Amount and (ii) the Letter of Credit Available Amount as in effect on the date of this certificate (such lesser amount being the “LOC Credit Disbursement”).

  • 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.

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 January 1, 2011, unless extended by Lender pursuant to any modification, extension or renewal note executed by the Borrower and accepted by Lender in its sole and absolute discretion in substitution for the Revolving Note.

  • 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 the day before the first anniversary of the Closing Date.

  • 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 means the period commencing on the Effective Date, and ending on the earlier of (i) the date on which Investor shall have purchased Put Shares pursuant to this Agreement for an aggregate Purchase Price of the Maximum Commitment Amount, or (ii) the date occurring twenty four (24) months from the date of commencement of the Commitment Period.

  • 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.