Multicurrency Working Capital Facility Letter of Credit definition

Multicurrency Working Capital Facility Letter of Credit as defined in Section 3.1.
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Multicurrency Working Capital Facility Letter of Credit. (as defined in the Existing Credit Agreement) set forth on Schedule 3.1(b). “Existing Multicurrency Working Capital Facility Loans”: each “Multicurrency Working Capital Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date. “Extensions of Credit”: at any date, as to any Lender at any time, the amount of its Dollar Working Capital Facility Committed Tranche Extensions of Credit, its Dollar Working Capital Facility Uncommitted Tranche Extensions of Credit, its Multicurrency Working Capital Facility Extensions of Credit or its Acquisition Facility Extensions of Credit at such time, as the context requires. “Facility”: the Acquisition Facility, the Dollar Working Capital Facility Committed Tranche, the Dollar Working Capital Facility Uncommitted Tranche or the Multicurrency Working Capital Facility, as the context requires. “Facility Increase”: as defined in Section 4.1(b). “FATCA”: Sections 1471 through 1474 of the Code, as of the SecondThird Amendment Effective Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements entered into in connection with the implementation of such Sections of the Code and any fiscal or regulatory legislation or rules adopted pursuant to such intergovernmental agreements. “Federal Funds Effective Rate”: for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate, provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed zero for the purposes of this Agreement. “Fee Letter”: collectively, (i) the fee letterAmended and Restated Fee Letter dated as of March 18July 21, 20212022, between MUFG and the U.S. Borrower, and (ii) the fee letter dated as of April 13, 2022, between MUFG and the Borrowers. “FERC”: the U.S. Federal Energy Regulatory Commission. “FERC Contract Collateral”: as defined in the Security Agreement.
Sample 1
Multicurrency Working Capital Facility Letter of Credit as defined in Section 3.1. “Multicurrency Working Capital Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding. “Multicurrency Working Capital Facility Loans”: as defined in Section 2.1(b). USActive 56005294.156005294.9 -82-
Sample 1

Examples of Multicurrency Working Capital Facility Letter of Credit in a sentence

  • Each Multicurrency Working Capital Facility Letter of Credit is to be denominated only in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the applicable Agent and the applicable Issuing Lender in accordance with Section 3.3(a)).

  • Each Multicurrency Working Capital Facility Letter of Credit is to be denominated only in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the Administrative Agent and the applicable Issuing Lender in accordance with 3.3(a)).


More Definitions of Multicurrency Working Capital Facility Letter of Credit

Multicurrency Working Capital Facility Letter of Credit as defined in Section 3.1. “Multicurrency Working Capital Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding. “Multicurrency Working Capital Facility Loans”: as defined in Section 2.1(b). “Multicurrency Working Capital Facility Long Tenor Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Long Tenor Letters of Credit. “Multicurrency Working Capital Facility Maturity Date”: with respect to any Multicurrency Working Capital Facility Loan, the earliest to occur of (i) the date on which the Multicurrency Working Capital Facility Loans become due and payable pursuant to Section 9, (ii) the date on which the Multicurrency Working Capital Facility Commitments terminate pursuant to Section 4.1 and (iii) the Multicurrency Working Capital Facility Commitment Termination Date. “Multicurrency Working Capital Facility Performance Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Performance Letters of Credit. “Multicurrency Working Capital Facility Utilization”: with respect to the aggregate Multicurrency Working Capital Facility Commitments, for any fiscal quarter, an amount (expressed as a percentage) equal to the quotient of (a) the quotient of (i) the sum of the applicable Total Multicurrency Working Capital Facility Extensions of Credit outstanding as of the close of business on each day during such fiscal quarter divided by (ii) the number of days in such fiscal quarter divided by (b) the aggregate Multicurrency Working Capital Facility Commitments in effect on the last Business Day of such fiscal quarter. “Multiemployer Plan”: a Plan which is a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA and which is subject to Title IV of ERISA. “Natural Gas Products”: natural gas and natural gas liquids and any other product or by- product of any of the foregoing, and all rights to transmit, transport or store any of the foregoing. “Natural Gas Transactions” means those certain transactions entered into by a Loan Party in the ordinary course of business with one or more natural gas utilities (each, a “Subject Utility” and, collectively, the “Subject Utilities”) pursuant to which the applicable Loan Party will sell to a Subject Utility, and the applicable Subject Utility will purchase from such Loan Party, certain accounts receivable
Sample 1
Multicurrency Working Capital Facility Letter of Credit as defined in Section 3.1. “Multicurrency Working Capital Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding. “Multicurrency Working Capital Facility Loans”: as defined in Section 2.1(b). “Multicurrency Working Capital Facility Long Tenor Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Long Tenor Letters of Credit. “Multicurrency Working Capital Facility Maturity Date”: with respect to any Multicurrency Working Capital Facility Loan, the earliest to occur of (i) the date on which the Multicurrency Working Capital Facility Loans become due and payable pursuant to Section 9, (ii) the date on which the Multicurrency Working Capital Facility Commitments terminate pursuant to Section 4.1 and (iii) the Multicurrency Working Capital Facility Commitment Termination Date. “Multicurrency Working Capital Facility Performance Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Performance Letters of Credit. “Multiemployer Plan”: a Plan which is a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA and which is subject to Title IV of ERISA. “Natural Gas Products”: natural gas and natural gas liquids and any other product or by-product of any of the foregoing, and all rights to transmit, transport or store any of the foregoing.
Sample 1
Multicurrency Working Capital Facility Letter of Credit as defined in Section 3.1. “Multicurrency Working Capital Facility Letter of Credit Sub-Limit”: $50,000,000 at any time outstanding. “Multicurrency Working Capital Facility Loans”: as defined in Section 2.1(b). “Multicurrency Working Capital Facility Long Tenor Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Long Tenor Letters of Credit. “Multicurrency Working Capital Facility Maturity Date”: with respect to any Multicurrency Working Capital Facility Loan, the earliest to occur of (i) the date on which the Multicurrency Working Capital Facility Loans become due and payable pursuant to Section 9, (ii) the date on which the Multicurrency Working Capital Facility Commitments terminate pursuant to Section 4.1 and (iii) the Multicurrency Working Capital Facility Commitment Termination Date. “Multicurrency Working Capital Facility Performance Letters of Credit”: Multicurrency Working Capital Facility Letters of Credit that are Performance Letters of Credit. USActive 56005294.956005294.16- 85-
Sample 1

Related to Multicurrency Working Capital Facility Letter of Credit

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • 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.

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

  • Revolving Letter of Credit means each letter of credit issued pursuant to Section 3.1(a)(i) (including DIP Revolving Letters of Credit deemed issued as Revolving Letters of Credit pursuant to Section 3.10).

  • 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.

  • Alternative Currency Letter of Credit means a Letter of Credit denominated in an Alternative Currency.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • 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.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • 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).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

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

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

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • Canadian Letter of Credit means any letter of credit issued by the Canadian Lender pursuant to Section 2.03. A Canadian Letter of Credit may be a commercial letter of credit or a standby letter of credit. No Letter of Credit shall be or become a Canadian Letter of Credit.

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $500,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Facility Letter of Credit Fee is defined in Section 2A.8.

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

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.