Optional LOC Reduction definition

Optional LOC Reduction has the meaning assigned to it in Section 2.01(d).
Sample 1Sample 2Sample 3

Examples of Optional LOC Reduction 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.

  • 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.

  • Upon (A) the Issuing Lender’s receipt of such notice and expiration of such fifteen (15) calendar day notice period and (B) the Borrower’s payment to the Issuing Lender of any applicable Early Termination Fee, then an Optional LOC Reduction shall immediately become effective (it being understood that any such reduction shall not become effective until the Reinsurance Trustee has countersigned such amendment).

  • Upon (A) the Issuing Lender’s receipt of such notice and expiration of such fifteen (15) calendar day notice period and (B) the Borrower’s payment to the Issuing Lender of any applicable Early Termination Fee, then an Optional LOC Reduction shall immediately become effective.

  • 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 (it being understood that any such reduction shall not become effective until the Reinsurance Trustee has countersigned such amendment).

Related to Optional LOC Reduction

  • Increase Amount is defined in Section 2.3(a).

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Replacement Term Loans shall have the meaning provided in Section 13.1.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).

  • Extended Term Loans has the meaning specified in Section 2.15(a).

  • Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Committed Amount shall have the meaning assigned thereto in the Pricing Side Letter.

  • New Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Designated Amount means the lesser of:

  • Uncommitted Amount shall have the meaning assigned thereto in the Pricing Side Letter.

  • Tranche C Term Loan as defined in Section 2.1.

  • Fixed Incremental Amount means (i) the greater of $920,000,000 and 100% of Consolidated EBITDA as of the last day of the most recently ended Test Period minus (ii) the aggregate outstanding principal amount of all Incremental Facilities, Incremental Equivalent Debt and/or Indebtedness incurred pursuant to Section 7.03(r)(ii)(A), in each case incurred or issued in reliance on this definition.

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility Agreement.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(a) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $795,000,000.

  • Submitted Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Tranche A Term Loans means Loans made by the Tranche A Term Lenders pursuant to Section 2.01(a).