Outstanding Letters of Credit definition

Outstanding Letters of Credit shall have the meaning given such term in Section 2.02(j).

Outstanding Letters of Credit means each letter of credit described on Schedule 1.1(b) and outstanding as of the Closing Date.

Outstanding Letters of Credit means, as of any date, the sum of (a) the Stated Amount of all outstanding Letters of Credit at such time and, without duplication, (b) all reimbursement obligations in respect of Letters of Credit at such time.

Examples of Outstanding Letters of Credit in a sentence

• The Borrower, each Facing Agent and each of the Lenders hereby agree with respect to the Outstanding Letters of Credit that each such Outstanding Letters of Credit, for all purposes under this Agreement, shall, from and after the Closing Date, be deemed to be Letters of Credit governed by the terms and conditions of this Agreement.

• Each Revolving Lender further agrees to participate in each such Outstanding Letter of Credit in an amount equal to its Pro Rata Share of the Stated Amount of such Outstanding Letters of Credit.

• Each of Borrower, each Guarantor, each Lender and the Issuing Bank hereby agree that with respect to the letters of credit set forth on Schedule 2.3.4 (“Outstanding Letters of Credit”), for all purposes of this Agreement, such Outstanding Letters of Credit shall constitute Letters of Credit hereunder.

• The amount of the Total Revolving Credit Commitment which shall be available to the Borrower as Advances shall be reduced by the aggregate amount of Outstanding Letters of Credit and Outstanding Swing Line Loans.

• The Borrower, the LC Issuer and each of the Revolving Lenders hereby agree with respect to the Outstanding Letters of Credit that effective upon the Effective Date (A) such Outstanding Letters of Credit shall be deemed to be Letters of Credit issued under and governed in all respects by the terms and conditions of this Agreement and (B) each Lender shall participate in each Outstanding Letter of Credit in an amount equal to its Pro Rata Share of the face amount of such Outstanding Letter of Credit.

More Definitions of Outstanding Letters of Credit

Outstanding Letters of Credit means at any time the Letters of Credit outstanding at such time.

Outstanding Letters of Credit means all undrawn amounts of Letters of Credit plus Reimbursement Obligations;

Outstanding Letters of Credit shall have the meaning set forth in Section 3.01(a) hereof.

Outstanding Letters of Credit is defined in Section 2.22(l).

Outstanding Letters of Credit has the meaning assigned thereto in the Preamble to this Agreement.

Outstanding Letters of Credit is defined in Section 2.22(xii).

Outstanding Letters of Credit means all outstanding letters of credit heretofore issued by the Bank (whether directly or through one of its branches or affiliates) for the account of the Company, including but not limited to, letters of credit issued under the Prior Credit Agreement.