PNC Letters of Credit definition

PNC Letters of Credit means, collectively, standby letters of credit issued by PNC Bank, National Association, for the account of the Borrower that are outstanding as of the Closing Date and described on Schedule 1.01 hereto.
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PNC Letters of Credit has the meaning ascribed to that term in Section 13.10 hereof.
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PNC Letters of Credit is defined in Section 2.6.
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Examples of PNC Letters of Credit in a sentence

  • Waiver of Jury Trial 25 Exhibit A Form of Promissory Note Exhibit B Form of Loan Notice Exhibit C Form of Compliance Certificate Schedule I Existing PNC Letters of Credit THIS LOAN AGREEMENT is made as of the 26 day of July, 2016, by and among ANR, Inc., a Delaware corporation (“Borrower”), the Guarantors (as hereinafter defined) party hereto and Contura Energy, Inc.

  • Until such time as the Existing PNC Letters of Credit are replaced with Letters of Credit issued by the Issuing Bank hereunder, PNC shall have the same rights hereunder with regard to the Existing PNC Letters of Credit as the Issuing Bank has with regard to Letters of Credit, and each reference herein to the "Issuing Bank" shall be deemed to include PNC as issuer of the Existing PNC Letters of Credit.

  • Subject to the terms and provisions set forth herein, on the Effective Date, or as soon as practicable thereafter, the Issuing Bank shall issue replacement Letters of Credit in exchange for the Existing PNC Letters of Credit.

  • Each of the Existing PNC Letters of Credit shall be deemed to have been issued hereunder on the Closing Date by PNC as Issuer.

  • Notwithstanding anything to the contrary herein, the letters of credit described in Schedule II hereto are deemed to be "Letters of Credit" hereunder issued by PNC Bank, N.A. (the "PNC Letters of Credit") and PNC Bank, N.A. shall be an "Issuer" hereunder solely (as of the Closing Date) with respect to the PNC Letters of Credit.

Related to PNC Letters of Credit

  • Trade Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Commercial Letters of Credit means those letters of credit subject to the UCP payable in Dollars and issued or caused to be issued by Lender on behalf of Borrower under a Loan Facility for the benefit of a supplier(s) of Borrower in connection with Borrower's purchase of goods or services from the supplier in support of the export of the Items.

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

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

  • Letters of Credit as defined in Section 3.1(a).

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

  • Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.

  • 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 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.

  • Letter of Credit Documents means, with respect to any Letter of Credit, collectively, any application therefor and any other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time.

  • 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 Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Supporting Letter of Credit has the meaning specified in Section 2.3(g).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

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

  • Revolving Loan Documents has the meaning specified for the term “Loan Documents” in the Revolving Credit Agreement.

  • 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.

  • 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 Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.