RC Bank definition
Examples of RC Bank in a sentence
Notwithstanding anything to the contrary contained above, at any time after the termination of the Total Revolving Loan Commitment, if any Revolving Loans or Letters of Credit remain outstanding, assignments may be made as provided above, except that the respective assignment shall be of a portion of the outstanding Tranche 1 Revolving Loans or Tranche 2 Revolving Loans of the respective Tranche 1 RC Bank or Tranche 2 RC Bank, as the case may be.
Upon the terms and subject to the conditions of this Agreement, each RC Bank severally but not jointly agrees to make, from time to time during the period from the Restated Agreement Date through the Maturity Date, one or more RC Loans to the Borrower in an aggregate unpaid principal amount not exceeding at any time such RC Bank's RC Commitment at such time.
Each month the Administrative Agent shall forward to each RC Bank a report listing the daily aggregate amount available to be drawn under all Trade Letters of Credit outstanding during the previous month.
Based on the foregoing, the Agent will send to each RC Bank, upon such Letter of Credit fee payment date, a report setting forth for the period covered by such fee the daily aggregate Letter of Credit Outstandings during such period.
Notwithstanding anything to the contrary contained above, at any time after the termination of the Total Revolving Loan Commitment, if any Revolving Loans or Letters of Credit remain outstanding, assignments may be made as provided above, except that the respective assignment shall be of a portion of the outstanding Revolving Loans of the respective RC Bank.
Upon any change in the Revolving Commitments or Adjusted RC Percentages of the ▇▇ ▇▇▇▇▇ pursuant to Section 12.04(b) or upon a Bank Default, it is hereby agreed that, with respect to all outstanding Letters of Credit and Unpaid Drawings, there shall be an automatic adjustment to the participations pursuant to this Section 2.05 to reflect the new Adjusted RC Percentages of the assigning and assignee RC Bank or of all ▇▇ ▇▇▇▇▇, as the case may be.