Required Letter of Credit Amount definition

Required Letter of Credit Amount means (i) at any time when the -------------------------------- aggregate principal amount of Loans outstanding is less than or equal to $125,000,000, an amount equal to 10.0% of the aggregate principal amount of Loans outstanding at such time, and (ii) at any time when the aggregate principal amount of Loans outstanding is greater than $125,000,000, an amount equal to 5.0% of the aggregate principal amount of Loans outstanding at such time.
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Required Letter of Credit Amount means an amount equal to (i) in the case of any period prior to February 1, 2010, $512,070.00 and (ii) in the case of any period on or after February 1, 2010 but prior to the Replacement Effective Date, $256,035.00 and (iii) in the case of any period on or after the Replacement Effective Date, $134,888.00. 2.5. Section 1.05 of the Lease is amended by deleting such Section 1.05 in its entirety (other than the heading “Section 1.05. Term”), and inserting in its place the following: The “Term” of this Lease shall commence on the Commencement Date and shall continue thereafter until the date which is six (6) years after the Replacement Effective Date, unless sooner terminated or renewed in accordance with the provisions of this Lease. For purposes of clarification, the Term of this Lease with respect to the Initial Demised Premises shall expire on the Replacement Effective Date.
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Required Letter of Credit Amount means, with respect to any date of determination, the greater of (i) the Series 2002-1 Minimum Credit Support Amount less the Series 2002-1 Available Subordinated Amount on such date of determination and (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount on such date of determination.
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Examples of Required Letter of Credit Amount in a sentence

  • The Letter of Credit, together with the Stated Amount of all other outstanding Letters of Credit issued to the Agent, shall have a Stated Amount equal to the Required Letter of Credit Amount.

  • Accordingly, the Parties have agreed that Suntech will be required to deliver to MEMC, no later than the fifth Business Day of each Contract Year, an irrevocable Letter of Credit drawn on the New York, New York branch of the Bank of China (the “LC Bank”), in an amount equal to the Required Letter of Credit Amount for such Contract Year as is set forth on Attachment C (the “Letter of Credit Amount”), and that expires on the sixth Business Day of the subsequent Contract Year.

  • In addition, one of the following tables for a BOT Agreement (Table 3) shows a contingent Letter of Credit Milestone, which could occur at or after the Closing, and the associated Required Letter of Credit Amount.

  • Table 3 provides for a contingent Letter of Credit Milestone and the associated Required Letter of Credit Amount (the “Supplemental Letter of Credit Amount”).

  • Accordingly, the Parties have agreed that Conergy will be required to deliver to MEMC, no later than the seventh Business Day of each Contract Year, an irrevocable Letter of Credit drawn on a bank that is requested by Conergy and approved by MEMC (the “LC Bank”), in an amount equal to the Required Letter of Credit Amount for such Contract Year as is set forth on Attachment C (the “Letter of Credit Amount”), and that expires on the eighth Business Day of the subsequent Contract Year.

  • The Borrower may, in lieu of delivering a Letter of Credit or Letters of Credit to the Agent, establish a Cash Collateral Account in the name of the Agent for the benefit of the Lenders and deposit, or cause to be deposited, in the Cash Collateral Account an amount equal to the Required Letter of Credit Amount.

  • The Guarantor agrees to maintain a letter of credit in a stated amount which is equal to or greater than the Required Letter of Credit Amount.

  • If Landlord shall have so drawn upon the Letter of Credit (or the proceeds thereof), Tenant shall promptly upon demand deliver to Landlord a replacement Letter of Credit or an amendment to the Letter of Credit such that the Letter of Credit shall be in the amount of the Required Letter of Credit Amount, as such Required Letter of Credit Amount may be decreased pursuant to clause (c) below.

  • The Required Letter of Credit Amount shall be calculated based on the parcels that constitute Developer Secured Parcels as of such August 1.

  • The Required Letter of Credit Amount shall be calculated based on the parcels that constitute Secured Transferred Parcels owned by such owner or Affiliates of such owner as of such August 1.


More Definitions of Required Letter of Credit Amount

Required Letter of Credit Amount means, with respect to any parcel or parcels within the Community Facilities District, for each Bond Year, an amount equal to 300% of the Share of MADS that would be applicable to such parcel or parcels for the Fiscal Year ending in such Bond Year.
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Required Letter of Credit Amount means an amount equal to $512.070.00, as may be adjusted pursuant to the immediately following sentence. Notwithstanding the foregoing, the parties agree that if on the Termination Notice Final Date (as defined in Section 4.03 hereof) (i) Tenant shall not have exercised the Termination Option and (ii) Tenant’s financial condition is then similar (as reasonably determined by Landlord by reference to Tenant’s periodic reports as filed with the U.S. Securities and Exchange Commission) to Tenant’s financial condition as of March 31, 2005, then on the Termination Notice Final Date the Required Letter of Credit Amount shall be reduced to $256,035.00; provided, however, that in no event shall the Required Letter of Credit Amount be reduced to $256,035.00 unless and until Landlord shall have conveyed in writing to Tenant that the condition described in clause (ii) above has been satisfied.
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Required Letter of Credit Amount means the Series 1997-2 Minimum Credit Support Amount less the Available Subordinated Amount, but in no event less than the Liquidity Amount.
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Required Letter of Credit Amount means, (a) with respect to any date of determination prior to the full investment of proceeds from the offering of the Series 2001-2 Notes in Group V Collateral other than cash, the greatest of (i) the Series 2001-2 Minimum Credit Support Amount less the Series 2001-2 Available Subordinated Amount on such date of determination, (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount, on such date of determination and (iii) 15% (or a lower percentage upon confirmation from Moody's that such lower percentage will not result in the reduction or withdrawal of its then current rating on the Series 2001-2 Notes) of the sum of the Group V Aggregate Type I Repurchase Asset Amount and the Group V Aggregate Type II Repurchase Asset Amount, and (b) with respect to any date of determination on or after the full investment of proceeds from the offering of the Series 2001-2 Notes in Group V Collateral other than cash, the greatest of (i) the Series 2001-Minimum Credit Support Amount less the Series 2001-2 Available Subordinated Amount on such date of determination, (ii) the Minimum Liquidity Amount less the Cash Liquidity Amount on such date of determination, and (iii) 15% (or a lower percentage upon confirmation from Moody's that such lower percentage will not result in the reduction or withdrawal of its then current rating on the Series 2001-2 Notes) of the Series 2001-2 Invested Amount.
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Related to Required Letter of Credit Amount

  • 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.

  • 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.

  • Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.

  • 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).

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

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

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • 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.

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

  • 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.

  • Credit Amount has the meaning set forth in Section 4.01(b)(ii).

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

  • 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.

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

  • Letter of Credit Request shall have the meaning provided in Section 2.03(a).

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

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

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • 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.

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

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

  • Letter of Credit Subfacility means, at any time, an amount equal to the lesser of (a) the aggregate amount of the L/C Issuers’ Letter of Credit Sublimits at such time and (b) the Revolving Credit Facility at such time. The Letter of Credit Subfacility is part of, and not in addition to, the Revolving Credit Facility. On the Closing Date, the amount of the Letter of Credit Subfacility is $25,000,000.

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.